Help & support
Available for a limited time when you apply and fund an Unsecured Fixed Rate or Unsecured Variable Rate Personal Loan between 05 November 2024 and 25 February 2025~
Know you’re getting a rate that is personalised according to your circumstances.
Complete the online application in about 15 minutes, and get a response in 60 seconds.
Choose a loan amount from $4,000-$50,000 for an unsecured personal loan, and up to $120,000 if you use the car you’re buying as security.
If you’re an existing customer, manage your finances under one roof to easily track your commitments.
Use our borrowing power calculator, and quickly and easily get a better understanding of:
Browse cars, apply for finance and get the most from your car. And you can enjoy special offers for CommBank customers.
Secure your new wheels and get on the road sooner with a CommBank Personal Loan.
A CommBank Personal Loan help you get your dream car, whether you’re looking to:
Consider things such as make and model to find a car that suits your needs. Also think about other things like size, fuel efficiency and the safety features.
You can do this by visiting dealerships, browsing online marketplaces or considering private sellers.
Arrange for a car inspection with the seller. Inspect the car or have a trusted mechanic perform a pre-purchase inspection. Look for any signs of damage or mechanical issues. You can even order a vehicle history report online.
Decide how you’ll pay for the car. Common methods include using a personal loan, leasing the car, cash or a combination of these. If you’re looking to take out a loan, you can do so by applying online.
Discuss the best price you can purchase the car you’re interested in. Make sure to compare prices across various sellers, and be prepared to walk away if the price is outside your budget.
Once you’ve decided which car you’d like, arrange for the purchase of the vehicle. Ensure you’re comfortable with the terms of the sale, whether you’re buying from a dealership, online marketplace or private seller.
Ensure you car is adequately insured prior to driving away in your new car. Complete any transfer of ownership forms and visit your local vehicle authority to have the vehicle registered under your name.
Once everything is in order, you can drive away in your new vehicle.
Apply online. It will take about 15 minutes and we’ll ask you some details.
After you submit, we’ll give you a response in 60 seconds.
If approved, we’ll send you a contract to accept if you’re happy with the terms.
We may ask you for some additional documents.
To be eligible to apply for a personal loan, you must:
Repayment calculator
Understand what your repayments will be. Adjust the term and the amount to meet your budget.
Yes, approvals are valid for 60 days. If you need more time before finalising the purchase of your vehicle, we can look to extend your approval on expiry.
If the car you’re buying is greater than seven years old, you won’t be able to secure the car you’re buying – you’ll need to take out an Unsecured Personal Loan. If the car you’re looking to buy is less than seven years old, you will be able to secure it.
Yes – we provide a discount on the interest rate for eligible electric or hybrid vehicles. See more here.
~ 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.
This guide doesn’t consider your individual objectives, financial situation or needs. Before basing any decisions on this information, please consider:
1 Additional repayments made on a fixed rate and secured personal loan 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.
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:
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:
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:
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 that 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 when you submit your application.
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.
