Which Australian bank offers the lowest interest rates under the short term business loans for 1 year08.04.2020

Bankchart.com.au has surveyed the terms of the offered short term business loans for 1 year in the national currency. Our website's analysts have studied the loan offers from all Australian banks. Review date - 08.04.2020

As of 25 March 2020 the loans under review have been offered by 4 banks.  The average interest rate under such loans equals 4,41 % p.a. The total number of the loan programs available for the specified loan terms is 6.

The most affordable business loan is offered by Heritage Bank. The comparison rate under "Fully Drawn Loan fixed (Residential Security - 1 year)" loan program constitutes 3,90 % 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-4 short term business loans loan programs for 1 year, as of 25 March 2020

#

Bank

Interest Rate, %

1

3,90

interest rate, %

rate type

fixed

administration

$ 20,00, monthly

2

4,05

interest rate, %

rate type

fixed

3

4,49

interest rate, %

rate type

fixed

approval fee

$ 595,00

administration

$ 150,00, one-time

4

4,49

interest rate, %

rate type

fixed

approval fee

0,75%

facility fee

$ 25,00, monthly

To view the up-to-date rating of the home loans at our website, click here.

 

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