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Commercial Car Loan

Access a great low fixed interest rate by using your car to secure the loan. We offset the carbon emissions of your car for the life of the loan.^

Interest rate from
5.45% p.a.

effective 7 October 2021

More rates and fees
Rates
Total Lending Interest Rate
Commercial car loan - (with SME Loan Guarantee Scheme) 4.49% p.a.
Commercial car loan 6.45% p.a.
Commercial car loan - with LEV discount* 5.45% p.a.
Fees and Charges
Establishment fee $495^
Monthly fee $0
Application fee $0
Late payment fee $0
Fees, charges & transaction limits
Loan rates
Loan fees

The bank with clean money is the Bank Australia needs.

What does your bank invest in?

 If the answer includes fossil fuels, weapons, tobacco or gambling, it's likely that the interest you're paying on your car loan is supporting these industries.

 

 Divestment makes a difference

Joining a bank that doesn't fund harmful industries, such as fossil fuels, is a tangible step towards a more sustainable future.

You can help make a positive impact

By moving your banking to Bank Australia, you are ensuring your money isn’t supporting the fossil fuel industry or industries that harm people and the planet. 

Why choose our Commercial Car Loan?

 

Carbon emission offset

Our commercial car loan offsets your car’s carbon emissions for the life of the loan^.

More certainty

The interest rate on our car loans is fixed for the life of the loan, giving you more certainty about your repayments.

Available to new and used cars

Your business could be eligible to access the SME Scheme backed loan rate and $0 establishment fee (normally $495) for either new cars or used cars (up to 7 years of age).

Flexible payments

Option to make weekly, fortnightly and monthly repayment. No loan administration or late payment fees.

Pay off your loan sooner fee free

We don't limit your ability to make extra repayments, and what's more there are no fees for early payment.

 

Who can apply?

New and existing Bank Australia customers

You must be:

  • a business customer with an ABN
  • small to medium sized businesses (‘SME’) or community group with annual turnover less than $50 million
  • not-for-profit organisations with turnover less than $50 million are also eligible
  • the Loan amount cannot exceed $1,000,000
  • be applying to Bank Australia only for a SME Scheme-backed loan
  • SME Scheme-backed loans have limited allocation and must be approved and unconditional by 30 June 2021

Commercial Car Loan repayments calculator

Calculate your commercial car loan repayments for different amounts, terms and interest rates.

 

A car loan to suit your needs

Explore our resources to help plan your car loan.

 

What will your car loan repayments be?

Calculate your car loan repayments for different amounts and terms using our commerical loan repayment calculator.

Find out more

Own a Low Emission Vehicle#?

Vehicles that meet LEV# criteria are eligible to have a discounted establishment fee of $295 (normally $495) and an interest rate of 5.45% applied

Find out more

Frequently asked questions

Can you make extra repayments?

Yes, you can make unlimited additional repayments without penalty.

How can you work out repayments for a loan?

To work out what your repayments will be for any amount of time for up to 7 years, please use our “What will my repayments be calculator”.

How do we offset the carbon emissions from your car?

We calculate your car's emissions based on average vehicle emissions figures and average mileage figures for Australian cars. We then purchase carbon offsets that are eligible under the National Carbon Offset Standard (NCOS) to offset the estimated emissions from your car in each year the loan is active with us. 

Are there fees if you pay out the loan early?

No.

How long will it take to provide approval for your car loan application?

Once you’ve submitted your application, we’ll usually have an answer for you within 6-8 business days.

Things you need to know

  1. Information provided is general in nature only. Any information and advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and seek any third party advice you need.
  2. Before deciding to apply, we provide and recommend you read our Financial Services Guide.
  3. All applications are subject to a credit assessment and approval. Terms and conditions apply. All applicable terms and conditions will be included in our loan offer.
  4. Additional fees and charges may be payable – all relevant details will be included in our loan offer.
  5. Information and interest rates are current as at the date of publication and are subject to change at any time, at the discretion of Bank Australia Limited.

^Carbon emissions: We calculate emissions associated with each car loan based on average vehicle emissions figures and average mileage figures for Australian vehicles (sources: National Greenhouse Accounts Factors and Australian Bureau of Statistics). For each car loan, we use the average vehicle emissions factor multiplied by the share of the year that the car loan was active. To access this rate, we require a Goods Security Agreement on the car. The car must also be registered in the name of the borrower.

#The Low Emission Vehicle fixed interest rate of 5.45% and a discounted establishment fee of $295.00 is available to new business borrowers if the car is Pure Electric, Plug In Hybrid Electric, Regenerative Hybrid or the internal combustion engine produces less than 125 g / km Tailpipe C02 (g/km) as published by Green Vehicle Guide©.

© Commonwealth of Australia (Department of Infrastructure, Regional Development and Cities) 2018 Limited End-user licence provided by the Department of Infrastructure, Regional Development and Cities: You may print and reproduce views obtained from the Green Vehicle Guide data, retaining this notice, for your personal use only. The Department of Infrastructure, Regional Development and Cities gives no warranty regarding the Green Vehicle Guide data's accuracy, completeness, currency or suitability for any particular purpose.

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