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Commonwealth Bank Personal Loans

Commonwealth Bank Personal Loans

2.6 from 18 reviews

See the Best Personal Loans in 2019 as rated by Australians on ProductReview.com.au.

Reviews

Review distribution

5 star
3
4 star
3
3 star
2
2 star
3
1 star
7

Manda Cooper

Manda CooperQueensland

  • 4 reviews

Biggest Waste of Time

published
Transparency
Customer Service
Application Process
Timeliness
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DianeKayGee

DianeKayGeeHobart, TAS

Quick, easy and hassle-free

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateOctober 2019
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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.

Transparency
Customer Service
Application Process
Timeliness
See all answers
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

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJune 2016
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Max S

Max SGreater Melbourne (Metropolitan), VIC

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.

Loan TypeVariable Rate

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


Chris

ChrisOxenford

  • 3 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.


ConfusedMuch

ConfusedMuchAustralia

  • Verified customer

Approved then Declined!!

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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.

Graham K

Graham KGold coast

  • 3 reviews
  • 6 likes

Changed my Direct Debit amount without consent

published

Kitty 1

Kitty 1Rockingham

  • 4 reviews
  • 7 likes

Not great !!!!

published

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.


corneyau

corneyauSouth East Queensland, QLD

  • 13 reviews

Easyto apply

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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.


Brettclarke

BrettclarkeNorthern Region, NSW

  • 9 reviews
  • 6 likes

Wouldn't approve debt consolidation loan.

published

I needed to consolidate my debt badly and if the loan was approved I would have saved $600 per month. CommBank told me that my credit score was fine, however the system has declined me due to not meeting the lending criteria as it appears to them that I can't afford the replayments???!! . I was already paying $1000 a month on all my debts and they wouldn't help me. I applied for a loan with a different lender and was approved Instantly and now save $600 a month with my new loan. So much for being a loyal customer to CommBank for 19 years and they can't help you when you need help the most.

J Turner

J TurnerMelbourne

  • 2 reviews

Won't give you pay out figure

published

Charging 17% interest. Went into branch to close my account today as it is at an amount I can afford to pay off. Would not give me my pay out figure. Was told I have to wait as the $200 I transferred from my linked accounts had not hit my account - which is incorrect as I could see the payment. Now I have to wait and endure more 17% interest. This should be criminal I am sick of these big 4 banks taking advantage. Once they "let" me close my loan I will be closing all my other accounts too. Taking my business elsewhere.

LBmmmr

LBmmmrQueensland, Australia

  • 7 reviews
  • 22 likes

Easy to apply

published

Easy to apply online via NetBank. Approved within 60 seconds. Funds in account that night. Interest rate is a bit high however on variable rate you can smash your payments without penalty and now I'm in a better position financially. That's what I'm doing.


Bassett

Bassett

  • 26 reviews
  • 22 likes

Online process cumbersome and slow

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cityofbluemtns

cityofbluemtnsNSW, 2786

  • 47 reviews
  • 20 likes

Good

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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?

No answers

Get an answer from our members and Commonwealth Bank representatives

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