If you're planning a building or construction project for your new or expanding business, with our Business Variable Construction Loan you can enjoy the benefits of interest only repayments and withdraw your funds gradually over a period of 12 months while you build.
Category: Business Loans Last Updated November 20, 2023 Effective May 3, 2024
General Lending Rates
Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information
Interest Rate 7.76% PA
Comparison Rate 0.00%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Features
OtherAdditional Information: Flexible repayment frequency - pay weekly, fortnightly or monthly / monthly for Interest Only
OtherAdditional Information: Free up extra cash by paying only the interest portion of the loan for up to five years, then reverts to P&I
OtherAdditional Information: With our Construction Loan option you can withdraw your funds gradually over a period of 12 months while you build so you only pay interest on the portion of the loan you have drawn; keeping your money in your pocket for longer
Product Eligibility
Business - Business And Non-personal Entities.
OtherAdditional Information: Terms, conditions, fees, charges and lending criteria apply and are available on application
Bank Fees and Charges
Security Handling Fee (Event), Amount: 150.00. Additional Information: Charged per occurrence. Payable in the following circumstances; deed of priority, title production, variation of priority, consent or name change.
Discharge Of Mortgage (Event), Amount: 350.00. Additional Information: For the preparation of a discharge of mortgage.
Documentation Fee (Event), Amount: 200.00. Additional Information: Payable in the following circumstances: preparation of an additional mortgage; preparation of a guarantee; or where documents have been cancelled or redone, at your request, after contracts have been issued.
Valuation Fee (Event), Amount: 0.00. Additional Information: Valuation Fee at cost and payable by member.
Business Loan Application Fee (Upfront), Amount: 600.00. Additional Information: Application Fee of $600 for loans up to $80,000 or 0.75% of loan for loans greater than $80,000
Business Loan Application Fee (Upfront), Amount: Not Listed.. Additional Information: Application Fee of $600 for loans up to $80,000 or 0.75% of loan for loans greater than $80,000
Progress Draw Fee (Event), Amount: 400.00. Additional Information: Payable per property when a loan will be drawn progressively for either construction or major renovation purposes. The fee includes the cost of all progress draws and the final inspection.
Limitations & Restrictions (Constraints)
Min Limit of 20000.00 Additional Information: Minimum loan size is $20,000.00
