Limited time offer

Save $250 with no establishment fee on Unsecured Fixed Rate Personal Loans

Available only on Unsecured Fixed Rate Personal Loans when you apply and fund between 1 March 2024 and 30 April 2024~.

Why choose CommBank?

Competitive interest rates

Know you’re getting the rate that is personalised according to your circumstances.

Quick and easy application

Complete the online application in about 15 minutes, and get a response in as little as 60 seconds.

Same-day funding

You could receive the funds on the same day you apply (if eligible)^.

Helping over 100,000 customers with their goals every year with a
CommBank personal loan

Choose a personal loan that’s right for you

Fixed Rate Loan

  • Stay in control with a fixed interest rate and repayments for the term of the loan
  • Interest rates: 8.50% p.a.2 to 20.50% p.a. (comparison rate: 9.53% p.a. to 21.39% p.a.)
  • Representative rate: 16.00%3 p.a. (comparison rate: 16.94% p.a.)
  • Borrow from $4,000 to $50,000
  • Make up to $1,000 in extra repayments per year without a fee1

Offer

Save $250 with no establishment fee on Unsecured Fixed Rate Personal Loans when you apply and fund between 01 March 2024 and 30 April 2024.

Variable Rate Loan

  • Flexibility to make extra repayments without a fee
  • Interest rates: 8.50%2 p.a. to 20.50% p.a. (comparison rate: 9.89% p.a. to 21.79% p.a.)
  • Representative rate: 16.00%3 p.a. (comparison rate: 17.32% p.a.)
  • Borrow from $4,000 to $50,000
  • Redraw available funds through your redraw facility

Secured Personal Loan

  • You can typically pay a lower rate by using your current car or the car you’re buying as security 
  • Interest rates: 6.99%2 p.a. to 13.49% p.a. (comparison rate: 8.40% p.a. to 14.83% p.a.)
  • Representative rate: 8.99%3 p.a. (comparison rate: 10.38% p.a.)
  • Borrow from $4,000 to $100,000
  • Make up to $1,000 in extra repayments per year without a fee

All the ways you can use a CommBank Personal Loan

Car

Buy your dream car, whether it’s new or used

Find out more

Electric vehicle (EV)

Cover your electric vehicle and charging station needs

Find out more

Debt consolidation

Streamline your finances and better manage your debt

Find out more

Home improvement

Design your dream home, whether you’re looking to renovate or redecorate

Find out more

Solar & battery

Go green with solar panels and battery packs

Find out more

Travel

Cover your travel costs when you’re planning your dream getaway

Find out more

Education

Invest in your future and cover your education expenses

Find out more

Other goals

Wedding, baby, medical expenses or other personal investments

Find out more

Apply

Apply online. It will take about 15 minutes and we’ll ask you some details. You can also apply over the phone or in branch

Response

After you submit, we’ll give you a response in 60 seconds

Contract

If approved, we’ll send you a contract. Accept the contract if you’re happy with the terms

Verify

We may ask you for some additional documents

Not sure which personal loan is right for you? 

Live sustainably and save

Enjoy lower interest rates for eligible sustainable purchases. 

We'll help you go green with a lower rate of 7.50% p.a. on Unsecured Fixed and Variable Rate loans and 6.49% p.a. on a Secured loan. Comparison rates are 8.54% p.a. for Unsecured Fixed Rate 8.90% p.a. for Unsecured Variable Rate loans and 7.90% p.a. for Secured loans.

Discover green discounts

Are you eligible to apply?

  • To be eligible to apply for a personal loan, you must:

    • Be at least 18 years old
    • Be an Australian or New Zealand citizen, Australian Permanent resident, or hold an eligible visa
    • Meet minimum income requirements
    • Be employed or have regular income
    • Have a good credit rating

Achieve your goals

Tools & calculators

  • Help me choose

    Use our personal loan selector tool to choose between Variable, Fixed Rate or Secured.

