Rating based on 15 reviews

Commonwealth Bank Personal Loan

  • Personal loans up to $50,000
  • Low-interest starting from 12.99%
  • Repayment up to 7 years

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Commonwealth Bank homepage
Author Commonwealth Bank. Screenshot of Commonwealth Bank website.
[Accessed May 2, 2023]

Commonwealth Bank - You are their top priority

Commonwealth Bank has been a financial service provider of choice for many years.

They have gone out of their way to ensure that customers get the best personal and car loan deals that are affordable all year round.

Health and safety policy

At Commonwealth Bank, one of their best resources is their employees. As such, they take extra care as far as their health and safety are concerned. They will never take their lives for granted and they have established great deals of risk management because they believe they are what Commonwealth Bank is made of. Their employees are the driving force behind their services and personal loan products and without them, they wouldn’t have become the successful financial brand that they have come to be today.

Their health and safety policy is a guideline where they as the Commonwealth Bank commit themselves to the safety of employees, visitors, contractors and employers. The commitment comes with a set of implementations they have listed that they will put in place to ensure that the health and safety of everybody setting foot on their premises are protected. Since they don’t want any incidents happening on their watch, they have put measures in place even before the accident occurs. This way, they have already drawn up remedial actions and have put certain plans in place in the event of an accident.

Ultimately, they can’t achieve all these plans they have established if they don’t have the support of lower management and ground-level employees. Teamwork is better than individual commitment.

Loan amounts between $4,000 and $50,000

Clients are required to apply for a personal loan online. The online application is nothing out of the ordinary. The customer is required to furnish them with his personal details, employment information and salary information.

This information is gathered so that they can have a better idea about the kind of client they are dealing with.

Since they deal with a lot of customers, they have come to realise that some people like having a few tricks up their sleeve and as such, they have had to be extra cautious when they are gathering information because some clients have a tendency about lying about their personal details or omitting the most crucial information.

Verification documents of the client

After you have applied for the long or short term loan, you will have to submit your supporting documents. The supporting documents you submit to us have to correspond with the information you completed in your application form.

If they find that there are some discrepancies between the information you submitted on your personal loan application and the documents you have to submit, they will contact you and find out the reasons behind the difference because everything should be synced.

The money will be deposited in your bank account

If they find that everything is in the clear and every information corresponds, they will send the money to your bank account after you have electronically signed for the quick loan. If you haven’t signed for the contract, the amount will remain with them until you do.

Commonwealth Bank – Personal loan

  • Loan Type Personal loans
  • Interest Rate 12.9913.90% p/a
  • Loan Amount up to $50,000
  • Repayment 1 year to 7 years

Benefits of Commonwealth Bank

  • Secured loan options
  • Insurance
  • Reliable and affordable personal finance

Personal loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This personal loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Commonwealth Bank - Choose between their wide range of loan options

Abiding by the terms and conditions

The terms and conditions you are given as a client should be taken quite seriously because failing to follow them will mean you may end up having bad credit due to failure to adhere to your financial obligations.

The first thing you need to understand is whether or not you will be able to pay for a personal loan. If you not quite sure that you will have the money in some months, you might want to reconsider the necessity of a personal loan. As much as a personal loan is about helping you out during a difficult time, it will not benefit you if you are only seeking an advance for now, but you have no plan how you going to ensure that your loan is paid.

The difference between a fixed-rate loan and variable rate loan

Fixed-rate loan: This type of loan doesn’t change. The client can also borrow between $4000 and $50 000. However, the client has to borrow the exact amount he needs and nothing more so that he can ensure that he repays the advances quicker.

Variable-rate loan: with the variable loan, the client has the option of making additional payments without incurring any fees. Similar to the fixed-rate loan, the customer can loan an amount of $4000 and a maximum of $50 000. Please note that we do not offer bad credit loans.

Personal loan repayment calculator

When you make a calculation of a personal loan prior to applying for it, you will have an idea of how much you can pay. However, it is important to remember that the calculation is only an estimation and it may not be exactly the figures you predicted.

Contact them

Call them at any time of the day and they will be more than happy to assist you with an emergency loan or any other form of finance you may require. 

By calling the numbers below, you have the opportunity of talking to one of their consultants who will explain every loan query in more detail. You can also make an appointment and come to their offices if you want them to explain everything more clearly.

Call: 13 1431 between 8 am – 8 pm Sydney and Melbourne time.

man holding thumbs up

Commonwealth Bank is a trusted & reliable provider of personal loans

In our review, Commonwealth Bank adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, where the granting the loan will not cause financial distress to the consumer.

✅ Commonwealth Bank is a registered credit provider in Australia: ACL 234945

Customer Reviews & Testimonials

Fast and flexible personal loan options that are easy to manage.

Andrew L
— Melbourne —

I was able to apply for my personal loan all online in just a few simple steps, it didn’t even take 10 minutes!

Alma H
— Adelaide —

Commonwealth Bank Contact

Physical Address

  • Tenancy 1, Ground Floor 190-200 George St Sydney NSW 2000 Australia
  • Get Directions

Opening Hours

  • Monday 09:30 – 16:00
  • Tuesday 09:30 – 16:00
  • Wednesday 09:30 – 16:00
  • Thursday 09:30 – 16:00
  • Friday 09:30 – 17:00
  • Saturday – Closed
  • Sunday – Closed