Help & support
Receive our lowest rate of 6.19% p.a. (7.61% p.a. comparison rate) to support your electric vehicle transition.
Get access to all your electric vehicle needs and special offers through CommBank’s Buy and own a car platform.
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.
EV Access Program (EVAP)
Get a special rate of 5.49% p.a. (comparison rate 6.92% p.a.) on a Secured Personal Loan which includes an energy-efficient discount if you’re;
Limited time offer
Reach your goals this summer and save $250 on the establishment fee with an Unsecured Personal Loan
Available for a limited time when you apply and fund an Unsecured Fixed Rate or Unsecured Variable Rate Personal Loan between 05 November 2024 and 25 February 2025~
Get on the road sooner with your next car
Browse cars, apply for finance and get the most from your car. And you can enjoy special offers for CommBank customers.
You could enjoy:
Secured Personal Loan
Rates
Fixed Rate Loan
Save $250 for a limited time
Save $250 with no establishment fee on Fixed Rate Personal Loans when you apply and fund between 05 November 2024 and 25 February 2025~~
Variable Rate Loan
Features
Rates
Save $250 for a limited time
Save $250 with no establishment fee on Variable Rate Personal Loans when you apply and fund between 05 November 2024 and 25 February 2025~~
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.
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.
Consider various EV models from different manufacturers to find one that suits your needs, budget and preference. The CommBank Buy and own a car platform can help with this.
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 “Energy-efficient purchases” as the loan purpose
The maximum you can borrow online for a secured loan is $120,000 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.
~~Offer available for a limited time. Apply and fund an Unsecured Fixed Rate or Unsecured Variable Rate Personal Loan between 5 November 2024 and 25 February 2025 to save $250 on the establishment fee (comparison rate calculations are inclusive of this offer).
#For the EV Access Program (EVAP) essential workers are individuals employed as teachers/instructors, medical/veterinarians, government officials and care workers.
##You must be buying an electric or hybrid vehicle emitting less than 120g of CO2 per kilometre with a total loan amount of less than or equal to $55,000.
We reserve the right to close or vary this offer at any time.
Information and interest rates are current as at 5 November 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:
Unsecured Fixed Rate Personal Loan interest rate ranges (with energy-efficient discount applied) are set out below. Comparison rates and examples are based on a $30,000 unsecured fixed rate loan over 5 years:
Unsecured Variable Rate Personal Loan interest rate ranges (with energy-efficient discount applied) are set out below. Comparison rates and examples are based on a $30,000 unsecured variable rate loan over 5 years:
~ If you need to borrow more than $120,000 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 and secured personal loan are not available to be redrawn. An early repayment adjustment is charged if loan is fully repaid with 12 or more months remaining on loan term, and we reasonably estimate we will incur a loss or administrative cost. 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 Interest rates at the lower end of our range, for example 7.00%/7.50% p.a. (comparison rate 8.05%/8.54% p.a.), may be offered to low risk customers with an excellent credit history.
An excellent credit history is determined by, among other things, paying your bills and making loan repayments on or ahead of time, being disciplined with your credit applications, and not overextending yourself financially.
Actions which can negatively impact your credit history include missing bill or loan repayments, defaulting on your credit facility, or making a large number of credit applications in a short period of time. You can find out more about how your credit score is calculated and tips for improving your credit score at our Credit Score Information Hub.
^ See report from the “Electric Vehicle Council: State of Electric Vehicles”, pages 63-67, published on July 2023
# $174 weekly repayment is calculated on an example of a $50,000 secured loan (with energy-efficient discount applied) over a 7 year term and our lowest rate of 6.19% p.a. (comparison rate 7.61% p.a.). This comparison rate is calculated based on a secured loan of $30,000, over a term of five years. 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.
To find out more details about the award CommBank has received from Canstar, please go to https://www.canstar.com.au.
Credit provided by Commonwealth Bank of Australia.
