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 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 7 days 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 7 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   9 / 10

Friendly and and non-judgemental staff

Commonwealth Bank are great because they don't judge you or make it unnecessarily hard to get a loan. I received my first personal loan from them of $15,000 and I had nothing saved up myself, it was great and allowed me to do a lot.

Full review

Commonwealth Bank are great because they don't judge you or make it unnecessarily hard to get a loan. I received my first personal loan from them of $15,000 and I had nothing saved up myself, it was great and allowed me to do a lot.

    Price   -1 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Jennifer (VIC), reviewed 6 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   10 / 10

Fantastic customer service

Always helpful, great professional advice.

Full review

Always helpful, great professional advice.

    Price   10 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Aaron (QLD), reviewed 6 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   10 / 10

Amazing customer service tailored products to suit

They have always been supportive when necessary. User friendly online banking and tailored products.

Full review

They have always been supportive when necessary. User friendly online banking and tailored products.

    Price   8 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Jaymilee (SA), reviewed 6 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   10 / 10

Best customer service

I have been with Commonwealth Bank for about 17 years now and I have always had good service and they always offer the best solution for me.

Full review

I have been with Commonwealth Bank for about 17 years now and I have always had good service and they always offer the best solution for me.

    Price   8 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Adrian (QLD), reviewed 6 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   7 / 10

Overpriced interest rates for personal loans

The process to obtain my personal loan was straight-forward, however the interest rate accumulated over the years is rather expensive.

Full review

The process to obtain my personal loan was straight-forward, however the interest rate accumulated over the years is rather expensive.

    Price   2 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Amy (QLD), reviewed 7 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   8 / 10

Good for my family

I'm happy with Commonwealth Bank. They give us a fair go unlike other big banks.

Full review

I'm happy with Commonwealth Bank. They give us a fair go unlike other big banks.

    Price   6 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Ash (TAS), reviewed 7 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   9 / 10

Great service and friendly staff

Making a loan was very easy. The staff were very helpful and I'm pleased I went with them as my provider.

Full review

Making a loan was very easy. The staff were very helpful and I'm pleased I went with them as my provider.

    Price   8 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Paula (NSW), reviewed 8 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   8 / 10

Extremely helpful

I like banking with Commonwealth Bank because they are very helpful, especially if one is very late in the payment of a loan. I have recommended friends to change their banks to Commonwealth Bank.

Full review

I like banking with Commonwealth Bank because they are very helpful, especially if one is very late in the payment of a loan. I have recommended friends to change their banks to Commonwealth Bank.

    Price   4 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Maria (VIC), reviewed 8 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   10 / 10

Great customer service

I have dealt with Commonwealth Bank for 36 years and recently got personal loan from them. I think they are great and very helpful.

Full review

I have dealt with Commonwealth Bank for 36 years and recently got personal loan from them. I think they are great and very helpful.

    Price   9 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Debbie (TAS), reviewed 9 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   10 / 10

Great service

I've been with Commonwealth Bank for years and I've never had any problems. The staff are so friendly and you aren't considered just a number when having your queries dealt with by them.

Full review

I've been with Commonwealth Bank for years and I've never had any problems. The staff are so friendly and you aren't considered just a number when having your queries dealt with by them.

    Price   10 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Erica (VIC), reviewed 11 months ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   5 / 10

Better customer protection than other banks

Quite satisfied with Commonwealth Bank. I haven't had too many issues with this provider.

Full review

Quite satisfied with Commonwealth Bank. I haven't had too many issues with this provider.

    Price   -1 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Roggio (WA), reviewed 11 months ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   9 / 10

Not all banks are money minded.

My bank has been great by helping me through a difficult time for the last 15 months. I couldn't keep up with the payments so they let me only pay the interest now. I really didn't expect them to do that for me. It has made my life a little bit...

Full review

My bank has been great by helping me through a difficult time for the last 15 months. I couldn't keep up with the payments so they let me only pay the interest now. I really didn't expect them to do that for me. It has made my life a little bit more easier. I couldn't have asked for anything better.

    Price   7 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Shirley (TAS), reviewed about 1 year ago

Commonwealth Bank

Commonwealth Bank Student Car Loan (Fixed) personal loan review

Overall rating   5 / 10

Commonwealth Bank is great.

I've been with Commonwealth Bank since dollar mites and can't find a bad enough issue to have to change.

Full review

I've been with Commonwealth Bank since dollar mites and can't find a bad enough issue to have to change.

    Price   5 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   5 / 10

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Daniel (QLD), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   5 / 10

Would consider my family's money safe

Awesome bank - love the customer service

Full review

Awesome bank - love the customer service

    Price   7 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   5 / 10

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Erika (QLD), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   3 / 10

Not happy with bank.

The bank didn't calculate the correct amount so we didn't end up with the amount we required for debt consolidation. Repayment options were not discussed. Left in a worse financial situation to date.

Full review

The bank didn't calculate the correct amount so we didn't end up with the amount we required for debt consolidation. Repayment options were not discussed. Left in a worse financial situation to date.

    Price   3 / 10

    Features   2 / 10

    Customer service   3 / 10

    Convenience   5 / 10

    Trust   3 / 10

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Melanie (QLD), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   10 / 10

Outstanding

Commonwealth, to me, has always been the top bank. Ive walked into other banks and I don't seem to get that uplifting, alive feeling I usually feel in commonwealth. Believe me, I'm not just saying that. When I walk into another bank, everybody...

Full review

Commonwealth, to me, has always been the top bank. Ive walked into other banks and I don't seem to get that uplifting, alive feeling I usually feel in commonwealth. Believe me, I'm not just saying that. When I walk into another bank, everybody just looks confused. So thank you commonwealth for making me feel comfortable and cool.

