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Commonwealth Bank personal loan reviews

Commonwealth Bank
Commonwealth Bank's overall rating for personal loans

(as rated by the Mozo community)

6.8 / 10

based on 2068 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 bank to be with.

Good bank to be with. There have been no real dramas and they have helped me out when needed.

Full review

Good bank to be with. There have been no real dramas and they have helped me out when needed.

    Price   7 / 10

    Features   5 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   7 / 10

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Rod, New South Wales, reviewed 3 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) Unsecured Personal Loan review

Overall rating   10 / 10

They have great packages.

Very helpful and great packages to suite my needs.

Full review

Very helpful and great packages to suite my needs.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Dennis, Queensland, reviewed 4 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) Unsecured Personal Loan review

Overall rating   9 / 10

Trusted and helpful.

Quick application and deposit of funds.

Full review

Quick application and deposit of funds.

    Price   8 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Alycia, New South Wales, reviewed 4 days ago

Commonwealth Bank

Commonwealth Bank Personal Loan review

Overall rating   6 / 10

Customer service is amazing.

Customer service is amazing, but my interest rates are quite high and I have to pay for monthly account fees.

Full review

Customer service is amazing, but my interest rates are quite high and I have to pay for monthly account fees.

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Daniella, New South Wales, reviewed 10 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) Unsecured Personal Loan review

Overall rating   8 / 10

Overall a good experience.

Good service and a competitive rate. Would recommend.

Full review

Good service and a competitive rate. Would recommend.

    Price   10 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   8 / 10

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Sam, New South Wales, reviewed 10 days ago

Commonwealth Bank

Commonwealth Bank Personal Loan review

Overall rating   7 / 10

Great customer service.

Been with them since I was a child. Easy and convenient for me, and you can pay it off as fast as you like. However, there are high interest rates on my particular loan.

Full review

Been with them since I was a child. Easy and convenient for me, and you can pay it off as fast as you like. However, there are high interest rates on my particular loan.

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Jordan, New South Wales, reviewed 12 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) Unsecured Personal Loan review

Overall rating   5 / 10

Overall I've been happy with CBA.

Whilst I've had a Commonwealth product in excess of 30 years, be it a personal loan or otherwise, I've found the products on offer may not always be the best out there but what CBA offer is consistency.

Full review

Whilst I've had a Commonwealth product in excess of 30 years, be it a personal loan or otherwise, I've found the products on offer may not always be the best out there but what CBA offer is consistency.

    Price   5 / 10

    Features   6 / 10

    Customer service   6 / 10

    Convenience   8 / 10

    Trust   5 / 10

Less

Renee, Western Australia, reviewed 13 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) Unsecured Personal Loan review

Overall rating   10 / 10

Competitive rates. Customer focused.

Online access with easy to use functionality. Good customer service. Competitive rates.

Full review

Online access with easy to use functionality. Good customer service. Competitive rates.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Penny, New South Wales, reviewed 18 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) Unsecured Personal Loan review

Overall rating   6 / 10

Easy service to use online.

High interest rate although easy to manage.

Full review

High interest rate although easy to manage.

    Price   7 / 10

    Features   8 / 10

    Trust   5 / 10

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Jaylie, Western Australia, reviewed 19 days ago

Commonwealth Bank

Commonwealth Bank Personal Loan review

Overall rating   8 / 10

Easy managing through the app and has redraw.

I would recommend if there is a promotion as you can get extra benefits like lower interest or cashback. Best feature is the redraw facility - you can pay off sooner but leave a little owing so you sort of have a line of credit until the loan...

Full review

I would recommend if there is a promotion as you can get extra benefits like lower interest or cashback. Best feature is the redraw facility - you can pay off sooner but leave a little owing so you sort of have a line of credit until the loan finishes. Application was very easy just through the app.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Maria, Western Australia, reviewed 24 days ago

Commonwealth Bank

Commonwealth Bank Personal Loan review

Overall rating   10 / 10

They have great rates,and have great staff.

I have been banking with Commonwealth Bank for at least 40 years, and they always looked after me 100%.

Full review

I have been banking with Commonwealth Bank for at least 40 years, and they always looked after me 100%.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Steven, Tasmania, reviewed 25 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) Unsecured Personal Loan review

Overall rating   8 / 10

Home with Commonwealth Bank....yeah.

They have always been helpful when unexpected situations happen. Friendly on all approaches.

Full review

They have always been helpful when unexpected situations happen. Friendly on all approaches.

    Price   8 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   8 / 10

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Aura, Queensland, reviewed 26 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) Unsecured Personal Loan review

Overall rating   8 / 10

The better option among the four big banks.

More honest and upfront than bank of Queensland. The customer service is outstanding and we know exactly where our money is and nothing is hidden. No bank is perfect but they were there when we needed them.

Full review

More honest and upfront than bank of Queensland. The customer service is outstanding and we know exactly where our money is and nothing is hidden. No bank is perfect but they were there when we needed them.

    Price   7 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   8 / 10

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Kylie, Queensland, reviewed 26 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) Unsecured Personal Loan review

Overall rating   9 / 10

Great rate and service.

Easy application and terms are simple and relevant. Product is very flexible and the customer service from CommBank is always great. Most things can be done via app which makes banking with them quicker.

Full review

Easy application and terms are simple and relevant. Product is very flexible and the customer service from CommBank is always great. Most things can be done via app which makes banking with them quicker.

