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 5th August. 

    See the changes

Latest economic insights

Gareth Aird, head of Australian Economics discusses August’s rate rise.

Gareth unpacks what the cash rate increase means for Australians and business owners.

Watch the video

RBA August 2022 Board meeting – cash rate lifts to 1.85 per cent

This report discusses the RBA’s August announcement and tightening financial conditions over 2023.

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 full statement by RBA Governor Philip Lowe for the latest update on rate changes. 

  • 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

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 5 August 2022 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.

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