IMB Bank Fully Drawn Business Loan (Residentially secured)

Rates

• Rate type

  variable

• Variable rate

  4.59% p.a.Residential security rate

• Fixed 1 year rate

  none

• Fixed 2 year rate

  none

• Fixed 3 year rate

  none

• Fixed 4 year rate

  none

• Fixed 5 year rate

  none

• Fixed 6 year rate

  none

• Fixed 7 year rate

  none

Fees

• Upfront fee

  0.50%

• Ongoing fees

  $30 per month

• Late payment fee

  $0.00

• Exit fee

  not disclosed

• Early repayment penalty

  2 months of interest at original loan rate within the first 3 years

• Transaction fee

  not disclosed

Features

• Repayment frequency

  weekly, fortnightly, monthly

• Repayment types

  interest only, principal and interest

• Extra repayments allowed

  yes, up to 25% of original loan amount in 1st 3 yrs without penalty

• Redraw allowed

  yes

• Card access

  no

• Cheque access

  no

• Other benefits

  none

• Other restrictions

  none