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Commonwealth Bank Personal loan reviews

Overall rating
6.8/10
Price
6.1/10
Features
5.9/10
Customer service
7.3/10
Convenience
7.8/10
Trust
7.0/10
Based on 2106 reviews as rated by the Mozo community.

Recent Commonwealth Bank personal loan reviews

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  • Commonwealth Bank Personal Loan review

    Overall rating   1 / 10
    Banks don't want to know you when you are a senior

    When our home loan of 25 years was finished, we still had $50,000 in home equity saved. We had our car loan on there which still had a balance of $11,000 to go. Unfortunately the bank wanted the balance paid in full and then we had no equity to use, when home loan was finalised. We couldn't even get any other loan to use as equity for any repairs on our home in the future. As seniors/pensioners, the bank didn't want to know us and they admitted that they do not loan to pensioners anymore. We have always had a great credit rating but that doesn't even mean anything to the banks these days!

    Trust
    1 / 10
    Less
    Lorraine, New South Wales, reviewed 1 day ago
  • Commonwealth Bank Personal Loan review

    Overall rating   1 / 10
    Inadequate customer service.

    So disappointed after applying for a personal loan and being told for one week that it is approved only to get online to see it is declined, no phone call to tell the customer personally. Totally poor service. When I did ring enquiring as to their reasons I was made to go through all my finances on the phone once again, which they had in front of them. I will never apply for another loan with them and also will be closing my account. I don’t have a problem with a loan being declined I have a problem with inadequate customer service.

    Price
    6 / 10
    Features
    6 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Shelley, New South Wales, reviewed 12 days ago
  • Commonwealth Bank Unsecured Personal Loan (Variable) review

    Overall rating   1 / 10
    Better customer service.

    Customer service is poor and relationship with customer is not valued.

    Price
    3 / 10
    Features
    3 / 10
    Customer service
    1 / 10
    Convenience
    2 / 10
    Trust
    1 / 10
    Less
    Jason, South Australia, reviewed 2 months ago
  • Commonwealth Bank Unsecured Personal Loan (Variable) review

    Overall rating   6 / 10
    High interest rates, good customer service.

    Customer service was great when I needed to contact them about an issue I had with payment. Interest rates being variable are a bit high, but that's the way the loan is. Could shop around for lower rates at another bank. It's Commonwealth, so being a big bank you can trust them.

    Price
    4 / 10
    Features
    7 / 10
    Customer service
    9 / 10
    Convenience
    9 / 10
    Trust
    8 / 10
    Less
    Shaun, Victoria, reviewed 3 months ago
  • Commonwealth Bank Personal Loan review

    Overall rating   5 / 10
    Good customer service

    Ease of access is great.

    Price
    5 / 10
    Features
    9 / 10
    Customer service
    6 / 10
    Convenience
    5 / 10
    Trust
    6 / 10
    Less
    Brad, Victoria, reviewed 3 months ago
  • Commonwealth Bank Unsecured Personal Loan (Variable) review

    Overall rating   5 / 10
    Great customer service, but tech issues

    They're customer service always resolve any issues quickly; however they regularly have technical issues and their phone app is down for maintenance every few nights.

    Price
    5 / 10
    Features
    6 / 10
    Customer service
    7 / 10
    Convenience
    6 / 10
    Trust
    4 / 10
    Less
    Alysha, Queensland, reviewed 3 months ago
  • Commonwealth Bank Unsecured Personal Loan (Variable) review

    Overall rating   3 / 10
    Much better interest rates can be found.

    Much better interest rates can be found. The process is long and frustrating. Trying to contact the branch directly resulted in about a dozen calls going through to the answering machine and none being returned.

    Price
    3 / 10
    Features
    3 / 10
    Customer service
    3 / 10
    Convenience
    1 / 10
    Trust
    3 / 10
    Less
    Robbie, Queensland, reviewed 4 months ago
  • Commonwealth Bank Unsecured Personal Loan (Variable) review

    Overall rating   8 / 10
    Great products.

    CBA has always been my bank, I have trust in the bank and its products and they are fair and reputable.

    Price
    7 / 10
    Features
    5 / 10
    Customer service
    6 / 10
    Convenience
    10 / 10
    Trust
    8 / 10
    Less
    Natalie, New South Wales, reviewed 4 months ago
  • Commonwealth Bank Personal Loan review

    Overall rating   6 / 10
    Glad I’m getting rid of them.

