Commonwealth Bank Personal Loans

I did all my research on my eligibility, I was not a CBA customer, CBA assured me I was eligible. My Loan was instantly declined on my application, I already transferred by bank account over to CBA.
Turns out I was a "High Risk" Because I was not a long term banker, & My first Loan & I had only been in my Job for 5 months so I was declined. CBA staff were Lovely about it & thought it would be approved & apologised and offered me credit card deals.
Turns out if you are not a banker for 3 months or more with a bank lender you will most likely ge...Read more

I recently applied for a personal loan through Commonwealth bank to consolidate 2 credit cards. I have had recent loans through CBA with no issues and always paid on time and paid out early. I applied through netbank and was instantly approved, they asked for my latest payslip which I sent then they sent me my contract which I accepted. The next day I logged on and it showed my loan was now declined and I received a msg saying they want further info. So for the following 2 weeks I had to send them statements after statements numerous times beca...Read more

My personal loan experience with Commbank was hassle-free and easy. It was completed in less than 24hrs from lodgement of application to transfer of funds in my account. The online application was simple and easy to fill-up. Perhaps, it helped that I am banking with them since 2016 and maintained a good credit file.

There were no hidden fees, they were upfront about $10 monthly loan fee on top of repayments and their terms and conditions are clear and succinct. You also have the option to choose whether to pay it off quicker. (The local ANZ b...Read more

I had applied for personal loan with cba, i also bank with. I get an immediate email congrats you have been pre-approved in principal, providing that send all necessary documentations for verification. Within minutes of this email, i checked back online internet banking and seen progress email for personal loan that its been declined? This was on a Friday week ending. I hadn't sent paperwork in yet? Come next Monday i get a text and several emails stating currently awaiting documentation for verification please send us to process? After explain...Read more

I have a Personal Loan with CBA and had nominated a direct debit amount that was higher than the minimum monthly repayment amount - You know, so I could pay the debt off faster, therefore reducing the interest I have to pay them.
Without my consent they changed my nominated direct debit amount to the minimum repayment amount. When I rang to ask why they said "It's a bank wide change because previously people who would have paid their loan off before the original loan term will now be paying their loan off within the full loan term" - Translati...Read more

I applied for a loan to consolidate all of my credit cards and other small loans with cba, i have never had any issues with them at all and had been banking with them for a number of years.
They approved the loan and said the money would be transfered into my account within 24 hours, i could then bpay all of the debts myself and send screen shots to show the bank i have made the payments.
Well 2 days later still no money ? So i called the bank to find out if there was any problems, they said they had made payments on my behalf and wrote th...Read more

I was buying a car and while I had enough cash, I thought if I took a small loan I would not be caught short if unexpected expenses occurred. I have mortgage with Commonwealth and with another bank. All in good condition, earnings good, no bad history. Should be a breeze. The product I sell for a living involves many clients using finance and I know financial lending criteria.

The problem arose when Commonwealth asked for statements.I have savings accounts, fixed term deposits, cash accounts and share accounts.Banks provide statements at reg...Read more

I applied for a personal loan on January 1, 2011 and on January 4 I had the money into my bank account. The process was very quick and easy as I was an existing customer with the bank. The staff are really helpful. The loan I have gets direct debited from my bank account on my pay day and I can (and do) pay additionally so that the loan is paid off early. To pay off the loan off early, unless the term is more than 2 years there is a $125 fee but to me I don't mind paying the fee because it's peace of mind knowing that my loan is gone. The staff...Read more