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   9 / 10

Less

Duke (VIC), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   0 / 10

Higher rates and poor service

As a long term member to this bank, I was shocked at the service I received when making an application. My information in their system was not up to date even though this is the only bank account I have, thus the process was drawn out. The service...

Full review

As a long term member to this bank, I was shocked at the service I received when making an application. My information in their system was not up to date even though this is the only bank account I have, thus the process was drawn out. The service started out great until there was an issue with credit. I followed up and resoled the issue by supplying a finance report, only not to here back from them and even after leaving a few messages on the answer machine, i have still not herd back 8 months later.

    Price   4 / 10

    Features   2 / 10

    Customer service   1 / 10

    Convenience   0 / 10

    Trust   0 / 10

Less

Bradley (VIC), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   8 / 10

I would highly recommend them to anyone that asks

Very professional service at my local branch Fairfield Heights NSW.

Full review

Very professional service at my local branch Fairfield Heights NSW.

    Price   5 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Robert fowler (NSW), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   10 / 10

Good bank

Good products and online banking is a good service

Full review

Good products and online banking is a good service

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Trevor (VIC), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   6 / 10

Great customer service

The product is somewhat outdated now as it is 6 years old. I did look at consolidating it but figured I have just about paid it out I would leave it. The bank is very helpful when ever I have an inquiry about the loan and have a good knowledge of...

Full review

The product is somewhat outdated now as it is 6 years old. I did look at consolidating it but figured I have just about paid it out I would leave it. The bank is very helpful when ever I have an inquiry about the loan and have a good knowledge of it and other products they have to offer. At time I took out the loan it had fairly competitive rates compared to other banks or credit unions. I would be happy to recommend the bank to others as their new loans and accounts are very good.

    Price   7 / 10

    Features   6 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   6 / 10

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Luke (QLD), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   5 / 10

I have income need a personal loan please help me.

They bank trust to help but no yes answers for a personal loan why can't we be granted a personal loan just like some one who works receives a good income I get money I just need a chance for a loan and the repayments directed out of my account.

Full review

They bank trust to help but no yes answers for a personal loan why can't we be granted a personal loan just like some one who works receives a good income I get money I just need a chance for a loan and the repayments directed out of my account.

    Price   0 / 10

    Features   0 / 10

    Customer service   10 / 10

    Convenience   4 / 10

    Trust   2 / 10

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Donna (WA), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   8 / 10

Not a bad bank for a bank

They have always done the right thing by me

Full review

They have always done the right thing by me

    Price   5 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   8 / 10

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Glenn (QLD), reviewed over 1 year ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   9 / 10

Amazing customer service

I have always liked my local bank and they are always more than helpful though I think they could sometimes be more competitive.

Full review

I have always liked my local bank and they are always more than helpful though I think they could sometimes be more competitive.

    Price   5 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Andrea (VIC), reviewed over 1 year ago

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Personal loan comparisons on Mozo - rates updated daily

  • Hume Bank Secured Personal Loan (secured by vehicle up to 5 years old, Fixed)

    Hume Bank Secured Personal Loan (secured by vehicle up to 5 years old, Fixed)

    • No monthly fees
    • No fees for early repayment
    • Weekly, fortnightly, or monthly repayments

    interest rate

    5.95% p.a.

    comparison rate*

    6.12% p.a.based on $30,000
    over 5 years

    fees

    $125.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 5.95% would cost $34,882.21 including fees.

    • No monthly fees
    • No fees for early repayment
    • Weekly, fortnightly, or monthly repayments
    • Other benefits:
    • Upfront fee: $125
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Vehicle
    • Minimum loan amount: $2,000.00
    • Maximum loan amount:
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    Overall rating

    10.0

    Based on 1 Hume Bank personal loan reviews

    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 29.99% p.a.

    comparison rate*

    7.69% p.a.to 31.95% 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

  • Featured product

     

    Latitude Low Rate Personal Loan (Fixed, Unsecured)

    Latitude Low Rate Personal Loan (Fixed, Unsecured)

    • 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

    10.99% p.a.

    comparison rate*

    12.21% 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 10.99% would cost $40,307.39 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
    • Other benefits:
    • Upfront fee: $250
    • Monthly fee: $13.00
    • Exit fee: $150.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $20,000.00
    • Maximum loan amount:
    • Minimum loan term: 2 Years
    • Maximum loan term: 7 Years
    Overall rating

    4.4

    Based on 63 Latitude personal loan reviews

    Need more information?
    Go to site

    More info

  • IMB Bank Secured Personal Loan (secured by vehicle up to 6 years old, Fixed)

    IMB Bank Secured Personal Loan (secured by vehicle up to 6 years old, Fixed)

    • No monthly fees
    • Flexible terms from 1 - 5 years
    • Fast online conditional approval

    interest rate

    7.39% p.a.

    comparison rate*

    7.74% 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 5 years. Representative example: a 5 year $30,000 loan at 7.39% would cost $36,224.29 including fees.

    • No monthly fees
    • Flexible terms from 1 - 5 years
    • Fast online conditional approval
    • Other benefits:
    • Upfront fee: $250
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Repayment options: Monthly
    • Security required: Vehicle
    • Minimum loan amount: $2,000.00
    • Maximum loan amount: $60,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    Overall rating

    6.6

    Based on 5 IMB Bank personal loan reviews

    Need more information?
    Go to site

    More info

  • 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

    8.46% p.a.

    comparison rate*

    9.23% p.a.based on $10,000
    over 3 years

    fees

    $75.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 5 years. Representative example: a 3 year $10,000 loan at 8.46% would cost $11,432.64 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: $75
    • Monthly fee: $0.00
    • 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

Want more? Compare all 190 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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