Help & support
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.
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 any time in NetBank, CommBiz and the CommBank app.
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 an interest rate rise, a large redraw or you’re rolling off a fixed or introductory period, we’ll contact you to confirm your new amount and when it will take effect.
You’ll have a minimum of 30 days to start paying the new amount.1
If you have any questions about your repayment amount contact your Relationship Manager or call us any time on 13 19 98.
If there’s a rate increase, the new interest rate will apply from the rate’s effective date.
If you make Principal and Interest repayments, your repayment amount won’t increase straight away. We’ll give you at least 30 days’ notice.
If you make Interest Only repayments, we’ll update your direct debit automatically, so make sure you have enough money in your account to cover the new amount straight away.
If you’re on a fixed rate, your repayments will stay the same until the end of your fixed term.
If you pay manually, you’ll need to increase the repayment amount yourself.
If you’ve set up a direct debit for your repayments, you won’t need to do anything. We’ll automatically change your repayment amount.
If you make repayments yourself, make sure you update the repayment details with the new amount.
If you have a variable rate BetterBusiness Loan with us and you’re paying Principal and Interest, you can:
Call us any time on 13 19 98 or contact your Relationship Manager to discuss your options for deferring repayments.
You may be able to access additional funds if you need extra cash. Learn more about redraw.
If you make Principal and Interest repayments, we’ll send you an email or letter at least 30 days before your new repayment amount is due.
When interest rates rise, your available redraw balance will gradually reduce over the remaining life of your loan to ensure your loan is repaid within the loan term. If your redraw balance is not sufficient enough to support your current repayment amount, we'll let you know if we need to increase your repayments.
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1 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 taking into account your individual and/or business objectives, financial situation or needs, you should, before acting on this information, consider its appropriateness to your circumstances.
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.
