Unsecured Business Overdraft
Smooth out the ups and downs of cashflow.
Be prepared for the unexpected
Access up to $50k additional funds in your business transaction account to pay suppliers and wages when cash flow gets tight or to tender for larger jobs.
There is no need to secure the overdraft against any assets. Directors' Guarantee will be required for Corporate borrowers.
An overdraft is ongoing (no fixed term), and you repay what you can, when you can – as long as the overdraft stays under the agreed limit.
Fast application process.
Rates
12.12% p.a. variable interest rate (charged only on funds used).
Fees
- 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 - A $250 establishment fee applies on contract execution
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.