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 2027 reviews

Price

Features

Customer service

Convenience

Trust

Featured personal loan from Commonwealth Bank

Recent Commonwealth Bank personal loan reviews

Commonwealth Bank

Commonwealth Bank Secured Car Loan (Fixed) personal loan review

Overall rating   3 / 10

Need better assistance

I am not happy with the loan department. Been with the same bank for a lot of years and they have not been very helpful.

Full review

I am not happy with the loan department. Been with the same bank for a lot of years and they have not been very helpful.

    Price   6 / 10

    Features   3 / 10

    Customer service   6 / 10

    Convenience   5 / 10

    Trust   8 / 10

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Allan, New South Wales, reviewed 6 days ago

Commonwealth Bank

Commonwealth Bank personal loan review

Overall rating   1 / 10

Bad

Would not recommend Commonwealth Bank to anyone.

Full review

Would not recommend Commonwealth Bank to anyone.

    Price   3 / 10

    Features   1 / 10

    Customer service   1 / 10

    Convenience   3 / 10

    Trust   1 / 10

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Joseph, Victoria, reviewed 7 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   2 / 10

Was not happy

I applied for a loan and had a machine ask me questions. A real person then started talking to me and started typing out questions for me to answer which I did not enjoy at all. They said it would take around 20 minutes but i ended up being on the...

Full review

I applied for a loan and had a machine ask me questions. A real person then started talking to me and started typing out questions for me to answer which I did not enjoy at all. They said it would take around 20 minutes but i ended up being on the line for over an hour so I just hung up.

    Price   2 / 10

    Features   2 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   2 / 10

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Ana, New South Wales, reviewed 13 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   0 / 10

Bad

They scam you into signing up then they charge you with all hidden rates.

Full review

They scam you into signing up then they charge you with all hidden rates.

    Price   3 / 10

    Features   1 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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John, New South Wales, reviewed 15 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   10 / 10

They have great customer service

I have always banked with Commonwealth and I am very satisfied with their services.

Full review

I have always banked with Commonwealth and I am very satisfied with their services.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Ivy, Queensland, reviewed 15 days ago

Commonwealth Bank

Commonwealth Bank Secured Car Loan (Fixed) personal loan review

Overall rating   7 / 10

Greatest

Their personal loan was very helpful in purchasing my new car.

Full review

Their personal loan was very helpful in purchasing my new car.

    Price   5 / 10

    Features   5 / 10

    Convenience   7 / 10

    Trust   8 / 10

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Mark, Queensland, reviewed 22 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   3 / 10

Untrustworthy

They have a lot of hidden fees.

Full review

They have a lot of hidden fees.

    Price   4 / 10

    Features   4 / 10

    Customer service   4 / 10

    Convenience   3 / 10

    Trust   3 / 10

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Haley, Victoria, reviewed 27 days ago

Commonwealth Bank

Commonwealth Bank Unsecured Personal Loan (Variable) personal loan review

Overall rating   9 / 10

Easy as

Easy to organise online.

Full review

Easy to organise online.

    Price   9 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   10 / 10

    Trust   9 / 10

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Lance, Queensland, reviewed 27 days 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

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Maria, South Australia, reviewed 2 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

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Maria, Victoria, reviewed 2 months 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

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Shuai, New South Wales, reviewed 7 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

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Tracey, Victoria, reviewed 7 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

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Andrew, New South Wales, reviewed 7 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

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Brody, Victoria, reviewed 7 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

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Te arohanui, Queensland, reviewed 7 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

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Tiara, Western Australia, reviewed 8 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

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Leena, Victoria, reviewed 8 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

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Laura, New South Wales, reviewed 8 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

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Julie, Western Australia, reviewed 8 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

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Wee, Tasmania, reviewed 8 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

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Heather, Queensland, reviewed 8 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

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Jacquilyne, Tasmania, reviewed 8 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

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Michael, Tasmania, reviewed 8 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, Queensland, reviewed 8 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

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Chris, Western Australia, reviewed 9 months ago

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Personal loan comparisons on Mozo - rates updated daily

  • 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

    4.0

    Based on 2 SocietyOne 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

    7.6

    Based on 15 Bank Australia personal loan reviews

    Need more information?
    Go to site

    More info

  • ANZ Unsecured Personal Loan (Fixed)

    ANZ Unsecured Personal Loan (Fixed)

    • A Fixed Personal Loan with terms from 1 to 7 years
    • 60 Sec. Response time
    • Borrow up to $50,000

    interest rate

    10.99% p.a.

    comparison rate*

    11.87% 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 10.99% would cost $40,177.39 including fees.

    • A Fixed Personal Loan with terms from 1 to 7 years
    • 60 Sec. Response time
    • Borrow up to $50,000
    • Other benefits: ANZ Loan Protection Insurance available.
    • Upfront fee: $150
    • Monthly fee: $10.00
    • Exit fee: $300.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    Overall rating

    6.9

    Based on 1143 ANZ personal loan reviews

    Need more information?
    Go to site

    More info

  • HSBC Unsecured Personal Loan (Fixed)

    HSBC Unsecured Personal Loan (Fixed)

    • Apply online and get an instant response in 60 seconds
    • Borrow from $5,000 up to $50,000
    • Fixed set monthly repayment terms to help you manage your budget

    interest rate

    9.50% p.a.to 15.99% p.a.

    comparison rate*

    10.06% p.a.to 16.53% p.a.based on $30,000
    over 5 years

    fees

    $150.00upfront
    and
    $5.00/month

    Go to site

    More info

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 9.50% would cost $38,253.35 including fees.

    • Apply online and get an instant response in 60 seconds
    • Borrow from $5,000 up to $50,000
    • Fixed set monthly repayment terms to help you manage your budget
    • Other benefits:
    • Upfront fee: $150
    • Monthly fee: $5.00
    • Exit fee: $0.00
    • Repayment options: Monthly
    • Security required: Unsecured
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 5 Years
    Overall rating

    6.4

    Based on 19 HSBC personal loan reviews

    Need more information?
    Go to site

    More info

  • MyState Bank General Purpose Personal Loan (Variable, Unsecured)

    MyState Bank General Purpose Personal Loan (Variable, Unsecured)

    • Fast online conditional approval and same day funding available
    • Borrow anything from $3,000 to $50,000 with loan terms up to 7 years
    • Free online redraws and no penalties on early loan payout or lump sum payments

    interest rate

    12.99% p.a.

    comparison rate*

    16.42% p.a.based on $10,000
    over 3 years

    fees

    $200.00upfront
    and
    $10.00/month

    Go to site

    More info

    Terms from 1 to 7 years. Representative example: a 3 year $10,000 loan at 12.99% would cost $12,688.09 including fees.

    • Fast online conditional approval and same day funding available
    • Borrow anything from $3,000 to $50,000 with loan terms up to 7 years
    • Free online redraws and no penalties on early loan payout or lump sum payments
    • Other benefits:
    • Upfront fee: $200
    • Monthly fee: $10.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Unsecured
    • Minimum loan amount: $3,000.00
    • Maximum loan amount: $50,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    Overall rating

    7.5

    Based on 30 MyState Bank 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 202 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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