Great Southern Bank
Commercial Variable - Commercially Secured IO
Apply to pay interest only for up to 5 years of the total term on your business loan.
Business loansBank updated 27 May 2026
At a glance
- Variable
- 7.75%
- Loan size
- $20,000 to $5,000,000
- Upfront fee
- $985
§ 01 — Rates · 1
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| Variable | Interest only | — | — | 7.75% | — | — |
§ 02 — Fees · 17
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Account Information Fee | Event | $20 | — | Account informaton fee is payable when customer request the following: - An annual audit certificate on a Great Southern Bank account - A copy of a cheque or Visa voucher - Personal information, trac… |
| Arrears Letter Fee | Event | $22 | — | Payable where Great Southern Bank sends you a letter in relation to arrears on your account. |
| Debt Collection Fee | Event | Varies | — | Costs incurred in the recovery of outstanding debts vary depending on the nature of the default. These costs are applied by the Solicitors or independent contractors engaged to undertake action to re… |
| Default Notice Fee | Event | $33 | — | Default notice fee is payable where Great Southern Bank sends you a default notice in relation to outstanding arrears on your account. |
| Early Payout Cost (EPC) | Event | Varies | — | When you enter into a fixed rate loan contract, you are effectively locking in the loan interest rate offered to you for an agreed period of time (e.g. 5 years). If you decide to switch or payout you… |
| Increase to an existing Business Term Loan or Overdraft | Event | $750 | — | Payable if you apply for a further advance on your overdraft. |
| Production Fee | Event | $100 | — | If you request a title held by Great Southern Bank to be produced to a relevant state’s land titles office for any purpose, a production fee is payable. |
| Re-documentation Fee | Event | $300 | — | Where a borrower requests, and Great Southern Bank agrees, to a restructure of a loan between approval and funding and that change requires amended documentation to be prepared, a fee will be payable. |
| Redraw Fee | Event | No fee | — | $200 minimum withdrawal applies in branch. |
| Variation Fee | Event | $300 | — | A variation fee is payable if you request any changes to the Credit Contract or Security - for example: - Re-arrange and/or substitute a security on a mortgage - Consent to any dealings in relation t… |
| Discharge Fee | Exit | $500 | — | If you pay out the loan partially or in full where a discharge of security is required, or you request a discharge of a security, a discharge fee is payable (per release or transaction). |
| Monthly Account Keeping Fee | Periodic | No fee | — | — |
| Establishment Fee | Upfront | $750 | — | Establishment Fee irrespective of total loan amount applied for. In some instances, where business loan applications are complex, an application fee may be required before a loan is considered. In th… |
| Government fees and charges | Upfront | Varies | — | Government fees and charges relating to stamp duty and registration are payable on an event causing a change or variation to the transaction and/or security being taken in the applicable state or ter… |
| Property Valuation Fee | Upfront | Varies | — | A property valuation fee is payable for each commercial property offered as security. The fee is payable at loan settlement and will be included in your Credit Contract. The amount of the fee will be… |
| Security Adminstration Fee | Upfront | $235 | — | For each security offered to the Great Southern Bank loan. A securities administration fee applies to all secured credit facilities. The securities administration fee represents the average cost base… |
| Solicitors costs | Upfront | Varies | — | Solicitors costs are payable where they are engaged to prepare documents or provide advice relating to your matter on Great Southern Bank’s behalf. |
§ 03 — Features
RedrawExtra repaymentsRelationship manager
- · $0 Monthly or annual fees.
- · Flexible loan options. During the overall term you can choose a variable rate or fix the interest rate for 1, 2, 3 or 5 years as many times as you like. Or apply for an interest only period of up to…
- · Split Loan alternative. You can request us to split your new business loan - a portion on a fixed rate and the remainder at a variable rate or two different fixed rates.
- · Longer loan terms = lower repayments. Eligible customers can request an overall term of up to 30 years for loans secured by qualifying residential property or up to 25 years with suitable commercial…
- · Choose your security. Secure your loan with residential or commercial property. Or combine with a home loan and use your home equity.
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: All individuals, directors, guarantors, trustees, members must be an Australian Resident.
- · Available to businesses
- · Amount $20,000 to $5,000,000
- · Maximum LVR 80%
- · Applications for Business Loans are subject to credit approval. Property offered as security must be acceptable within policy.
§ 05 — Compare
§ 06 — Run the numbers
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Published by Great Southern Bank under the Consumer Data Right, last changed by them on 27 May 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.