Commonwealth Bank
Secure a personal loan with flexible terms, $250 establishment fee waived, competitive rates, and up to $400 cashback for eligible car loan customers.
CommBank’s standout personal loan offer lets you borrow between $4,000 and $50,000 over a one to seven year period. Right now, borrowers receive a $250 waiver on the usual establishment fee, making this an attractive limited-time deal. Interest rates span from 7.00% p.a. to 22.00% p.a., subject to individual circumstances and credit history.
Repayments remain flexible, with options for fixed or variable rates. If you’re after a new car, CommBank offers up to $400 cashback for eligible customers who use a Secured Fixed Rate Car Loan through the Cars for CommBank platform. These features combine to offer both flexibility and significant upfront savings.
How to Apply for a CommBank Personal Loan
- Fill in the online application form through the CommBank website.
- Receive a response within seconds after submission.
- If approved, review and accept your loan contract online.
- Submit any required documents such as ID or proof of income if requested.
Key Advantages
Foremost, the $250 establishment fee waiver means immediate savings. Additionally, flexible loan amounts and terms suit a variety of borrowing needs without restrictive red tape.
Car buyers who are CommBank Yello customers benefit from an enticing cashback bonus, helping reduce the overall cost of finance even further—an offer rarely seen across the market.
Notable Disadvantages
Applicants with lower credit scores may face interest rates at the higher end of the range, pushing up total repayments. The limited offer period also restricts when you can apply and benefit from savings.
Secured car loan cashback is restricted to purchases via the bank’s specific car platform, narrowing the field for buyers wanting a broader choice of vehicles or vendors.
Our Verdict
CommBank’s personal loan offer delivers cost savings, simple application, and extra rewards for the right borrower. The fee waiver and cashback are ideal for those who qualify and act within the time frame.
While rates depend on individual creditworthiness, strong applicants stand to gain the most. For flexible, straightforward borrowing with bonus perks, this offer is well worth considering.
