Help & support
Receive our lowest rate of 6.49% p.a. (7.90% p.a. comparison rate) to support your electric vehicle transition.
A CommBank electric vehicle loan will cover all your needs, from the vehicle to the charging station and batteries.
Complete the online application in about 15 minutes, and get a response in as little as 60 seconds.
If you’re an existing customer, manage your finances under one roof to easily track your commitments.
Use our comparison tool to see the estimated running costs, emissions and vehicle prices of an EV compared to a petrol, diesel or hybrid vehicle.
Enjoy a discounted rate for eligible electric vehicle/hybrid purchases with our competitive personal loans.1 Get our lowest rate of 6.49% p.a. with a Secured Personal Loan.
Secured Personal Loan
Rates
Fixed Rate Loan
Variable Rate Loan
Features
Rates
You could benefit from an estimated annual saving of $1.3k to $1.7k from the lower operational costs of running an EV.4
Join the global transition in reaching zero emissions for all new vehicles. One in six customers financing a new car with CBA choose an EV.
Consider various EV models from different manufacturers to find one that suits your needs, budget and preference.
Arrange test drives at the dealerships for the electric vehicles you’re interested in to experience their performance, comfort and handling.
You might consider installing a charging station in your garage, or looking for public charging stations available in your area.
Apply for a CommBank personal loan to finance your purchase. Simply start an application and select “Green purchases” as the loan purpose
Interest rate discounts are available for eligible electric, plug-in electric and hybrid powered vehicles6 7
Features and benefits:
CommBank is a preferred finance provider for Tesla. Together we’re helping customers make the switch to an electric vehicle. Discover Tesla
The maximum you can borrow online for a secured loan is $100,000 or $50,000 for an unsecured loan. If you need more you’ll need to pay the difference, or for a secured loan you can call us on 13 1431 to discuss your needs.
Yes, approvals are valid for 60 days. If your delivery is longer than this, we can look to extend your approval on expiry.
Yes if you still have proof of purchase, but only on an unsecured loan.
Yes, providing it’s provided by the dealer, listed on the same invoice as the car and total loan amount is not more than 120% of the car’s value.
There may be a variety of incentives available based on the state in which you’re registering your vehicle. Federal incentives may also be available depending on how you buy and finance. We recommend you check for any state or federal government incentives including eligibility criteria before applying.
Yes, but you won’t qualify for the green discount.
Information and interest rates are current as at 1 May 2024 and are subject to change. This guide doesn’t consider your individual objectives, financial situation or needs. Before basing any decisions on this information, please consider:
~ If you need to borrow more than $100,000 for a secured loan, please call us on 13 1431 to discuss your needs.
+ Eligible vehicles must be fully electric, or hybrids emitting less than 120g C02 emissions per kilometre. If you're using the car as security it must be no more than seven years old, not currently under finance and have an active comprehensive insurance policy. The comprehensive insurance policy must be organised prior to loan funding.
1 Additional repayments made on a Fixed Rate Loan are not available to be redrawn. View the Personal Loan Terms and Conditions.
2 Your borrowing capacity depends on a range of factors such as your credit score.
Applications for finance are subject to the Bank’s normal credit approval. View the Personal Loan Terms and Conditions. Full terms and conditions will be included in our loan offer. Fees and charges are payable.
3 Comparison rates are calculated based on an unsecured loan of $30,000 and a secured loan of $30,000, over a term of five years. WARNING: Comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
4 See Commbank Sustainable Economics report published 3 July 2023.
5 The Australian National Electric Vehicle Strategy page 14
6 These products are only available to approved business customers and for business purposes only. Applications for finance are subject to the Bank's eligibility and suitability criteria and normal credit approval processes. Customers should view our current Terms and Conditions for Asset Finance (PDF) and consider them before making any decision about these products. Rates, fees and charges apply.
7 For Business, a discount may apply for qualifying efficient and green vehicles and equipment when you ask for it. The financed vehicle must not be more than eight years old at the end of the finance term. No discounts are automatically applied and must be requested prior to funding. 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.
8 See CommBank Media Release: CBA and Tesla Australia team up to support the transition to electric vehicles.
^ See report from the “Electric Vehicle Council: State of Electric Vehicles”, pages 63-67, published on July 2023
# $176 weekly repayment is calculated on an example of a $50,000 green secured loan over a 7 year term and our lowest rate of 6.49% p.a. (comparison rate 7.26% p.a.). This comparison rate is true only for the examples given and may note include all fees and charges. Different terms, fees or other loans amounts might result in a different comparison rate.
* See article by Evnex: The Best Electric Vehicle Charger for your home, published on December 12 2022.
Credit provided by Commonwealth Bank of Australia.
