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Commercial lending update**

  • We have made an important enhancement to our Commercial Lending offer.

    30-year loan terms are now also available for non-residentially fully secured loans for customers with aggregated CommBank commercial exposure of $5m or less.**

    Maximum Interest only period of 5 years applies.

    Some industry exclusions apply**.

Car finance carded interest rates~

Fixed Terms

Finance Amount  
3 years
4 years
5 years
Green and Energy Efficient Equipment Finance#
≥$500,000 
$100,000 -  $499,999
7.89%*
7.99%*
8.09%*
  • 1.00% p.a. off carded rates for electric and hydrogen driven cars up to $250k.
  • 0.70% p.a. off carded rates for Hybrid & Plug in Hybrid## cars up to $250k.
$60,000 - $99,999
8.09%*
8.19%*
8.29%*
  • 1.00% p.a. off carded rates for electric and hydrogen driven cars up to $250k.
  • 0.70% p.a. off carded rates for Hybrid & Plug in Hybrid ## cars up to $250k.
$20,000 - $59,999
8.19%*
8.29%*
8.39%*
  • 1.00% p.a. off carded rates for electric and hydrogen driven cars up to $250k.
  • 0.70% p.a. off carded rates for Hybrid & Plug in Hybrid## cars up to $250k.

Equipment finance carded interest rates~+

Fixed term

Finance Amount
3 years
4 years
5 years
Green and Energy Efficient Equipment Finance #
≥$500,000
Contact your Business Development Executive±
$100,000 - $499,999
8.09%*
8.19%*
8.29%*
1.00% p.a. off all carded rates for electric and hydrogen driven trucks & buses up to $250k.
  • 0.50% p.a. off carded rates for;
    • other electric and hydrogen driven Yellow goods, Agri, earth and goods moving equipment up to $250k
    • solar, wind and hydro powered equipment up to $250k###
0.25% p.a. off carded rates for other qualifying efficient assets### up to $250k
$60,000 - $99,999
8.29%*
8.39%*
8.49%*
1.00% p.a. off carded rates for electric and hydrogen driven trucks & buses up to $250k.
  • 0.50% p.a. off carded rates for;
  • other electric and hydrogen driven Yellow goods, Agri, earth and goods moving equipment up to $250k
  • solar, wind and hydro powered equipment up to $250k###
0.25% p.a. off carded rates for other qualifying efficient assets### up to $250k
$20,000 - $59,999
8.39%*
8.49%*
8.59%*
1.00% p.a. off carded rates for electric and hydrogen driven trucks & buses up to $250k.
  • 0.50% p.a. off carded rates for;
  • other electric and hydrogen driven Yellow goods, Agri, earth and goods moving equipment up to $250k
  • solar, wind and hydro powered equipment up to $250k###
0.25% p.a. off carded rates for other qualifying efficient assets### up to $250k

Changes to our Asset Finance Terms and Conditions 

  • We have made some changes to our Asset Finance Terms and Conditions to reflect forthcoming changes to the 'Unfair Contract Terms Legislation'. 

    From 9 November 2023, customers with an existing Master Agreement will be requested to sign a one-off Master Agreement - Variation to Terms and Conditions letter, acknowledging they consent to the changes to the Asset Finance Terms and Conditions, prior to funding their next drawdown. 

    Action required from 9 November 2023:

    • Where brokers prepare drawdown documents you will need to provide the one-off Master Agreement - Variation to Terms and Conditions letter to the customer, along with the document pack produced from AlphaTM, for execution, at the time of their next drawdown.
    • Where CBA prepares drawdown documents we will send the one-off Master Agreement - Variation to Terms and Conditions letter with the documentation pack to be executed by the customer, at the time of their next drawdown.
    • The one-off Master Agreement - Variation to Terms and Conditions letter is available from the Broker Resources, Asset Finance, Terms and Conditions section of this website.

