Whether you are managing your cash flow, purchasing a commercial property or looking to expand your business, The Mutual Bank offers a range of Business Loan products to finance your business needs
Category: Business Loans Last Updated March 28, 2024 Effective May 3, 2024
General Lending Rates
Rates listed below are for a FIXED P&I product. Additional Information Interest margin may apply
Interest Rate 9.14% 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
Digital Banking
Redraw
Product Eligibility
Business
Residency StatusAdditional Information: Australian Citizens or permanent residents or as otherwise approved
Min Age - 18. Additional Information: Borrower must be minimum age of 18 years old
OtherAdditional Information: Fully secured by Residential Property
Bank Fees and Charges
Agents Cost Comm (Variable), Amount: 0.00. Additional Information: Not ascertainable, and payable to us or our solicitor or our or their agent
Break Cost Administration Fee Comm (Event), Amount: 300.00. Additional Information: Payable to us in addition to Break Costs
Cheque Issuing Fee Comm (Event), Amount: 2.50. Additional Information: Payable to us when a payment is made from your loan account by way of Financial Institution (FI) Cheque
Commitment Fee (Periodic), Amount: Not Listed.. Additional Information: It is charged on the unused portion of the facility limit. It is calculated daily from the date two months after the date of the Facility Offer until the facility is fully drawn
Default Administration Fee Comm (Event), Amount: 50.00. Additional Information: Payable to us when the borrower (or security provider) has not performed an obligation on time including an obligation to pay money. This fee is payable monthly commencing one month after the obligation should have been performed and up to and including the month in which the obligation is performed. We debit this fees to tour loan account each month until the default is remedied.
Discharge Administration Fee Comm (Event), Amount: 200.00. Additional Information: Payable to us each time we release a security
Dishonour Fee Comm (Event), Amount: 9.00. Additional Information: Payable to us when a payment (such as as a direct debit, salary deduction or cheque) is dishonoured
Duplicate Statement Fee Comm (Event), Amount: 7.00. Additional Information: Payable to us when we provide a copy of a statement
Duplicate Fee Comm (Event), Amount: 20.00. Additional Information: Payable to us when we provide a copy of a document
Information Fee Comm (Variable), Amount: 0.00. Additional Information: $1.00 per minute ($20.00 minimum fee). The fee will be calulated on the actual time spent retrieving and providing the information requested.Payable to us to provide information and that information is provided in writing
Loan Application Fee Comm (Variable), Amount: 0.00. Additional Information: Available at the time the application is made minimum application fee $250
Loan/overdraft Service Fee Comm (Variable), Amount: 0.00. Additional Information: Minimum fee $50.00 Amount available on application. Fee is debited on your account quarterly in arrears on the last day of March, June, September and December
Production Fee Comm (Event), Amount: 200.00. Additional Information: Per document per production. Payable to use if we produce a document to a land registry
Renegotiation Fee Comm (Variable), Amount: 0.00. Additional Information: Available on application. Payable to us whenever we agree to renegotiate or vary conditions on your loan other than altering interest rate options
Rollover Fee Comm (Event), Amount: 200.00. Additional Information: Per rollover. Payable to us when a loan goes from one fixed rate period to another
Security Substitution Fee Comm (Event), Amount: 300.00. Additional Information: Per new security. Payable to us to substitute a new security for an existing one
Settlement Fee Comm (Event), Amount: 150.00. Additional Information: Per settlement. Payable to us each time we or our solicitor attend settlement in connection with a security
Switching Fee Comm (Event), Amount: 300.00. Additional Information: Per switch. Payable to us to convert from one interest rate option to another on an existing loan or switch to another of our loan products
Title Search Fee Comm (Variable), Amount: Not Listed.. Additional Information: Not Ascertainable, payable to us to us or our solicitor or our or their agent on or before the settlement date
Valuation Fee Comm (Variable), Amount: 0.00. Additional Information: Valuation fees are upon enquiry. Payable in relation to each property or business to which a loan is secured
