Why choose a CommBank Variable Rate Personal Loan?

Pay off your loan sooner

You’ll pay no fees for making additional repayments, which can help you save interest and pay off your loan sooner.

A competitive interest rate

Know you’re getting a personalised rate that suits your financial situation.

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).1

Features & benefits

  • A loan amount that works for you

    Choose a loan amount from $4,000 to $50,000 to buy a car, consolidate your debts, take a holiday or for your other goals.

  • Flexible repayment options

    Select a repayment frequency to suit you – weekly, fortnightly or monthly from one to seven years. You can also make unlimited additional repayments.

  • Redraw your available funds

    Enjoy quick and convenient access to any funds in your redraw facility whenever you need them. See more

All the ways you can use a CommBank Variable Rate Personal Loan


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

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

Live sustainably with an Unsecured Variable Rate Loan

Thinking about buying an electric car or solar panels? 

We’ll help you go green with a lower rate of 7.50% p.a. for eligible sustainable purchases. Comparison rate is 8.90% p.a.

Discover green discounts

Rates & fees


Rate type
Interest rate
Variable rate
Range: 8.50%2 p.a. to 20.50% p.a.
Representative rate: 16.00%3 p.a.
Standard Variable Rate
16.00% p.a.
Lower variable rate for eligible sustainable purchases
7.50% p.a.**
Comparison rate*
Range: 9.89%2 p.a. to 21.79% p.a.
Representative rate: 17.32%3 p.a.
Comparison rate on eligible sustainable purchases*
8.90% 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 unsecured variable 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. To find out more read our Go Green with a Personal Loan guide. 


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

An upfront fee of $250 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 and other electronic banking fees, may also apply. See more

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 give you a response within 60 seconds.

4. Funding your loan

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

Not sure which personal loan is right for you? 

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

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 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.

    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

    2 Interest rates at the lower end of our range, for example 8.50% p.a. (comparison rate 9.89% 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.

    3 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 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.