A Business Line of Credit loan is ideal for business borrowers who are good at budgeting and want a loan account which combines their business transaction account and credit limit all in one. If you're still not sure about which option is right for you, we're happy to help you make the right decision. Call us on 13 11 82 or visit your nearest branch for more details.
- A Business Line of Credit account allows you to deposit and withdraw funds up to an approved credit limit as often as you like. You can even have all of your business credits and debits linked to this account. By regularly depositing into the account (via payroll or savings) you could reduce the amount of interest paid, therefore reducing the term of your loan, allowing you to pay it off sooner.
- Business Line of Credit accounts are Interest Only for a period of up to 10 years. This means your required payment is equal to the interest charged to the account for the month. The interest amount due each month can be deducted from the available funds in your Business Line of Credit account, providing you are within your approved limit.