What is a business overdraft?
Free up valuable business capital through an unsecured overdraft or secure the facility against an asset to obtain a lower interest rate.
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Business Overdrafts
A business overdraft is a flexible credit facility linked to your Bankwest business transaction account to help manage and boost your cash flow.
Manage your cash flow for unexpected expenses
6.39%
p.a.
Indicative secured variable rate
11.27%
p.a.
Indicative unsecured variable rate
With a business overdraft you can access your funds as and when you need it. Available as unsecured or secured options for the Business Zero Transaction Account.
Benefits
Peace of mind
Have funds available to pay suppliers, bills and wages when cash flow fluctuates. Minimum overdraft limit $5,000. 1
Repay as and when you need
Repayments don't need to follow a regular schedule so long as you stay within your agreed limit. Only pay interest on the money you borrow. 2 Repayments are not required until credit limit is fully drawn. The minimum payment amount is the interest only.
Easy access to funds
24/7 access through online banking and ATMs.
Combine with your everyday business account
Add to your Business Zero Transaction Account.
Secured and unsecured options
Free up capital with an unsecured overdraft, or use property as security to get a lower rate.
Added security
An agreed limit in place for additional money when you need it most.
Rates and fees
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| Business Zero Transaction Account Overdraft | |
|---|---|
| Name | Rate/Fee |
| Indicative secured variable rate | 6.39% p.a. |
| Indicative unsecured variable rate | 11.27% p.a. |
|
Variable overdraft reference rate
3
|
7.27% p.a. |
| Limit establishment fee | Available on application |
| Line of credit fee ? | Available on application |
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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. Details of other fees that may be incurred in the overdraft will be provided on approval of the facility. Please refer to the Business Zero Transaction Account PDS for full terms and conditions including other fees and charges that may apply to your business account.
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. Details of other fees that may be incurred in the overdraft will be provided on approval of the facility. Please refer to the relevant Product Schedule for full terms and conditions including other fees, charges and interest that may apply to your business account.
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Check your eligibility
- Minimum overdraft limit $5,000 1
- You must have an eligible Bankwest business transaction account to combine with your Business Overdraft
- You must meet Bankwest's lending criteria.
Prefer to get in touch online? Make an enquiry.
How can we help?
Speak with someone from the team today
Business Banking Specialists
Here’s how to get in touch
- Maximum overdraft limit subject to approval.
- Repayments are not required until credit limit is fully drawn. The minimum payment amount is the interest only.
- Also known as the Business Market Reference Rate.
- This reference rate is applicable to the Business Cheque Account.
- This reference rate is applicable to the Corporate Transaction Account and Business High Interest Transaction Account.