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Commonwealth Bank Personal Loans

Commonwealth Bank Personal Loans

2.3 from 25 reviews · View Statistics

Reviews

  • Transparency
    2.2 (10)
  • Customer Service
    2.3 (10)
  • Loan TypeFixed Rate (3) and Variable Rate (4)
  • Application Process
    2.0 (10)
  • Timeliness
    2.0 (10)
  • Loan Term2.8 years
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Ratika

RatikaSydney, NSW

Very Pathetic system they have

published

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 ...

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Plenti Personal Loan

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Ronald

RonaldSydney, NSW

  • 6 reviews
  • 6 likes

Personal loan approved then asking more docs

published

Applied for loan always bank with cbā and they approved my loan then asked for more documents which the system wont allow me to upload so i needed to email it

I have not heard back at all for over a week really poor form i needed this loan not to take more then 2 weeks thats the purpous or a personal loan quick funds when in need

0 stars for service.

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rease l.

rease l.Sydney, NSW

  • 2 reviews

Better rates with better credit score

published

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.

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kars b.

kars b.South East Queensland, QLD

  • 2 reviews
  • 1 like

ZERO stars.

published

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.

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Jess

Jess

  • 5 reviews
  • 2 likes

Pathetic. So annoyed that I’m changing banks

published
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GAUTAM

GAUTAMMacGregor 2615, ACT

  • 10 reviews
  • 14 likes

"Terrible" is an understatement!!

published

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".

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Plenti Personal Loan

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constructive advice - Not CBA fault

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Manda Cooper

Manda CooperQueensland

  • 4 reviews
  • 10 likes

Biggest Waste of Time

published
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DianeKayGee

DianeKayGeeHobart, TAS

Quick, easy and hassle-free

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No reward for loyalty worst bank I have ever dealt with. GOODBYE Commonwealth!

published

I have been a Commonwealth customer for 20 years . I have had numerous loans in the past with them and a home loan . My recent experience with them was disgraceful much like every other customer here, I was approved and then declined no reason why. I am in a better financial position I have ever been in as I sold my house and banked the cash and still declined. Not only that they treated me like I was an idiot through the process. All my savings and money from my house sale will be taken out of Commonwealth Bank and all accounts closed. 20 years of loyalty means nothing, if you bank with them get out!

ING no bank fees here I come.

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Rachael

RachaelGreater Melbourne (Metropolitan), VIC

  • 3 reviews

Easy to deal with

published

Reasonably easy to deal with bank, was able to pay off my personal loan in under agreed time with little hassle. No hidden fees, bank was upfront regarding fees, just had a little trouble turning off the direct debit

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Masoud

MasoudGreater Melbourne (Metropolitan), VIC

  • 2 reviews
  • 5 likes

Terrible service

published

Personal loan approved and then declined in next day with no reason.dissapointed. what a waste of time to go to branch to supply residency document. wouldnt recommend this terrible service to anyone.

Incentivised ReviewNo
Loan TypeVariable Rate
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Plenti Personal Loan

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Terrible service

published

Wouldn’t recommend to my worst enemy as I was approved for a loan then declined 2 days later I was very disappointed

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Chris

ChrisSouth East Queensland, QLD

  • 4 reviews
  • 2 likes

good customer service fast loan application

published

I took out a fixed loan, and I was pretty happy on the customer service transparency of fees charged. The interest rates may not be cheap however there are no sneaky charges involved. I recently took out a loan with ratesetter, supposedly because of all the good reviews and I have already paid double the amounts I would of paid with Commonwealth bank.

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ConfusedMuch

ConfusedMuchAustralia

  • Verified

Approved then Declined!!

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Personal Loans

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Kenzie

KenzieMackay

Amazing and loving customer service

published

Deborah at the Commonwealth Bank in Mount Pleasant was so amazing to us. Just moving to Mackay NAB screwed us over, so we went in and Debby took us right in, went through everything carefully and honestly and set us up. I’ll never forget her kindness and pay it forward.

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Graham K

Graham KGold coast

  • 3 reviews
  • 6 likes

Changed my Direct Debit amount without consent

published
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Kitty 1

Kitty 1Rockingham

  • 4 reviews
  • 7 likes

Not great !!!!

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Plenti Personal Loan

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Brett M

Brett MAU

  • 8 reviews
  • 1 like

Great Experience

published

I have banked with Commonwealth for 30 years and never had a personal loan. I applied for a variable loan and they have been fantastic. Called on a Monday night, the staff member i spoke to was very friendly and efficient and the money was in my account on Wednesday afternoon. I am able to make extra payments and can redraw if needed.
I would recommend Commbank to everyone.

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corneyau

corneyauSouth East Queensland, QLD

  • 13 reviews
  • 2 likes

Easyto apply

published

We were in the bank applying for a car loan when the finance officer said he could consolidate all our other loans and credit cards into one bill. We were approved fairly quickly, it all went very smoothly. While the interest rate may not be the best, all the banks appear to be about the same.

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Questions & Answers

Lis

Lisasked

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?

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Details

CategoryPersonal Loans
Interest Rate12.99% p.a.
Comparison Rate 13.86% p.a.
Monthly Fee $10.00
Application Fee $150.00
Repayment FrequencyFortnightly, Monthly and Weekly
Loan Amount $4,000.00 to $50,000.00
Loan Term1 to 7 years
Rate TypeFixed
Redraw AvailableYes

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