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What is a Business Overdraft?


If for example, you are approved for $50,000, you can access extra cash on your Westpac transaction account up to that amount. It’s a line of credit in your account - and you only pay interest on the overdraft amount you use.

What do I pay?

11.71% p.a.
Variable interest rate

Charged only on money used.


1.20% p.a.
Monthly fee1

Charged monthly on the overdraft limit.

1. Apply online

Receive a decision within 3 minutes*, or if we need more information, we'll contact you within one business day.

2. Accept your contract

If approved, we'll generate a contract that we'll ask you to sign and submit.

3. Get funded

Once fully approved, the money will be available in your Westpac business transaction account in 24 hours.

It's easy to apply online

What you'll need:

A Westpac business transaction account. If you don't have an eligible business transaction account, we'll open a Business One - Low Plan account as part of your overdraft application

An active business with at least 12 months of financial history

A director's guarantee (corporate customers only).

Fees and charges

Interest rate: 11.71% p.a. (variable)

Monthly fee1: 1.20% of overdraft limit p.a.

Setup fee: $250

Once fully approved, access extra cash in 24 hours; apply online in just 10 minutes then receive a decision in 3 minutes*.

Products that can cover short-term expenses

Unsecured Business Overdraft Business Overdraft Credit Card
Overdraft limit: $5000 - $50,000
Overdraft limit: $50,000 - $200,000+ Credit limit: $1000 - $150,000
Unsecured2 Secured2 Unsecured2
Variable interest rate: 11.71% p.a. Variable interest rate: 6.11% p.a. Purchase variable rate: 14.25% to 20.24% p.a.
Monthly fee1: 1.20% of overdraft limit p.a. Monthly fee1: 1.20% of overdraft limit p.a. Annual fee: Starting from $75 p.a.

Help to manage your business

Planning for positive cash flow

Five strategies on how to keep cash moving through your business, to help your business succeed and grow.

Financing business growth

You've a great idea and feel sure it will work but don’t have the money to finance it. Where do you go?

Options to cover cash shortfalls

Cash shortfalls will affect most businesses. Find out what strategies may help avoid or reduce cash flow issues.

Things you should know

Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for product details.

Find out what information you need to provide to become a customer.

^ For existing eligible Westpac customers.

 1. 1.20% p.a. Line Fee charged monthly on the overdraft limit. For example: Based on a $10,000 limit and 31 days in a month: (1.20% of $10,000)/365 x31 days = $10.19 per month

2. When borrowing money, in most cases your lender will ask you to secure the loan using some form of asset that you or the borrower may own. This security is intended to cover the borrowed amount in the event you are unable to pay it back. Unsecured loans do not need security over an asset that you may own.