Commonwealth Bank personal loan reviews

Commonwealth Bank
Commonwealth Bank's overall rating for personal loans

(as rated by the Mozo community)

7.3 / 10

based on 817 reviews

Price

Features

Customer service

Convenience

Trust

Featured personal loan from Commonwealth Bank

Recent Commonwealth Bank personal loan reviews

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   7 / 10

Good loan and nice services

Good loan, very handy and good services.

Full review

Good loan, very handy and good services.

    Price   10 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Shuai (NSW), reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   1 / 10

Disappointing service for a customer of 30 years

I’ve been a member of Commonwealth Bank for 30 years. I got a personal loan 6 years ago & have tried to lower my interest rate from 19% & they agreed to drop 1% off. After another 7 months of payments (none missed) asked again if they could help...

Full review

I’ve been a member of Commonwealth Bank for 30 years. I got a personal loan 6 years ago & have tried to lower my interest rate from 19% & they agreed to drop 1% off. After another 7 months of payments (none missed) asked again if they could help by dropping the internet rate as I’m struggling & got told no.

    Price   2 / 10

    Features   1 / 10

    Customer service   3 / 10

    Convenience   8 / 10

    Trust   0 / 10

Less

Tracey (VIC), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   8 / 10

Great

I've been with Commonwealth for a while and I like them.

Full review

I've been with Commonwealth for a while and I like them.

    Price   9 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Andrew (NSW), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank Secured Car Loan (Fixed) personal loan review

Overall rating   6 / 10

Average bank

Just a little too expensive. Although I love the convenience and staff.

Full review

Just a little too expensive. Although I love the convenience and staff.

    Price   3 / 10

    Features   3 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   7 / 10

Less

Brody (VIC), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   6 / 10

Fast, but high interest

Easy to apply and friendly, helpful service.

Full review

Easy to apply and friendly, helpful service.

    Price   7 / 10

    Features   4 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Te arohanui (QLD), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank Student Car Loan (Fixed, Secured) personal loan review

Overall rating   6 / 10

Fine

It's okay.

Full review

It's okay.

    Price   7 / 10

    Features   5 / 10

    Customer service   7 / 10

    Convenience   5 / 10

    Trust   7 / 10

Less

Tiara (WA), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   9 / 10

Great

Excellent

Full review

Excellent

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Leena (VIC), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   9 / 10

Awesome

Very good.

Full review

Very good.

    Price   8 / 10

    Features   8 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Laura (NSW), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   8 / 10

Customer service and technology

Commonwealth Bank is up there with their technology, love the online facilities.

Full review

Commonwealth Bank is up there with their technology, love the online facilities.

    Price   5 / 10

    Features   5 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Julie (WA), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   0 / 10

They weren't helpful

We worked hard to fix our credit up for 9 months, with the last 5 months of the loan with nothing in the red except for 2 small overnight withdrawals that were fixed within minutes to hours. However, the bank refused us, not for equity but for the...

Full review

We worked hard to fix our credit up for 9 months, with the last 5 months of the loan with nothing in the red except for 2 small overnight withdrawals that were fixed within minutes to hours. However, the bank refused us, not for equity but for the 2 small misconducts in recent days. We’ve taken our business to other services to see if we can refinance with them and we’ve got 3 offers! Commonwealth Bank can go, we’re done we’re moving all our business.

    Price   6 / 10

    Features   5 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   0 / 10

Less

Wee (TAS), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   8 / 10

I am happy with this product.

My needs are being met.

Full review

My needs are being met.

    Price   8 / 10

    Features   9 / 10

    Customer service   8 / 10

    Convenience   10 / 10

    Trust   7 / 10

Less

Heather (QLD), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   10 / 10

Professional

Reliable and they have online options that no other banks have.

Full review

Reliable and they have online options that no other banks have.

    Price   9 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   7 / 10

Less

Jacquilyne (TAS), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   4 / 10

Paying for insurance and not receiving any service

Insurance payed, yet CommBank doesn't make payments when needed.

Full review

Insurance payed, yet CommBank doesn't make payments when needed.

