Rate announcement & changes to products

  • Following increases to the official cash rate, we've reviewed the interest rates on our Business Banking products. Here are the latest changes, effective Friday 10 November 2023. 

    See the changes

Managing your business in a changing interest rate environment

Latest economic insights

RBA February 2024 Board meeting - cash rate on hold at 4.35%

This report discusses the RBA’s February announcement and the pause to the cash rate target.

Read the report

Gareth Aird and Belinda Allen discuss the latest economic insights

Understanding rate changes

  • Why are interest rates changing?

    When the Reserve Bank Board decides that a change in monetary policy should occur, it specifies a new target for the cash rate. A decision to ease policy is reflected in a new lower target for the cash rate, while a decision to tighten policy is reflected in a higher target. 

    View the latest statements by the Reserve Bank on monetary policy decisions.

  • Why is CommBank passing on the rate changes? 

    Raising interest rates makes borrowing money more expensive. When the RBA increases interest rates, it impacts the amount it costs banks to lend to customers. This increased cost is then factored into the interest rates charged on products.

Find the latest governmant grants or rebates you may be able to claim

Answer a few simple questions in NetBank or the CommBank app and we’ll help you find grants, rebates and concessions you may be eligible to claim to help with running your business during this time. 

Try Benefits Finder

Here to support you

We are here if you would like to discuss what other options may be available. ​

How to get in touch

  • ​Message Us in the CommBank app for a quick response – get instant answers from our virtual assistant, or connect to a specialist to discuss your options​. You can also visit our Business support page for other ways to get in touch.
  • If you're having trouble making loan repayments or think you may fall behind, getting support is important. Our Business Financial Assistance team is here to help.

Have a home loan with CommBank? 

We have a range of options to help you with managing your home loan and planning ahead.

Things you should know

  • This information is current as at Friday 10 November and is prepared without taking into account your individual and/or business needs and objectives. It must not be relied upon as financial product advice.

    Interest rates on offer may vary at any time without notice. Terms and Conditions, eligibility criteria, fees and charges will apply.

    The podcast links and video link will bring you to a third party website, owned and operated by an independent party over which CBA has no control ("3rd Party Website"). Any link you make to or from the 3rd Party Website will be at your own risk. Any use of the 3rd Party Website will be subject to and any information you provide will be governed by the terms of the 3rd Party Website, including those relating to confidentiality, data privacy and security. Unless otherwise expressly agreed in writing, CBA and its affiliates (collectively "CBA") are not in any way associated with the owner or operator of the 3rd Party Website or responsible or liable for the goods and services offered by them or for anything in connection with such 3rd Party Website. CBA does not endorse or approve and makes no warranties, representations or undertakings relating to the content of the 3rd Party Website. CBA disclaims liability for any loss, damage and any other consequence resulting directly or indirectly from or relating to your access to the 3rd Party Website or any information that you may provide or any transaction conducted on or via the 3rd Party Website or the failure of any information, goods or services posted or offered at the 3rd Party Website or any error, omission or misrepresentation on the 3rd Party Website or any computer virus arising from or system failure associated with the 3rd Party Website.

    Commonwealth Bank of Australia ABN 48 123 123 124. Australian credit licence 234945.