Compare Business Banking Packages

By Mozo · Thursday, 4 January 2018

It's important for a small business to establish a relationship with a bank, as you may one day want to ask for a business loan or demand a mates rate on fees.

While one institution is unlikely to have the best possible deal for every small business bank product, you could win out in the end by taking out a small business package encompassing business bank accounts, business savings account products, business credit cards and more.

Page last updated November 21, 2020

Business Loans Comparison Table - rates updated dailyMozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.

Search promoted business loans below or do a full Mozo database search. Advertiser disclosure.

Heritage Bank
About Heritage Bank
Fully Drawn Loan
Heritage Banks Fully Drawn Business Loan is a good option for most business needs such as purchasing a property, buying a business or longer term working capital requirements.
Interest Rate
2.95% p.a. variable
Upfront Fee
Negotiable
Funding speed
Varies
Go to site
Details
Fully Drawn Loan
Heritage Banks Fully Drawn Business Loan is a good option for most business needs such as purchasing a property, buying a business or longer term working capital requirements.
Interest Rate
2.95% p.a. variable
Upfront Fee
Negotiable
Ongoing Fees
$20 monthly
Late payment fee
$0.00
Transaction fee
-
Early repayment penalty
$0
Other fees
-
Loan type
Loan
Security type
Secured
Minimum loan amount
$20,000
Maximum loan amount
-
Minimum loan term
-
Maximum loan term
-
Repayment frequency
Weekly, Fortnightly, Monthly
Repayment types
interest only, principal and interest
Minimum trading period
Varies
Minimum annual turnover
Varies
Application speed
Varies
Approval speed
Varies
Funding speed
Varies
Extra repayments allowed
yes
Redraw allowed
yes - with $20 fee
Other benefits
-
Other restrictions
Residential Security Interest Rate. A break fee applies to fixed term loans if broken early.
Read our Mozo Review to learn more about the Fully Drawn Loan
Go to site
Heritage Bank
About Heritage Bank
Fully Drawn Loan
Heritage Banks Fully Drawn Business Loan is a good option for most business needs such as purchasing a property, buying a business or longer term working capital requirements.
Interest Rate
2.95% p.a. variable
Upfront Fee
Negotiable
Funding speed
Varies
Go to site
Fully Drawn Loan
Heritage Banks Fully Drawn Business Loan is a good option for most business needs such as purchasing a property, buying a business or longer term working capital requirements.
Interest Rate
2.95% p.a. variable
Upfront Fee
Negotiable
Ongoing Fees
$20 monthly
Late payment fee
$0.00
Transaction fee
-
Early repayment penalty
$0
Other fees
-
Loan type
Loan
Security type
Secured
Minimum loan amount
$20,000
Maximum loan amount
-
Minimum loan term
-
Maximum loan term
-
Repayment frequency
Weekly, Fortnightly, Monthly
Repayment types
interest only, principal and interest
Minimum trading period
Varies
Minimum annual turnover
Varies
Application speed
Varies
Approval speed
Varies
Funding speed
Varies
Extra repayments allowed
yes
Redraw allowed
yes - with $20 fee
Other benefits
-
Other restrictions
Residential Security Interest Rate. A break fee applies to fixed term loans if broken early.
Read our Mozo Review to learn more about the Fully Drawn Loan
Go to site
Details
Timelio
About Timelio
Invoice Finance
Get your customer invoices paid early, without waiting up to 90 days for payment. Apply online in 10 minutes and select your local or overseas invoices to fund. Flexible funding with no lock-in contract.
Interest Rate
On Application
Upfront Fee
$0.00
Funding speed
24 hours
Go to site
Details
Invoice Finance
Get your customer invoices paid early, without waiting up to 90 days for payment. Apply online in 10 minutes and select your local or overseas invoices to fund. Flexible funding with no lock-in contract.
Interest Rate
On Application
Upfront Fee
$0.00
Ongoing Fees
$0.00
Late payment fee
$0.00
Transaction fee
On Application
Early repayment penalty
$0.00
Other fees
-
Loan type
Line of Credit
Security type
Secured
Minimum loan amount
$10,000
Maximum loan amount
$100,000,000
Minimum loan term
0 years
Maximum loan term
4 months
Repayment frequency
-
Repayment types
-
Minimum trading period
0 years
Minimum annual turnover
$0
Application speed
10 Minutes
Approval speed
24 hours
Funding speed
24 hours
Extra repayments allowed
yes
Redraw allowed
yes
Other benefits
No lock in contract, flexible funding drawdowns, international invoices, trade finance
Other restrictions
-
Go to site
Timelio
About Timelio
Invoice Finance
Get your customer invoices paid early, without waiting up to 90 days for payment. Apply online in 10 minutes and select your local or overseas invoices to fund. Flexible funding with no lock-in contract.
