Commonwealth Bank will reduce interest rates by 25 basis points per annum (p.a.) on eligible business lending products, following the Reserve Bank of Australia (RBA) decision to decrease the official cash rate by 0.25% p.a.
The rate reduction will apply to CBA Business Bank’s Variable Base Rate, Residential Equity Rate, and Overdraft Reference Rate, flowing through to business lending products including BetterBusiness Loans and Business Overdrafts. These rate changes will be effective 30 May 2025.
CBA Group Executive Business Banking, Mike Vacy-Lyle, said: “Australian businesses have been navigating unexpected challenges in recent months – from global trade tensions and volatile market swings to cyclones, droughts, bushfires and flooding. Businesses have also grappled with unexpected expenses and cashflow pressures from rising input prices and higher labour costs.
“While elevated uncertainty poses an ongoing risk to both global and domestic growth, Australia remains relatively well positioned to navigate these challenges, and as inflation moderates, the economy is showing signs of improvement.
“We’ll continue to focus on supporting our customers, allowing them to grow and invest in their operations. We also know that some businesses are finding it tough, and we have a range of measures available for businesses facing difficulty. Any customer needing support should contact our dedicated Business Financial Assistance team.”
Support for small businesses customers
A range of support options are available for business customers. These include:
- Reduced payments for a period of time
- Extension of a loan term
- Debt restructure
- Debt refinance
- Concessions for certain fees and charges
More information is available on our website and businesses seeking support can speak to their Relationship Manager or call CBA’s dedicated Business Financial Assistance team, available 24/7, on 13 26 07.
Go to CBA Newsroom for the latest news and announcements from Commonwealth Bank.
