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.

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Manage your cash flow for unexpected expenses

7.99 %
p.a.

Indicative secured variable rate 

12.65  %
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. Close

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 or Business High Interest 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.

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.

Rates and fees

Business Zero Transaction Account Overdraft
Name Rate/Fee
Indicative secured variable rate 7.99% p.a.
Indicative unsecured variable rate  12.65 % p.a.
Variable overdraft reference rate 4
8.65% p.a.
Limit establishment fee Available on application
Line of credit fee ? Available on application
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. 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.

Business High Interest Transaction Account Overdraft
Name Rate/Fee
Indicative variable rate 3 7.70% p.a.
Variable overdraft reference rate
7.70% p.a.
Limit establishment fee Available on application
Line of credit fee ? Available on application
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. Details of other fees that may be incurred in the overdraft will be provided on approval of the facility. Please refer to the Business High Interest Transaction Account PDS for full terms and conditions including other fees, charges and interest that may apply to your business account.

Other Overdraft Reference Rates
Name Variable rate/fee
Business overdraft reference rate 5
10.01% p.a.
Small business overdraft reference rate 6
9.56% p.a.
Limit establishment fee Available on application
Line of credit fee ? Available on application
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. 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.

Get started

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.
1

Things you may need for your application

  • Current business and personal financials, and details of the property you intend to use as security if applicable. 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.

Prefer to get in touch online? Make an enquiry.

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 overdraft limit subject to approval.

2. Repayments are not required until credit limit is fully drawn. The minimum payment amount is the interest only.

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

4. Also known as the Business Market Reference Rate.

5. This reference rate is applicable to the Business Cheque Account, BPay Business Plus, Business Plus Account and Farm Plus Account.

6. This reference rate is applicable to the FreeB Account.