Unsecured Business Overdraft
Special offer: $0 establishment fee for a limited time^
Pay no establishment fee when you add an overdraft to a business transaction account. Offer is available for applications received and approved between 1 October 2024 and 31 December 2024.
Limited time offer. Credit and eligibility criteria, T&Cs, fees and charges apply. Westpac Business transaction account required.
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 | 13.71% p.a.2 |
| Monthly fee | 1.50% p.a. of total limit3 |
| Establishment fee | $0 for a limited time. Save $250^ |
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 for business or investment purposes other than investment in residential property; and
- meet the credit criteria and credit policy requirements under an applicable offer for this product.
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).
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Things you should know
Credit criteria, fees, charges, terms and conditions apply. Director's guarantee may be required.
^ Business Overdraft Establishment Fee Waiver:
Offer comprises waiving of the relevant establishment fee for any new Business Overdraft, or increase to an existing Business Overdraft, where the application is received and approved between 1 October 2024 and 31 December 2024.
- You must have an eligible Westpac Business Transaction Account.
- This offer cannot be used in conjunction with any other offer and may be varied or withdrawn at any time.
- Excludes Temporary Overdrafts.
- Applications that include other products may incur separate Establishment Fees for those products.
- If you think that there has been an error in your charging of an establishment fee please contact us.
- Terms, conditions, fees, charges, credit criteria apply.
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 fee3 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.