Unsecured, secured and green secured personal loans all saw fixed rates lowered, with the range of interest rates lowered by 0.50% p.a.

As is usually the case with personal loan lending, there isn't a one size fits all rate, rather a range that depends on the credit worthiness of the borrower.

Unsecured fixed personal loans with CBA now have rates starting at 8.00% p.a (down from 8.50% p.a), up to 20% p.a. (down from 20.50% p.a), with the comparison rate range 9.40% p.a to 21.30% p.a*.

For those paying off a variable rate personal loan with CommBank, unfortunately there were no equivalent cuts.

It's the first time in several months Australia's largest bank has touched its range of personal loans, but the cuts follow term deposit and home loan rates also coming down more recently.

For unsecured personal loans, CommBank is now pretty much in line with Westpac (rates from 7.99% p.a to 20.49% p.a, comparison rate range 9.18% p.a to 21.61% p.a*).

ANZ still offers the most competitive unsecured fixed personal loan rates (7.49% p.a to 19.99% p.a, 8.18% p.a to 20.58% p.a comparison rate*) of the big four, while NAB is now about 50 bps behind (8.49% p.a to 20.49% p.a, 9.54% p.a to 21.49% p.a comparison rate*).

Secured personal loans with CommBank, that you might use to buy a car or another major asset, now have rates starting at 6.49% p.a, all the way up to 10.49% p.a (7.90% p.a to 11.86% p.a comparison rate*).

For eligible energy efficient cars like electric vehicles (EVs), CommBank have a single rate of 5.99% p.a (7.41% p.a comparison rate*), which is the same as Westpac, although the comparison rate is slightly lower there (7.20% p.a*).

CommBank personal loan rate changes

Product Term length Loan size Interest rate range Comparison rate range
Fixed Rate Personal Loan Unsecured One - Seven Years $4,000-$50,000 8.00% p.a - 20.00% p.a (Down 0.50%) 9.40% p.a - 21.30% p.a*
Fixed Rate Personal Loan Secured One - Seven Years $4,000-$120,000 6.49% p.a - 10.49% p.a (Down 0.50%) 7.90% p.a - 11.86% p.a*
Fixed Rate Personal Unsecured - Green Option One - Seven Years $4,000-$50,000 7.00% p.a - 8.00% p.a (Down 0.50%) 8.41% p.a - 9.40% p.a*
Fixed Rate Personal Loan Secured - Green Option One - Seven Years $4,000-$120,000 5.99% p.a (Down 0.50%) 7.41% p.a*

For secured loans, the Green Option means that the loan needs to be used to buy an eligible energy efficient vehicle.

To get the Green Option on unsecured loans, you'll need to demonstrate that the money is going towards an energy efficient purchase like solar panels.

The significant difference between the advertised rate and the comparison rate comes from the fees - all these products have a $250 loan establishment fee, a monthly $15 'servicing fee', while other charges for things like early discharge or late repayment can still apply.

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Here are some of the top personal loan products available in Australia at the moment

Rates
Features
Fees
Other
Lender
FixedUnsecuredN/AN/AMore details

Unsecured Personal Loan (Excellent Credit) (5 Years)

    More details
    FixedUnsecuredN/AN/AMore details
    • No ongoing or early exit fees
    • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
    • Get a quick decision. Funds in 24 hours if approved
    • Loan amounts of up to $75,000, and up to $100,000 for home improvement projects and motor vehicles
    Disclosure

    Low Rate Personal Loan Unsecured (Exceptional Credit) ($5k-$100k) (5 Years)

    • No ongoing or early exit fees
    • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
    • Get a quick decision. Funds in 24 hours if approved
    • Loan amounts of up to $75,000, and up to $100,000 for home improvement projects and motor vehicles
    More details
    Disclosure
    Important Information and Comparison Rate Warning

    All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

    The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates are for unsecured personal loans only for the relevant amounts and terms. The comparison rates for car loans and secured personal loans are for secured loans unless indicated otherwise. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

    Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of June 15, 2025. View disclaimer.

    Important Information and Comparison Rate Warning

    Picture from Commonwealth Bank media