Interest Rate
On Application
Upfront Fee
$0.00
Funding speed
24 hours
Go to site
Invoice Finance
Get your customer invoices paid early, without waiting up to 90 days for payment. Apply online in 10 minutes and select your local or overseas invoices to fund. Flexible funding with no lock-in contract.
Interest Rate
On Application
Upfront Fee
$0.00
Ongoing Fees
$0.00
Late payment fee
$0.00
Transaction fee
On Application
Early repayment penalty
$0.00
Other fees
-
Loan type
Line of Credit
Security type
Secured
Minimum loan amount
$10,000
Maximum loan amount
$100,000,000
Minimum loan term
0 years
Maximum loan term
4 months
Repayment frequency
-
Repayment types
-
Minimum trading period
0 years
Minimum annual turnover
$0
Application speed
10 Minutes
Approval speed
24 hours
Funding speed
24 hours
Extra repayments allowed
yes
Redraw allowed
yes
Other benefits
No lock in contract, flexible funding drawdowns, international invoices, trade finance
Other restrictions
-
Go to site
Details
Hot DealNo repayments on loans for the first 8 weeks (T&Cs apply, offer ends 31st December)
Prospa
About Prospa
Business Loan
Business loans available from $5K to $300K and funding possible in 24 hours. Prospa uses risk-based pricing to determine your interest rate, which can range from 14.95% p.a. to 24.95% p.a. They look at factors including your industry, years in business, cash flow, creditworthiness and the overall financial health of your business.
Interest Rate
Interest rates vary based on risk. Rates range from 14.95% to 24.95% p.a.
Upfront Fee
3%
Funding speed
from 24 hours
Go to site
Details
Business Loan
Business loans available from $5K to $300K and funding possible in 24 hours. Prospa uses risk-based pricing to determine your interest rate, which can range from 14.95% p.a. to 24.95% p.a. They look at factors including your industry, years in business, cash flow, creditworthiness and the overall financial health of your business.
Interest Rate
Interest rates vary based on risk. Rates range from 14.95% to 24.95% p.a.
Upfront Fee
3%
Ongoing Fees
$0.00
Late payment fee
$0.00
Transaction fee
-
Early repayment penalty
$0.00
Other fees
-
Loan type
Loan
Security type
Secured
Minimum loan amount
$5,000
Maximum loan amount
$300,000
Minimum loan term
3 months
Maximum loan term
3 years
Repayment frequency
Weekly
Repayment types
Principal & Interest
Minimum trading period
1 year
Minimum annual turnover
$72,000
Application speed
10 Minutes
Approval speed
Same-day approval
Funding speed
from 24 hours
Extra repayments allowed
yes
Redraw allowed
no
Other benefits
No repayments for the first 8 weeks offer available for new or refinanced business loans settled by the 31 December 2020. Interest will accrue in this period and the total repayment term will be extended.
Other restrictions
-
Go to site
Prospa
About Prospa
Business Loan
Business loans available from $5K to $300K and funding possible in 24 hours. Prospa uses risk-based pricing to determine your interest rate, which can range from 14.95% p.a. to 24.95% p.a. They look at factors including your industry, years in business, cash flow, creditworthiness and the overall financial health of your business.
Interest Rate
Interest rates vary based on risk. Rates range from 14.95% to 24.95% p.a.
Upfront Fee
3%
Funding speed
from 24 hours
Go to site
Business Loan
Business loans available from $5K to $300K and funding possible in 24 hours. Prospa uses risk-based pricing to determine your interest rate, which can range from 14.95% p.a. to 24.95% p.a. They look at factors including your industry, years in business, cash flow, creditworthiness and the overall financial health of your business.
Interest Rate
Interest rates vary based on risk. Rates range from 14.95% to 24.95% p.a.
Upfront Fee
3%
Ongoing Fees
$0.00
Late payment fee
$0.00
Transaction fee
-
Early repayment penalty
$0.00
Other fees
-
Loan type
Loan
Security type
Secured
Minimum loan amount
$5,000
Maximum loan amount
$300,000
Minimum loan term
3 months
Maximum loan term
3 years
Repayment frequency
Weekly
Repayment types
Principal & Interest
Minimum trading period
1 year
Minimum annual turnover
$72,000
Application speed
10 Minutes
Approval speed
Same-day approval
Funding speed
from 24 hours
Extra repayments allowed
yes
Redraw allowed
no
Other benefits
No repayments for the first 8 weeks offer available for new or refinanced business loans settled by the 31 December 2020. Interest will accrue in this period and the total repayment term will be extended.
Other restrictions
-
Go to site
Details
ScotPac
About ScotPac
Invoice Finance
Leave property out of the equation with ScotPac's Invoice Finance solution. Receive up to 85% of your debtors ledger with facilities ranging from $200K to over $100Mil.
