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)^.

Choose a personal loan that’s right for you

Fixed Rate Loan

Features
  • Fixed interest rate and repayments for the term of the loan
  • Make additional repayments, subject to an early repayment adjustment1
  • Borrow from $4,000 to $50,000 over a term of one to seven years
Rates
  • Interest rates: 8.00% p.a.2 to 20.00% p.a. (comparison rate: 9.40% p.a. to 21.30% p.a.)
  • Representative rate: 15.50%3 p.a. (comparison rate: 16.83% p.a.)
Fees
  • $250 establishment fee
  • $15 monthly loan service fee
  • Other fees may apply, e.g. early repayment fee. See more

 

 

Variable Rate Loan

Features
  • Make additional repayments or close your loan without incurring any fees
  • Redraw available funds through your redraw facility
  • Borrow from $4,000 to $50,000 over a term of one to seven years
Rates
  • 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.)

Fees

  • $250 establishment fee
  • $15 monthly loan service fee
  • Other fees may apply, e.g. late payment fee. See more

 

 

Secured Personal Loan

Features
  • You could unlock a lower rate by using the car you’re buying or a car you own outright as security
  • Make additional repayments, subject to an early repayment adjustment1
  • Borrow from $4,000 to $120,000 over a term of one to seven years
Rates
  • Interest rates: 6.49%2 p.a. to 10.49% p.a. (comparison rate: 7.90% p.a. to 11.86% p.a.)
  • Representative rate: 8.49%3 p.a. (comparison rate: 9.88% p.a.)

Fees

  • $250 establishment fee
  • $15 monthly loan service fee
  • Other fees may apply, e.g. early repayment fee. See more

 

 

Not sure how much you can borrow for a personal loan?

Use our borrowing power calculator, and quickly and easily get a better understanding of:

  • How much you could borrow for things like a car, holiday, to consolidate your debt and so much more
  • What your repayments might look like
  • The different loan options which may be available to you

 

Get Started

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

Unlock potential savings with energy-efficient products for your home

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

Tools & calculators

  • 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

  • Help me choose

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

    Use selector

  • 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

Not sure which personal loan is right for you? 

Get on the road sooner with your next car

Browse cars, apply for finance and get the most from your car. And you can enjoy special offers for CommBank customers.

Explore cars

Support with purchases to help make your home more energy-efficient

Get a discounted interest rate on eligible energy-efficient purchases starting from 7.00% p.a. on Unsecured Fixed (Comparison rate 8.41% p.a.), 7.50% p.a. on Unsecured Variable Rate loans (Comparison rate 8.90% p.a.) and 5.99% p.a. on a Secured loan (Comparison rate 7.41% p.a.).

Discover energy-efficient 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

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.

    1 Additional repayments made on fixed rate and secured personal loans are not available to be redrawn. An early repayment adjustment is charged if loan is fully repaid with 12 or more months remaining on loan term, and we reasonably estimate we will incur a loss or administrative cost. 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 8.00%2 p.a. to 20.00% p.a. (comparison rate from 9.40% p.a. to 21.30% p.a.). The estimated total amount payable including fees is between $37,648 and $48,839
    • The representative rate is 15.50%3 p.a. (16.83% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $44,446

    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 6.49%2 p.a. to 10.49% p.a. (comparison rate from 7.90% p.a. to 11.86% p.a.). The estimated total amount payable including fees is between $36,361 and $39,830
    • The representative rate is 8.49%3 p.a. (9.88% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $38,071

    Interest rates at the lower end of our range, for example 8.00%/8.50%/6.49% p.a. (comparison rate 9.40%/9.89%/7.90% 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.

    To find out more details about the award CommBank has received from Canstar, please go to https://www.canstar.com.au.

    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.