CommBank
Unsecured Variable Rate Personal Loan
Get a competitive rate and have the flexibility to make additional repayments without a fee with a CommBank Variable Rate Personal Loan.
Personal loansBank updated 23 Sept 2026
At a glance
- Variable
- 6.99% · 8.04% comparison
- Upfront fee
- $0
- Monthly fee
- $15
§ 01 — Rates · 5
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| DiscountTo qualify for the energy-efficient discount, you must use your personal loan to buy or install eligible products. Your interest rate will be based on a number of factors, including the information y… | P&I | — | — | 6.98% | 8.03% | Energy-Efficient Discount Rate 6.98% to 8.48% |
| DiscountTo qualify for the energy-efficient discount, you must use your personal loan to buy or install eligible products. Your interest rate will be based on a number of factors, including the information y… | P&I | — | — | 8.48% | 9.51% | Energy-Efficient Discount Rate 6.98% to 8.48% |
| VariableThe reference rate is the Standard Variable Rate which is currently 15.99% p.a. Your interest rate may be different and is based on a number of factors, including the information you provide and our… | P&I | — | — | 6.99% | 8.04% | — |
| VariableAt least half of our approved customers will receive the representative rate, or lower. It may not be the actual rate you receive. The reference rate is the Standard Variable Rate which is currently… | P&I | — | — | 15.99% | 16.93% | — |
| VariableThe reference rate is the Standard Variable Rate which is currently 15.99% p.a. Your interest rate may be different and is based on a number of factors, including the information you provide and our… | P&I | — | — | 21.99% | 22.87% | — |
§ 02 — Fees · 4
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Late payment fee | Late payment | $20 | — | 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 | Other | $15 | — | On funding if you require more than two cheques. Two free $15 for every additional cheque. Cheques provided to help you pay different recipients with your loan borrowings. |
| Loan service fee | Periodic | $15 | Every 1 mo | Monthly charge to cover costs of keeping account active. |
| Establishment Fee | Upfront | No fee | — | Upfront cost payable when accepting a loan. |
§ 03 — Features
RedrawExtra repaymentsDigital banking
- · 1 to 7 years.
- · Pay weekly, fortnightly or monthly via direct debit. If you pay by any other means, your repayments will be monthly.
- · 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 referen…
- · 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…
- · Security is not required for this loan type.
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: 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.
- · Available to individuals
- · Minimum balance $4,000
- · Individuals must be eligible to work in Australia
- · Individuals must be employed or receive regular income
- · Individuals must have a good credit rating
- · Individuals must not be going through the process of bankruptcy
- · Meet CBA's credit assessment criteria which includes demonstrating the capacity to make the required repayments on the credit facility without substantial hardship.
- · The maximum number of borrowers eligible to apply per application is one.
§ 06 — Run the numbers
Put this product through a calculator
Published by CommBank under the Consumer Data Right, last changed by them on 23 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.