What you’ll need when applying for a Personal Loan

A CommBank Personal Loan can help you move forward when you need to buy a car, consolidate your debt, improve your home, go on a holiday, get married and much more. Before you consider a Personal Loan, ensure this is the right product for your situation.

Also, check out our tips for increasing the likelihood of getting your Personal Loan approved, and whether you meet our eligibility criteria before you start.

Applying online for a CommBank Personal Loan can be quick and easy if you have some documents on hand before starting the application, as well as preparing other documents for verification if your application is approved. This page is a helpful guide to assist you with this process. You may not need to provide all the documents listed in this guide; only those that fit your individual situation and whenever it is required for us to verify your personal, financial or security (for Secured Personal Loans only) details.

Identification

How much proof of ID you need to prepare will depend on whether you’re a new or existing CommBank customer.

New customers

If you're a new customer you'll need to provide one of the following forms of ID online:

• Australian driver's licence
• Australian birth certificate
• Passport
• Medicare card
   

If you don’t have any of the ID options above, you can visit your local branch with any two of the following:

• Birth certificate
• Citizenship certificate
• Pension card or health care card issued by Centrelink
• Household bill, e.g. rates, phone, or electricity bill.

Non-residents

If you're not a citizen or permanent resident of Australia, you'll need to provide your passport number for us to confirm your visa details.

If you're on a visa with no expiry date, you'll also need to provide us with a copy of your Grant Notice. If you don’t have this on hand, you can download your visa details from the Visa Entitlement Verification Online system (VEVO).

The following visa types are ineligible for a Commbank personal loan application:

Working holiday visas

• 417 – Working Holiday visa
• 462 – Work and Holiday visa

Studying, graduate and research visas

• 590 – Student Guardian visa

Temporary business visas

• 400 – Temporary Work (Short Stay Specialist) visa

Family & spousal visas

• 870 – Sponsored Parent (Temporary) visa

All other visa types

• 010, 020, 030, 040, 050, 051 – Bridging visa
• 600 – Visitor visa
• 601 – Electronic Travel Authority
• 602 – Medical Treatment visa
• 651 – eVisitor visa
• 771 – Transit visa
• 785 – Temporary Protection visa
• 790 – Safe Haven Enterprise visa
• 942 – Crew Travel Authority
• 988 – Maritime Crew visa
• Special Purpose visa

For eligible visa holders

• Your visa expiry date must be at least one month after the end of your loan term.
• We may still conduct additional verification checks before we fully approve and fund your loan.

If your application is approved and your salary is not paid into a CommBank account, we may need you to provide proof of your income.

Please have the following documents ready on hand, depending on your individual employment situation outlined below.

Note: all documents must always clearly show your full name, along with any additional requirements listed below. 

Full-time and part-time PAYG employees

Please provide us with any one of the following documents:

1.      Payslips

Your two most recent payslips clearly showing employer details and net income. Depending on your pay cycle, the most recent payslip must be within the following timeframe:

• Weekly – within the past 10 days
• Fortnightly – within the past 20 days
• Monthly – within the past 40 days.
   

2.      Bank statement or transaction listing clearly showing three months' worth of salary credits. Depending on your pay cycle, your most recent salary credit must be within the following timeframe:

• Weekly – within the past 10 days
• Fortnightly – within the past 17 days
• Monthly – within the past 33 days.
   

3.      Employment letter or employment contract and PAYG payment summary, tax return OR tax assessment notice

• Any one of the following, clearly showing your employer and income details (or hourly rate and minimum hours), start date and end date (if you’re on a fixed term contract):
  • Your employment contract, OR
  • Letter of employment
    

AND

• Either:
  • Your most recent PAYG payment summary, OR
  • Tax return, OR
  • Tax assessment notice (less than 18 months old) marked as 'tax ready'.
     

4.      If you’ve started a new job in the past two months, please provide us with both of the following:

• Any one of the following, clearly showing your employer and income details (or hourly rate and minimum hours), start date and end date (if you’re on a fixed term contract):
  • Your employment contract, OR
  • Letter of employment

AND

• Either:
  • Your most recent bank statement or transaction listing clearly showing the income you receive, OR
  • Your most recent payslip clearly showing your employer details and net income.

