Commercial Variable - Residentially Secured IO
Apply to pay interest only for up to 5 years of the total term on your business loan.
- From
- 7.25%
- Variable
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable | 7.25% | — | — |
Fees
| Fee | Type | Amount |
|---|---|---|
| Account Information Fee Account informaton fee is payable when customer request the following: - An annual audit certificate on a Great Southern Bank account - A copy of a cheque or Visa voucher - Personal information, traces, document copies (other than those specified above) and/or information pertaining to an account Where further investigation is required an additional hourly rate of $20 per hour will apply. An estimate of the costs involved will be provided prior to the work being undertaken. | Event | $20.00 |
| Arrears Letter Fee Payable where Great Southern Bank sends you a letter in relation to arrears on your account. | Event | $22.00 |
| Default Notice Fee Default notice fee is payable where Great Southern Bank sends you a default notice in relation to outstanding arrears on your account. | Event | $33.00 |
| Early Payout Cost (EPC) When you enter into a fixed rate loan contract, you are effectively locking in the loan interest rate offered to you for an agreed period of time (e.g. 5 years). If you decide to switch or payout your fixed rate loan before the end of your agreed period, you are effectively breaking that fixed rate loan agreement, an EPC that could cost you thousands of dollars may apply. Please refer to our ‘Early Payout Cost Factsheet’ for more information. Contracts entered into prior to 28 September 2021, the amount is referred to as an Early Payout Fee. | Event | Variable |
Features
- $0 Monthly or annual fees.
- Redraw facility
- Need your extra repayments? No worries! All of our business loans come with free redraw. A $200 minimum withdrawal amount applies for redraws conducted in-branch.
- Flexible loan options. During the overall term you can choose a variable rate or fix the interest rate for 1, 2, 3 or 5 years as many times as you like. Or apply for an interest only period of up to 5 years at any time. Your loan account number always stays the same. An early payout cost may apply if a fixed loan is terminated during the fixed rate period.
- Split Loan alternative. You can request us to split your new business loan - a portion on a fixed rate and the remainder at a variable rate or two different fixed rates.
- Longer loan terms = lower repayments. Eligible customers can request an overall term of up to 30 years for loans secured by qualifying residential property or up to 25 years with suitable commercial property security. The term of the loan will be subject to relevant credit criteria, eligibility, terms and conditions, and will vary according to the loan amount, type and location of the security provided.
- Choose your security. Secure your loan with residential or commercial property. Or combine with a home loan and use your home equity.
Eligibility
- Residency status — All individuals, directors, guarantors, trustees, members must be an Australian Resident.
- Applications for Business Loans are subject to credit approval. Property offered as security must be acceptable within policy.
- Business customersLoan purpose must be business related.
- Business customersApplicant/s Guarantors must be a legal entity registered within Australia.
- Minimum age — 18 yearsAll individuals, directors, guarantors, trustees, members must be 18+ yrs.
Constraints
- Minimum limit — $20,000.00
- Minimum LVR — 1%Min LVR for Business Loan products is 1%
- Maximum LVR — 80%Max LVR for Business Loan products is 80%
- Maximum limit — $5,000,000.00
More Information
Published by Great Southern Bank under the Consumer Data Right · Last updated 26 May 2026 · Product ID 5400-3009 · View on CDR.gov.au