Personal loans

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 and fund an Unsecured Fixed Rate or Unsecured Variable Rate Personal Loan between 5 November 2024 and 25 February 2025 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.

^#For the EV Access Program (EVAP) essential workers are individuals employed as teachers/instructors, medical/veterinarians, government officials and care workers.

^##You must be buying an electric or hybrid vehicle emitting less than 120g of CO2 per kilometre with a total loan amount of less than or equal to $55,000.

¹ Additional repayments made on fixed rate and secured personal 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. View the Personal Loan Terms and Conditions.  

Your interest rate is based on a number of factors, including the information you provide and our assessment of your application. We'll confirm your interest rate in your loan offer document.

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 8.00%² p.a. to 20.00% p.a. (comparison rate from 9.04% p.a. to 20.89% p.a.). The estimated total amount payable including fees is between $37,398 and $48,589
• The representative rate is 15.50%³ p.a. (16.44% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $44,196

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 9.53% p.a. to 21.39% p.a.). The estimated total amount payable including fees is between $37,830 and $49,091
• The representative rate is 16.00%³ p.a. (16.94% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $44,673

Secured Personal Loan interest rate ranges and the representative rates are set out below. Comparison rates and examples are based on a $30,000 secured loan over 5 years:

• Interest rates range from 6.49%² p.a. to 10.49% p.a. (comparison rate from 7.90% p.a. to 11.86% p.a.). The estimated total amount payable including fees is between $36,361 and $39,830
• The representative rate is 8.49%³ p.a. (9.88% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $38,071

² Interest rates at the lower end of our range, for example 8.00%/8.50%/6.49% p.a. (comparison rate 9.04%/9.53%/7.90% 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 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.

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

To find out more details about the award CommBank has received from Canstar, please go to https://www.canstar.com.au.

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.

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 payable. Commonwealth Bank of Australia ABN 48 123 123 124. Australian credit licence 234945.