How we’re supporting individuals

Below you’ll find a summary of support that may be available to you.

Have you been stood down by your employer or had your income significantly reduced?

Here’s what you can do. 

You can seek clarity

Being stood down is a temporary measure that means you remain employed but unpaid for the period of time that you do not perform your duties, but are not paid your usual wage. You will continue to accrue annual leave.

You can learn more on the Fair Work Commission website.

You can continue to seek employment

Many businesses have increased demands at this time. If you have been stood down or had your hours reduced and you find other work you can take that job. As long as you are not employed as a full-time permanent employee this will not require you to resign from your original job. 

You can talk to us about your loan and credit card repayments

If you’re concerned about making repayments on your credit card, personal loan or home loan, we have options to help you manage. Call us on 13 30 95 to speak to our Financial Assistance Solutions team to find out more about the options that suit your individual situation. They’re open 8am-9pm Monday to Friday and 9am – 2pm on Saturday (Sydney/Melbourne time). 

You may be eligible for support payments

If your working hours or your ability to work are impacted by COVID-19 restrictions, then you may be eligible for a payment from your state or territory government. Find out more detail and help to work out your eligibility

You could seek rent and utility relief

You may be eligible for rental assistance from the Government. Talk to your landlord about what else may be possible for further rental relief. Also worth continuing to speak with your landlord and try to work on options to help you both during this time. You may also be eligible for an energy subsidy. Many utility providers have also launched relief measures. Speak to your specific provider about temporary relief.

You can access additional benefits

Through Benefits finder in the CommBank app, you may be able to find government or other benefits that you may be eligible for. We also have some special term deposit rates, providing several options to earn a return well above the cash rate. CommBank is also taking steps to help free up household cash flow for our personal customers. 

You can seek additional support for your overall wellbeing

This period of uncertainty may cause stress for many individuals, families, community groups and businesses. It is critically important that you look after your mental wellbeing, as well as your overall financial wellbeing. If you are suffering from heightened stress or any other mental health condition, consult your regular doctor about the appropriate course of care, as you may be eligible for Medicare rebates on psychological services, with additional telehealth services being put in place to ensure they are available for all people requiring them.

You can seek help as a vulnerable community member if you are at risk of domestic violence

If you or your family are impacted by family or domestic violence, support is available to you. 1800RESPECT (1800 737 732) is a free national counselling and referral service. All of these calls are confidential and can help provide guidance during a difficult time. If you're unable to call you can also visit www.1800respect.org.au for more information. If you’re a CommBank customer experiencing a domestic or family violence situation, you can speak to our specialist Community Wellbeing team about your financial needs. For more information visit commbank.com.au/dv-assistance.

See more information about ‘Next Chapter’: independence for survivors of domestic and financial abuse (PDF).

Support in case of domestic violence

1800RESPECT (1800 737 732) is a free national counselling and referral service for anyone affected by domestic violence.  All of these calls are confidential and can help provide guidance during a difficult time.

Are you a retiree who has seen their income or superannuation fall?


Maintaining a source of income is more important than ever in retirement. If coronavirus has affected yours, here's what you can do.

You can reduce your drawdown rate

To provide retirees with more flexibility in managing their retirement incomes, the Government has reduced the minimum drawdown rates for account based pensions and similar products by 50% from 1 July 2020. You should consider whether this is right for you given your circumstances. To get an idea of how long your account-based pension will last, please visit the Moneysmart website.

You can take measures to remain safe and secure during this time

We understand that some of our customers prefer to come into the branch to do their banking. We are committed to ensuring that our customers and staff are kept healthy and safe. Some of our branches may need to close from time to time and we will keep you updated via our branch locator tool. Social distancing will be observed in branch and added measures have been put in place to ensure the branch is kept clean and safe for all. If you have questions about using your Passbook during this time visit commbank.com.au/passbook.

