HomePersonal LoansCommBankVariable Rate Personal Loan

CommBank Variable Rate Personal Loan

The CommBank Variable Rate Personal Loan offers rates from 8.00% p.a. (9.05% p.a. comparison rate*). on loans of $4,000 to $50,000.


Updated 28 September 2023

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Expert Review

CommBank's Variable Rate Personal Loan is an unsecured loan. It has a variable rate from 7.50% to 19.50% p.a. (8.20% to 20.10% p.a. comparison rate). You can borrow from $4,000 up to $50,000 and choose a loan term of 1-7 years with an establishment fee of $150 and ongoing fee of $10 per month.

According to Stay or Go's personal loan comparison review, this product ranks amongst the 25% lowest interest rates when compared to other unsecured, variable rate loans in market. It is a competitive choice for borrowers looking for consolidation debt or finance for renovations or holidays alike. Other benefits include same day finance availability, flexibility to redraw additional repayments made previously and no fee charged for paying out the loan early - all factors that make this product attractive for many different borrowing needs.

Product Details
Fees

$150 establishment fee

$10 ongoing monthly fee

No early repayment fee

Other fees may apply.

Rates

Fixed rate from 8.00% to 20.00% p.a.

Loan Amount

From $4,000 to $50,000

Loan Terms

1, 2, 3, 4, 5, 6 or 7 years

Unsecured loan

Features

Redraw extra repayments that you have made

TMD

Before applying for this product, you should read the Target Market Determination (TMD) available here on the CommBank website.

More information
The comparison rates on this page are based on either a $30,000 loan over 5 years, or a $10,000 loan 3 years, as indicated with each rate. WARNING: This comparison rate applies only to the example given and may not include all fees and charges. Different terms, fees or loan amounts might result in different comparison rates.
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