The Business Overdraft Facility is a line of credit attached to a Business Cheque Account to help manage cash flow or any unexpected business expenses. The account should fluctuate between credit and debit balance.
Category: Overdrafts Last Updated January 31, 2024 Effective April 30, 2004
General Lending Rates
Rates listed below are for a VARIABLE product. Additional Information Base rate only, an additional margin is applied for security type (cash, residential and commercial) and the applicants credit risk.
Interest Rate 8.26% 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: No ongoing account keeping fees where overdraft limit is $20,000 or greater.
Card AccessAdditional Information: Full transactional access with a Visa Debit card.
Digital WalletAdditional Information: Available for Visa cards only.
Relationship ManagementAdditional Information: Eligible customers enjoy dedicated and personalised service from the Business Solutions team.
Digital BankingAdditional Information: Internet Banking and Mobile Banking.
Digital WalletAdditional Information: Available for Visa cards only.
Product Eligibility
Residency Status - Available To Permanent Australian Residents..
OtherAdditional Information: The Business Overdraft is required to be attached to a Business Cheque Account or Club Account.
Min Age - 18. Additional Information: Minimum cardholder age 16 years.
BusinessAdditional Information: Available for business purposes for individual and non-individual borrowers, including sole traders, trusts (excluding SMSFs) and companies.
Bank Fees and Charges
Consent And Execution Of Leases, Plans Of Subdivision Etc. (Event), Amount: 150.00. Additional Information: Consent and Execution of Leases, Plans of Subdivision etc.
Upfront Legal & Document Fees (Variable), Amount: Not Listed.. Additional Information: Minimum Fee is $250. The costs for reviewing documents and preparing security documents and facility agreements differ based on the type of security and other factors. The estimated fees will be provided in your Letter of Offer.
Application Fee (Upfront), Amount: Not Listed.. Additional Information: Also known as establishment fee and payable when you accept the commercial letter of offer. (Does not apply to Residentially Secured Business Loan).
Upfront Fees Residential Security (Upfront), Amount: 600.00. Additional Information: For new facilities secured by residential property, this single fee replaces Application Fee, Valuation Fee, Legal and Documentation Fee.
Limit Excess Fee (Event), Amount: 17.50. Additional Information: A limit excess fee of $17.50 each time the facility limit is exceeded. If the balance owing exceeds the facility limit with or without our approval, we charge interest on that excess at the default rate.
Registration Fee (Variable), Amount: Not Listed.. Additional Information: Payable to us when there are additional costs associated with registration (for example, this may include a discharge of mortgage fee, transfer fee or any other dealing fee).
Valuation Fee (Variable), Amount: Not Listed.. Additional Information: The cost of each valuation report required to be issued.
Interest Rate Conversion Fee (Event), Amount: 250.00. Additional Information: Fee is payable for interest rate maintenance/conversion with a Letter of Variation or Letter of Advice.
Replacement Document Fee (Event), Amount: 100.00. Additional Information: Fee is payable for replacement of documents due to the original documentation being lost or amendments to the original documents being required.
Partial Release And Discharge Of Security Fee (Exit), Amount: 250.00. Additional Information: Payable whenever we arrange for a Partial Release or Discharge of Security.
Settlement Fee (Upfront), Amount: 300.00. Additional Information: Settlement fee is estimated at $300 per settlement.
