Important disclosure
Calculate your repayments for this loan
Your estimated repayment
$947
based on $30,000 loan amount for 3 years at 8.49%
Pros and cons
For Personal Loan Fixed
Benefits
- Lower than average rate
- No early exit penalty
- Flexible repayment options
- No security required
- Can apply online
- Can apply in branch
- Use the loan for any worthwhile purpose
- Fast time to funding
Drawbacks
- Service fee charged
- Extra repayments limited $1000
Commonwealth Bank Rate Personal loan overview
For Personal Loan Fixed
Details
Total repayments $34,088 | Interest rate type Fixed |
Borrowing range $4k - $50k | Security type Unsecured |
Loan term 2 to 3 years | Secured by |
Loan type Is Fully Drawn Advance | Repayment frequency Weekly, Fortnightly, Monthly |
Target Market Determination Visit Commonwealth Bank of Australia to view Target Market Determination. |
Features
Extra repayments Yes - limited to $1,000 per year | Redraw facility redraw activation fee of $0 |
Instant approval | Time to funding 24 hours |
Fees
Upfront Fee $0 Unsecured Fixed Rate Personal Loans when you apply and fund between 1 March 2024 and 30 April 2024~. | Ongoing Fee $15 Monthly |
Missed Payment Penalty $20 | Early Exit Penalty Fee Fee Applies |
Permitted Loan Purposes
New Car | Used Car |
Motorcycle | Boat |
Debt Consolidation | Renovation |
Holidays | Medical Bill |
Shares | Student Loan |
Wedding |
Other Restrictions
Early exit fees may apply.
FAQs
How long are $3000 loans?
Medium amount loans can be repaid between 16 days and 2 years. Many personal loans have terms between 1 year and 5 years, though some are as short as 6 months while others last for 10 years.
Generally, the shorter a loan’s term, the more expensive your regular repayments may be, but the less total interest you’ll pay. Loans with longer terms mean more affordable repayments, but more interest charges over the full term.