Interest changes and your business

Learn how recent interest rate changes by the Reserve Bank affect our products and find tips to help prepare and support your business during this time. 

Find out more

Understanding Repayments

  • How we calculate your repayments

    Your BetterBusiness loan repayment amount is based on how much is owing on the loan, the interest rate and the loan term. We regularly recalculate your loan repayment amount to make sure you’re able to repay the loan in the remaining loan term.

    You can view your repayment amount, repayment type and frequency anytime in NetBank and the CommBank App. 

    View in NetBank

  • Why repayments change

    Over the course of your loan term, your repayments might need to be adjusted.

    From time to time, we may need to make changes to your repayments to make sure you’re able to repay the loan within the remaining loan term.

    If we need to increase your repayment amount because of something like an interest rate rise, or we have to recalculate your payments due to a large redraw or because you’re rolling off a fixed or introductory period, we’ll contact you to confirm:

    • Your new required repayment amount
    • When this will take effect
    • Any other action that you need to take

    You’ll have a minimum of 30 days between receiving this notification and having to make the updated repayment*.

    If you have any questions about your new repayment amount or you would like to review your loan in light of these changes, you should contact your Relationship Manager if you have one, or call our Business Banking Team on 13 19 98, 24/7. You can also visit your nearest CommBank branch.

  • Repayment changes when interest rates rise

    In the event of a rate increase, the new interest rate will apply from the rate effective date.

    If you make Principal and Interest repayments, your minimum required repayment amount won’t increase straight away. If your repayment needs to increase, we’ll always give you at least 30 days’ notice of any increases to your loan repayments.

    If you make Interest Only payments, the interest payable will increase from the rate effective date. We’ll update your direct debit for you, so you’ll need to ensure you have enough money in your direct debit account to cover the increased amount.

    If you are on a fixed rate, there will be no change to your repayments until your fixed term concludes.

Manage your Repayments 

  • Direct debit repayments

    If we manage your direct debit you won’t need to do anything. We will automatically adjust your repayment amount if a change is required.

    If you make repayments yourself, you’ll need to ensure you update the repayment details in line with any notice we provide you.

  • Increase or decrease your repayments

    If you have a variable rate BetterBusiness loan with us and you’re paying Principal and Interest, you can:

    • increase your repayments to pay your BetterBusiness loan off faster and reduce the interest you’ll pay over time
    • reduce your repayments to free up some cash, provided we’ve reduced the interest rate or you’ve gotten ahead on your loan by making extra repayments and now have redraw available. Remember, lowering your repayments will reduce your available redraw balance and will increase the amount of interest paid over the life of your loan.

    We’ll need to check that your new repayment amount allows you to repay the loan in the remaining loan term.

    To learn more or to change your repayments, you can call our Business Banking Team on 13 19 98, 24/7 or contact your Relationship Manager.

Redrawing extra repayments

  • Accessing your additional repayments could be an option when you need additional funds.

    Learn about redraw

Things you should know

  • *Should any circumstances on your account change between when we notify you of a repayment change and when that change is due to take effect, we may choose not to apply the repayment change. If in the future we identify that a change is required, we will write to you again to advise of the details.  

    As this information has been prepared without having regard for your individual and/or business objectives, financial situation or needs, you should, before acting on this information, consider its appropriateness to your circumstances. This information is prepared without taking into account your individual and/or business needs and objectives.

    Credit provided by the Commonwealth Bank of Australia. These products are only available to approved business customers and for business purposes only. Applications for finance are subject to the Bank's eligibility and suitability criteria and normal credit approval processes. View our current terms and conditions for Business Finance, and consider them before making any decision about these products. Rates are subject to change. Fees, charges and Terms & Conditions apply. For current interest rates, visit Business banking rates and fees.