The Commonwealth Bank might be one of Australia's oldest and largest banks, but lately it's determined to do things differently. Its aim is to focus 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.
And if you love doing your banking on your mobile, Commonwealth Bank might be a choice to consider given it received a 2023 Mozo Experts Choice Award for Excellent Banking App, an Exceptional Everyday Account Award, and it also won the award for Australia's Best Major Bank.
I’ve been using Commonwealth Bank for my home loan, and overall, it’s been a positive experience. One of the standout features is their exceptional customer service. They were incredibly helpful in structuring our loan for a removal house, which was more complex than a standard loan. The team took the time to guide us through the process and ensure we understood all the details, which made the whole experience much smoother. Additionally, their online and phone services are user-friendly and convenient, making it easy to manage our account and stay on top of things. However, one downside is that compared to other banks I’ve seen, Commonwealth Bank doesn’t offer many benefits or advantages to help with the cost of living. While their home loan services are great, there aren’t many extra perks that could make day-to-day banking more rewarding. Overall, I’m happy with their service but feel room for improvement exists.
Intrest rates payed on savings accounts are very low everything else is perfect
Like the bank but too many branches closing making it harder for senior people
Commonwealth bank has easy to apply for loans with great rates and very easy to get..excellent five star bank for all types of loans
I took out a car loan at 18 years old which was one of the worst financial decisions I have made in my life so far. Considering my naivety I was hungry for the loan immediately and did not have the knowledge or understanding of this kind of decision. When choosing my loan I was not given appropriate advice. The attendant I spoke to at Commbank didn't offer advice as to whether a fixed or non-fixed rate would suit my loan best and instead advised me to "just pick whatever, it doesn't matter". It did hugely matter and I ended up with a very small initial loan bloated into an out-of-control sum of money I cannot pay back for another 5 years as per the terms of my loan. I still use commbank for my everyday banking but I would say their loan system is ethically problematic and more financial counsellors should be available, particularly for young people without much banking experience.
Commonwealth is stable, secure and supportive. In some respects they are slightly more expensive, but it's because they are a superior product
The CBA has been my bank for many years. I have held many accounts with it, and I have enjoyed my association with the bank. As with most banking institutions the dependence upon internet banking can be a bit off-putting if you aren't that computer literate, but they do have an excellent customer service to assist their customers in this regard.
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