    Use selector

  • Repayments calculator

    Understand what your repayments will be. Adjust the term and the amount to meet your budget.

    Use calculator

  • How much can I borrow?

    Estimate how much you can borrow and work out the repayments at the current interest rate.

    Use borrowing calculator

How much does it cost to run an electric vehicle?

Use our comparison tool to see the estimated running costs, emissions and vehicle prices of an EV compared to a petrol, diesel or hybrid vehicle.

Get started

Things you should know

  • This guide doesn’t consider your individual objectives, financial situation or needs. Before basing any decisions on this information, please consider:

    • its appropriateness to your circumstances.
    • obtaining professional advice specific to your needs, including financial, taxation and legal advice.

    ~ Apply and fund an Unsecured Fixed Rate Personal Loan between 1 March 2024 and 30 April 2024 to save $250 on the establishment fee (comparison rate calculations are inclusive of this offer).

    1 Additional repayments made on a Fixed Rate Loan are not available to be redrawn. View the Personal Loan Terms and Conditions.  

    Your interest rate is based on a number of factors, including the information you provide and our assessment of your application. We'll confirm your interest rate in your loan offer document.

    Unsecured Fixed Rate Personal Loan interest rate ranges and the representative rate are set out below. Comparison rates and examples are based on a $30,000 unsecured fixed rate loan over 5 years:

    • Interest rates range from 8.50%2 p.a. to 20.50% p.a. (comparison rate from 9.53% p.a. to 21.39% p.a.). The estimated total amount payable including fees is between $37,830 and $49,091
    • The representative rate is 16.00%3 p.a. (16.94% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $44,673

    Unsecured Variable Rate Personal Loan interest rate ranges and the representative rate are set out below. Comparison rates and examples are based on a $30,000 unsecured variable rate loan over 5 years:

    • Interest rates range from 8.50%2 p.a. to 20.50% p.a. (comparison rate from 9.89% p.a. to 21.79% p.a.). The estimated total amount payable including fees is between $38,080 and $49,341
    • The representative rate is 16.00%3 p.a. (17.32% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $44,923

    Secured Personal Loan interest rate ranges and the representative rates are set out below. Comparison rates and examples are based on a $30,000 secured loan over 5 years:

    • Interest rates range from 6.99%2 p.a. to 13.49% p.a. (comparison rate from 8.40% p.a. to 14.83% p.a.). The estimated total amount payable including fees is between $36,784 and $42,558
    • The representative rate is 8.99%3 p.a. (10.38% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $38,506

    Interest rates at the lower end of our range, for example 8.50%/8.50%/6.99% p.a. (comparison rate 9.89%/9.53%/8.40% p.a.), may be offered to customers with an excellent credit history.

    An excellent credit history is determined by, among other things, paying your bills and making loan repayments on or ahead of time, being disciplined with your credit applications, and not overextending yourself financially.

    Actions which can negatively impact your credit history include missing bill or loan repayments, defaulting on your credit facility, or making a large number of credit applications in a short period of time. You can find out more about how your credit score is calculated and tips for improving your credit score at our Credit Score Information Hub.

    At least half of our customers will receive the representative rate or lower. It may not be the actual rate you receive.

    Your interest rate may be different and is based on a number of factors, including your credit history, the information you provide and our assessment of your application. We'll confirm your interest rate upon submission of your application.

    ^ You may be eligible for same-day funding if you’re approved, accept your contract and complete verification by 4pm Monday to Friday (Sydney/Melbourne time). Subject to credit checks and assessment of your financial situation. Unavailable if an application is incomplete or needs to be referred for a more detailed review by a lending specialist, or if required documentation isn’t provided, and subject to system availability.

    WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

    Applications for finance are subject to the Bank’s normal credit approval. View the Personal Loan Terms and Conditions. Full terms and conditions will be included in our loan offer. Fees and charges payable. Commonwealth Bank of Australia ABN 48 123 123 124. Australian credit licence 234945.