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Variable Rate Personal Loan

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Why choose our Variable Rate Personal Loan?

Choose the term and repayment frequency

Pay weekly, fortnightly or monthly over one to seven years.

Manage your loan anywhere and at any time

Make repayments and keep track of your loan in NetBank and the CommBank app.

Make extra repayments without a fee

Paying down your loan faster can save you interest.

Here's what you get

A loan of up to $50,000

Borrow from $4,000.

Flexibility to redraw your extra repayments

Quick and convenient access to your additional repayments when you need extra money.

Same day funding

If you apply and are approved before midday Monday to Friday (Sydney/Melbourne time).#


Already a customer banking online with us?

Save time by using your NetBank details. 


Apply in NetBank

New customer or don't bank online with us?

Apply online


Rate type

Interest Rate

Variable rate

From 13.90% p.a.

Comparison rate

From 14.77% p.a.* based on an unsecured $30,000 loan over five years

Things you should know

  • Your interest rate will be based on a number of factors, including the information you provide and our assessment of your application. We will confirm your actual interest rate in your loan offer document
  • *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.

Fee type



Establishment fee

Upfront cost payable when accepting a loan


Loan service fee

Monthly charge to cover costs of keeping account active

$10 per month

An upfront fee of $150 and ongoing monthly fee of $10 will apply, please 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

If you have Student Options, you're eligible for discounts on a range of products, including personal loans. 

Save time, apply online. It's safe & easy!

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

Tell us a bit more about you and your finances.

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

If you're approved, accept your contract and upload required suporting docs. New customers will need to pop into a branch for an ID check.

How to apply

Applying for a personal loan is quick and easy. Choose one of the options below:


Already a customer banking online with us?

Save time by using your NetBank details. 


Apply in NetBank

New customer or don't bank online with us?

Apply online


Call us on 13 14 31 8am – 8pm, 
seven days (Sydney/Melbourne time)

Didn’t find what you were looking for?

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

Use selector

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

Use calculator

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

Use borrowing calculator

Other lending options

Fixed Rate Loan

Interest is fixed for the life of the loan, which means set repayments and protection from interest rate rises.

See more

Secured Car Loan

Use your new car as security to borrow at a lower rate than an unsecured personal loan.

See more

Personal Overdraft

Be ready to manage life’s little emergencies at any time.

See more

Things you should know

Apply and fund a new Unsecured Fixed Rate Personal Loan by 3 December 2017 to receive a 1% p.a. discount on your approved interest rate. 

Unsecured personal loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on an unsecured loan of $30,000 borrowed for 5 years are as follows:

  • with the minimum interest rate for a variable rate loan of 13.9% p.a. (14.77% p.a. comparison rate) or with the minimum interest rate for a fixed rate loan of 11.99% p.a. (12.87% p.a. comparison rate), the estimated total amount payable including fees is $42,540 or $40,781 respectively; and
  • with the maximum interest rate for a variable rate or fixed rate loan of 18.9% p.a. (19.74% p.a. comparison rate), the estimated total amount payable including fees is $47,344.

# Apply before noon Monday to Friday, and if you’re approved, we’ll give you access to your loan that day. Unavailable for secured loans, 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 (PDF 284kb). Full terms and conditions will be included in our loan offer. Fees and charges are payable.