Consumer Credit Contract Schedule
Consumer Credit Contract Schedule
Consumer Credit Contract Schedule
This Schedule
This is an offer by you, the borrower/s, to enter into a contract for a Secured Personal Loan.
Before you sign this Schedule, please read the Schedule, the Personal Loan Terms and Conditions and (if your
loan was introduced to us by a third party) the Personal Loan Commission Disclosure Document.
Together, they make up your loan contract and include the information we must provide you.
The total amount of repayments and total interest charges payable quoted in your Schedule are estimates. The
actual figures will depend on factors such as when you make repayments and whether interest rates change.
The Borrower/s
MD ABU SHAYEM
Financial Table
Item D Estimated total interest payable over your loan term $2,172.61
(iv) Period over which repayments are to be made 2 years from the Funding Date
(v) First monthly repayment due For monthly payers: the next
occurrence of your selected due date
after the loan account is funded^.
However, if this date is less than 21
days after funding it will typically occur
in the following month.
For weekly or fortnightly payers:
Typically 28 to 36 days after the loan
account is set up.
You can confirm the date by contacting
us or checking NetBank.*
*If you've chosen weekly or fortnightly repayments, the amount you are required to pay each month will
depend on how many weekly (4 or 5) or fortnightly (2 or 3) payment dates fall in that month. Based on your
selected frequency, your minimum monthly repayments will be as follows:
In months with 4 weekly direct debit dates $1,528.00
In months with 5 weekly direct debit dates $1,910.00
Your first weekly/fortnightly payment will be debited on the day agreed which could fall in the first week after
your loan is funded. So long as you make the weekly or fortnightly payments on the payment dates, you will
have satisfied your monthly repayment obligation as set out in Item E.
^If a date is not selected, then your monthly due date will be the 1st.
Settlement On funding if you require more than $15.00 per additional cheque
cheque fee two cheques
Other Information
Item G Frequency with which interest is Monthly
debited to the Loan Account
Item H Security
Security Interest - Goods over motor vehicle of 2023, TOYOTA, COROLLA, JTDBC3FE80JOLI357
Prior to funding, you must provide us a copy of your tax invoice or quote from your retailer and/or
installer (on company letterhead), which confirms:
1. Purchase amount (the amount of credit requested must not exceed the purchase amount);
2. Retailer and/or installer details;
3. Itemised system* details for the eligible clean energy product(s).
*System size noted on the invoice/quote must be equal to or greater than our requirements, as set out
above.
If we are not satisfied that you have met the above conditions, you will not be eligible for the
discounted interest rate as set out in Item C. Our standard pricing (without any discount) will apply if
you wish to proceed with your loan.
Your offer: When you sign or electronically accept this Schedule, you make an offer to enter into a loan
contract with us. The contract will then start on the day we fund your loan or otherwise accept your offer.
IMPORTANT
(Name of borrower)
MD ABU SHAYEM
(Signature of borrower)
X
As a result of this fee increase, your minimum required repayment may also need to increase. If it
does, please ensure you have sufficient funds in your account to cover the increased repayment
amount. Please refer to the below table highlighting the expected increase to your minimum
repayment amount depending on your repayment frequency:
Repayment Frequency Increase to Your Minimum Repayment Amount
Weekly Your Minimum Weekly Repayments will increase by $1 to $2.
Fortnightly Your Minimum Fortnightly Repayment will increase by $2 to $3.
Monthly Your Minimum Monthly Repayment will increase by $5.
These are estimates only. Please log on to NetBank or the CommBank app following the change, to
view your actual repayment amount.
Please note if you have entered into a special arrangement with the bank for repayment of your loan
which is ongoing, this letter and fee increase does not impact on that arrangement. Please continue
making payments as per your agreed arrangement.
Need more information?
For further details on our rates and fees, please visit commbank.com.au/personal-loans. If you’re
needing support with rising expenses, please visit commbank.com.au/costofliving for a range of
tools, tips and guidance articles to help you with the everyday cost of living.
Important Notice: Changes to your CommBank Personal Loan Terms
and Conditions, Credit Guide and Information Statement
Effective 02 September 2023, your CommBank Personal Loan Terms and Conditions, Credit Guide
and Information Statement are amended as follows:
[Section 1] Your contract with us, add a new clause: “ePayments Code When you carry out an
electronic transaction (for example redraw using online, mobile or telephone banking);
we warrant that we will comply with ASIC’s ePayments Code;
our Electronic Banking Terms and Conditions apply – this document is available at
commbank.com.au or from your local CommBank branch. You agree that we can give you this
document electronically by making it available on our website and paper copies will not be
provided (other than on request at a branch).”
[Section 2] Setting up your loan, delete last paragraph under clause: “2.2. Additional conditions for
funding Secured Personal Loans’ and replace with ‘You authorise us and any of our officers to date
and complete any blanks or make any amendments in our security documents (where the
amendments are consistent with information provided by you or your representative).”
