Overdrafts
The overdraft facility is an optional feature of the BOQ Specialist One account. The facility can help you to manage your cash flow, particularly when paying for practice expenses. It can give you an unsecured line of credit and you don't have to use your personal property as security. You only pay interest on what you use, not on the entire credit limit.
- From
- 8.6%
- Variable
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable | 8.6% | — | — |
| Variable Optional overdraft with an unsecured line of credit. You only pay interest on what you use not on the entire credit limit, and you don’t have to use your property as security | 14.69% | — | — |
Fees
| Fee | Type | Amount |
|---|---|---|
| Optional Overdraft Facility Application Fee If your Overdraft is approved and established, the Application Fee will be debited from your Account | Upfront | $495.00 |
Features
- Overdraft available
- Optional overdraft with a secured or unsecured line of credit.
- Integration with accounting software such as MYOB, Xero and Banklink, allowing you to easily manage your practice cash flow.
- Only pay interest on what you use, not the entire amount. No set repayments, you only pay interest on the funds you have used, there are no charges on any credit you don't use
- Interest Only payments with terms up to 30 years
- Access to additional money to use as and when you need it. Additional funds can be accessed like you normally would - by withdrawing cash at ATMs and making purchases using your BOQ Specialist debit card. You can also continue to transfer from your account through internet banking and the BOQ Specialist mobile banking app.
- Earn a competitive rate of interest on account credit balances.
- For a secured line of credit, you could access up to $100,000, and for an unsecured line of credit, you could access up to $500,000 without using your personal property as security.
Eligibility
- Residency status — Resident or Citizen
- Minimum age — 18 years
- Exclusively available to medical professionals and accountants
More Information
Published by BOQ Specialist under the Consumer Data Right · Last updated 7 May 2026 · Product ID 31186288-5c03-ee11-8f6e-00224814dce7 · View on CDR.gov.au