Alert

Interest rate announcement - 12 August 2022. Bank Australia will increase variable home loan and commercial variable rates in response the RBA’s recent decision to raise the official cash rate. From 18 August 2022, interest rates will increase by 0.50% for variable rate owner-occupier and investor loans, while commercial variable rate loans will also increase by 0.50%. For existing home loan customers, repayment changes will be effective from 1 October 2022. Read more here.

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2022-06-21 5:06 pm
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Commercial Overdraft

Bank Australia overdraft options to help smooth cash flow and cover business expenses.

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Why us?Who's it for?What you getFees and chargesApply

Our rates

Residential security
from
5.49
%
p.a.
Variable interest rate
Effective 9 August 2022
Unsecured Loan                                      General Commercial Security
                                                                   from
13.08
%
p.a.
Variable interest rate
Effective 9 August 2022

5.99
%
p.a.
Variable interest rate
Effective 9 August 2022

Why us?

Sustainability

Kick ESG goals by borrowing from a bank with a clear commitment to sustainability. 

Shared values

Rest assured that we never, ever support industries that do harm, like fossil fuels or animal exports.

Flexible repayments

Manage your cash flow and take control of business finances with more flexibility around repayments.

Who it's for

  • Sole traders
  • Partnerships
  • Pty Ltd and public companies

Business rates and fees

What it’s for

If you’re waiting for customers to pay you, a commercial overdraft can help with cash flow to cover business expenses, equipment purchases, and more. 

What you get

"It was so simple to set up my business accounts with Bank Australia. Great customer service and product knowledge"
Erin, Bank Australia business customer
See more on Productreview.com.au

Purpose

You can use the overdraft for any business or commercial purpose.

Easy access options

Link the overdraft to our Commercial Access transaction account for an easier way to manage your money.

Flexible repayment options

Rather than fixed payment terms, eligible customers can repay when there's money available.

One-off establishment fee

Minimum of $100, the fee is calculated at 0.50% of the overdraft amount.

‍

The clean money movement


Together with our customers, we are reinventing capitalism and writing a new narrative. Money beyond self-interest. Money that makes the world better and regenerates ecosystems that protect people and the planet. We call it clean money.

By doing your business banking with us, you’re stepping up to join the clean money movement, too.

Read more

Fees and charges

Here’s what to expect with our Commercial Overdraft:
What it's for
Amount
Establishment fee (% of loan amount)
0.5% (min. $100)
Overdraft admin fee
$24 annually

It pays to know. Please read the Product Disclosure Document and see all fees and charges before deciding if this account is right for you. See all rates and fees.

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The fine print

General advice warning: In providing you with this information you should consider the appropriateness of this advice with regards to your particular financial situation and needs. You should consult the Product Disclosure Documents before making a decision to apply for products with Bank Australia.

Bank Australia is committed to delivering memorable and superior service to all customers. We welcome your feedback, compliments and/or complaints about our performance.

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