CommBank fixed-rate personal loan with low 8.50% p.a., $0 establishment fee and fast approval up to $50k
CommBank fixed-rate personal loan with 8.50% p.a. and $0 establishment fee, fast online approval, flexible 1–7 year terms, predictable fortnightly repayments and funds up to $50,000 across Australia
Overview of the CommBank fixed-rate personal loan
The CommBank fixed-rate personal loan is a straightforward option for Aussies looking for predictable borrowing. It offers a locked interest rate so your repayments don’t jump around, making budgeting simpler.
Borrow between $4,000 and up to $50,000 with terms from 1 to 7 years, and benefit from quick online approval and the convenience of fortnightly repayments if that suits your cash flow.
Key features and main benefits
This fixed rate personal loan advertises a competitive 8.50% p.a. interest rate with a comparison rate around 9.53% p.a., and a $0 establishment fee when the loan is funded by the specified date. It’s unsecured, so you don’t need to put up your house or car as security.
Other plus points include fixed repayments for peace of mind, a simple online application via the CommBank app or website, and common uses like car purchases, renovations, holidays or debt consolidation across Australia.
Rates, fees and repayment details
The headline fixed rate is 8.50% p.a., while the comparison rate gives a fuller picture at about 9.53% p.a., taking typical fees into account. There’s a monthly account fee of $15 to factor into your budget.
You can choose weekly, fortnightly or monthly repayments; fortnightly is popular here. Extra repayments are allowed but limited to $1,000 per year, and early payout conditions may apply, so check the terms before you sign.
Who it suits and how to apply
This CommBank fixed-rate personal loan suits borrowers who want stability in repayments and prefer the certainty of a fixed interest rate. It’s a good match for employed Australians with regular income who need up to $50k for vehicles, home projects or consolidating higher-rate debt.
Applying is simple: have your ID, payslips and bank statements ready, apply online through CommBank, and you could see funds in your nominated account often within one business day after approval. Always compare the comparison rate and read the product disclosure statement first.