Why choose a Business Overdraft?
A Suncorp Business Overdraft allows you to have access to an approved amount of credit when all of the funds in your linked transaction account are exhausted. Suitable for small or large businesses, it’s an ideal facility to help manage seasonal cash flow fluctuations, the purchase of new stock, or to finance short-term working capital. Interest is only charged on the portion of the overdraft that is used and with no set principal repayments. You can minimise your repayments until your cash flow allows you to start repaying the balance. We offer both secured and unsecured overdrafts.
- Interest rate type: Variable
- Repayment type: Interest is charged on the portion of the overdraft that is used, no set principal repayments
- Term: Ongoing limit, no fixed term
- Security: Secured and unsecured options available.
Agribusiness: Rates available by speaking with an Agribusiness Specialist. Please call us on 13 11 75 for more information.
Commercial Business: Rates available by speaking with a Business Banking Specialist. Please call us on 13 11 75 for more information.
Small Business: Rates available by speaking with a Business Banking Specialist. Please call us on 13 11 75 for more information.
Secured: Fees vary with each application and approved limit
Unsecured: Quarterly Unsecured Overdraft Service Fee: $20 per quarter
Please note other fees and charges apply. Please call us on 13 11 75 for more information.
Unsecured Overdraft (Small businesses only)
- You must own a business and have a registered ABN
- You must be able to prove 'satisfactory conduct' on all bank accounts over the last 6 months for all existing Suncorp Bank accounts and loans for the business and principals (for example):
a) all loans/accounts are currently in order
b) there was no more than one late payment (30 days or more past due)
c) the facility was not outside approved arrangements, (including any approved temporary excess) for 7 days or greater more than once.
d) no penalty interest or late fees have been charged (unless in relation to b and c above)
- If you are new to Suncorp Bank, copies of your last 6 months of bank statements for business and personal accounts held at another bank need to be provided with your application
For a Start Up Facility $2,500 Limit
- Can provide suitable evidence of stable employment (long term PAYG or self-employment)
For a Helping Hand Facility $5,000 Limit
- Must own the business that has been established for 2 years or more and the business is currently registered for GST
For a Booster Facility $10,000 Limit
- Must have owned the business for 2 years or more and the business has been established and registered for GST for 2 years or more
Business Lending Products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence number 229882 (“Suncorp Bank”). To approved applicants only. Fees, charges, terms and conditions apply and are available on request. Citigroup Pty Limited ABN 88 004 325 080, AFSL No. 238098, Australian Credit Licence 238098 (“Citigroup”) is the credit provider and issuer of Suncorp Clear Options Business Credit Cards. Suncorp Bank promotes and distributes Suncorp Clear Options Business Credit Cards on Citigroup’s behalf under an agreement with Citigroup. Suncorp Bank will not guarantee or otherwise support Citigroup’s obligations under the contracts or agreements connected with the Credit Cards (other than those relating to Suncorp Bank internet banking and telephone banking).