The Finance Algorithm
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Business Overdraft

Provides cash flow relief with funds to cover business expenses, such as invoices and wages until you're paid.

OverdraftsBank updated 28 Oct 2026
Product page ↗Fees and pricing ↗Terms ↗

At a glance

Variable
8.36%

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.

This overdraft: 8.36%Every other institution's lowest, 11 in all

Lowest advertised rate; most are variable. One dot per institution, at its lowest business overdraft rate anyone can apply for; hover or tap a dot for its name.

This overdraft: 8.36%Every other institution's lowest, 11 in all

Lowest advertised rate; most are variable. One dot per institution, at its lowest business overdraft rate anyone can apply for; hover or tap a dot for its name.

RateThis overdraftBest anywhereTypical institutionWhere it sits
Business overdraftLowest advertised rate; most are variable8.36%8.24%IMB Bank's Commercial Credit line10.06%of 12 institutions2nd lowest of 12
Business overdraftLowest advertised rate; most are variable8.36%8.24%IMB Bank's Commercial Credit line10.06%of 12 institutions2nd lowest of 12

Rates

The one rate Westpac publishes for this overdraft.

TypeApplies toTermBandRateComparisonConditions
Variable---8.36%--

Rate changes

One change logged, newest first.

DateRateWasNowChange
9 Oct 2026Variable8.11%8.36%up 0.25

Each change is logged the night it appears in the rates Westpac publishes. See how every lender answered the RBA on the rate tracker.

Fees

2 fees published, grouped by when they're charged.

  1. When you take it out0.60% of balanceLending Establishment Fee
  2. While you hold it1.20% of balance a monthMonthly Line Fee
  3. When you close it or pay it offNo fee published

When you take it out1

  • Lending Establishment Fee

    Minimum charge of $600.00

    0.60% of balance

While you hold it1

  • Monthly Line Fee

    Monthly Line Fee: 1.20% p.a. (of total limit) charged at the beginning of the month. Other fees may apply.

    1.20% of balance a month

Features

Extra repaymentsDigital bankingRelationship managerOverdraft
  • Keep your cash flowing - Access extra funds anytime.
  • Only pay interest on what you use: Interest is charged only when your spending exceeds your transaction account balance.
  • Repay at any time: No regular amount or time frame to make repayments.

Eligibility and limits

  • Minimum age 18
  • Available to businesses
  • Have a valid Westpac Business Transaction account.
  • Meets the credit criteria and credit policy requirements under an applicable offer for this product.

Published by Westpac under the Consumer Data Right, last changed by them on 28 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.