Help & support
InstalPay is available to existing CommBank customers who meet our eligibility criteria and who satisfy credit assessments. To apply, you’ll need access to NetBank or the CommBank app and you must have an eligible CommBank transaction account.
You must have a linked CommBank transaction account for repayments. Eligible CommBank transaction accounts include:
If you’re not an existing CommBank customer and you’d like to apply for InstalPay, simply visit your nearest branch to get set up. Applications for InstalPay are subject to credit approval.
CommBank is remunerated for InstalPay via a merchant service fee, a transaction fee that each merchant pays CommBank when a customer makes a purchase using InstalPay. Under our agreement with merchants, merchants are not able to pass this fee on to customers. This means CommBank can offer InstalPay to customers with no interest and no upfront or monthly account fees.
There are late fees if you don’t repay on time, and standard fees apply to your linked repayment account.
Your monthly repayment is simply the loan amount divided by the loan term. You pay no interest and no monthly or annual fees. For example: If you borrow $10,000 over a two-year loan term, your monthly repayment is $10,000 divided by 24 months = $416.67 (rounded up). It’s that simple.
Yes, you can make extra repayments or pay out your loan early without charge or penalty anytime via NetBank or the CommBank. Extra repayments aren’t available for redraw and will reduce your monthly repayment obligation for future payments.
You can always resume your application for InstalPay via NetBank under ‘My applications’. Otherwise, you can return to the merchant checkout, select InstalPay and start the application again.
If approved, we’ll pay the merchant directly the amount of your purchase and then debit your InstalPay loan account. You’ll then pay us what you owe in monthly instalments over the agreed term.
We’ll let you know on the spot. At this point you’ll be redirected back to the merchant checkout page, where you can select another payment option if you wish to proceed with your purchase.
If you have any questions or concerns regarding the goods and services you buy using InstalPay, you’ll need to contact the merchant directly. Using InstalPay to pay for your purchase won’t affect any rights you may have under applicable consumer protection laws. If you have concerns related to your InstalPay application or loan account, contact us.
* Loan term extensions are not available. A longer term means your repayments will be smaller. And there's no charge for making extra repayments or paying out early.
InstalPay has a maximum loan term of five years. If you’re looking for an option with a longer term, explore our Go Green with a Personal Loan guide. If you have a home loan with us, you may be eligible for a CommBank Green Loan attached to your existing home loan, which has a 10-year term.
InstalPay is only available online. You’ll receive your documents digitally, including Contract Schedule and InstalPay Terms and Conditions and all communications in relation to the product will be delivered via Email, NetBank or the CommBank app.
Applications are subject to the Bank’s lending criteria and credit approval. View the InstalPay Terms and Conditions. Full terms and conditions will be included in our loan offer. Fees and charges may apply.
The information on this website has been prepared without considering your objectives, financial situation or needs. You should, before acting on the advice, consider its appropriateness to your circumstances.
The target market for these products will be found within the product’s Target Market Determination, available here.