Business Lending General Terms and Conditions


The Business Lending General Terms and Conditions only apply to Business Lending Letters of Offer and Letters of Variation issued from 14 August 2023 and it will be specified on the first page of your Letter of Offer and/or Letter of Variation.

The current Business Lending General Terms and Conditions that are available online are the latest version which apply to your account and supersede any previous version that we may have provided to you.

Current Terms and Conditions

Effective: 12 February 2024

View the current terms & conditions

What's changed in the terms and conditions as of 12 February 2024

Clause 10.9 page 18

  • Restructuring of the cancellation options: In the initial text, the options to cancel the Facility were listed as (b) and (c). In the revised text, these have been relabelled as (a) and (b), respectively.
  • Removal of a condition for cancellation: The original text stated that if you cancel the Facility due to a change that adversely affects you, you will not be required to pay early cancellation costs, provided certain conditions are met (such as notifying before the change takes effect and having a non-fixed Facility Interest Rate). The revised text simplifies this by stating that you can cancel the Facility without penalty if you inform them before the change takes effect, specifically during a Fixed Rate Period.
  • Clarification of the context for cancellation: The revised version adds a specific context — "during a Fixed Rate Period" — for when the option to cancel the Facility without penalty is applicable. This detail was not explicitly mentioned in the initial text.
  • Minor Formatting Changes: The formatting of the list of actions you can take to cancel the Facility has been slightly altered for clarity, with the options now clearly marked as (a) and (b).
  • Simplification of Language: The revised text is more straightforward and easier to understand, removing some of the more complex structures of the previous version.


If you would like us to send you a paper copy or an electronic copy of the documents below, please phone us on 13 11 75.