Business Essentials Unsecured Overdraft
Access extra cash when you need it, right from your Business Everyday Account.
With a Business Overdraft facility, you'll only pay interest on what you use and for the days on which you've used your overdraft.
Interest is calculated using Suncorp Bank's Overdraft Reference Rate, plus a customer margin.
Interest is charged to the account monthly.
There is no set principal repayment amount.
There is no fixed term.
Rates and Fees
Business Essentials Overdraft
|Loan Type||Rate p.a.|
|Business Essentials Overdraft||14.05% p.a.|
Interest Rates effective 24 August 2016.
See your credit contract for details as to the Reference Rate and any margin which applies to your existing credit contract.
The above facilities are available to approved applicants only. Terms, conditions, fees and charges apply and are available on request. The interest rates above do not apply to facilities regulated by the National Credit Code. Please ask us for details of rates applying to regulated Small Business facilities. Rates are subject to change
|Quarterly Unsecured Overdraft Service Fee|
$20 per quarter.
Other fees and charges may apply to your Business Everyday Account.
How to Apply for a Business Essentials Unsecured Overdraft
1. Simply download the Business Essentials Unsecured Overdraft Application Form
2. Complete, and then print it out.
3. Deliver this form to your nearest Suncorp Bank branch.
You must own a business and have a registered ABN
You must be able to prove 'satisfactory conduct' on all bank accounts over the most recent available 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 disonours or returned payments
If you are new to Suncorp Bank, copies of your most recent available 6 months of bank statements for business and personal accounts held at another bank need to be provided with your application
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 Everyday Account over a recent short period
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
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
Things you should know
Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No: 229882 (“Suncorp Bank”). All products are available to approved applicants only. Terms and conditions apply and are available on request. Fees and charges apply. Please read the applicable Product Information Document before making any decisions about a product. Contact us for a copy on 13 11 75.^The interest rate displayed is the current standard interest rate for the Suncorp Clear Options Business Credit Cards. The Cash Advance Rate is currently 19.45% p.a. Rates are subject to change. Citigroup is the credit provider and issuer of Suncorp Clear Options Credit Cards. Suncorp Bank promotes and distributes Suncorp Clear Options 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). ¹VISA Debit cards are not available to overseas residents, accounts where the number to sign to operate is two or more (no form of card access is allowed) or minors. VISA Debit cards can only be issued in the name of individuals, it cannot be issued in a business name. Only one VISA Debit card per primary savings account permitted.*To approved applicants only. Approval is at the sole and absolute discretion of Suncorp Bank and other criteria may apply. Excluded borrowers include overseas residents; organisations/ associations / not for profit and co-operatives with limited recourse; primary producers; proprietary companies with one or more corporate shareholders; and unit trusts, superannuation trusts, bare trusts and any trust with one or more corporate beneficiaries. Applications must be received direct - not via a third party. Suncorp Bank reserves the right to decline applications from businesses operating in unacceptable industries – a list of these is available. Contact our Business Contact Centre on 13 11 75.