    Price   4 / 10

    Features   5 / 10

    Customer service   3 / 10

    Convenience   5 / 10

    Trust   2 / 10

Less

Michael (TAS), reviewed 3 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   5 / 10

Adequate but not great

High interest rate and no personal service

Full review

High interest rate and no personal service

    Price   4 / 10

    Features   3 / 10

    Customer service   5 / 10

    Convenience   8 / 10

    Trust   5 / 10

Less

Leonie (QLD), reviewed 4 months ago

Commonwealth Bank

Commonwealth Bank Secured Car Loan (Fixed) personal loan review

Overall rating   7 / 10

7 out of 10

Not as bad as other banks but they need more ATM facilities

Full review

Not as bad as other banks but they need more ATM facilities

    Price   5 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   2 / 10

Less

Chris (WA), reviewed 4 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   10 / 10

Excellent

Very happy with help and support at commonwealth bank

Full review

Very happy with help and support at commonwealth bank

    Price   9 / 10

    Features   4 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Jill (NSW), reviewed 4 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   0 / 10

No info

Get charged a late fee month after month but the bank does a auto deduction from my account

Full review

Get charged a late fee month after month but the bank does a auto deduction from my account

    Price   2 / 10

    Features   0 / 10

    Customer service   3 / 10

    Convenience   0 / 10

    Trust   0 / 10

Less

Sean (QLD), reviewed 4 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   5 / 10

Not professional

They were ok untill I hadn’t heard from them for two days then they cancelled my application half way through because I had a credit card debt which I had made all the payments they asked for the last 12 months.

Full review

They were ok untill I hadn’t heard from them for two days then they cancelled my application half way through because I had a credit card debt which I had made all the payments they asked for the last 12 months.

    Price   7 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   4 / 10

Less

Alicia (NSW), reviewed 5 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   5 / 10

Average

Staff need more training

Full review

Staff need more training

    Price   5 / 10

    Features   3 / 10

    Customer service   5 / 10

    Convenience   6 / 10

    Trust   4 / 10

Less

Maria (NSW), reviewed 5 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   10 / 10

Great

Best bank ever

Full review

Best bank ever

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Shannon (WA), reviewed 5 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   5 / 10

Misled by customer service officer to qualify for

Need more flexible response to loan applications

Full review

Need more flexible response to loan applications

    Price   7 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   6 / 10

Less

Fred (QLD), reviewed 5 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   9 / 10

Great bank and great service

Great bank, great service and wonderful staff. Helped me secure my 1st personal loan and explained everything thoroughly .

Full review

Great bank, great service and wonderful staff. Helped me secure my 1st personal loan and explained everything thoroughly .

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Sherry (VIC), reviewed 5 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   0 / 10

I would keep away

The conditions are rigid. I am unable to do a re-draw or do additional payments.

Full review

The conditions are rigid. I am unable to do a re-draw or do additional payments.

    Price   2 / 10

    Features   0 / 10

    Customer service   4 / 10

    Convenience   0 / 10

    Trust   0 / 10

Less

Jeffrey (QLD), reviewed 5 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   10 / 10

Quick efficient reliable

They have been supportive and made it easy as possible

Full review

They have been supportive and made it easy as possible

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Jennifer (QLD), reviewed 5 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   6 / 10

Easy to apply and keep track of

It's really easy if you're an existing customer to set up and apply for a personal loan with Commonwealth. You get a near instant response, and its really easy to manage and see your loan in the Commonwealth App.

Full review

It's really easy if you're an existing customer to set up and apply for a personal loan with Commonwealth. You get a near instant response, and its really easy to manage and see your loan in the Commonwealth App.

    Price   4 / 10

    Features   -1 / 10

    Customer service   8 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Ebony (NSW), reviewed 6 months ago

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Personal loan comparisons on Mozo - rates updated daily

  • MOZO EXPERTS CHOICE AWARDS 2016

    RateSetter Unsecured Personal Loan (Fixed)

    RateSetter Unsecured Personal Loan (Fixed)

    • Low rates for borrowers with good credit
    • 1 min rate estimate, simple online application
    • No exit fees, no early repayment fees

    interest rate

    8.42% p.a.

    comparison rate*

    10.97% p.a.based on $10,000
    over 3 years

    fees

    $220.00upfront
    and
    $5.00/month

    Go to site

    More info

    Terms from 1 to 5 years. Representative example: a 3 year $10,000 loan at 8.42% would cost $11,750.97 including fees.

