Save $250 on a Secured Personal Loan

We’ve put the brakes on establishment fees

We’ve made it even easier to buy and own your next car, with no establishment fee on Secured Personal Loans.

Available for a limited time only when you apply for and fund a Secured Personal Loan between 4 June 2024 and 27 August 2024.~

couple driving a car

Why choose a CommBank Secured Personal Loan?

Use your car as security

By using your current car or one you’re planning to buy as security, your rate could be lower than an unsecured loan.1

A competitive interest rate

Know you’re getting a personalised rate that suits your financial situation. We’ll also give you a fixed rate over the life of your loan.

Applying is quick & easy

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).^

Features & benefits

  • A loan amount that works for you

    Choose a loan amount between $4,000 and $100,000, depending on the value of the car. You may be able to borrow up to 120% of the car’s value using your existing car as security.2

  • Flexible repayment options

    Select a repayment frequency to suit you – weekly, fortnightly or monthly from one to seven years. You can also make additional repayments of up to $1,000 per year.3

  • Perfect for many loan purposes

    Use your Secured Personal Loan to buy a car, make home improvements, pay for education expenses and much more.

All the ways you can use a CommBank Secured Personal Loan


Buy your dream car, whether it’s new or used (up to seven years old)

Find out more

Electric vehicle

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


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

Find out more


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

Purpose of the loan

  • Buying a car

    A Secured Personal Loan can be used for buying a new or used car up to seven years old that doesn’t have any finance owing on it. The amount can be for the full or partial purchase price depending on whether you’ve paid a deposit. You’re unable to borrow for additional loan purposes (e.g. a car for $20,000 and furniture for $5,000 is not accepted) when buying a car.

  • All other loan purposes

    If you’re not buying a car, a Secured Personal Loan can be used for multiple loan purposes where you are able to provide your existing car that’s up to seven years old, comprehensively insured and doesn’t have any finance owing on it as security for the loan. 

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

Considering loans? 

Find out more about Variable Rate or Fixed Rate personal loans.

Find out more about the difference between secured and unsecured loans

What does security mean?

  • A secured personal loan is a loan guaranteed by an asset, such as a car. The lender uses this asset as security, which means that if you don’t make the agreed repayments the lender can take possession of the asset and sell it to cover the cost of the loan. This security means that the lender can offer a lower interest rate for the loan.

Support with purchases that make your home more energy-efficient

Thinking about buying an electric car or solar panels?

We’ll help you make energy-efficient purchases with a discounted rate of 6.49% p.a. Comparison rate is 7.55% p.a. Eligibility criteria apply.

Discover energy-efficient discounts

Rates & fees


Rate type
Interest rate
Fixed rate
Range: 6.99%4 p.a. to 10.99% p.a.
Representative rate: 8.99%5 p.a.
Discounted secured rate for eligible energy-efficient purchases
6.49% p.a.**
Comparison rate*
Range: 8.04%4 p.a. to 11.99% p.a.
Representative rate: 10.01%5 p.a.
Comparison rate on eligible energy-efficient purchases* 
7.55% p.a.

Things you should know

Interest and comparison rate warning

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 secured 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. To find out more read our Go Green with a Personal Loan guide.


Fee type
Establishment fee
Upfront cost payable when accepting a loan
$0 (save $250)
Loan service fee
Monthly charge to cover costs of keeping the account active
$15 per month

An upfront fee of $0 and ongoing monthly fee of $15 will apply, consider these fees when deciding whether this loan suits your needs. Some additional fees, including a late-payment fee, government charges and other electronic banking fees may also apply.

Tell me more

Message us 24/7

Get instant help from Ceba in the CommBank app or connect with a specialist who can message you back. You’ll need CommBank app notifications turned on so you know when you’ve received a reply. 

Message us

Get help

How to apply

Apply online and get a response within 60 seconds. 

Alternatively, call us on 13 1431, 8am to 7pm, Monday to Friday and 9am to 2pm on Saturday (Sydney/Melbourne time) or visit your local branch.

Apply now

1. Explore

Tell us what you want the loan for and explore your loan and repayment options.

2. About you

Tell us about you and your finances.

3. Review and submit online

Once we have your application we'll review it and give you a response within 60 seconds.

4. Upload documents & fund your loan

If you’re approved, accept your contract and upload required supporting docs. New to bank customers may need to visit a branch for an ID check.

Not sure which personal loan is right for you?

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

Tools & calculators

  • How much can I borrow?

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

    Use borrowing calculator

  • Repayments calculator

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

    Use 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

Things you should know

  • Secured Personal Loan was formerly known as Secured Car Loan.

    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.

    Offer available for a limited time. Apply for and fund a Secured Personal Loan between 4 June 2024 and 27 August 2024 to save $250 on the establishment fee (comparison rate calculations are inclusive of this offer).

    We reserve the right to close or vary this offer at any time.

    1 The car you’re using as a security must be up to seven years old, not currently under finance and has an active comprehensive insurance policy. The comprehensive insurance policy must be organised prior to loan funding.

    2 Your borrowing capacity depends on a range of factors such as your credit score.  

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

    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 Secured Personal Loan Benchmark Rate will apply which is currently 6.99% p.a. This interest rate is effective as of 14 October 2019.

    Secured Personal Loan interest rate ranges and the representative rate 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%4 p.a. to 10.99% p.a. (comparison rate from 8.04% p.a. to 11.99% p.a.). The estimated total amount payable including fees is between $36,534 and $40,027
    • The representative rate is 8.99%5 p.a. (10.01% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $38,256

    4 Interest rates at the lower end of our range, for example 6.99% (comparison rate 8.04%), 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.

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

    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 early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may change the cost of the loan.

    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.