Commonwealth Bank Personal Loans

Commonwealth Bank Personal Loans

Commonwealth Bank Personal Loans
1.9

34 reviews

PositivevsNegative
21% · 725 · 74%

Loan TypeFixed Rate (7), Variable Rate (6) and Line of Credit (1)
Loan Term3.8 years
Transparency
1.8 (17)
Customer Service
1.9 (18)
Application Process
1.6 (17)
Timeliness
1.6 (17)
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Reviews

34 reviews
Eco
EcoSydney, NSW2 posts
 

False Hope

I should have listened to the reviews. Was attracted to the low rates. Got conditional approval for a car loan. Upon providing all the relevant documents, Declined. Well they had collected TONS of data from us. For them its a win, too bad for us, lost time and effort. Left us hanging. Show details
Raj
Raj
 

Yes Terrible

Takes weeks and weeks to follow up. You have give same information for all agents 10 times.
Ellie
Ellie6 posts
  Verified
Customer Service
John O.
John O.
 

Saving account dispute Rejected

I live in Qld and someone spent $514.00 in my saving account in Perth and reported to Combank immediately. Dispute was lodge for more than 51 days.
Later got a message that my dispute was not successful coz either one of my family or myself spent the money.
T D.
T D.Sydney, NSW4 posts
 

Got a message that I was conditionally approved for Steppay

Got a message that I was conditionally approved for Steppay, clicked the apply then got rejected! For F sakes dont send me Spam! I have good savings and only wanted to use this possibly on Amazon as they dont accept Afterpay. Show details
Kristie
KristieSouth East Queensland, QLD4 posts
 

CommBank or ConBank?

Commbank conditionally approve, then waste your time and money getting you to put deposit on car, insurance, tax invoice etc (that part was a nightmare as commbank refused to request it, and car yard refused to give unless commbank requested it). Spent a week just to be told oh wait, you are casual (working 50+ hours a week for the last 18 months mind you) so we cant help. Why don't they check payslips first rather than last? How ridiculous! So I now have a big fat enquiry from them on my credit rating when they had no intention of approving the loan. Thankfully another company were happy to, for the same rate! I will be dumping commbank after this absolute joke of an experience. Show details
Carl
CarlMetropolitan Adelaide, SA3 posts
 

Zero for everything

Worst service. Almost every staff member had NO idea at all about the process. Some staff members even talked badly about their own employer. One said 'Now, why have we asked you to come in to the branch'. Signed paperwork last night, told funds would be in the account in half an hour, still waiting at 1230 next day. Absolutely pathetic. Been with this bank for 50 years. Time to find a bank what knows what they are doing and knows how to treat its customers!! Show details
Carmelo C.
Carmelo C.Sydney, NSW
 

Waste of time going for a personal loan

I was conditionally approved and then got declined, been with bank for 35 years, paid a homeloan, never had bad credit or anything, first time asking for a personal loan waste of time, went from call center personal loan to cba branch personal loans, they kept on passing this back and forth to each other. I just wanted a loan I even had to reduce it multiple times to see if I can borrow less very bad service for CBA, finding excuses wouldn't go for CBA no trust anymore! Show details
Mike
Mike
 

They will waste your time

I was conditionally approved and encouraged to apply. Went through the application process and completed everything. I was approved and received the contract with the rate and schedule. Then I received a message that requested more documents. Uploaded all of them as well. Two days later, the contract message disappeared and the section in the app disappeared as if I have never applied or received any contract. I wasn't even told that it was declined. When i asked them what happened they simply said the amount you requested is more than the loan capacity you got.
They have verified my income 30% below my current income which interesting gets deposited in the CBA account on a regular basis. Show details
Transparency
Customer Service
JPP0309
JPP0309Melbourne2 posts
 
Ratika
RatikaSydney, NSW2 posts
 

Very Pathetic system they have

I applied for a personal loan , it got approved and after that they wanted some documents which i provided after a day they asked me clear my credit card to finalizing my personal loan .. when i called them i asked them what if i pay my credit card and then you declined my personal loan ? they said before that we cannot finalize your personal loan application whilst you have to pay your cc.. i paid and after 10 mins i got declined ... very very bad services i wish i could move my whole banking system to anz at least they are very much clear ...
rease l.
rease l.Sydney, NSW2 posts
 

Better rates with better credit score

I applied for personal loan but didn't like the rates. I have been working with commonwealth for a long time now, so I was disappointed. However, when I worked with a credit repair service to improve my credit score and applied for the loan again, I got much better rates. So, I am kind of neutral but appreciate the better rates anyway. Show details
kars b.
kars b.South East Queensland, QLD2 posts
 

ZERO stars

9k loan approved then funds reversed. Had signed for car, organised insurance paid 3.3k for upgrades etc. 13 k saved.
Now I'm left to clean up mess no doubt at cost to myself and at the mercy of loan sharks.
No help given, rude customer service. ZERO. Show details
Transparency
Customer Service
Application Process
Timeliness
Jess
Jess7 posts
 
GAUTAM
GAUTAMMacGregor 2615, ACT21 posts
 

"Terrible" is an understatement!!

I would give them -5 stars if I could. They will waste your time & you will get no where with your personal loan application. Not sure if their staff know what they are selling or how they should sell the product. They have probably got a checklist on their screen & I don't think they have any knowledge. Anyway I rate them as " Hopeless".

Questions & Answers

Robert W.
Robert W.

Do you send money and we have to send it back then you send the whole loan amount

Lis
Lis

Dear commbank,
I've previously had personal loans that have been paid off. I've recently applied for a loan and it was pre-approved and then declined. I phoned to speak to someone regarding the situation and they said they couldnt give me a reason as to why it was declined but they gave me a list that of reasons that it could be. If I continue to apply and get declined will i get a bad credit rating?

Details

CategoryPersonal Loans
Interest RateFrom 5.99% p.a.
Comparison Rate From 7.05% p.a.
Monthly Fee $10
Application Fee $150
Repayment FrequencyFortnightly, Monthly and Weekly
Loan Amount $4,000 to $100,000
SecuritySecured and Unsecured
Loan Term1 to 7 years
Rate TypeFixed and Variable
Redraw AvailableYes
Line of Credit Available No
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Contact info for Commonwealth Bank Personal Loans

  • ABN: 48123123124

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