CommBankUnsecured 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.
At a glance
- Variable
- 6.99%8.04% comparison
- Upfront fee
- $0
- Monthly fee
- $15
Rates
Every rate CommBank publishes for this personal loan, 5 in all.
| 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 | - | - | 16.99% | 17.91% | - |
| 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 | - | - | 23.99% | 24.85% | - |
Fees
4 fees published, grouped by when they're charged.
- When you take it outNo feeEstablishment Fee
- While you hold it$15 a monthLoan service fee
- When you close it or pay it offNo fee published
When you take it out1
- Establishment Fee
Upfront cost payable when accepting a loan.
No fee
While you hold it1
- Loan service fee
Monthly charge to cover costs of keeping account active.
$15 a month
If a payment is late or fails1
- Late payment fee
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.
$20
Other fees1
- Settlement cheque fee
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.
$15
Features
- 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.
Eligibility and 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.
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Published by CommBank under the Consumer Data Right, last changed by them on 1 Oct 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.