Casual employees

Please provide us with any one of the following documents:

1.      Payslips

• Three months' worth of payslips clearly showing your employer details and net income. Depending on your pay cycle, the most recent payslip must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days.
     

2.      Bank statement or transaction listing clearly showing three months' worth of salary credits. Depending on your pay cycle, your most recent pay must be within the following timeframe:

• Weekly – within the past 10 days
• Fortnightly – within the past 17 days
• Monthly – within the past 33 days.
   

3.      PAYG payment summary, tax return OR tax assessment notice AND payslip

• Any one of the following:
  • Your most recent PAYG payment summary, OR
  • Tax return, OR
  • Tax assessment notice marked as 'tax ready',

AND

• One most recent payslip clearly showing your employer details and net income.
   

4.      Employment letter OR employment contract AND PAYG payment summary, tax return OR tax assessment notice

• Any one of the following, clearly showing your employer and income details (or hourly rate and minimum hours), start date and end date (if you’re on a fixed term contract):
  • Your employment contract, OR
  • Letter of employment

AND

• Either:
  • Your most recent PAYG payment summary, OR
  • Tax return, OR
  • Tax assessment notice (less than 18 months old) marked as 'tax ready'.
     

5.      If you’ve started a new job in the past three months, please provide us with both of the following:

• Either:
  • Your most recent PAYG payment summary, OR
  • Tax return, OR
  • Tax assessment notice marked as 'tax ready'

AND

• Either:
  • Your most recent bank statement or transaction listing clearly showing the income you receive, OR
  • Your most recent payslip clearly showing your full name, employer details and net income.
    

Self-employed individuals

You are only able to use self-employed income if you've been running a business for at least 12 months (across one or more ABNs). If your time in business is less than 12 months, please refer to the PAYG income section above: Full-time and part-time PAYG employees. 

Please provide us with one of the following, depending on your circumstance:

• If you've been running a business for at least 12 months, you’ll need to provide either:
  • Your most recent personal tax return, OR
  • Notice of assessment (less than 18 months old) clearly showing your ABN/ACN.
• If you receive multiple sources of income, you'll need to provide your tax return instead.
• If your tax return for the latest financial year isn't available yet, please provide a letter from your accountant (less than 90 days old) clearly showing your annual taxable personal income from the most recent financial year and your accountant's ABN.

If you receive government benefits

We accept the following types of pensions, payments and allowances received from the government:

• Age Pension
• Veteran Affairs Pension
• Disability Support Pension
• Family Tax Benefit Part A and B
• Carer’s Income
• Parental Leave Pay
• Rent Assistance
• Supplement Payments
• AUSTUDY
• ABSTUDY
• Youth Allowance

Please provide us with one of the following:

• Your bank statement or transaction listing clearly showing three months' worth of account credits (including the transaction description 'Centrelink' or similar). Depending on your payment cycle, your most recent account credit must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days

• Your Centrelink income statement clearly showing the income amount you receive. Depending on your payment cycle, your most recent income statement must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days.

If you receive child support and maintenance

Please provide us with both of the following:

• A child support agency letter, solicitor's letter or a family law court order clearly showing the income you receive, the frequency of payments and the age of the child/children, 

AND

• Your bank statement or transaction listing clearly showing three months' worth of account credits including the transaction description 'child support' or similar. Depending on your payment cycle, your most recent account credit must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days.

If you receive rental income

Please provide us with one of the following:

• A bank statement or transaction listing clearly showing three months' worth of rental credits (including the transaction description 'rent', 'rental', 'lease' or similar). Depending on your payment cycle, your most recent rental credit must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days.

• A letter or statement from the managing real estate agent (less than 90 days old) clearly showing the rental income you receive, any agent's fee or other deductions, the current tenancy status and a signature from the real estate agent.

