3,75 % p.a. is the minimum interest rate under the business overdrafts09.10.2020

Bankchart.com.au has surveyed the terms of the offered business overdrafts for termless in the national currency. Our website's analysts have studied the loan offers from all Australian banks. Review date - 09.10.2020

As of 29 September 2020 the loans under review have been offered by 5 banks.  The average interest rate under such loans equals 6,79 % p.a. The total number of the loan programs available for the specified loan terms is 10.

The most affordable business loan is offered by Heritage Bank. The comparison rate under "Overdraft Facilities - Residential Security" loan program constitutes 3,75 % p.a. The table below shows the best offers by each bank selected by Bankchart.com.au (in terms of costs) for the aforementioned terms.

The TOP-5 business overdrafts loan programs for termless, as of 29 September 2020

#

Bank

Interest Rate, %

1

3,75

interest rate, %

rate type

variable

facility fee

$ 30,00, monthly

2

3,86

interest rate, %

rate type

variable

3

4,59

interest rate, %

rate type

variable

facility fee

$ 40,00, fortnightly

4

4,84

interest rate, %

rate type

variable

approval fee

$ 295,00

administration

$ 12,50, monthly

5

11,99

interest rate, %

rate type

variable

administration

$ 20,00, every 3 months

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