    Average bank with very average service.

    Price
    6 / 10
    Features
    7 / 10
    Customer service
    7 / 10
    Convenience
    6 / 10
    Trust
    7 / 10
    Less
    Eric, New South Wales, reviewed 5 months ago
  • Commonwealth Bank Unsecured Personal Loan (Variable) review

    Overall rating   9 / 10
    Great loans and rewards not enough info on fees

    Fast easy personal loan possess. Can sign up online which is a plus. Rewards with travel insurance which has come in handy! Cons are if your young and don't really know how a loan works you have to do a lot of digging rather then the information being there! E.g. what happens if you miss a payment, monthly fees etc

    Price
    10 / 10
    Features
    8 / 10
    Customer service
    10 / 10
    Convenience
    3 / 10
    Trust
    8 / 10
    Less
    Keria, New South Wales, reviewed 5 months ago
  • Commonwealth Bank Personal Loan review

    Overall rating   5 / 10
    Great service for long term customers

    I've been with it since I was 8 and they provide great service and loyatly to their long term customers.

    Price
    4 / 10
    Features
    7 / 10
    Customer service
    5 / 10
    Convenience
    6 / 10
    Trust
    4 / 10
    Less
    Alysha, Queensland, reviewed 5 months ago
  • Commonwealth Bank Personal Loan review

    Overall rating   10 / 10
    Great customer service.

    Very helpful.

    Price
    10 / 10
    Features
    8 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Janine, New South Wales, reviewed 5 months ago
  • Commonwealth Bank Personal Loan review

    Overall rating   4 / 10
    NO as good due to long waiting times.

    I do not mind the Commonwealth Bank but I have had better previous bank providers in New Zealand.

    Price
    3 / 10
    Features
    5 / 10
    Customer service
    7 / 10
    Convenience
    4 / 10
    Trust
    4 / 10
    Less
    Cheryl, New South Wales, reviewed 5 months ago
  • Commonwealth Bank Personal Loan review

    Overall rating   8 / 10
    Pretty good service.

    Ok rates and were the only provider happy to take on an owner builder.

    Price
    7 / 10
    Features
    6 / 10
    Customer service
    6 / 10
    Convenience
    10 / 10
    Trust
    9 / 10
    Less
    Andrew, New South Wales, reviewed 6 months ago
  • Commonwealth Bank Unsecured Personal Loan (Variable) review

    Overall rating   5 / 10
    Good customer service, however quite expensive.

    Overall I have a neutral liking of this bank. Its one of the big banks and for some reason have confidence that they will do the right thing. There are however smaller banks/institutions that offer more competitive rates and fees.

    Price
    4 / 10
    Features
    4 / 10
    Customer service
    6 / 10
    Convenience
    9 / 10
    Trust
    6 / 10
    Less
    Danielle, Western Australia, reviewed 6 months ago
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    Personal loan comparisons on Mozo - rates updated daily

    • Low Rate Personal Loan

      interest rate
      8.00% p.a.
      comparison rate*
      8.21% p.a.based on $30,000
      over 5 years

      Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.00% would cost $36,647.51 including fees.

      Promoted
    • Personal Loan

      interest rate
      5.75% p.a.to 21.99% p.a.
      comparison rate*
      6.47% p.a.to 25.11% p.a.based on $30,000
      over 5 years

      Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.75% would cost $35,190.18 including fees.

      Promoted
    • Personal Loan

      interest rate
      6.95% p.a.to 19.99% p.a.
      comparison rate*
      6.95% p.a.to 19.99% p.a.based on $30,000
      over 5 years

      Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.95% would cost $35,599.71 including fees.

      Promoted
    • Unsecured Personal Loan

      interest rate
      6.95% p.a.to 17.95% p.a.
      comparison rate*
      6.95% p.a.to 17.95% p.a.based on $10,000
      over 3 years

      Terms from 2 to 7 years. Representative example: a 3 year $10,000 loan at 6.95% would cost $11,107.53 including fees.

      Promoted
    • Unsecured Personal Loan

      interest rate
      7.59% p.a.to 8.89% p.a.
      comparison rate*
      12.24% p.a.to 13.91% p.a.based on $30,000
      over 5 years

      Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 7.59% would cost $36,844.34 including fees.

      Promoted

    *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 calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

    Want more? Compare all 229 personal loans in the Mozo comparison engine.

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