Rating based on 73 reviews

Commonwealth Bank

  • Reliable student loans
  • Low-interest starting from 12.99%
  • Repayment up to 7 years

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Commonwealth Bank homepage
Author Commonwealth Bank. Screenshot of Commonwealth Bank website.
[Accessed March 17, 2023]

About Commonwealth Bank

In the Australian market, Commonwealth bank provides a vast range of financial products and facilities, making them a leading bank due to its’ exceptional client assistance.

Daily, they find solutions to more efficient banking methods, they then alter and modernize their systems to keep you up to date with the most recent. Consider Commonwealth bank to be your biggest fan and defense because they support businesses big or small, utilizing their business banking services. Two of their various expertise is that they have all-encompassing knowledge about fund management as well as superannuation (pension programs).

Listed as one of the major companies, you will find Commonwealth Bank, whose shares are traded on the ASX (Australian Securities Exchange). They always make sure to give their clients the best suitable loans for their inimitable circumstances.

A bank that is within arm’s reach

If you are an Australian, then you can visit Commonwealth Bank at 309-315 George Street in Sydney, Australia. Their operating hours are from Monday to Friday, as early as 09:30 in the morning, until 04:00 in the late afternoon.

The compassionate and competent employees of Commonwealth bank spend their Saturdays and Sundays with family, meaning that the office doors will be closed. If you are not from Australia, they recommend that you visit their online webpage for further info.

Commonwealth Bank Services

Acquiring a student loan with Commonwealth Bank has manifold flexibilities.

Your student loan limit starts from $400. Loaners will obtain a card for payments, which is accepted across the globe. They always provide security, as well as fraud monitoring around the clock.

Loan interest rates start from 12,99%, which is repayable in 1 to 7 years. When repaying your loan, the monthly installment is adjusted to an amount that would suit your pocket, without ripping it to shreds. Back-payments can be stretched from a 1 to 7 years period.

Student loans from Commonwealth Bank authorize youngsters and young adults to rest assured, as they embark on the journey of creating their bigger, brighter futures. With them, you can apply to your desired College or University with absolute independence and mobility.

New car loan, new wheels, new you

At Commonwealth bank they do not just approve loans based on random facts, they do in-depth research. Research about the terms and conditions, interest rates, and repayment options, to ensure that they provide you with the finest car loan for you.

Their car loans offer loan amounts up to $100 000, with the lowest interest rates. Interest rates start from 4,95%, along with flexible repayment terms, over the duration of 1-10 years. They compare their car loan options with that of other companies to ensure that they consider your needs and budget.

Commonwealth Bank – Student loan

  • Loan Type Student loans
  • Interest Rate from 12.99%
  • Repayment 1 year to 7 years

Benefits of Commonwealth Bank

  • Competitive interest rates
  • Savings accounts for students
  • Student benefit options

Student loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This student loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Commonwealth Bank Student Loans - getting you through your studies

Ensure that you have 15 to 20 minutes to complete the online application.

To apply you must have

  • Proof of Identity Document (ID).
  • Proof of physical address.
  • Receive an Income.
  • Be 18 years of age or older.
  • Be an Australian citizen or an international citizen.

Application for Australian Citizen

Step 1: Complete the online loan application form by answering a few simple questions like your full name, ID number, physical address, current income, monthly expenses, how much you would like to lend, and over what payment term, as well as the purpose of the loan (student loan).

Step 2: This will take place as soon as you submit your online application. Commonwealth Bank will at this time double-check your information to make sure that they are valid and correct. Wait for 60 seconds.

Step 3: After 60 seconds you will get a response, and if your loan gets approved, you will have to upload your documents (Proof of ID, address, payslip, etc.). They will then revise the documents and the loan amount will be paid into your account shortly.

If you are not an Australian citizen

  • Be 18 years and older.
  • Moving to Australia within the following 3 months.
  • Or moved to Australia within the past 3 months.
  • Be a tertiary student at an Australian institution or commencing an Australian apprenticeship.

When you’ve ticked all these boxes, go ahead and apply online now, the same rules and information required.

The benefits of choosing the loan company 

  • Accounts for students (savings).
  • Composed repayment terms.
  • Competitive interest rates.
  • Reliable, Dedicated, and Friendly employees.
  • Student benefit selections.
  • 100% online (download the banking app; CommBank App).
man holding thumbs up

Commonwealth Bank is a trusted & reliable provider of student loans

In our review, Commonwealth Bank adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, where the granting the loan will not cause financial distress to the consumer.

✅ Commonwealth Bank is a registered credit provider in Australia: ACL 234945

Customer Reviews & Testimonials

February 2019

Applying for the Commonwealth Bank loan was fast, effective and convenient.

Alex W
— Canberra —

March 2019

Once you make use of the credit services at Commonwealth Bank, you will understand why they are Australia’s most loved financial provider.

Amy H
— Perth —

May 2019

I thought I would have to wait for days before getting a response on my loan application. To my surprise, I only waited for a few hours.

Noah W
— Adelaide —

Commonwealth Bank Contact

Physical Address

Opening Hours

  • Monday 09:30 – 16:00
  • Tuesday 09:30 – 16:00
  • Wednesday 09:30 – 16:00
  • Thursday 09:30 – 16:00
  • Friday 09:30 – 17:00
  • Saturday – Closed
  • Sunday – Closed