|
|
An overdraft facility is a flexible line of credit providing access to funds to manage the day to day cash flow needs of a business. It is designed for business with short-term working capital requirements, to fund operational needs to an agreed amount.
How Can it Help You?
- Manage the seasonal cash flow requirements of your business cycle
- Access your account, pay bills and transfer money online without leaving your home or office
Details
Limit amount
|
Minimum limit amount $50,000
No set maximum limit
|
|
Term
|
No set term (however this facility is repayable on demand)
|
|
Interest rate
|
Residential security: the Residential Equity Rate (RER) + or - client margin
Other security: Overdraft Index Rate + or - client margin depending on your credit risk rating
|
Interest charging cycle
|
Interest is charged on the first business day of each month
|
Repayment
|
Provided the account balance fluctuates within the limit, no formal repayment arrangements need to be established. Overdrafts are subject to annual review
|
Establishment fee
|
Scale establishment fee applies and is calculated on the full Facility limit
|
Overdraft line fee
|
Scale Overdraft Line Fee applies
|
Transaction capabilities
|
Full transactional capabilities. For example, you may transfer, withdraw or deposit funds
|
Access options
|
- ATM
- Cheque book
- Branch
- Online (NetBank, CommBiz)
|
Security |
Facility need to be secured to the bank's satisfaction
|
Enquire Now
|
|