Overdraft on your Cheque Account
Help your cash flow
An Overdraft can be attached to your cheque account. This will help with cash flow because the account can be drawn down to an approved limit.
The overdraft has:
- Easy access because it's attached to your business cheque account
- Interest calculated daily and only on the outstanding balance
- No set monthly repayment.
| Feature |
Description |
| Amount |
No minimum or maximum. |
| Interest rate |
Interest is calculated using Suncorp's Base variable rate or Suncorp's 30 Day Bank Bill rate plus a customer margin. Interest is charged to the account monthly. |
| Repayment option |
No set principal repayment amount |
| Terms |
There is no set term, accounts are reviewed yearly. |
| Security |
Many forms of security may be accepted including residential, commercial or rural property, business assets or a combination of these. |
| Access |
Access available via Cheque, card or Internet Banking. |
Fees
| Item |
Description |
| Establishment Fees |
Fee varies with each application ($750 minimum). For more information contact your business manager. |
| Quarterly Maintenance Fee |
0.75%p.a. of Overdraft Limit (minimum charge $150 per quarter) |
| Other fees |
Other fees and charges apply. Please contact you Business Banking Manager on 1300 65 11 25 for more information. |