Interest Rate
from 6.00% p.a.
Upfront Fee
On Application
Funding speed
from 24 hours
Go to site
Details
Invoice Finance
Leave property out of the equation with ScotPac's Invoice Finance solution. Receive up to 85% of your debtors ledger with facilities ranging from $200K to over $100Mil.
Interest Rate
from 6.00% p.a.
Upfront Fee
On Application
Ongoing Fees
Ongoing service fees apply. Amount is calculated as a percentage of invoices processed.
Late payment fee
-
Transaction fee
$0.00
Early repayment penalty
-
Other fees
-
Loan type
Line of Credit
Security type
Secured
Minimum loan amount
$200,000
Maximum loan amount
-
Minimum loan term
1 year
Maximum loan term
-
Repayment frequency
-
Repayment types
-
Minimum trading period
0 years
Minimum annual turnover
$1,000,000
Application speed
Varies
Approval speed
Varies
Funding speed
from 24 hours
Extra repayments allowed
-
Redraw allowed
-
Other benefits
Borrowed funds are secured against outstanding accounts receivable.
Other restrictions
Recourse fees payable on debts which remain unpaid 90 days after the month of being raised.
Go to site
ScotPac
About ScotPac
Invoice Finance
Leave property out of the equation with ScotPac's Invoice Finance solution. Receive up to 85% of your debtors ledger with facilities ranging from $200K to over $100Mil.
Interest Rate
from 6.00% p.a.
Upfront Fee
On Application
Funding speed
from 24 hours
Go to site
Invoice Finance
Leave property out of the equation with ScotPac's Invoice Finance solution. Receive up to 85% of your debtors ledger with facilities ranging from $200K to over $100Mil.
Interest Rate
from 6.00% p.a.
Upfront Fee
On Application
Ongoing Fees
Ongoing service fees apply. Amount is calculated as a percentage of invoices processed.
Late payment fee
-
Transaction fee
$0.00
Early repayment penalty
-
Other fees
-
Loan type
Line of Credit
Security type
Secured
Minimum loan amount
$200,000
Maximum loan amount
-
Minimum loan term
1 year
Maximum loan term
-
Repayment frequency
-
Repayment types
-
Minimum trading period
0 years
Minimum annual turnover
$1,000,000
Application speed
Varies
Approval speed
Varies
Funding speed
from 24 hours
Extra repayments allowed
-
Redraw allowed
-
Other benefits
Borrowed funds are secured against outstanding accounts receivable.
Other restrictions
Recourse fees payable on debts which remain unpaid 90 days after the month of being raised.
Go to site
Details
Business Fuel
About Business Fuel
Business Loan
Fast, flexible business loans from $10,000 to $200,000. Great for businesses which have been trading for more than 6 months with a monthly turnover above $10,000.
Interest Rate
On Application
Upfront Fee
$0.00
Funding speed
48 Hours
Go to site
Details
Business Loan
Fast, flexible business loans from $10,000 to $200,000. Great for businesses which have been trading for more than 6 months with a monthly turnover above $10,000.
Interest Rate
On Application
Upfront Fee
$0.00
Ongoing Fees
$0.00
Late payment fee
$25.00
Transaction fee
$0.00
Early repayment penalty
$0.00
Other fees
-
Loan type
Loan
Security type
Secured or Unsecured
Minimum loan amount
$10,000
Maximum loan amount
$200,000
Minimum loan term
6 months
Maximum loan term
1 year
Repayment frequency
Weekly
Repayment types
Principal & Interest
Minimum trading period
6 months
Minimum annual turnover
$120,000
Application speed
5 Minutes
Approval speed
24 Hours
Funding speed
48 Hours
Extra repayments allowed
yes
Redraw allowed
yes
Other benefits
Single Fixed Fee
Other restrictions
-
Read our Mozo Review to learn more about the Business Loan
Go to site
Business Fuel
About Business Fuel
Business Loan
Fast, flexible business loans from $10,000 to $200,000. Great for businesses which have been trading for more than 6 months with a monthly turnover above $10,000.
Interest Rate
On Application
Upfront Fee
$0.00
Funding speed
48 Hours
Go to site
Business Loan
Fast, flexible business loans from $10,000 to $200,000. Great for businesses which have been trading for more than 6 months with a monthly turnover above $10,000.
Interest Rate
On Application
Upfront Fee
$0.00
Ongoing Fees
$0.00
Late payment fee
$25.00
Transaction fee
$0.00
Early repayment penalty
$0.00
Other fees
-
Loan type
Loan
Security type
Secured or Unsecured
Minimum loan amount
$10,000
Maximum loan amount
$200,000
Minimum loan term
6 months
Maximum loan term
1 year
Repayment frequency
Weekly
Repayment types
Principal & Interest
Minimum trading period
6 months
Minimum annual turnover
$120,000
Application speed
5 Minutes
Approval speed
24 Hours
Funding speed
48 Hours
Extra repayments allowed
yes
Redraw allowed
yes
Other benefits
Single Fixed Fee
Other restrictions
-
Read our Mozo Review to learn more about the Business Loan
Go to site
Details

