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14.40%
15.26%
$10.00
$150
14.15%
15.02%
$10.00
$150
The Commonwealth Bank might be one of Australia’s oldest and largest banks, but lately it’s determined to do things differently. The Commonwealth Bank reckons it’s focusing more on customer service and earning your business rather than counting on it. If you like the sound of that, then check out the Commonwealth Bank’s wide range of personal banking products, including term deposits, savings accounts, credit cards, home loans and personal loans.
Mozo People's Choice Awards. As voted by the Australian money public. Our Community of 23,000 reviewers gave this provider the thumbs up.
| Product Type | Overall | Price | Features | Service | Convenience | Trust |
|---|---|---|---|---|---|---|
| Commonwealth Bank personal loans |
6.4
Based on 225 Commonwealth Bank personal loan reviews |
5.4 | 5.1 | 6.9 | 8.0 | 6.6 |
Read Commonwealth Bank personal loan reviews by the Mozo community
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Awesome customer service and product structuring
I have an unsecured personal loan with CBA. From my initial contact with them it has been easy, just plain easy. The staff are helpful and explain everything in a way thats understandable and not misleading in any way. The interest rates are fairl... Full review
I have an unsecured personal loan with CBA. From my initial contact with them it has been easy, just plain easy. The staff are helpful and explain everything in a way thats understandable and not misleading in any way. The interest rates are fairly high at around 16.75% as you would expect on this type of loan, though some other lenders charge as high as 14.75% with the family car as collateral. With the current state of the global economy that could mean you lose your job, you lose your car and thats the reality that many of the people are facing right now. I ran into difficulties with my employment about 6 months ago which was has left me uncertain about my financial future but the Commonwealth team now provide the option to purchase income protection insurance at any point during the term of the loan which takes a massive load off my mind. They know times are tough and they seem to bend over backwards to ensure their customers are happy. I really can't say a bad word about the Commonwealth, on the phone, staff are friendly and helpful, I don't get placed in a lengthy queue. The same can be said for the tellers at the branch. The thing that I like most though, is the Netbank website. Its extremely user friendly and easy to navigate. It's even nice to look at compared to some other institution's websites and its all those little things that add up to make the whole banking experience worry free.
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Average rates and bad customer service.
I think that Banks need to begin appealing to the reason why people need loans. The return of investment is sometimes nonexistent due to ridiculously high interest rates over very long time spans. What needs to happen is a little more trust ... Full review
I think that Banks need to begin appealing to the reason why people need loans. The return of investment is sometimes nonexistent due to ridiculously high interest rates over very long time spans. What needs to happen is a little more trust from the Bank. Show us some gratitude for being a customer and we will stay just that for longer.
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Great customer service
When you call to make enquires about your accounts they always more than happy to help. They never force you to open an account or apply for a loan if you dont want to. Full review
When you call to make enquires about your accounts they always more than happy to help. They never force you to open an account or apply for a loan if you dont want to.
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Happy with everything.
Commonwealth bank totally lifted alot of stress of my shoulders as we took a personal loan to help with the wedding we had last year. I feel there is nothing to beware of as we are totally happy with the customer service we had. Full review
Commonwealth bank totally lifted alot of stress of my shoulders as we took a personal loan to help with the wedding we had last year. I feel there is nothing to beware of as we are totally happy with the customer service we had.
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The whole package leaves a lot to be desired
The loan itself is average in comparison compared to other market lenders. Interest rates are not at all competitive and their lack of flexibility leaves a lot to be desired. On the up side for CBA i found their online banking to be very user frie... Full review
The loan itself is average in comparison compared to other market lenders. Interest rates are not at all competitive and their lack of flexibility leaves a lot to be desired. On the up side for CBA i found their online banking to be very user friendly with a wide range of options at your deposit, being able to have full access to your funds 24/7 is a must in this day and age. Conclusion: CBA personal loans are not my cup of tea and are not recommended for anyone seeking competitive rates, flexibility and great customer service. Though an ordinary bank account could prove useful when linked with online banking.
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Always look out for the hidden charges, if any.
Personal loans can come in handy when you're struggling with your finances. But again, be aware of the rates that apply before you commit to a personal loan. Full review
Personal loans can come in handy when you're struggling with your finances. But again, be aware of the rates that apply before you commit to a personal loan.
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Great bank
Commonwealth bank was great to deal with when i was confused about which loan would best suit me. i was helped with no wait over the phone, and the money was in my account within 24 hours! love the commonwealth bank and would never switch to anoth... Full review
Commonwealth bank was great to deal with when i was confused about which loan would best suit me. i was helped with no wait over the phone, and the money was in my account within 24 hours! love the commonwealth bank and would never switch to another. phones are always answered quickly and they are knowledgeable and would go through them again for another loan.
