Fully Drawn Business Loan - Fixed Non-Residential Security Interest Only
This loan is a good option for most business needs such as purchasing a property, buying a business or longer term working capital requirements.
Category: Business Loans Last Updated September 4, 2024 Effective September 30, 2024
General Lending Rates
Rates listed below are for a FIXED Interest Only product. Additional Information 3 years fixed - Non-Residential Security
Interest Rate
7.09% PA
7.09% PA
Comparison Rate
0.00%PA*
0.00%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
, FIXED, 7.19%
- Lending Rate Type: Fixed
- Interest Rate: 7.19%, Comparison Rate 0.00%
- Repayment Type: Interest Only
- Loan Purpose:
, FIXED, 7.09%
- Lending Rate Type: Fixed
- Interest Rate: 7.09%, Comparison Rate 0.00%
- Repayment Type: Interest Only
- Loan Purpose:
, FIXED, 7.19%
- Lending Rate Type: Fixed
- Interest Rate: 7.19%, Comparison Rate 0.00%
- Repayment Type: Interest Only
- Loan Purpose:
, FIXED, 7.19%
- Lending Rate Type: Fixed
- Interest Rate: 7.19%, Comparison Rate 0.00%
- Repayment Type: Interest Only
- Loan Purpose:
Product Features
- Other Additional Information: Repayment term matched to the cash flow of the business
- Redraw Additional Information: Redraw available by arrangement
Product Eligibility
- Business
Bank Fees and Charges
- Application Fee (Upfront), Amount: 400.00.
- Monthly Administration Fee (Periodic), Amount: 20.00.
- Loan Finalisation Fee (Exit), Amount: 300.00.
- Default Fee (Event), Amount: 30.00. Additional Information: Will be charged monthly until no longer in default
- Approval Fee (Event), Amount: 100.00.
- Redraw Administration Fee (Event), Amount: 20.00. Additional Information: Once your facility is fully drawn and approval to redraw is given. Not applicable to online redraw
- Consent Fee (Event), Amount: 200.00. Additional Information: Per Consent if required to Consent to the registration of a Land Titles document over the security property to a third party
- Production Fee (Event), Amount: 100.00. Additional Information: If Heritage is required to produce a security document to the State's Land Titles Authority or agency
- Partial Release Fee (Event), Amount: 200.00. Additional Information: $200.00 per security
- Capital Reduction Fee (Event), Amount: 75.00.
- Redocumentation Fee (Event), Amount: 450.00. Additional Information: If you apply to change the specific details of your facility or substitute securities
- Heritage Cheque Fee (Event), Amount: 10.00. Additional Information: For each cheque drawn by Heritage on itself which is issued from your facility
- Telegraphic Transfer Fee (Event), Amount: 30.00. Additional Information: If a telegraphic transfer is made from your facility account via RTGS within Australia
- Rtgs Deposit Fee (Event), Amount: 10.00. Additional Information: If a payment/transfer to your facility account via RTGS occurs
- Transaction Listing Fee (Event), Amount: 5.00. Additional Information: When a transaction listing between two given dates is issued on your facility account. $5.00 per page
- Additional Statement Fee (Event), Amount: 1.00. Additional Information: For the second and each subsequent statement issued during a month, or when a statement is issued on your facility account at your request at any time before the next statement issuing date: $1.00 per statement
- Direct Debit Dishonour Fee (Event), Amount: 10.00. Additional Information: If a direct debit authorised to be made from or to your account is dishonoured.
- Sms Alerts (Event), Amount: 0.25. Additional Information: $0.25 for each SMS Alert delivered by SMS to your mobile phone.
- Overseas Cheque Deposit Fee (Event), Amount: 10.00. Additional Information: If a cheque in foreign currency is deposited to your facility account (note: Heritage does not always accept these deposits)
- Document/record Search Fee (Event), Amount: 12.00. Additional Information: For record searches, traces, supplying copy of details of transactions (including Visa card transaction slips) on your facility account (refunded if fee was charged for transaction-specific information and the transaction was incorrectly debited). $12.00 per item.
- Audit Certificate Fee (Event), Amount: 15.00. Additional Information: $15.00 per certificate
- Heritage On-line Business Internet Banking Security Token Fee (Variable), Amount: 50.00. Additional Information: $50.00 per token each 3 years (including replacement tokens).
- Heritage On-line Business Internet Banking Account Reconciliation (Variable), Amount: 0.05. Additional Information: $0.05 plus GST per entry.
- Cash And Coin Handling Fee (withdrawals) (Variable), Amount: Not Listed.. Additional Information: If a cash withdrawal of over $2,000 is made from your facility account. $1.00 per $1,000 or part of $1,000 exceeding $2,000.
- Cash And Coin Handling Fee (deposits) (Variable), Amount: Not Listed.. Additional Information: If a cash deposit is made to your facility account at a Heritage branch or mini-branch of coins which have not been correctly bagged and counted. 2% of value.
- Break Fee (Variable), Amount: Not Listed.. Additional Information: Calculating the interest amount that Heritage would have received over the remaining fixed rate period of your Loan less the interest amount Heritage will receive on a comparable loan for the remaining fixed rate period at the date the Credit Contract is paid out.
Limitations & Restrictions (Constraints)
- Min Limit of 20000.00 Additional Information: Preferred minimum amount
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