    It will be mandatory to provide an executed Master Agreement - Variation to Terms and Conditions letter for the first drawdown on or after 9 November 2023 under an existing Master Agreement.

Application process

Application type turn-around times (TAT)
(TATs are provided as a guide only and subject to change without notice. Priority will be placed on clean transactions where all information is provided and accurate).

Application type
ABCD applications
Drawdowns
Replacements
ABCD BAS statements
Full applications
Fulfilments/Settlements
TAT
2-3 business days
2 business days
2 business days
3 business days
5 business days
2-3 business days

To help us deliver the best broker service experience for full applications, please complete the 

Asset Finance Full Application Broker Checklist (PDF) and include this with your applications.

Asset Finance Full Application policy update

  • Our full application pathway has been modified.

    Effective^ from 1 July 2022 the minimum full application amount for new to bank^ customers will increase from the current $100k to $250K.

    Note: There is no change to our application amount for our existing ABCD pathways.

    To help us deliver the best broker service experience for full applications, please complete the 
    Asset Finance Full Application Broker Checklist (PDF) and include this with your applications.

    The credit assessment process cannot commence until we receive the application along with the completed Asset Finance Full Application Broker Checklist (PDF) and all required information.

Financial Statements Requirements

  • CommBank cannot accept financial statements older than 18 months for applications of finance.

    From 1 January 2024, financial statements from FY 2022 will not be accepted. We will therefore require FY 2023 financial statements from this date.

    Temporary arrangements for ABCD Asset Finance applications.

    As the deadline for businesses to lodge completed FY 2023 financials is 31 March 2024, if a business does not hold completed FY 2023 financials, between 1 January and 31 March 2024, we will temporarily accept the following for ABCD Asset Finance applications only:

    • FY 2022 financial (which must be provided), with at least one of the following:
      • Draft accountant prepared FY 2023 financials
      • Management accounts
      • MYOB

    All full applications lodged from 1 January 2024 will require FY 2023 financial statements.

Asset Finance ABCD policy update

  • Effective from 28 August 2023, the following key changes have been made to the Asset Finance ABCD policy to speed up and simplify the process and allow more transactions to be assessed via the ABCD pathways:

    • Asset Finance BAS pathway exposure limit has been increased from maximum aggregate commercial lending exposure of less than $1m to less than $1.5m
    • New Commercial Customer with existing home loan pathway has been extended to now also include new and used trucks and trailers, agricultural, earthmoving and construction, and materials handling assets. 
    • Existing Commercial Customer pathway now allows trucks and trailers, agricultural, earthmoving and construction, and materials handling assets to be financed outside of ATO effective life where additional valuation and inspection requirements have been met.
    • Replacement pathway. Agreements originally written in a sole trader name can now be replaced with an agreement in a company name subject to the original sole trader providing a guarantee and there has been no change to the nature of the business or source of income.
    • Buses can now be financed up to ATO effective life.

    Other policy changes effective from 28 August 2023

    ABCD BAS Industry exclusion list has been updated and now includes Agriculture, Franchising, Hospitals, Childcare Services, Nursing Homes, Accommodation for the Aged, Residential and Non-Residential Care Services, Property Developers, Pharmaceutical and Toiletry Wholesaling, Food Wholesaling, Food Retailors, Religious Organisations and Not for Profit Organisations. Please refer to your Business Development Executive for specific exclusions.

    For additional information, please contact your Business Development Executive.

    Alpha has also been updated to reflect these changes.

Broker support

Things you should know

  • The information on this page is for general information purposes only and has been prepared without considering individual and/or business objectives, financial situation or needs. They should, before acting on the information, consider its appropriateness to their circumstances.

    Products mentioned on this page are only available to approved business customers and for business purposes only. Applications for finance are subject to the Bank’s normal credit approval and customer eligibility. Fees, charges and conditions apply. Full terms and conditions will be provided with any agreement upon credit approval. View our Financial Services Guide (PDF). Read our Privacy Policy.

