Skip to main content Skip to log on Skip to search Accessibility at CommBank

Business / Brokers' Secure / Rates and updates

Asset finance inspection policy update

  • Effective 28th April 2025, CommBank will be enabling brokers to use Red Book Inspect (RBI) via their Remote Video Inspection service to complete virtual inspections, for eligible assets. 

    A virtual inspection can be requested via RBI, limited to the following assets: 

    • Motor Vehicles (as defined in the AF valuation and inspection policy)
    • Trucks and Trailers
    • Earthmoving and Construction Equipment
    • Agricultural Equipment
    • Material handling Equipment 
    • Buses

    This inspection process through RBI is intended to provide consistently high quality and standard inspection reports contributing to improved service experience.

  • The physical inspection requirements remain unchanged. 

    All virtual inspections must be done via the Red Book RBI service.

    For additional information, please contact your Business Development Executive.

Business lending - Banking Code of Practice update*

  • We have made some changes to our processes and Current Terms and Conditions for Business Finance to comply with upcoming changes to the Banking Code of Practice (The Code) for our Business Lending products.

    The below changes are effective from 5 December 2024.

    The Code impacts small business customers, and the Bank will, for the purpose of applying the Code for business lending products, define Small Business as all customers with aggregate CommBank commercial credit facilities of <$5m (previously $3m).

  • What do these changes mean?

    1. Our Terms and Conditions for Business Finance will be updated on 5 December 2024 to reflect the changes and will be available on our Broker Secure website.
    2. Interview requirements for some guarantors and co-borrowers, including interviews by Bank representatives may now apply to small business customers ie aggregate CommBank commercial credit facilities of <$5m.
    3. Where a guarantor or co-borrower interview is required, it will continue to be completed by a CommBank staff member. Interviews will be conducted face to face wherever practical, and where it is not by phone or via video. Borrower/s and/or brokers cannot be present during these interviews.
    4. All other existing requirements of The Code remain the same.

  • What you need to know

    • You need to read and familiarise yourself with the updated Terms and Conditions for Business Finance.
    • New Terms and Conditions for Business Finance will be available on the Broker Secure website from 5 December 2024.

  • What you need to do

    • For applications we receive from the 5 December 2024, provide all borrowers and guarantors with the updated Terms and Conditions for Business Finance. 
    • Inform borrowers and guarantors to ensure they read and understand the Terms and Conditions for Business Finance.
    • Continue to exercise prudent care when assessing the suitability of all co-borrowers and satisfy yourself that they fully understand the implications and/or risks of becoming a co-borrower and there does not appear to be any signs of financial abuse.

  • In flight applications

    Changes only apply to applications received by the Bank from 5 December 2024.

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**.

Asset finance broker e‑signature

In December 2025, our e‑sign capability successfully transitioned from pilot to full operational status. Since then, we’ve seen strong adoption and an enhanced experience for our mutual customers by improving turnaround times, reducing manual touchpoints and making interactions simpler and more efficient.

Reminder:

  • DocuSign account
    You will need your own DocuSign account with SMS Multi Factor authentication activated to issue all qualifying documents for execution (Docusign business pro package incorporates MFA to assist with this requirement).
  • New Broker Checklists
    The checklists generated with the broker packs are now redundant. The updated checklists are available on the Brokers' Secure  website (refer Broker resources – Forms & Checklists) for your immediate use.
  • Support and FAQs
    To assist with any questions, we have developed an FAQ document that is now published on the Brokers' Secure website (refer Broker resources – Forms & Checklists).  
  • Should you require additional support, please continue to contact your BDE.

 

Mandatory requirements

  • When issuing documents to a customer/customers SMS Multi Factor Authentication must be used for each signing party
  • The phone number and email address must match Bank records. This means the Broker/Admin must update unique phone numbers and/or unique email addresses for each signing party when lodging applications via ALPHA™ Portal.
  • If an accredited Admin person is issuing the documents, the Broker of record must be cc’d at the inception of creating the envelope
  • If the accredited Broker is issuing their own documents, there is no need for them to cc themselves
  • [email protected] must be cc’d into every envelope at the creation stage. Afbroker cannot be added after the documents are issued. This will AFI the settlement, the envelope will need to be voided, a new one created and re-issued to the customer for execution
  • The balance of the settlement pack (new checklist, brokerage invoice, rate confirmation etc.) is to be emailed to [email protected]
  • The subject line of e-sign documents and balance of the settlement pack should both reference the AAU so the packs can be merged by our fulfilment team.

Tips and Hints:

  • [email protected] must be cc’d at creation of the envelope. Failure to do so, will require the envelope to be re-issued for execution.
  • The phone number for SMS Multi Factor authentication and email address used to issue documents must match the Banks information. Please ensure you appropriately update any new information at the time of submitting the application for decision.
  • The phone number for SMS Multi Factor authentication and email used must be visible on the Certificate of Completion.
  • The Broker of record must be cc’d at creation of the envelope where issued by an accredited administration assistant (not required for Individual Broker operations).

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.

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.

Financial statements requirements

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

    From 1 January each year, financial statements 18 months or older will not be accepted. We will therefore require the most recent financial year end financial statements from this date

    For example, from 1 January 2026 we will require financial statements for the financial year ending no earlier than 30 June 2025

    Temporary arrangements for ABCD Asset Finance applications.

    Transitional arrangements for transactions entered into for the period 1 January – 31 March annually. 

    In the absence of completed current year financials, the following may be accepted:

    • Draft accountant prepared financials for the current financial year
    • Management accounts for the past 12 months
    • MYOB accounts for the past 12 months

    As these documents may not be finalised, the previous years completed financials must also be obtained.

    All full applications lodged from 1 January 2025 will require FY 2024 financial statements.

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 – Banking Code of Practice update

    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.