Fears are growing that a far-right rally planned for Sunday in Melbourne may become a flashpoint between rival groups as tensions rise in the wake of the Springvale Commonwealth Bank fire.

One business near the site of the planned protests has already decided to remove tables and chairs and lock customers inside, fearing street furniture could be used as weapons if the protest turns ugly.

Members of Reclaim Australia clash with Antifa, the militant arm of Rally against Racism, during simultaneous rallies between the ideologically opposed groups in Melton on November 22, 2015 in Melbourne. Credit:Chris Hopkins

It is believed the man alleged to have started the fire is a 21-year-old Muslim asylum seeker who arrived from Myanmar in 2012 or 2013.

Far-right groups have been quick to jump on social media over the past 24 hours and blame the incident on Australia's refugee policy.