Access additional funds directly from your business transaction account, to manage your business cash flow or unexpected expenses.
Category: Overdrafts Last Updated April 18, 2024 Effective December 31, 1999
General Lending Rates
Rates listed below are for a VARIABLE product. Additional Information Business Overdraft Residential Equity Rate
Interest Rate 8.35% 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 Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
, VARIABLE, 11.33%
Lending Rate Type: Variable
Interest Rate: 11.33%, Comparison Rate 0.00%
Repayment Type:
Loan Purpose:
, VARIABLE, 11.93%
Lending Rate Type: Variable
Interest Rate: 11.93%, Comparison Rate 0.00%
Repayment Type:
Loan Purpose:
, VARIABLE, 17.43%
Lending Rate Type: Variable
Interest Rate: 17.43%, Comparison Rate 0.00%
Repayment Type:
Loan Purpose:
, PENALTY, 16.50%
Lending Rate Type: Penalty
Interest Rate: 16.50%, Comparison Rate 0.00%
Repayment Type:
Loan Purpose:
Product Features
OverdraftAdditional Information: An overdraft is a revolving credit facility so you can continue to access funds as and when you need.
OverdraftAdditional Information: There are no fixed repayments, unlike a term loan or business loan.
OverdraftAdditional Information: Manage unexpected expenses, or cover the cash flow gap between receiving payments from customers and paying your suppliers.
OverdraftAdditional Information: Access your overdraft just like you would funds in your business account, using an ATM, Netbank, CommBiz, EFTPOS, cheque, over the phone, in branch and the CommBank app.
OverdraftAdditional Information: Only pay interest on the balance of your overdraft.
OverdraftAdditional Information: No need to make regular repayments.
Product Eligibility
BusinessAdditional Information: Subject to eligibility and credit criteria, a business overdraft may be suitable for businesses of any size with a cash flow need, including: sole traders, partnerships, trusts, limited or proprietary limited companies.
Business - You Can Apply If Your Business Is: . Additional Information: A registered Australian business that includes sole traders, partnerships, trusts, limited or proprietary limited companies and if you are seeking a loan for business purposes only
Other - You're More Likely To Be Approved If:. Additional Information: You haven't been overdrawn or had your account in arrears anytime in the past 3 months.
Other - You're More Likely To Be Approved If:. Additional Information: You haven't been declared bankrupt in the last 5 years.
Other - You're More Likely To Be Approved If:. Additional Information: You haven't had any accounts in collections in the past 6 months.
Bank Fees and Charges
Establishment Fee (Upfront), Amount: 0.00. Additional Information: A one-off establishment fee when you open your overdraft. We'll waive this fee if you're eligible to apply online. Other fees and charges may apply.
Overdraft Line Fee (Periodic), Amount: Not Listed.. Additional Information: A regular Overdraft Line Fee charged Monthly. Fees charged may vary due to a number of factors relating to the application.
Overdraft Line Fee (Periodic), Amount: Not Listed.. Additional Information: A regular Overdraft Line Fee charged Quarterly. Fee charged may vary due to a number of factors relating to the application.
Fee (Event), Amount: 0.00. Additional Information: The amount and frequency of each fee depends on your individual circumstances and the other options you choose.
Limitations & Restrictions (Constraints)
Min Limit of 2000.00 Additional Information: The minimum overdraft amount is $2,000
Max Limit of 250000.00 Additional Information: The maximum overdraft amount is $250,000 for unsecured overdrafts
