SummerlandBusiness Plus Overdraft
A line of credit linked to your business account, giving you easy access to funds, up to an agreed amount, to cover your cash flow needs.
At a glance
- Variable
- 10.54%
- Loan size
- $1,000 to no maximum
- Upfront fee
- $800
- Monthly fee
- $8
How it compares
This overdraft in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.
| Rate | This overdraft | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| Business overdraftLowest advertised rate; most are variable | 10.54% | 8.24%IMB Bank's Commercial Credit line | 10.06%of 12 institutions | 9th lowest of 12 |
| Business overdraftLowest advertised rate; most are variable | 10.54% | 8.24%IMB Bank's Commercial Credit line | 10.06%of 12 institutions | 9th lowest of 12 |
Rates
Every rate Summerland publishes for this overdraft, 2 in all.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableSecured by residential security. | P&I | - | - | 10.54% | - | - |
| VariableSecured by Non-Residential Security. | P&I | - | - | 11.54% | - | - |
Fees
6 fees published, grouped by when they're charged.
- When you take it outUp to $8002 fees, each listed below
- While you hold it$8 a monthOverdraft Facility Fee
- When you close it or pay it offNo fee published
When you take it out2
- Loan Establishment Fee
Mortgage establishment, Mortgage extension and Guarantee establishment fees are also payable, valuations and legal service work such as mortgage preparation charged at cost.
$800 - Settlement FeeVaries
While you hold it1
- Overdraft Facility Fee$8 a month
When you make a transaction1
- Mortgage Discharge Fee$250
When particular things happen2
- Contract Variation/Consent Fee$300
- QuickDebit Dishonour Fee$15
Features
- Save on paper, receive and view your statements online with eStatements.
Eligibility and limits
- Minimum age 18
- Residency: A Permanent Australian Resident including those working overseas. Borrowing entities must be a Permanent Resident of Australia
- Available to businesses
- Amount from $1,000, no maximum
- Lending criteria apply.
Compare it with others
Put this product through a calculator
Published by Summerland Bank under the Consumer Data Right, last changed by them on 23 Oct 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.