[Section 3] Managing your loan, under clause: “3.3.3. What is an Early Repayment Adjustment?”
delete “We charge this if we estimate we will make a loss as a result of the early repayment” and
replace with “We charge this if we reasonably estimate we will make a loss as a result of the early
repayment. The amount you must pay us as compensation will be no more than our reasonable
estimate of our loss."
[Section 5] Default and other matters, delete first sentence under clause: “5.1.1. When you’re in
default, and replace with:
You’re in default if:
Overdue amount: you don’t make your required repayments on time;
Breach of contract: you don’t follow these Terms and Conditions in a manner which
materially increases our risks in relation to your loan;
False information: at any time you give us information or make a representation or
warranty to us which is materially incorrect or misleading (including by omission) and which
materially increases our risk in relation to providing you credit or continuing to provide you
credit;
Illegality/Proscribed person: we believe on reasonable grounds that (i) it is, or may become,
unlawful or contrary to our legal obligations, for you or us to continue with your loan; (ii)
you or anyone else associated with the Security Property appear to our reasonable
satisfaction to be a Proscribed Person (as defined in clause 5.2.5) Note - we may be
restricted by law from providing specific information to you and/or others in these
circumstances;
Insolvent: you become insolvent or steps are taken to make you so.
[Section 5] Default and other matters, delete first bullet point which reads “We are not reasonably
satisfied with the value or your unencumbered ownership of the car.”
[Section 5] Default and other matters, insert new sentence after first paragraph under clause:
“5.1.2. Actions we may take’ We also do not have to give you a notice or wait until the period
specified in the notice has elapsed, where we reasonably believe that:
We were induced by your fraud to enter into the contract; or
In the case of a Secured Personal Loan, urgent action is necessary to protect the car.
[Section 5] Default and other matters, add a new sub-heading “5.2 Other matters”
[Section 5] Default and other matters, add a new section “5.2.1 Making adjustments We will use
best endeavours to ensure that our systems and processes calculate and apply fees, interest,
reductions, benefits or other amounts or features as described in your contract with us. However
sometimes errors do occur, for example due to:
(a) the limitations of our systems and processes
(b) the operation of manual processes
(c) changes to our systems and processes
(d) things that are beyond our knowledge or reasonable control.
Where that happens, without limiting any rights you may have relating to the error, we may (as
appropriate) at a later time but as soon as practicable after the error has been identified:
(e) make adjustments to put you in the same position as if we had applied the correct amount or
made the correct calculation initially;
(f) provide that reduction, benefit or feature to you, and make adjustments to put you in the same
position as if we had provided the reduction, benefit or feature as described;
(g) take the action required, and make adjustments as necessary to put you in the same position as
if we had taken the action as described.”
[Section 5] Default and other matters, add a new section 5.2.5 If you are deemed to be a
Proscribed Person
A Proscribed Person is any person or entity:
(a) that has been proscribed under the Charter of United Nations Act 1945 (Cth);
(b) who is in breach of the laws of any jurisdiction relating to money laundering or counter-
terrorism;
(c) who appears in a list of persons with whom dealings are proscribed by the government or a
regulatory authority of any jurisdiction; or
(d) who acts on behalf, or for the benefit, of a person or entity listed above.
(b) as necessary or desirable to comply with or reflect any law, code of conduct, regulator guidance
or requirement, or decision of a court or other dispute resolution process;
(c) to reflect changes in technology or our processes, including computer systems;
(d) to include new product features or services or to ensure that the terms and conditions match our
operational processes;
(e) to discontinue or replace a product, and for this purpose we may change your product to a
different product with similar features to the discontinued or replaced product;
(f) to consolidate or simplify our terms and conditions and contractual documents;
(g) to add, change or remove any concessions or benefits;
(h) to bring us into line with our competitors, industry or market practice or best practice in Australia
or overseas;
(i) to manage risks including credit risk, fraud, operational or regulatory risk; or
(j) to correct errors, omissions, inconsistencies or ambiguities.
Each of the changes in paragraphs (a) to (j) is a separate right and this clause is to be read as if such
change was a separately expressed right.
Without limiting our right under paragraphs (a) to (j), we may from time to time change any of the
terms and conditions of your contract for reasons other than the ones mentioned above (e.g. due to
unforeseen events).
If you don’t like a change
If you don’t like a change we make, you can end your loan early by paying us the amount required to
pay out your credit contract on the day you wish to end your contract. For Fixed Rate and Secured
Personal Loans, an Early Repayment Adjustment may apply.
Changes we won’t make
For Fixed Rate and Secured Personal Loans, we won’t increase the interest rate during the loan term
or reduce your early repayment rights.”
[Section 7] Meaning of words used in this document, add a new term Proscribed Person A person
who appears to us (a) to be a proscribed person or entity under the Charter of United Nations Act
1945 (Cth); or (b) to be in breach of the laws of any jurisdiction relating to money laundering or
counter-terrorism; or (c) to appear in a list of persons with whom dealings are proscribed by the
government or a regulatory authority of another jurisdiction; or (d) to act on behalf of, or for the
benefit of, a person listed in sub-clauses (a) to (c).