Business Plus Overdraft
OverdraftsData Sharing Status
A line of credit linked to your business account, giving you easy access to funds, up to an agreed amount, to cover your cash flow needs.
- From
- 10.29%
- Variable
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable Secured by residential security. | 10.29% | — | — |
| Variable Secured by Non-Residential Security. | 11.29% | — | — |
Fees
| Fee | Type | Amount |
|---|---|---|
| Loan Establishment Fee Mortgage establishment, Mortgage extension and Guarantee establishment fees are also payable, valuations and legal service work such as mortgage preparation charged at cost. | Upfront | $800.00 |
| Overdraft Facility Fee Charged monthly | Ongoing | $8.00 |
| Contract Variation/Consent Fee | Event | $300.00 |
| Mortgage Discharge Fee | Transaction | $250.00 |
| QuickDebit Dishonour Fee | Event | $15.00 |
Features
- Digital banking
- Open accounts, check balances, view transactions, transfer funds, schedule payments, BPAY, eStatements, SMS alerts, activate cards, change card PIN, mark card lost or stolen, loan redraw, loan status update, accept loan contracts and send secure messages.
- Guarantor supported
- Notifications — Event based notifications.
- Real-time payments (NPP)
- PayID
- Set up a pay ID to receive lightning fast payments.
- Save on paper, receive and view your statements online with eStatements.
Eligibility
- Business customersOnly a business may apply for the account.
- Minimum age — 18 yearsMinimum age applies to Sole Traders.
- Lending criteria apply.
- Residency status — A Permanent Australian Resident including those working overseas. Borrowing entities must be a Permanent Resident of Australia
Constraints
- Minimum limit — $1,000.00
More Information
Published by Summerland Bank under the Consumer Data Right · Last updated 27 June 2026 · Product ID 63 · View on CDR.gov.au