If your rental property is new within the past three months, please provide us with both of the following:

• Your lease agreement clearly showing the rental income you receive, the lease period and a continuation clause (if the lease term has already lapsed), AND
• Your tax return (less than 18 months old) from the most recent financial year.

If you receive investment income

Please provide us with one of the following:

• A bank statement or transaction listing clearly showing three months' worth of returns (including the transaction description 'investment', 'dividend', 'share' or similar). Depending on your payment cycle, your most recent account credit must be within the following timeframe:
  • Monthly – within the past 40 days
  • Quarterly – within the past 4 months
  • Bi-annually – within the past 7 months
  • Annually – within the past 13 months.

• An investment letter or statement from the entity in which the funds are invested/managed clearly showing three months' worth of returns, the current value (balance) and income generated from the investment. Depending on your payment cycle, your most recent statement must be within the following timeframe:
  • Monthly – within the past 40 days
  • Quarterly – within the past 4 months
  • Bi-annually – within the past 7 months
  • Annually – within the past 13 months.

If your application is approved and you hold debts with other financial institutions (including Buy Now, Pay Later facilities with a set credit limit), you may need to provide us with one of the following:

• Your most recent bank statement clearly showing your debt repayments, OR 
• Account statement for your relevant debt from your other financial institution clearly showing your account number and your debt repayments or credit limit.

If you’re applying for a Secured Personal Loan, please refer to the additional documents listed below depending on your situation.

You will be asked to confirm that you have, or will have, comprehensive car insurance for the car that you are buying and using as security for the Secured Personal Loan before CommBank funds the Loan. Ensure that you have your name as policy holder or co-holder and CommBank as the interested party/secured finance provider.

If you’re buying a car from a dealership

Please provide us with the following:

• A tax invoice from the dealership clearly showing your name and address as per your loan application, the dealership's contact information and bank details, the car details, the purchase price and the outstanding balance (including any details of deposits being paid).

If you’re buying a car privately

Please provide us with both of the following:

• A completed Private Sales Invoice Form, including the seller's details (including their bank account details), the car details, purchase price and outstanding balance (including any details of deposits being paid), AND
• The car's certificate of registration showing the car details.

Energy-efficient purchase verification documents

If your application is for a energy-efficient purchase (including electric/hybrid car, solar panels, batteries or other eligible renewable products):

Please provide us with a tax invoice or quote, in your name, from your retailer and/or installer (on a company letterhead) showing: 

• Purchase amount (equal to or greater than the loan amount)
• Retailer and/or installer details; and  
• Itemised system details for the eligible clean energy product(s) in line with the ‘Clean energy product eligibility’ below

If you’re buying an electric or hybrid car privately

• and you are applying for an unsecured personal loan, instead of a tax invoice, you must provide a completed Private Sales Confirmation form including the seller and the car’s details.

Energy-efficient product eligibility

• Electric or hybrid car emitting less than 120g CO2 emissions per kilometre (check your car’s emission data on the Green Vehicle Guide)
• Solar panels with a system size equal to or greater than 6 kilowatts (kW) (and inverter if applicable)
• Battery packs with a system size equal to or greater than 5 kilowatt-hour (kWh) 
• Solar hot water system with a minimum system size equal to or greater than 250 litres (L)
• Heat pump hot water system with a system size equal to or greater than 250L
• Electric car charging station(s)
• Switching from gas to electric cooking equipment (products must be all-electric and may include induction cooktop, electric element cooktop, electric oven, electric steam oven)
• Enabling components to support solar PV and batteries
• Smart/connected home products (for example smart thermostats, hot water control, lighting control, smart plugs for appliances and equipment control, home automation systems for the purpose of improving energy efficiency)
• Energy-efficient window treatments
• LED lighting
• Virtual power plants.

Medical education verification documents

If your application is for medical education purposes: 

Please provide us with an enrolment document or tax invoice (on a college/institution letterhead) showing: 

• You are enrolled in an education program at a CommBank approved college or institution
• Name and details of the college/institution. For more, see this list of CommBank approved colleges and institutions 
• Cost of the course(s) (total must be equal to or greater than the loan amount)