Business Low Rate Loan

A loan that comes with our low variable rate, plus flexible repayment options to suit your business and cash flow.

Benefits

Fund business growth

Minimum loan amount $10,000. 1 Maximum loan amount subject to approval. Close

Flexible repayment options

Choose your repayment date and frequency, including when you want interest to be charged.

Make extra repayments without penalty

Pay more than your minimum repayments at any time to help reduce your loan term. 2

Access surplus funds 24/7

Redraw your extra payments through online banking. 2

Interest only option

Choose to pay interest only for one to five years before starting principal and interest repayments. 3 Subject to approval and conditions. Close

Switch from variable to fixed

Option to roll to a Business Fixed Rate Loan and keep your account number. 4 Subject to approval. Switching fees may apply on rollover. Close

Check out these additional perks

Progress drawdowns

Suitable if you're using the loan for construction.

Capitalise your interest

Subject to approval and conditions.

Rates and fees

Rates
Name Variable rate
Indicative variable rate 5
4.99% p.a.
Business low rate (reference rate)
5.85% p.a.
More

Rates are intended for new borrowing only and subject to change. A margin may apply to the above rates based on our full credit assessment of your loan application.

Fees
Name Fee
Limit establishment fee
Available on application
Loan maintenance fee
$20 per month ?
Online surplus withdrawal fee
$10 per withdrawal 2
More

Details of other fees that may be incurred will be provided on approval of the facility.

For more information about this product, see the Business Low Rate Loan customer fact sheet (PDF)

Start your application online

Check your eligibility

  • Minimum loan amount $10,000 1 Maximum loan amount subject to approval. Close
  • Use residential or commercial property as security
  • You must meet Bankwest's lending criteria.
1

Things you may need for your application

  • Current business and personal financials, and details of the property you intend to use as security. We'll let you know exactly what documents you need to provide to us
  • If anyone connected to your application is new to Bankwest, including account signatories, key decision makers/beneficial owners (through ownership or control), trustees, guarantors and office holders, they'll need photo ID like an Australian driver's licence or passport. Or, see a handy list of other ID we’ll accept.

After submitting the form, a member of our Business Sales Team will be in touch to discuss what works best for you and complete your application.

How can we help?

Business Specialists Team
Speak with someone from the team today

Business Banking Specialists

Here’s how to get in touch

Things you should know

1. Maximum loan amount subject to approval.

2. No minimum redraw amount online. $10 online surplus withdrawal fee applies for each withdrawal. A $100 fee and $1,000 minimum redraw amount applies to other methods of redraw, including over the counter. Redraw and surplus deposits are not allowed for self managed super fund lending.

3. Subject to approval and conditions.

4. Subject to approval. Switching fees may apply on rollover.

5. The indicative variable rate is based on a fully secured loan option.