Get a competitive rate and have the flexibility to make additional repayments at any time without a fee.
Category: Personal Loans Last Updated October 14, 2024 Effective November 1, 2024
General Lending Rates
Rates listed below are for a VARIABLE product. Additional Information To qualify for the medical education interest rate, at least one loan purpose of your personal loan must be for medical education costs at approved colleges and institutions. Your interest rate will be based on a number of factors, including the information you provide and our assessment of your application. We'll confirm your actual interest rate in your loan offer document. Comparison rate: 8.90% to 9.89% are based on an unsecured loan of $30,000, over a term of 5 years. Warning: Comparison rates are true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Interest Rate 7.50% PA
Comparison Rate 8.90%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
, VARIABLE, 20.50%
Lending Rate Type: Variable
Interest Rate: 20.50%, Comparison Rate 21.79%
Repayment Type:
Loan Purpose:
, VARIABLE, 16.00%
Lending Rate Type: Variable
Interest Rate: 16.00%, Comparison Rate 17.32%
Repayment Type:
Loan Purpose:
, DISCOUNT, 7.50%
Lending Rate Type: Discount
Interest Rate: 7.50%, Comparison Rate 8.90%
Repayment Type:
Loan Purpose:
, DISCOUNT, 8.50%
Lending Rate Type: Discount
Interest Rate: 8.50%, Comparison Rate 9.89%
Repayment Type:
Loan Purpose:
, VARIABLE, 7.50%
Lending Rate Type: Variable
Interest Rate: 7.50%, Comparison Rate 8.90%
Repayment Type:
Loan Purpose:
, VARIABLE, 8.50%
Lending Rate Type: Variable
Interest Rate: 8.50%, Comparison Rate 9.89%
Repayment Type:
Loan Purpose:
Product Features
OtherAdditional Information: 1 to 7 years.
OtherAdditional Information: Pay weekly, fortnightly or monthly via direct debit. If you pay by any other means, your repayments will be monthly.
Digital BankingAdditional Information: Wherever you are in the world, CommBank gives you the choice and control to securely manage all of your accounts on a range of devices, the way you want.
Extra RepaymentsAdditional Information: You can make additional repayments or repay your loan in full at any time. Additional repayments may enable you to redraw funds, subject to conditions.
OtherAdditional Information: Get a competitive rate and have the flexibility to make additional repayments at any time without a fee. If you have a variable interest rate, we can change your interest rate by changing the reference rate and your margin.
OtherAdditional Information: You may be eligible for same day funding if you're approved, accept your contract and complete verification by 4pm Monday to Friday (Sydney/Melbourne time). Subject to credit checks and assessment of your financial situation. Unavailable for secured loans, if an application is incomplete or needs to be referred for a more detailed review by a lending specialist, if required documentation isn't provided and subject to system availability.
RedrawAdditional Information: If you have made additional repayments, you may be able to access these funds through your redraw facility. You can check your available redraw balance online or by contacting us.
OtherAdditional Information: Security is not required for this loan type.
Product Eligibility
Natural Person - Be An Individual. Additional Information: Individuals must have the legal capacity to enter into the loan contract. Not available for non-personal borrowers.
Min Age - 18.
Residency Status - Must Live In Australia And Be Either: An Australian Citizen, An Australian Permanent Resident (permanent Visa Sub Class Holder), A New Zealand Citizen, Or Eligible Non-resident Visa Holder..
Other - Credit Approval. Additional Information: Meet CBA's credit assessment criteria which includes demonstrating the capacity to make the required repayments on the credit facility without substantial hardship.
Other - Maximum 1 Borrower Per Application. Additional Information: The maximum number of borrowers eligible to apply per application is one.
Bank Fees and Charges
Establishment Fee (Upfront), Amount: 250.00. Additional Information: Upfront cost payable when accepting a loan.
Loan Service Fee (Periodic), Amount: 15.00. Additional Information: Monthly charge to cover costs of keeping account active.
Late Payment Fee (Event), Amount: 20.00. Additional Information: May be payable on the fifth business day after the repayment due date if at the end of the previous business day your loan is in arrears.
Settlement Cheque Fee (Event), Amount: 30.00. Additional Information: Cheques provided to help you pay different recipients with your loan borrowings.