Which Australian bank offers the lowest interest rates under the business overdrafts - 02.09.2019

Bankchart.com.au has surveyed the terms of the offered business overdrafts for 1 year in the national currency. Our website's analysts have studied the loan offers from all Australian banks. Review date - 02.09.2019

As of 27 August 2019 the loans under review have been offered by 12 banks.  The average interest rate under such loans equals 8,53 % p.a. The total number of the loan programs available for the specified loan terms is 23.

The most affordable business loan is offered by Bank Australia. The comparison rate under "Commercial Overdraft - Residential Security" loan program constitutes 5,09 % 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-12 business overdrafts loan programs for 1 year, as of 27 August 2019

#

Bank

Interest Rate, %

1

5,09

interest rate, %

rate type

variable

approval fee

$ 295,00

administration

$ 12,50, monthly

2

5,44

interest rate, %

rate type

variable

facility fee

$ 30,00, monthly

3

5,65

interest rate, %

rate type

variable

facility fee

$ 250,00, every 3 months

4

5,92

interest rate, %

rate type

variable

5

6,26

interest rate, %

rate type

variable

6

6,38

interest rate, %

rate type

variable

7

7,05

interest rate, %

rate type

variable

administration

$ 20,00, every 3 months

8

8,01

interest rate, %

rate type

variable

approval fee

0,75%

9

8,71

interest rate, %

rate type

variable

max. sum

$ 50 000,00

10

9,80

interest rate, %

rate type

variable

11

10,33

interest rate, %

rate type

variable

approval fee

0,40%

12

14,25

interest rate, %

rate type

variable

facility fee

1,75%, one-time

max. sum

$ 50 000,00

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