Rating based on 41 reviews

Commonwealth Bank

Updated

  • Business loans up to $999,999
  • Low-interest starting from 4.48%
  • Repayment up to 36 months

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Commonwealth Bank homepage

Author Commonwealth Bank. Screenshot of Commonwealth Bank website. [Accessed April 12, 2018]

Commonwealth Bank - We mean business

Commonwealth Bank is a financial services provider offering personal loans, car loans, business loans and other financial products.

Seeing that we have a number of people we work with on a regular basis, we will leave them without giving them a solution to their financial crisis. As such, we work overtime to ensure that our customers, partners and our business is always a priority in the ever-changing world that we live in.

Support and encourage employees

We take great pride in our personnel. We are always trying to find creative ways of making them find it easier to do their job on a daily basis. As such, we support their opinions and sometimes put them to work.

We are always supporting our consultants to strive to achieve bigger things because we believe Commonwealth Bank wouldn’t have transitioned to what it is today if it weren’t of their constant efforts. When you apply for business finance with us you know you will be taken care of.

Strong corporate governance standards

When we say, “we mean business”, we mean it. Commonwealth Bank is committed to ensuring that the true ethic of financial service is realized and practised not just by us as Commonwealth Bank but by our customers who choose to have their services rendered by us.

Health and safety policy statement

As we have already stated how important our staff is, we take considerable measures to ensure that they are safe, protected and happy individuals while contributing towards a financial service of serving others. We will never jeopardize their lives because we believe their health and safety supersedes all kinds of production.

Loans up to $25,000

Clients that are interested in applying for a loan can do so by applying online for this kind of plan.

They will have the option of choosing the kind of business loan that they prefer as there are quite a few options available for entrepreneurs. The application should contain the applicant’s personal information such as personal details, business details and financial standing. The financial records should be derived from financial years of a business operation.

Business loan verification and assessment

After you have applied, we will need to verify all the documentation you have submitted to us. We also need to access if your business is in a good financial place to take up a business loan.

The money will be deposited in your account

After you have accepted the terms and conditions of the business loan and you have signed for your credit advance, the money will be deposited in your bank account in one or two business days.

Criteria a client needs to meet to qualify for a business loan at Commonwealth Bank

  • The client needs to be above the age of 18 years old. This way, we know that the customer is mature enough to know what he is doing and that everything he is doing, he is doing with a sound mind.
  • The client needs to be an Australian or permanent citizen. We will also require to see proof.
  • The client needs to have an operative business under his name if he wants to be considered for a business loan.

Commonwealth Bank Business loan

  • Loan Type Business loans
  • Interest Rate 4.487.81% p/a
  • Loan Amount up to $999,999
  • Repayment 1 month to 36 months

Benefits of Commonwealth Bank

  • Lower interest rates 
  • Get finance to fund your business
  • Smart business investment
  • Get finance to fund your business

Commonwealth Bank - Choose your interest rate

Clients can get a maximum amount of $ 25 000 and can pay off the long or short-term loan in a number of years. Furthermore, there is a wide range of interest rates to choose from which include:

  • Fixed rate: The fixed rate method is for a period of one to seven years. The maximum period is 10 years which can be taken by agribusiness clients.
  • Fixed rate residentially secured: The fixed rate residentially secured method is for a period of one to five years. This is mostly for home loans.
  • Variable rate: the advantage of this method is that there is a value derived from descending interest rates activities and get the flexibility to redraw reserves remunerated in totalling to the minimum credit refunds.

Therefore, depending on the kind of loan amount you are looking to get, please remember that there are different interest rates to take into account. If you are not sure about which financial plan is the right one for you, get expert advice from one of our brokers and we will assist you in helping you decide which plan is more appropriate for your business.

Flexible terms about business loans

Generally, the loan term is from one to 30 years. This doesn’t mean the client doesn’t have an option of paying his loan earlier than the scheduled date. If he can, he is more than able. In fact, he will have a relatively lower amount to pay and will finish his business loan in a shorter period as opposed to the 30 years that he signed for.

With flexible terms, the client will have the ability to do the following:

  • Manage your cash flow with suitable refund preferences
  • Achieve your interest rate risk by attaining flexibility around secure and flexible rates
  • Redraw online promptly through NetBank or CommBiz (flexible rate advances only)

How to get hold of us?

Please give us a call when you are seeking some clarity on business loans or anything related to your financial plans. Our job is to ensure that we answer all your questions.

Call 13 1998 and we will attend to your requests during any time of the day or night.

man holding thumbs up

Commonwealth Bank is a trusted & reliable provider of business loans

In our review, Commonwealth Bank adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, as well as the National Consumer Credit Protection Regulations 2010, where the granting the loan will not cause financial distress to the consumer.

Commonwealth Bank is a registered credit provider in Australia; ACL 234945

Customer Reviews & Testimonials

What an amazing experience I had with the Commonwealth Bank. They are incredibly reliable and professional. I would not mind doing business with them again.

Pierre A
— Perth —

When needed a short term business loan, a colleague of mine recommended the Commonwealth Bank and I can safely say that it was a great recommendation.

Barry H
— Darwin —

Commonwealth Bank Contact

Physical Address

Opening Hours

  • Monday 09:30 – 16:00
  • Tuesday 09:30 – 16:00
  • Wednesday 09:30 – 16:00
  • Thursday 09:30 – 16:00
  • Friday 09:30 – 17:00
  • Saturday – Closed
  • Sunday – Closed