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   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   -1 / 10

    Customer service   -1 / 10

    Convenience   -1 / 10

    Trust   -1 / 10

Less

Maria (SA), reviewed 4 days ago

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 5 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 5 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 5 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 6 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 6 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 6 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 6 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 6 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 6 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 6 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 6 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 6 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 6 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 6 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 7 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 7 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 7 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 7 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 7 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 7 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 7 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 8 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 8 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 8 months ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Personal loan comparisons on Mozo - rates updated daily

  • 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

  • Featured product

     

    SocietyOne Unsecured Personal Loan - Excellent Credit (Fixed)

    SocietyOne Unsecured Personal Loan - Excellent Credit (Fixed)

    • Low rates that reward your good credit
    • Apply online in minutes
    • No monthly or early repayment fees

    interest rate

    7.50% p.a.to 9.99% p.a.

    comparison rate*

    9.51% p.a.to 12.71% p.a.based on $10,000
    over 3 years

    fees

    $300.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 2 to 3 years. Representative example: a 3 year $10,000 loan at 7.50% would cost $11,498.24 including fees.

    • Low rates that reward your good credit
    • Apply online in minutes
    • No monthly or early repayment fees
    • Other benefits:
    • Upfront fee: $300
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Repayment options: Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 2 Years
    • Maximum loan term: 3 Years
    Overall rating

    0.0

    Based on 1 SocietyOne personal loan reviews

    Need more information?
    Go to site

    More info

  • NAB Personal Loan (Variable, Unsecured)

    NAB Personal Loan (Variable, Unsecured)

    • Borrow from $5,000 - $55,000
    • No fees for extra or early repayments
    • The interest rate shown is a headline rate. The headline rate is the rate that the majority of NAB personal loan customers will get

    interest rate

    12.69% p.a.to 18.69% p.a.

    comparison rate*

    13.56% p.a.to 19.53% 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 12.69% would cost $41,420.45 including fees.

    • Borrow from $5,000 - $55,000
    • No fees for extra or early repayments
    • The interest rate shown is a headline rate. The headline rate is the rate that the majority of NAB personal loan customers will get
    • Other benefits: Headline rate displayed above, rates start as low as 10.69% based on credit history.
    • Upfront fee: $150
    • Monthly fee: $10.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $55,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    Overall rating

    7.6

    Based on 318 NAB personal loan reviews

    Need more information?
    Go to site

    More info

  • Bank Australia Lifestyle Personal Loan (Variable, Unsecured)

    Bank Australia Lifestyle Personal Loan (Variable, Unsecured)

    • Additional payments accepted
    • No early exit fees
    • Experts Choice Winner 2017 - Australia's Best Bank

    interest rate

    11.89% p.a.

    comparison rate*

    12.94% p.a.based on $10,000
    over 3 years

    fees

    $150.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 10 years. Representative example: a 3 year $10,000 loan at 11.89% would cost $12,088.25 including fees.

    • Additional payments accepted
    • No early exit fees
    • Experts Choice Winner 2017 - Australia's Best Bank
    • Other benefits:
    • Upfront fee: $150
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $1,000.00
    • Maximum loan amount:
    • Minimum loan term: 1 Year
    • Maximum loan term: 10 Years
    Overall rating

    5.7

    Based on 6 Bank Australia personal loan reviews

    Need more information?
    Go to site

    More info

  • RACQ Bank Unsecured Personal Loan (Variable)

    RACQ Bank Unsecured Personal Loan (Variable)

    • Unlimited additional repayments and no early payout fee
    • Queensland borrowers only
    • Borrow from $3K to $60K

    interest rate

    12.95% p.a.

    comparison rate*

    13.25% p.a.based on $30,000
    over 5 years

    fees

    $200.00upfront
    and
    $0.00/month

    Go to site

    More info

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 12.95% would cost $41,109.47 including fees.

    • Unlimited additional repayments and no early payout fee
    • Queensland borrowers only
    • Borrow from $3K to $60K
    • Other benefits:
    • Upfront fee: $200
    • Monthly fee: $0.00
    • Exit fee:
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $3,000.00
    • Maximum loan amount: $60,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    Need more information?
    Go to site

    More info

Want more? Compare all 197 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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