    • Low rates for borrowers with good credit
    • 1 min rate estimate, simple online application
    • No exit fees, no early repayment fees
    • Other benefits:
    • Upfront fee: $220
    • Monthly fee: $5.00
    • Exit fee: $0.00
    • Repayment options: Monthly
    • Security required: Unsecured
    • Minimum loan amount: $2,001.00
    • Maximum loan amount: $45,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    Need more information?
    Go to site

    More info

  • MOZO EXPERTS CHOICE AWARDS 2016

    Harmoney Unsecured Personal Loan (Fixed)

    Harmoney Unsecured Personal Loan (Fixed)

    • Up to $70,000, unsecured. Fast, easy & 100% online
    • No hidden fees or early repayment penalties with Australasia's leading marketplace lending website
    • You're unique, so is your interest rate

    interest rate

    6.99% p.a.to 26.95% p.a.

    comparison rate*

    7.69% p.a.to 28.21% p.a.based on $30,000
    over 5 years

    fees

    $500.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,133.67 including fees.

    • Up to $70,000, unsecured. Fast, easy & 100% online
    • No hidden fees or early repayment penalties with Australasia's leading marketplace lending website
    • You're unique, so is your interest rate
    • Other benefits:
    • Upfront fee: $500
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $70,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    Need more information?
    Go to site

    More info

  • HSBC Unsecured Personal Loan (Fixed)

    HSBC Unsecured Personal Loan (Fixed)

    • Apply online and get an instant response in 60 seconds
    • Borrow from $5,000 up to $50,000
    • Fixed set monthly repayment terms to help you manage your budget

    interest rate

    9.50% p.a.to 15.99% p.a.

    comparison rate*

    10.06% p.a.to 16.53% p.a.based on $30,000
    over 5 years

    fees

    $150.00upfront
    and
    $5.00/month

    Go to site

    More info

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 9.50% would cost $38,253.35 including fees.

    • Apply online and get an instant response in 60 seconds
    • Borrow from $5,000 up to $50,000
    • Fixed set monthly repayment terms to help you manage your budget
    • Other benefits:
    • Upfront fee: $150
    • Monthly fee: $5.00
    • Exit fee: $0.00
    • Repayment options: Monthly
    • Security required: Unsecured
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    Overall rating

    7.0

    Based on 4 HSBC personal loan reviews

    Need more information?
    Go to site

    More info

  • ANZ Unsecured Personal Loan (Fixed)

    ANZ Unsecured Personal Loan (Fixed)

    • A Fixed Personal Loan with terms from 1 to 7 years
    • 60 Sec. Response time
    • Borrow up to $50,000

    interest rate

    10.99% p.a.

    comparison rate*

    11.87% p.a.based on $30,000
    over 5 years

    fees

    $150.00upfront
    and
    $10.00/month

    Go to site

    More info

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 10.99% would cost $40,177.39 including fees.

    • A Fixed Personal Loan with terms from 1 to 7 years
    • 60 Sec. Response time
    • Borrow up to $50,000
    • Other benefits: ANZ Loan Protection Insurance available.
    • Upfront fee: $150
    • Monthly fee: $10.00
    • Exit fee: $300.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    Overall rating

    7.1

    Based on 453 ANZ personal loan reviews

    Need more information?
    Go to site

    More info

  • CUA Discount Unsecured Personal Loan (Variable)

    CUA Discount Unsecured Personal Loan (Variable)

    • $0 establishment fee (save $120) for a limited time only. Conditions apply
    • No penalties for early payout or extra repayments. Free redraw.
    • No monthly fees

    interest rate

    10.89% p.a.

    comparison rate*

    10.89% p.a.based on $30,000
    over 5 years

    fees

    $0.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 10.89% would cost $39,037.69 including fees.

    • $0 establishment fee (save $120) for a limited time only. Conditions apply
    • No penalties for early payout or extra repayments. Free redraw.
    • No monthly fees
    • Other benefits:
    • Upfront fee: $0
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $30,000.00
    • Maximum loan amount: $60,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    Overall rating

    7.7

    Based on 25 CUA personal loan reviews

    Need more information?
    Go to site

    More info

Want more? Compare all 195 personal loans in the Mozo comparison engine.

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*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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