    Price   8 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Carolyn, New South Wales, reviewed about 1 month ago

Commonwealth Bank

Commonwealth Bank Personal Loan review

Overall rating   9 / 10

Very pleased.

Friendly staff, competitive rates, very quick processing. Funded within a few days!

Full review

Friendly staff, competitive rates, very quick processing. Funded within a few days!

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   10 / 10

    Trust   8 / 10

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Matilda, Victoria, reviewed about 1 month ago

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Personal loan comparisons on Mozo - rates updated daily

  • Symple Loans Personal Loan (Variable, Unsecured)

    Symple Loans Personal Loan (Variable, Unsecured)

    interest rate

    5.75% p.a.to 19.99% p.a.

    comparison rate*

    6.89% p.a.to 23.07% p.a.based on $30,000
    over 5 years

    fees

    $300.00upfront
    and
    $10.00/month

    Go to site

    More info

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.75% would cost $35,490.18 including fees.

    • Interest rate: 5.75% p.a.to 19.99% p.a.
    • Comparison rate*: 6.89% p.a.to 23.07% p.a.based on $30,000
      over 5 years
    • Upfront fee: $300
    • Monthly fee: $10.00
    • Exit fee: $0.00
    • Late payment fee: $35.00
    • Repayment options: Monthly
    • Early repayment penalty: $0.00
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    • Security required: Unsecured
    • Other benefits:
    Need more information?
    Go to site

    More info

  • Featured product

     

    Latitude Low Rate Personal Loan (Fixed, Secured)

    Latitude Low Rate Personal Loan (Fixed, Secured)

    • Available to new Latitude personal loan customers only
    • Applicants must be mortgage holders or homeowners
    • Applicants need an excellent credit score to apply

    interest rate

    9.99% p.a.

    comparison rate*

    11.22% p.a.based on $30,000
    over 5 years

    fees

    $250.00upfront
    and
    $13.00/month

    Go to site

    More info

    Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 9.99% would cost $39,265.82 including fees.

    • Available to new Latitude personal loan customers only
    • Applicants must be mortgage holders or homeowners
    • Applicants need an excellent credit score to apply
    • Interest rate: 9.99% p.a.
    • Comparison rate*: 11.22% p.a.based on $30,000
      over 5 years
    • Upfront fee: $250
    • Monthly fee: $13.00
    • Exit fee: $0.00
    • Late payment fee: $35.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Early repayment penalty: $300 in first half of loan, $0 in second half.
    • Minimum loan amount: $20,000.00
    • Maximum loan amount:
    • Minimum loan term: 2 Years
    • Maximum loan term: 7 Years
    • Security required: Residential Property, Various, Vehicle
    • Other benefits:
    Overall rating

    4.7

    Based on 191 Latitude personal loan reviews

    Need more information?
    Go to site

    More info

  • 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 28.69% p.a.

    comparison rate*

    7.69% p.a.to 29.55% 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
    • Interest rate: 6.99% p.a.to 28.69% p.a.
    • Comparison rate*: 7.69% p.a.to 29.55% p.a.based on $30,000
      over 5 years
    • Upfront fee: $500
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Late payment fee: $15.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Early repayment penalty: $0.00
    • Minimum loan amount: $2,000.00
    • Maximum loan amount: $70,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    • Security required: Unsecured
    • Other benefits: Application fee is $200 for loans under $5,000.
    Overall rating

    8.3

    Based on 4 Harmoney personal loan reviews

    Need more information?
    Go to site

    More info

  • OurMoneyMarket Low Rate Personal Loan (Excellent Credit) (Fixed, Unsecured)

    OurMoneyMarket Low Rate Personal Loan (Excellent Credit) (Fixed, Unsecured)

    interest rate

    8.00% p.a.

    comparison rate*

    8.21% p.a.based on $30,000
    over 5 years

    fees

    $150.00upfront
    and
    $0.00/month

    Go to site

    More info

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

    • Interest rate: 8.00% p.a.
    • Comparison rate*: 8.21% p.a.based on $30,000
      over 5 years
    • Upfront fee: $150
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Late payment fee: $35.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Early repayment penalty: $0.00
    • Minimum loan amount: $2,001.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    • Security required: Unsecured
    • Other benefits:
    Need more information?
    Go to site

    More info

  • People's Choice Credit Union Discounted Personal Loan (over 10k, Fixed, Secured)

    People's Choice Credit Union Discounted Personal Loan (over 10k, Fixed, Secured)

    • No monthly account fees
    • No penalties for early repayments
    • Flexible loan terms and repayment options

    interest rate

    7.99% p.a.

    comparison rate*

    8.35% p.a.based on $30,000
    over 5 years

    fees

    $250.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 10 years. Representative example: a 5 year $30,000 loan at 7.99% would cost $36,738.90 including fees.

    • No monthly account fees
    • No penalties for early repayments
    • Flexible loan terms and repayment options
    • Interest rate: 7.99% p.a.
    • Comparison rate*: 8.35% p.a.based on $30,000
      over 5 years
    • Upfront fee: $250
    • Monthly fee: $0.00
    • Exit fee:
    • Late payment fee: $25.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Early repayment penalty: $0.00
    • Minimum loan amount: $10,000.00
    • Maximum loan amount: $100,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 10 Years
    • Security required: Vehicle
    • Other benefits: $0 monthly fee on Peoples Choice Credit Union Zip bank account.
    Overall rating

    7.7

    Based on 93 People's Choice Credit Union personal loan reviews

    Need more information?
    Go to site

    More info

*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 220 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 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.

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