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Good interest rates
I've had this loan for years and it's nearly paid off. I've never had any issues with my fees or interest rates.... Thanks Full review
I've had this loan for years and it's nearly paid off. I've never had any issues with my fees or interest rates.... Thanks
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Simply, Easy, Quick
Commonwealth Bank Personal Loan was quick and easy and completed all on the internet, loan documentation received and I love the concierge at the branch to direct you to your very own Personal Banking Manager to assist with loan sign up of documen... Full review
Commonwealth Bank Personal Loan was quick and easy and completed all on the internet, loan documentation received and I love the concierge at the branch to direct you to your very own Personal Banking Manager to assist with loan sign up of documentation. A++
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Reasonable interest rate and fees.
Staff are very greedy, and really only want to meet their targets. They try to talk you into borrowing additional funds that you don't require and can be quite pushy. Rates and fees are on par with other banks. Full review
Staff are very greedy, and really only want to meet their targets. They try to talk you into borrowing additional funds that you don't require and can be quite pushy. Rates and fees are on par with other banks.
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fantastic service, friendly staff, good product
My wife and i went in to the commonwealth bank at Elanora for a loan application. Upon entering we were greeted at the door by a staff member who offered us a seat on a comfy lounge and a cup of coffee. The service was second to none. I have neve... Full review
My wife and i went in to the commonwealth bank at Elanora for a loan application. Upon entering we were greeted at the door by a staff member who offered us a seat on a comfy lounge and a cup of coffee. The service was second to none. I have never seen this anywhere before not even new car dealerships are this good
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Always excellent Customer Service
I always weigh the pro's the pros and cons are and one thing I found with this Banks is that they have always approved all my persona loans on my ability to repay. Not just a money lending institution that grants every loan application. I also lik... Full review
I always weigh the pro's the pros and cons are and one thing I found with this Banks is that they have always approved all my persona loans on my ability to repay. Not just a money lending institution that grants every loan application. I also like the security of fixed secure interest rates.
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Great people, easy to deal with.
I like this product because I went into the Commonwealth bank after being turned down by every other bank imaginable, including the bank i was already banking with, and they said without hesitation sure we will help you and within a week i had the... Full review
I like this product because I went into the Commonwealth bank after being turned down by every other bank imaginable, including the bank i was already banking with, and they said without hesitation sure we will help you and within a week i had the money in my account. Best customer satisfaction a bank can give.
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Good product but payment options are too restricti
I am happy with the process that was involved in my application for my loan, but the major set-back of this product was the inflexibility to have the repayments made fortnightly, as that was the means in which I am paid. Instead, I had to choose m... Full review
I am happy with the process that was involved in my application for my loan, but the major set-back of this product was the inflexibility to have the repayments made fortnightly, as that was the means in which I am paid. Instead, I had to choose monthly repayments which was not as appropriate to my financial situation. Therefore, I would have reservations promoting their product(s) while such inflexibility exists.
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Great products to choose from and great service.
I like my personal loan that I currently have with the CBA. They were very helpful and helped pay out other debts, so we only had the one loan repayment, which helped us out alot due to us just having a daughter. We are able to pay more off the l... Full review
I like my personal loan that I currently have with the CBA. They were very helpful and helped pay out other debts, so we only had the one loan repayment, which helped us out alot due to us just having a daughter. We are able to pay more off the loan than what is required and we can also redraw on the loan if needed. I love the CBA and think that the customer service I receive is excellent and their products are great and they try to meet everyone's individual needs.
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crap rates and bad communication
They tell you one thing in the branch and then another over the phone. Incorrect information and a high interest rate is causing us to lose more money then we need to. No one willing to sort out the loan Full review
They tell you one thing in the branch and then another over the phone. Incorrect information and a high interest rate is causing us to lose more money then we need to. No one willing to sort out the loan
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Helpful with great customer service
The Commonwealth Bank personal loan specialists are helpful and are always there to help you when you need to change arrangements. They are easy to deal with. Full review
The Commonwealth Bank personal loan specialists are helpful and are always there to help you when you need to change arrangements. They are easy to deal with.
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Great service and competitive rates.
I like this product as the application process was quick and easy. The customer service was excellent and the interest rates are competitive. It's easy to make repayments through online banking and I can make extra payments if I want to. Full review
I like this product as the application process was quick and easy. The customer service was excellent and the interest rates are competitive. It's easy to make repayments through online banking and I can make extra payments if I want to.
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Very friendly & helpful
I like this product because it works really well. But be sure of what you want. If you're not sure just ask. Full review
I like this product because it works really well. But be sure of what you want. If you're not sure just ask.
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Fantastic Customer Service. Very helpful every day
I've banked with Commonwealth since I was 9 years old. No other bank has competed with the service or products offered. When I signed up for my loan the lady I was dealing with explained everything in detail and made a follow up call to ensure tha... Full review
I've banked with Commonwealth since I was 9 years old. No other bank has competed with the service or products offered. When I signed up for my loan the lady I was dealing with explained everything in detail and made a follow up call to ensure that I was happy with the service and that everything was set up to my satisfaction. You don't get service like that everyday
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