Rating based on 12 reviews

Commonwealth Bank Personal Loan

  • Personal loans up to $50,000
  • Low-interest starting from 14.77%
  • Repayment up to 7 years

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Commonwealth Bank homepage
Author Commonwealth Bank. Screenshot of Commonwealth Bank website.
[Accessed May 24, 2023]

About Commonwealth Bank

Commonwealth Bank offers Australians competitive banking products, personal loans, a range of car and home loan products with exceptionally competitive interest rates and some of the county’s best superannuation and investment products.

One of the big four

Although many smaller lenders and banks will talk about how they are able to offer a more personalized service to their customers since they are smaller, there is also power in being one of the largest banks in the country.

The second largest bank

The Commonwealth Bank of Australia is the second largest bank in the country after NAB and is, therefore, able to offer customers certain benefits that other smaller players cannot.

Commonwealth Bank Services

When it comes to banking and lending products, Commonwealth bank has one of the largest range of offerings and also some of the most competitive.

If you’re looking to buy a car, save for your wedding, buy your first home or take out a personal loan for travel – they can offer you a competitive rate with a flexible product that meets your needs.

Their personal loans

Commonwealth Bank offers fast loans that offer anything from $5,000 to $50,000 and they offer both secured and unsecured loans. In addition, this bank allows you to choose either a fixed interest rate or a variable interest rate depending on your needs and financial situation.

Looking to finance a vehicle?

Finally, if you’re looking to purchase a vehicle, they have a specific car loan product which will be much more suitable for that purpose than their personal loans.

Commonwealth Bank – Personal loan

  • Loan Type Personal loans
  • Interest Rate from 14.77%
  • Loan Amount up to $50,000
  • Repayment 12 months to 7 years

Benefits of Commonwealth Bank

  • Flexible loan term up to 7 years
  • Quick loan payouts
  • Affordable interest rates from 14.77%
  • Personal loans up to $50,000

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.

Your problems can all be resolved with a few clicks of your mouse

Whether it’s premium banking, retirement solutions or insurance, Commonwealth Bank has the reach and products to serve your every banking and financial need – working with you to help you achieve your retirement goals or any financial goal you may have.

Commonwealth Bank is currently the bank of choice for many Australian corporate, large, medium and small businesses as their rates and terms on business loans and other business banking and cash flow solutions are flexible and can work for just about any industry.

Get an answer in 60 seconds

With Commonwealth Bank, you will get an automated response to your online loan application in just a minute after completing and submitting it. This means you do not have to wait around to get a reply – you’ll know where you stand quickly and easily.

What you’ll need to apply

In order to apply for a personal cash loan with the Commonwealth bank for any financial product, you have to be over 18, have Australian citizenship or residency and be able to prove that you can afford the product.

As a bank, when you apply with them you have to be clear of bankruptcy and have a good credit history and score to qualify. Apart from the comparison rate of 14.77% per annum that you should take into consideration, Commonwealth Bank will also charge a $150 application fee and a $10 monthly service fee which you should be aware of.

These benefits include:

  • Some of the lowest rate home, car and personal loans
  • Lower annual and monthly fees
  • Some of the highest returns on investments and savings
  • The latest and most advanced technologies
  • Products that actually meet your needs
  • 24 hour and international assistance
  • Dedicated agents across the country
  • A vast network of ATMs and branches
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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 Protection Act, 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

December 2018

Thanks to Commonwealth I was able to get the vehicle that I have had my heart set on for so long. Thank you for making the entire process simple and easy!

Stephen R
— Sydney —

February 2019

Commonwealth was highly recommended to me and I will now return the favour that was done for me. If you are looking for a good bank that cares about you and your finances look no further than Com...

Andrea S
— Perth —

April 2019

Commonwealth gave me the flexibility and versatility that I had always looked for in a loan all wrapped up in one affordable, competitive and fair package.

Nicky A
— Albany —

Commonwealth Bank Contact

Contact Number


  • not available


Physical Address

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