    Commercial lending update

    ** Subject to the Bank’s eligibility and suitability criteria. Some industry exclusions apply including Construction, Property Development, Aged care and Discretionary-Retail.

    ** This information is prepared for distribution to CommBank accredited brokers only and is current at 22 April 2024. It contains general information only and does not take into account the objectives, financial situation or needs of any person.

    View our current Terms and Conditions for Business Finance and consider them before making any decision about these products. 

    Car and equipment finance carded interest rates and Asset Finance policy updates

    * Fixed rates are current as at 03/06/2024 until withdrawn. Available on new borrowings only. Please check with your CommBank Business Development Executive on pricing for these customers.

    Asset Finance quotes are valid for a maximum of fourteen (14) days provided funding takes place. Rates are indicative and subject to variation without notice and are conditional on the assessment of CommBank and acceptance of a deal. Rates shown are a guide only and will vary according to deal terms and structure. Rates apply for terms of 36-60 months as shown above. Excludes full applications. Contact your CommBank Business Development Executive for full application rates.

    #  A discount may apply for qualifying energy efficient and green vehicles and equipment when you ask for it. No discounts are automatically applied and must be requested prior to funding. Any discounts apply to the standard carded rate and cannot be combined with any other pricing reductions. Discounts of up to 1% p.a. and 0.5% p.a. are limited to transactions less than $250,000. Discounts are available for qualifying assets over $250,000 by negotiation. Discounts offered are subject to change without prior notification. We reserve the right to modify or revoke any discount offered at any time, for any reason.

    ## Includes hybrid and plugin hybrid cars.

    ### Contact your Business Development Executive to qualify if a discount applies.

    ~ Applicable for: motor vehicles (cars and light commercials with a carrying capacity of up to 1 tonne or fewer than 9 people) not older than 8 years at the end of the finance term.

    ~+ Applicable for: (a) equipment such as trucks and trailers, agricultural, earthmoving and excavation and materials handling (e.g. forklift, scissor lift, telehandler, boom lift, hoist) where the asset age must not exceed the ATO effective life at the end of the finance term – for Existing Commercial CommBank customers, these classes of equipment may be financed outside of the ATO effective life where valuation and/or inspection requirements are met; (b) all other standard assets, the age must not exceed 5 years at the start of the finance term and remain within ATO effective life guidelines at the end of the finance term.

    ± Rates outside of these terms must be negotiated. For brokerage over 3% please contact your CommBank Business Development Executive.

    ^ A new to bank customer does not have any existing commercial exposures with CommBank. CommBank Commercial exposures are Commercial Lending facilities including Asset Finance (excludes contingent liabilities, bank guarantees, Simple Business Overdrafts and Personal Liability Business Credit Cards). Please refer to your Business Development Executive for clarification.

    1 Professional Services customers are defined as:

    Taxation considerations are general and based on present taxation laws and may be subject to change. Individuals should seek independent, professional tax advice before making any decision based on this information.

    Asset Finance quotes are valid for a maximum of fourteen (14) days provided funding takes place. Rates are indicative and subject to variation without notice and are conditional on the assessment of CommBank and acceptance of a deal. Rates shown are a guide only and will vary according to deal terms and structure. Rates apply for terms of 36-60 months as shown above. Excludes full applications. Contact your CommBank Business Development Executive for full application rates.

    These products are only available to approved business customers and for business purposes only. 

    ^^ Credit provided by the Commonwealth Bank of Australia. Applications for finance are subject to the Bank's eligibility and suitability criteria and normal credit approval processes. You should view our current Terms and Conditions for Asset Finance and consider them before making any decision about these products. Rates are subject to change. Fees, charges and Terms and Conditions apply.

    This information is prepared for CommBank accredited brokers only. It contains general information only and does not take into account the objectives, financial situation or needs of any person. Individuals should obtain independent financial, legal, tax and other relevant advice prior to making any investment decision. View our Privacy Policy here.

    Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945.