Alternatively, you can also access accounts 24 hours a day through NetBank or the CommBank App, and general banking enquiries through our locally-based contact centres on 13 22 21, every day between 6am and 10pm.

You can increase your online safety and awareness of scams

We want you to remain safe and secure online. Unfortunately, there are some online scammers that will be seeking to take advantage of the current situation and access your personal information. Please do not share your personal bank details with anyone that contacts you directly. 

Learn more about how to protect yourself online

We also have a guide to help older people avoid scams, fraud and abuse that can be found here.

You can access support through the National COVID Older Persons Information Line

Council on the Ageing, National Seniors Australia, Older Persons Advocacy Network, and Dementia Australia have banded together, supported by the Commonwealth Government to launch a new support service. You can call 1800 171 866 to get the critical information you need to stay healthy and safe during coronavirus. 

Key resources for retirees

Pandemic Leave Disaster Payment

The Australian Government has launched support for individuals in all States and Territories if you can’t earn an income because you must self-isolate or quarantine, or if you are caring for someone with COVID-19.

For further information about eligibility and how to claim, please visit the Government’s Pandemic Leave Disaster Payment website.

COVID-19 Disaster Payment

The Australian Government has launched support for workers or sole-traders in the ACT, NSW, NT QLD, SA and VIC. This is a lump sum payment to help workers or sole-traders unable to earn income due to COVID-19 restrictions.

For further information about eligibility and how to claim, please visit the Government’s COVID-19 Disaster Payment website.

How we’re supporting business owners

Below you’ll find a summary of support available to you and your business.

SME Recovery Loan Scheme  

To support our business customers, a loan of up to $5 million may be available to eligible customers* with small or medium sized businesses who continue to deal with the economic impacts of the COVID-19 crisis. Applications must be approved on or before 30 June 2022. This loan must be used for business purposes or the purchase of commercial property, and is part of the Government SME Recovery Loan Scheme.

You can learn more about the SME Recovery Loan Scheme at the Treasury website.

Apply now

Cash flow support

Eligible CommBank customers who have registered to receive Government stimulus payments and need additional cash flow support in the interim can call our Business Financial Assistance line on 13 2607 and request bridging finance.

To be eligible to apply for this bridging finance customers must have opened a Business Transaction Account with CommBank prior to 1 January 2021, in addition to our standard lending eligibility (Interest and fees will apply).1

Defer repayments on your eligible BetterBusiness Loan

Eligible2 BetterBusiness Loan holders, with less than $10,000,000 of total commercial liabilities with CommBank, can request a loan repayment deferral due to the impact of the pandemic on their business.

Remember: If you defer your repayments, for the duration of the deferral period, interest and charges will continue to accrue at the agreed rate and time on any outstanding balances and add to the total loan balance. This means that the total amount of interest payable will be more than it would have been under the original contract term.

If you are in financial difficulty or require a deferral, call the Business Financial Assistance Team on 13 26 07 or contact your dedicated relationship manager.

Car and equipment finance

For business vehicle and equipment loans, eligible customers3 for SME Recovery Loan Scheme will receive a 0.20% p.a. discount off the standard rate.

Refund merchant fees
 

If you're facing financial difficulty, you can ask us to refund your Merchant terminal rental fees, minimum monthly Merchant Service Fee, Monthly Access Fee, and Simple Merchant Plan fee (as applicable) for up to 90 days. 

If you have a Relationship Manager they will be able to assist you with this, or you can call our Merchant Services team 24/7 on 1800 230 177.

Support for ACT businesses

Further information on available grants, eligibility criteria, and how to apply, can be found on the ACT Government’s COVID-19 economic support for business website.

Support for NSW businesses

Further information on available grants and payments, eligibility criteria, and how to apply can be found on the Service NSW COVID-19 help for businesses website.

Further information about payroll relief including tax reductions and deferrals can be found on the Revenue NSW website.

Support for NT businesses

Further information on available grants, eligibility criteria, and how to apply, can be found on the NT Government’s Business Recovery website.

