Speaking on ABC radio on Monday, Commonwealth Bank CEO Matt Comyn said the bank wouldn't rule out lowering interest rates on unsecured credit card debt.

"We certainly are looking at how we might price credit cards over this period," he said.

Savings.com.au has reached out to Commonwealth Bank for further comment.

Mr Comyn was also quick to reassure customers the bank was in a strong position to withstand the crisis.

"CBA has never been in a stronger situation from our balance sheet, capital, levels of liquidity and cash," he said.

"Australia's financial institutions are thankfully very strong at this point in time and we're going to use our balance sheets alongside the government and the Reserve Bank to get businesses through to the other side.

"It's critical we are able to give our customers certainty."

Looking for a secure place to store cash? Below are one-year term deposits with some of the highest interest rates in the market.

Provider

At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]5000$product[$field["value"]]$product[$field["value"]]More details
  • Guaranteed rate of return
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  • Choose your own term - Options range from one month to five years

Term Deposit - 11 months

  • Guaranteed rate of return
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  • Choose your own term - Options range from one month to five years
At Maturity, Monthly$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]2500031$product[$field["value"]]$product[$field["value"]]More details

Term Deposit - 12 months

    At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500007$product[$field["value"]]$product[$field["value"]]More details

    Wealth Builder Term Deposit - 12 months ($50,000+)

      At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]2500031$product[$field["value"]]$product[$field["value"]]More details

      Term Deposit ($25k-$5m) - 12 months

        At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]10008$product[$field["value"]]$product[$field["value"]]More details

        Online Term Deposit - 12 months

          Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

          Term Deposit ($1000-$500001) - 12 months

            Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

            Term Deposit - 12 months

              At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500031$product[$field["value"]]$product[$field["value"]]More details

              Term Deposit ($5k-$500k) - 12 months

                At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500031$product[$field["value"]]$product[$field["value"]]More details

                Term Deposit ($5k-$25k) - 12 months

                  At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]50001$product[$field["value"]]$product[$field["value"]]More details

                  Fixed Term Deposit - 12 Months ($500+)

                    Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]5000$product[$field["value"]]$product[$field["value"]]More details
                    A GREAT RATE FOR OVER 55s
                    • If you are over 55 you can take advantage of special rates
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                    A GREAT RATE FOR OVER 55s

                    Term Deposit (Platinum Plus 55+) - 12 months

                    • If you are over 55 you can take advantage of special rates
                    • $0 monthly account fee
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                    At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]5000$product[$field["value"]]$product[$field["value"]]More details
                    • Guaranteed rate of return
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                    • $0 monthly account fee

                    Term Deposit - 12 months

                    • Guaranteed rate of return
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                    • $0 monthly account fee
                    At Maturity, Monthly$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]2500031$product[$field["value"]]$product[$field["value"]]More details

                    Term Deposit - 12 months (Monthly)

                      Annually, At Maturity, Monthly$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]1000031$product[$field["value"]]$product[$field["value"]]More details

                      Term Deposit ($10000+) - 12 months

                        Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100031$product[$field["value"]]$product[$field["value"]]More details

                        Term Deposit ($1000+) - 12 months

                          At Maturity, Annually$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500000$product[$field["value"]]$product[$field["value"]]More details

                          Fixed Term Deposit ($500000+) - 12 months

                            Annually, At Maturity, Monthly$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]500031$product[$field["value"]]$product[$field["value"]]More details

                            Term Deposit ($5000+) - 12 month

                              At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]2000$product[$field["value"]]$product[$field["value"]]More details

                              Term Deposit Special - 12 months

                                Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]100000031$product[$field["value"]]$product[$field["value"]]More details

                                Term Deposit ($1,000,000-$2,000,000) - 12 months

                                  Annually, At Maturity$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]10000031$product[$field["value"]]$product[$field["value"]]More details

                                  Term Deposit ($100000+) - 12 months

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                                    Important Information and Comparison Rate Warning

                                    Mr Comyn said only a "small number" of customers had so far contacted the bank to take up the offer of deferring their mortgage payments for six months.

                                    The bank will also reduce home loan repayments to the minimum required under their loan contract from 1 May, unless they opt-out. 

                                    According to the bank, this will release up to $400 per month for customers.

                                    Yesterday, the Morrison Government announced a second wave of stimulus.

                                    One of the measures will allow sacked and stood-down workers to withdraw $20,000 over a two-year period, and 2020-21 to help them pay for essentials.

                                    Mr Comyn said he supports the measure.

                                    "It's a relatively small amount over a two year period, I think that's appropriate and clear," he said.

                                    "I do think that's important people have a variety of means and mechanisms to get access to cash to get them through a period that has been outside their control."