Business Overdraft

Manage your short-term cash flow, unexpected expenses, or simply have access to extra credit when you need it.

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.

Key features

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.

Interest rates

Fees

Secured:

Establishment Fee: Determined at application based on the approved Business Overdraft limit.

Ongoing Fee:

Establishment Fee: Determined at application based on the approved Business Overdraft limit.

Ongoing Fee:

Facility Fee

Determined on the approved overdraft limit and charged quarterly in arrears.

≤$100,000

$100,001 ≤ $250,000

$250,001 ≤ $500,000

>$500,000

$150 per quarter

$300 per quarter

$500 per quarter

0.75% per annum of your overdraft limit or as outlined in your Credit Contract or Letter of Offer.

The Overdraft Fee may change where you request a change to your Overdraft Limit.

Unsecured: Quarterly Service Fee: $20 per quarter.

Please note other fees and charges apply. Please call us on 13 11 55 for more information.

Secured Overdraft

To be eligible for a Secured Overdraft you must have a property or equity in a property that can be offered as security for your Overdraft. You will also need to provide a fully documented application which is subject to credit approval. Please contact us on 13 11 55 for information and assistance regarding the application process.

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)

e) no evidence of dishonours or returned payments

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)
Are able to show deposits totalling $10,000 in the Business Account over a recent short period

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

Considering a Business Overdraft and want to save on fees?

The Business Ready Package is designed to help customers combining a Business Overdraft with other Suncorp business loans to reduce their ongoing facility fees.

The package combines a Business Premium Transaction Account with an overdraft facility and up to three business loans.

A single package fee covers all facilities included in the package and provides a rebate on eligible loan account keeping or account maintenance fees and the overdraft facility fee.

Please call us on 13 11 55 for more information.

Lending Fees and Charges

For more details about lending fees and charges download the relevant document.
Small Business
Commercial Business
Agribusiness

Ready to apply?

Secured Overdraft

Enquire online

Unsecured Overdraft

Please download and complete the Unsecured Overdraft Application Form and deliver it to your nearest branch for assessment.

Application form

Or call us on 13 11 55 or visit your nearest branch

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).