Support for QLD businesses

Further information on available grants, eligibility criteria, and how to apply, can be found on the QLD Government’s Business Queensland website.

Support for SA businesses

Further information on available grants, eligibility criteria, and how to apply, can be found on the SA Government’s COVID-19 Support website.

Support for TAS businesses

Further information on available support, eligibility criteria, and how to apply, can be found on the Tasmanian Government’s Business Support Packages website.

Support for VIC businesses

Further information on available grants, eligibility criteria, and how to apply, can be found on the Victorian Government’s Business Victoria website.

Support for WA businesses

Further information on available grants, eligibility criteria, and how to apply, can be found on the Government of Western Australia’s Support for business website.

Latest government information

See what benefits you can claim

Personal

If you've lost income due to coronavirus and are claiming income support you may also be eligible for other benefits and rebates.

For businesses

You may be eligible for benefits, rebates and concessions that could help you save money and help your business with cash flow.

Check if you're eligible

Benefits Finder

Interpreter & translation options

View the Financial Support Guide in different languages, or find out about our interpreter services.

See translation support options

There is much that we can do together.

For further information and links to applications, please go to commbank.com.au/coronavirus

You can empower yourself and take charge of your financial wellbeing: Review your financial position. Understand and be realistic about what your income will be during this time. Adjust your expenditure if required so that you can sustain your financial position. Think about what parts of your expenditure are essential expenses that you need, versus discretionary expenses that you want. It can be important to set a budget that helps you manage this over the next 6-12 months if required.

 

Things you should know

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 current as at 13 January 2022 and is prepared without taking into account your individual and/or business needs and objectives. CommBank has the right to change or cancel this offer at any time without notice. The statements and content of this fact sheet have been sourced from various government publications and summarised. CommBank disclaims, to the extent permitted by law, all warranties, representations or endorsements, express or implied, with regard to the material and does not accept any liability in relation to the quality, operability or accuracy of the material.

1 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, Financial Services Guide and Business Transaction Account Terms and Conditions and consider them before making any decision about these products. Rates are subject to change. For current interest rates, visit business banking rates and fees. Fees, charges and Terms & Conditions apply.

2 Customers eligible to apply for a loan repayment deferral include any CommBank business customer who holds a BetterBusiness Loan with less than $10,000,000 of total commercial liabilities with CommBank. Loan repayment deferrals are offered at the final discretion of the bank. 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. 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. For current interest rates, visit Business banking rates and fees.

3 Customers need to meet Government SME Recovery Scheme eligibility criteria: small to medium sized businesses with up to $250 million turnover, including those self-employed, and not-for-profits; must have an Australian Business Number (ABN); available to current and new CommBank business customers. This offer cannot be used to purchase residential property or financial products or to provide loans to associated entities. 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. For current interest rates, visit Business banking rates and fees

The statements and content of this fact sheet have been sourced from various government publications and summarised. CommBank disclaims, to the extent permitted by law, all warranties, representations or endorsements, express or implied, with regard to the material and does not accept any liability in relation to the quality, operability or accuracy of the material.

*These products are only available to approved business customers and for business purposes only. Customers need to meet Government SME Recovery Scheme eligibility criteria: small to medium sized businesses with up to $250 million turnover, including those self-employed, and not-for-profits; must have an Australian Business Number (ABN); available to current and new CommBank business customers. This offer cannot be used to purchase residential property or financial products, or to provide loans to associated entities. 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 Asset Finance and consider them before making any decision about these products. For current interest rates, visit Business banking rates and fees. The statements and content of this fact sheet have been sourced from various government publications and summarised. CommBank disclaims, to the extent permitted by law, all warranties, representations or endorsements, express or implied, with regard to the material and does not accept any liability in relation to the quality, operability or accuracy of the material.

Please view our Merchant AgreementFinancial Services Guide and Operator and User Guides at our Merchant Support Centre.

Credit provided by the Commonwealth Bank of Australia.

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