About Commonwealth Bank personal loans
The Commonwealth Bank of Australia is one of Australia’s big four banks and has been providing banking services for more than 100 years. Besides personal loans, CBA offers its customers a range of products, including home loans, car loans, savings and transactions accounts, credit cards and insurance products. It also offers wealth planning and superannuation advice.
Features of a Commonwealth Bank personal loan
Commonwealth Bank offers both variable-rate and fixed-rate personal loans. Borrowers can receive personal loans of up to $50,000, subject to approval. The loans can be repaid over one to seven years, in either weekly, fortnightly or monthly instalments. Additional repayments of up to $1,000 per year are allowed.
Borrowers pay an upfront fee to establish the personal loan and then monthly account-keeping fees. Depending on how they manage the personal loan, borrowers may also be charged settlement cheque fees, late payment fees, electronic banking fees and early repayment fees.
CommBank offers same-day funding of personal loans – assuming you apply and receive approval on a weekday by midday Sydney time.
To get an idea of your eligibility and how your repayments would look with a CBA personal loan, visit the Commonwealth Bank personal loan calculator.
Commonwealth Bank personal loan summary
- Borrow $4,000 to $50,000
- Loan terms of 1-7 years
- Variable and fixed-rate loan options
- Weekly, fortnightly or monthly repayments
- Extra repayments of $1,000 per year
- Same-day funding
- Establishment and monthly fees