Unsecured Business Overdraft
Find out how you could get an overdraft for up to $250k that benefits your business cash flow without using assets to secure the loan.
Special offer: $0 establishment fee for a limited time*
*New limit or Top-up of up to $1m.Tap into additional funds to boost business cash flow
No security
There’s no need to use assets to secure the loan.1
Pay for what you use
Only pay interest on the overdraft amount you use.2
Flexible repayments
No fixed time frames or need for regular repayments.
Quick access
Overdraft limit of up to $250k for when you need it.
At a glance
| Amount you could borrow | $5k to $250k |
| Variable interest rate | 13.46% p.a.2 |
| Monthly fee | 1.50% p.a. of total limit3 |
| Establishment fee | $0 for a limited time when eligibility criteria are met. |
Other fees and charges may apply.
What you could use an Unsecured Business Overdraft for
- Pay suppliers, purchase stock or make payroll
- Revolving line of credit available whenever you need it
- Relieve cash flow gaps between payments
- Extra funds to cover business expenses
What you need to apply
To be eligible for an unsecured overdraft loan, you must:
- be a business entity or an individual 18 years and above, domiciled in Australia; and
- require the funding wholly or predominantly for business purposes; and
- meet the credit criteria and credit policy requirements under an applicable offer for this product.
Before applying for one of our unsecured business overdrafts, your business must also:
- hold a Westpac business transaction account in the same name that you will use to apply
- have traded for at least 12 months with a valid ABN or ACN
- turnover more than $75k annually and be registered for GST
- be operating as a sole trader, partnership, trust or company (if the company is a sole director company, the sole director must also be the sole company secretary). Guarantees may be required
- have less than $1.5m in business lending with Westpac
- have ATO payments, loan repayments and employee entitlements (including super) up to date
- not foresee a decline in business revenue that would affect the payment of business liabilities
- not be a franchisee, SMSF or charity
- tell Westpac about all your accounts and liabilities, so we have a complete and accurate view of your business's financial position
- in the past 30 days, have not taken up any additional business lending with any financial institution. The overdraft will be used for business purposes only and will not be used to refinance any other lending
- not use the overdraft to start a business, fund a property development or to purchase residential property.
Don’t meet the criteria? Take a look at a secured business overdraft.
Ready to get started?
Submit an enquiry
Leave your details and we’ll be in touch, or give us a call 8:30am-6pm, Mon-Fri (Sydney time).
Frequently asked questions
We won’t ask you to provide specific asset security to secure your overdraft. For corporate borrowers, director guarantees may be required.
If you choose to offer security for your business overdraft, you will typically pay a lower interest rate on the funds you draw down than if you choose the unsecured business overdraft option. Bear in mind that the interest rate is lower because we secure the overdraft using a pre-agreed asset, which we can recover against if you are unable to repay the overdraft.
A line fee is charged monthly based on the total limit. The monthly charge is calculated using the line fee annual percentage rate, total limit, and number of days to arrive at the monthly amount.
For example, let’s say the line fee is 1.50% p.a., the limit of your overdraft is $10,000 and the month has 31 days.
The line fee is calculated as:
(1.50% of $10,000)/365x31 days = $12.73 per month.
Conditional offers are calculated periodically based on your financial information at a certain point in time. If your financial situation changes, this may affect your borrowing power, meaning that you may no longer have a conditional approval.
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Things you should know
Credit criteria, fees, charges, terms and conditions apply. Director's guarantee may be required.
1. Guarantees may be required.
2. You'll only be charged interest on the money you’ve used (calculated daily and charged monthly) – however a monthly line fee will still apply.
3. A line fee is charged monthly based on the total limit. The monthly charge is calculated using the line fee annual percentage rate, total limit, and number of days to arrive at the monthly amount.
For example, let's say the line fee is 1.50% p.a., the limit of your overdraft is $10,000 and the month has 31 days. The line fee is calculated as: (1.50% of $10,000)/365x31 days = $12.74 per month.
*Terms and Conditions for the $0 Establishment Fee Waiver Offer on Business Overdrafts
- We will waive the establishment fee for eligible new Business Overdrafts of up to $1 million, or for a limit increase of up to $1 million on an existing Business Overdraft.
Eligibility and timing
- Applications must be received and approved between 07 April 2026 and 30 September 2026 and settled within 90 days of approval.
- For Business Overdrafts, you must also have an eligible Westpac Business Transaction Account.
Exclusions
- The offer is not available for any other applications, including those submitted through third parties or brokers.
- Temporary Overdrafts are not included.
- We may withhold the offer where an application is reasonably determined by us to be fraudulent or materially misleading.
Approval
- All applications are subject to approval. Standard terms, conditions, fees, charges, and credit criteria apply.
How the fee waiver works
- We will waive the establishment fee or refund it within 60 days of settlement.
- If you believe an establishment fee has been charged in error, please contact us.
- Establishment fees may still apply to other products you request as part of your application.
- This offer cannot be used in conjunction with any other offer. We may vary or withdraw this offer at any time.