With competitive rates from 14.95% p.a. and a straightforward $30 monthly fee, Great Southern Bank's Business+ Unsecured Overdraft is a good fit for small and medium-sized businesses who need financial flexibility without the risk of securing assets. It offers up to $50k in overdraft limits, perfect for businesses needing to control their cash flow or cover unexpected expenses. The ease of access through the Business+ app, not to mention the quick, 20-minute online application process, makes it perfect for business owners who are on the move.
Great Southern Bank's Business+ Unsecured Overdraft is designed to give SMEs the financial boost they need, without the traditional constraints. Here's what stands out:
Competitive rates. Rates start at variable 14.95% p.a., which is competitive for this type of product.
Flat monthly fee. Most other lenders charge a monthly fee equal to a percentage of your full credit line, but Great Southern Bank makes it simple (and often cheaper) with a flat $30 monthly fee.
Unsecured financing. Access up to $50,000 without the need to put up your assets as collateral.
Digital access. The Business+ app makes managing your finances a breeze.
Flexible repayments. Interest is only charged on the balance, not the limit, making it a cost-effective option.
Simple application. A straightforward, 20-minute online application process means you can focus more on your business and less on paperwork.
With these features, Great Southern Bank's Business+ Unsecured Overdraft is a compelling choice for, offering both flexibility and control.
Great Southern Bank's Business+ Unsecured Overdraft is a savvy choice for SMEs prioritising competitive rates alongside the convenience of digital banking.
The $495 establishment fee is a bit on the high side. The flat $30 monthly fee is competitive for credit lines of about $20k or more. However, for smaller credit lines, this fee might be less appealing compared to options that charge a fee based on a percentage of the credit line.
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14.95% p.a. |
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n/a |
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$495 |
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$30 per month |
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$0.00 |
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$0 |
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$0 |
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n/a |
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flexible |
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none |
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none |
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Example cost figure provides indicative minimum total repayments over 6 months on a $10,000 loan. Actual costs will vary depending on individual risk score as assessed by the lender.
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Business Overdraft
10.72% p.a. Business Overdraft Prime Rate
not disclosed
Negotiable
