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!
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.
Customer service is poor and relationship with customer is not valued.
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.
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.
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.
CBA has always been my bank, I have trust in the bank and its products and they are fair and reputable.
Average bank with very average service.
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
I've been with it since I was 8 and they provide great service and loyatly to their long term customers.
I do not mind the Commonwealth Bank but I have had better previous bank providers in New Zealand.
Ok rates and were the only provider happy to take on an owner builder.
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.
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Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.00% would cost $36,647.51 including fees.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.75% would cost $35,190.18 including fees.
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.95% would cost $35,599.71 including fees.
Terms from 2 to 7 years. Representative example: a 3 year $10,000 loan at 6.95% would cost $11,107.53 including fees.
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 7.59% would cost $36,844.34 including fees.
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