Rating based on 38 reviews

Commonwealth Bank

Updated

  • Debt consolidation loans up to $50,000
  • Low-interest starting from 12.99%
  • Repayment up to 5 years

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Commonwealth Bank homepage

Author Commonwealth Bank. Screenshot of Commonwealth Bank website. [Accessed April 12, 2018]

Commonwealth Bank - Trusted by Australians

The Commonwealth Bank was founded through the Commonwealth Bank Act over a century ago. We started our operations in 1912, with the sole purpose of offering both savings options as well as general banking and personal loans

Since our inception, we’ve managed to grow our shareholders up to 800 000 and over 50 000 people working for the group. We, now more than ever, can offer our clients a host of financial services to assist Australians in the management of their finances and building their financial portfolio.

Commonwealth Bank values

Within any institution, defining a core set of values and beliefs gives the business meaning. We’ve defined five values which are applicable to all employees and their managers. These values consist of:

#1 Integrity

Within, integrity, we encourage our employees to speak openly and to express their ideas and concerns. Trustworthiness plays a large part as you want to ensure there isn't any dishonesty within the company. As management in any of the branches, action should be taken when issues are raised.

#2 Accountability

We ensure everyone is aware of what is expected of them. Clear expectations are set, and management has the ability to guide their teams.

#3 Collaboration

We ensure there is a sense of collaboration amongst employees and everyone is working towards the same goals. By doing this, we’ve got the flexibility to make the right decisions in a timely manner.

#4 Excellence

Management within each branch leads the business as if it’s their own business. We aim to drive our employees so they’re able to reach their full potential.

#5 Service

All employees have been trained up to be able to provide clarity on balancing different stakeholders and their varying interests including debt consolidation loans and financial hardship. By setting high service standards, we’re able to train our teams to best practice.

Affordable payment plans

Staying on top of your finances has never been easier thanks to us. We’ve put together a division of efficient people who’re able to assist you with any financial support you may need.

We’ve developed a budget planner and monthly savings account to assist you in getting your finances in order. If you feel the need to get a consolidation loan, our team reviews all requests within seven days of receiving them.

How we can assist you

Once we’ve gone through the requests, you’ll receive a written response outlining the conditions of our assistance and what we’re able to do based on the information provided. In order for us to assist you to get on top of managing your finances, one of our professionals will work with you to gain a deeper understanding of your financial situation.

Once this has been completed, we can assist you in putting together a desirable repayment plan to ensure all your payments are met in a timely manner.

What we can assist you with

Everyone has different financial obligations, making it more important for us to treat each case individually. We are, however, able to assist with a wide variety of financial areas, including:

  • A structured plan to reduce your payments for a predetermined time frame
  • Getting your short-term loans extended
  • Consolidating your debt to allow restructuring
  • Assistance with the refinancing of debt
  • Reduction or exemption from certain fees or charges

Other services

There are a few other aspects of financial assistance we can provide input on. Sometimes, facing financial troubles is something unexpected and not planned. These events can vary from:

  • Not being able to work due to prolonged illness
  • The loss of a loved one
  • Divorce or separation
  • Violence in the family
  • Natural disaster within your area where you live
  • Your business facing unplanned downtime

Commonwealth Bank Consolidation loan

  • Loan Type Debt consolidation loans
  • Interest Rate from 12.99%
  • Loan Amount up to $50,000
  • Repayment 1 year to 5 years

Benefits of Commonwealth Bank

  • Flexible loan terms
  • Protection against creditors
  • Affordable monthly repayment
  • Fast online loan approvals
  • Competitive interest rates

Commonwealth Bank - We reduce the stress overwhelming debt can have

Based on these different scenarios, we’ve put together a number of self-help tools and financial tips and articles to assist you in getting back on track quicker than if you were to do it by yourself.

Sometimes, getting a qualified professional to assist you can reduce the amount of stress you might be experiencing because of the financial hardship.

Some of the financial tips on offer to our clients include:

  • Creating a budget
  • How to control your spending and expenses
  • Tips on how to pay your debt off faster
  • A divorce or separation checklist
  • Guidance on finances if you’ve lost your job

Reach out to our team today to get the guidance you need to get yourself back on top of your finances. If we’re not able to assist you, we’re able to provide guidance as to which channels you should be going through.

Thinking of retiring?

Getting your finances under control is something every citizen should be thinking about even if they are not at the point that they need debt counselling. If you’re thinking about your retirement, then these are some of the factors we recommend you think about:

  • An allocated pension fund
  • Investments through guaranteed annuities
  • Investments in growth bonds

Thinking about your retirement is so important. With the ever-increasing cost of living, it's important to start saving and getting your finances in order for when the time should come for you to stop working. Our financial planners have the expert training to assist you in putting together a financial plan which will not only meet your short-term goals but also your long-term goals.

As we want to be able to assist all our clients with their finances, there are no requirements for getting access to our financial planners. After all, being in debt and consolidating your debt isn’t something to be ashamed of. The sooner you start your planning, the closer you’ll be to achieving your financial obligations.

man holding thumbs up

Commonwealth Bank is a trusted & reliable provider of debt consolidation loans

In our review, Commonwealth Bank adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, as well as the National Consumer Credit Protection Regulations 2010, 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

March 2019

It was great having support throughout the entire process, from applying to being approved, I could always count on the friendly, approachable staff that was available to assist me.

Grace N
— Brisbane —

April 2019

I can’t believe how much I’ve been saving since I got my debt consolidation loan. You can definitely count on Commonwealth Bank if you need help with your debt.

Anna M
— 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