Petrol Station Loan
A loan to assist with the purchase of a new petrol or service station, or provide existing owners the opportunity to borrow against the value of an existing station to fund a new business venture.
Fees
| Fee | Type | Amount |
|---|---|---|
| Application Fee Standard minimum is 0.35% of the approved borrowed amount. Fee rate varies depending on borrower's application. | Upfront | |
| Transfer Fee Payable if the Customer asks the Bank to change the security property by releasing its security over some or all of the security property and taking security over different property, without any other amendments to the agreement. It does not include any solicitor costs or fees payable to a government registry to register a document. | Event | |
| Search Fee Per hour or part thereof - payable whenever the Customer (or a Guarantor) requests a copy of a document (other than a statement) connected to the Facility. It is calculated on the basis of the time that it takes the Bank’s staff to search for the document. | Transaction | |
| Direct Debit Dishonour Fee Payable whenever a direct debit to the Customer’s loan account is dishonoured. | Event | |
| Tenanted Security Report Fee Per hour or part thereof - payable when the security property is to be the place of residence of the Customer and the Bank ascertains by inspection (because the Customer did not tell the Bank) that the Customer no longer occupies the security property. It is calculated on the basis of the time that it takes the Bank’s staff or agents to inspect the security property. | Event | |
| Deed Production Fee Payable by the Customer whenever the Bank is required to produce a document to a government registry. It does not include any solicitor costs or fees payable to a government registry to register a document |
Features
- • Competitive interest rate • Fast approval with a low establishment fee • Flexible repayments including the options of Principle and Interest or Interest Only repayments • Make additional repayments at no charge to help you pay off your loan sooner • No early repayment fees or fees for making a lump sum payment to your loan. There are also no minimum or maximum limits set on the size of the lump sum payment you can make • Competitive interest rate • Fast approval with a low establishment fee • Flexible repayments including the options of Principle and Interest or Interest Only repayments • Make additional repayments at no charge to help you pay off your loan sooner • No early repayment fees or fees for making a lump sum payment to your loan. There are also no minimum or maximum limits set on the size of the lump sum payment you can make
- Digital banking
- For information on applicable rates, please contact our Relationship Managers. Contact details are found on the following link:
Eligibility
- All applications for loans are subject to Arab Bank Australia Limited's normal credit approval criteria. Lender's Mortgage Insurance is required on loans above 80% of the property value that is offered as security.
More Information
Published by Arab Bank Australia Limited under the Consumer Data Right · Last updated 1 October 2024 · Product ID PETROL01 · View on CDR.gov.au · View Source Data (JSON)