Our Business Overdraft is a flexible way to manage your short-term cashflow and cover everyday business expenses. Withdraw money up to your approved limit when needed, and deposit funds when your business receives payments.
Overdrafts are flexible short-term cash flow solutions that can help with the ups and downs of business. An overdraft can cover trading or seasonal cash flow cycles or managing working capital. For example, paying suppliers or purchasing stock when cash flow gets tight. Unlike business loans, overdrafts do not have set repayment commitments. You can draw on the funds in your overdraft, up to the agreed limit, and make deposits when funds are available.
To be eligible for an Business Overdraft:
You'll need to meet additional credit eligibility criteria upon application such as:
| Features | |
| Interest rate | Interest rates differ based on the type of security you provide for your loan, your loan amount and other factors |
| Minimum loan amount | No minimum |
| Maximum loan amount | Negotiated |
| Maximum LVR | N/A |
| Maximum loan term | Subject to annual review |
| Interest calculation | Calculated daily, charged monthly |
| Repayment type | Billing up to the credit limit then required to bring under limit each month |
| Establishment fee | Based on the loan amount approved at the time of application |
| Monthly loan fee | $0 |
| Early termination fee | $0 |
| Extra repayments | N/A |
| Redraw | N/A |
| Loan preparation fee | At cost |
| Increase/top up | Yes |
| Business type | Businesses of any type, including sole traders, partnerships, trusts and registered companies. Groups or individuals using the lending facility for business purposes are also eligible |
| Security | Secure your loan with residential or commercial property, cash collateral, directors guarantee or general security agreement |
| Second mortgage security | No |
| Vacant land as sole security | No |
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Eligibility criteria, terms and conditions, fees and charges apply.
