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Personal loans / Fixed Rate personal loan

Why choose a CommBank Fixed Rate Personal Loan?

Enjoy certainty & control

Receive a fixed interest rate over the life of your loan. Know exactly how much your repayments will be.

Personalised rates

Get your personalised rates in minutes without affecting your credit score.

Same day funding2

Complete the online application in about 15 minutes, with a response in as little as 60 seconds. Receive the funds on the same day you apply (if eligible).2

At a glance

  • What you’ll get

    • Repayment certainty with a fixed rate
    • A loan amount between $4,000 - $50,000
    • Loan term between 1 – 7 years
    • Access to weekly, fortnightly or monthly repayment frequencies
    • No security required

  • Trade-offs

    • No access to redraw
    • May be subject to fees when making unlimited additional repayments1

    Not sure which loan is right for you? Check out our other personal loan options

Rates & fees

Rates

Rate type
Interest rate
Fixed rate
Range: 7.75% p.a.3 to 19.75% p.a.
Representative rate: 15.50%4 p.a.
Discounted fixed rate for eligible energy-efficient purchases
Range: 7.00% p.a. to 8.49% p.a.*
Comparison rate**
Range: 9.15% p.a.3 to 21.05% p.a.
Representative rate: 16.83%4 p.a.
Comparison rate on eligible energy-efficient purchases**
Range: 8.41% p.a. to 9.88% p.a.

Fees

Fee type
Definition
Amount
Establishment fee
Upfront cost payable when accepting a loan
$250
Loan service fee
Monthly charge to cover costs of keeping account active
$15 per month

Some additional fees, including a late-payment fee and other electronic banking fees, may also apply. See more

Get started

  • Apply: Fill in the online form. We’ll ask you some details and you’ll get a response within 60 seconds after you submit your application.
  • 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.

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

  • Be over 18 years old
  • Be eligible to work in Australia
  • Live in Australia
  • Be an Australian or New Zealand citizen, Australian permanent resident or hold an eligible visa
  • Be employed or receive regular income
  • Have a good credit rating
  • Not be going through the process of bankruptcy

During the application process, we may ask you for some documents. These may include:

  • Proof of ID if you’re a new customer​
  • Passport details if you’re on a visa
  • Proof of income if your application is approved and your salary is not paid into a CommBank account
  • Debt with other financial institutions if you have any and your application is approved
  • If you’re applying for a Secured Personal Loan to purchase a car, we’ll ask you for some documents relating to the car you’re purchasing
  • For more detailed information on the documents you may need to provide, see here

Resources to get you started

How do fixed and variable rate personal loans differ?

Keep reading

What you’ll need when applying for a Personal Loan

Keep reading
Tips for getting approved
Message us

We can help

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 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.

    2 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, if required documentation isn’t provided and subject to system availability.

    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 are payable.

    Following the fixed rate period, if your loan hasn’t been repaid in full, the Standard Variable Rate will apply which is currently 16.00% p.a. This interest rate is effective as of 1 March 2024.

    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 7.75%3 p.a. to 19.75% p.a. (comparison rate from 9.15% p.a. to 21.05% p.a.). The estimated total amount payable including fees is between $37,433 and $48,589
    • The representative rate is 15.50%4 p.a. (16.83% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $44,446

    3 Interest rates at the lower end of our range, for example 7.75% p.a. (comparison rate 9.15% 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.

    4 At least half of our approved customers will receive the representative rate or lower.

    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.

    ** The comparison rate is based on a $30,000 unsecured fixed rate loan over 5 years. 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.

    * Eligibility criteria, terms and conditions apply. Visit our Personal Loans page to find out more about the energy-efficient discount.

    An upfront fee of $250 and ongoing monthly fee of $15 will apply - consider these fees when deciding whether this loan suits your needs.

    ^^ Our repayment calculator will estimate your repayments based on the Bank’s representative rate and your selected loan amount, loan term and loan type.

    Calculations are not a quote or pre-approval. Your actual interest rate and repayment amount will depend on a range of factors including the information you provide and our assessment of your application. We'll tell you your actual interest rate and repayment amount if we approve your application. You can then decide whether to accept our offer.

    Terms and conditions, fees and charges and credit criteria apply.