Bank of Melbourne
Commercial Overdraft
Easy access to approved finance to manage everyday business expenses.
OverdraftsBank updated 15 May 2026
At a glance
- Variable
- 9.81%
- Monthly fee
- $0
§ 01 — Rates · 1
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableCommercial Base Rate | — | — | — | 9.81% | — | — |
§ 02 — Fees · 5
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Discharge Settlement Fee | Event | $350 | — | Payable when we agree to discharge a security linked to the facility |
| Valuation Costs | Event | Varies | — | — |
| Account Keeping Fee | Periodic | No fee | Every 1 mo | — |
| Line Fee | Periodic | 1.20% of balance | Every 1 mo | — |
| Lending Establishment Fee | Upfront | 0.60% of balance | — | Minimum charge of $600.00 This fee is waived for new customers |
§ 03 — Features
RedrawExtra repaymentsDigital bankingRelationship manager
- · Special offer: $0 establishment fee for a limited time, you?ll pay $0 establishment fee when you add a Commercial Overdraft to a business transaction account or top-up your existing Commercial Overdr…
- · Approved amount of extra funds linked to your business transaction account
- · Access funds when spending exceeds your business account balance
- · Secured or unsecured option
- · Variable interest rates
- · 24/7 access to available funds, up to the approved limit
- · Only pay interest on the overdraft amount used
- · Manage cash flow while you wait for customer payments
- · Helps with unexpected business expenses
§ 04 — Eligibility & limits
- · Minimum age 18
- · Available to businesses
- · A business entity or an individual 18 years and above, domiciled in Australia and require the funding wholly or predominantly for business purposes
- · Meets the credit criteria and credit policy requirements under an applicable offer for this product.
§ 05 — Compare
§ 06 — Run the numbers
Put this product through a calculator
Published by Bank of Melbourne under the Consumer Data Right, last changed by them on 15 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.