Business Loan
Essentials
- We've cut the variable rate Business Loan interest rate by 0.5% p.a.
- Choose a fixed or variable rate - whatever works best for you
- With a variable rate you can make extra payments, which could reduce interest paid over the life of the loan
- A variable rate also lets you swap between interest only or principal and interest (depending on how business is going)
- On the other hand, a fixed rate provides certainty in knowing what you're up for each payment
- Fixed rates also protect you from potential future interest rate movements
- A business loan needs to be secured by residential, commercial or rural property.
|
Need help to find the right loan?Our product selector can help you find the right business finance. |
Things you should know
- Any application for finance will be subject to the Bank's normal lending criteria. Terms and conditions apply and are available on request.
Features
- Redraw is available on a variable rate Business Loan: allows you to make extra repayments and access these later if you need them
Terms vary depending on security offered: (you can always swap the security if your situation changes)
- 25 years for residential
- 15 for commercial or rural.
Keep track of your loan balance online; at tax time, even export details of interest paid to your accounting software.
Things you should know
- Any application for finance will be subject to the Bank's normal lending criteria. Terms and conditions apply and are available on request.
Fees
Establishment and loan service fees will vary according to the type of security used for the loan. Different fees will apply - for example, if commercial property is used as security compared to residential.
Want a quote for a business loan? Send us an email and we'll get back either by phone or email - your choice..
Things you should know
- Any application for finance will be subject to the Bank's normal lending criteria. Terms and conditions apply and are available on request.
Rates
| Type of loan | Variable rate 1 |
|---|---|
| Business Loan rate | 8.14% |
| Business Equity Access Loan rate | 7.26% |
| Term | Fixed rate 2 |
|---|---|
| 1 year | 6.22% |
| 2 year | 6.28% |
| 3 year | 6.48% |
| 4 year | 6.65% |
| 5 year | 6.87% |
| 7 year | 7.12% |
| 10 year | 7.43% |
View Business Loan essentials.
Things you should know
- Any application for finance will be subject to the Bank's normal lending criteria.
- 1.The rates:
- -are variable
- -are current as at 14 May 2012
- -are shown as base rate only, a margin may apply.
- 3.The rates:
- -are fixed
-
-are current as at 21 May 2012
-
-are shown as base rate only, a margin may apply
-
At the end of the fixed rate period the interest rate will convert to the applicable variable business loan rate unless otherwise indicated.
