Paying off personal loan early in Commbank without a fee

You can pay off your Commonwealth Bank (CommBank) personal loan early, but the rules differ by loan type. Below is the verified, up-to-date guidance based on CommBank’s official information, with clear steps and caveats so you can plan an early payout confidently.

Variable-rate Personal Loan: Early payoff

You can pay off your variable-rate personal loan at any time without additional fees. Making extra or lump-sum repayments can help you save interest and finish the loan sooner.

Fixed-rate Personal Loan: Extra repayments and early payout

Fixed-rate loans can accept additional repayments. However, if the amount of early repayment is a full payout with 12 or more months remaining on the loan term, CommBank may charge an Early Repayment Adjustment (an administrative/cost recovery charge linked to breaking a fixed term). This Adjustment applies to full early repayment under those conditions; CommBank does not state a specific annual dollar cap for partial extra repayments on fixed-rate personal loans.

How to repay early

• Use the CommBank app or NetBank to make extra repayments or a lump sum.
• For a full early payout, request a payout figure to ensure all interest and any applicable charges are included.
• Keep your regular repayment active until the payout is processed to avoid missed-payment fees.

Need help

You can get more detailed information at the phone number 13-22-21. A specialist can confirm your payout figure and whether any Early Repayment Adjustment applies to your fixed-rate personal loan.