Want more business loan options?

Compare by business loan type

Business Loans

Browse all 56 business loans in Mozo's comparison database

PROS of a small business package

Having a relationship with a bank will help if you need a small business loan down the track. It should also bring better customer service.
With multiple accounts (should) come discounts on fees. Negotiate a good deal if you're bringing lots of business.
It's endlessly easier to have all your accounts with the one provider: for accounting, for management, and for sanity.

CONS of a small business package

There's always going to be a slightly better term deposit or cheaper business credit card with someone else. But you might find that constantly switching for the best deal, or having accounts with multiple institutions, is not worth the money it saves.

Looking for a business loan? Check out our top loans below.

^See information about the Mozo Experts Choice Business Loans Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Compare Business Banking Packages

Business Loans Comparison Table - rates updated dailyMozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.

Fully Drawn Loan

Fully Drawn Loan

Fully Drawn Loan

Fully Drawn Loan

Invoice Finance

Invoice Finance

Invoice Finance

Invoice Finance

Business Loan

Business Loan

Business Loan

Business Loan

Invoice Finance

Invoice Finance

Invoice Finance

Invoice Finance

Business Loan

Business Loan

Business Loan

Business Loan

PROS of a small business package

CONS of a small business package

Mozo

Disclaimer

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Disclaimer

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