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Unsecured Business Overdraft

Now it's quick and easy to apply for unsecured funds to expand your business.

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

At a glance

Variable
13.96%
Loan size
$5,000 to $250,000
Upfront fee
$250

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: 13.96%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: 13.96%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 variable13.96%8.24%IMB Bank's Commercial Credit line10.06%of 12 institutions10th lowest of 12
Business overdraftLowest advertised rate; most are variable13.96%8.24%IMB Bank's Commercial Credit line10.06%of 12 institutions10th lowest of 12

Rates

The one rate Westpac publishes for this overdraft.

TypeApplies toTermBandRateComparisonConditions
Variable---13.96%--

Rate changes

One change logged, newest first.

DateRateWasNowChange
9 Oct 2026Variable13.71%13.96%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 out$250Lending Establishment Fee
  2. While you hold it1.50% 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
    $250

While you hold it1

  • Monthly Line Fee

    Monthly Line Fee: 1.50% p.a. (of total limit) charged at the beginning of the month. Other fees may apply.

    1.50% of balance a month

Features

Extra repaymentsRelationship manager
  • No security - There's no need to use assets to secure the loan.
  • Pay for what you use - Only pay interest on the overdraft amount you use.
  • Quick access - Overdraft limit of up to $250k for when you need it.
  • Flexible repayments - No fixed time frames or need for regular repayments.

Eligibility and limits

  • Minimum age 18
  • Residency: Domiciled in Australia
  • Available to businesses
  • Amount $5,000 to $250,000
  • Meet the credit criteria and credit policy requirements under an applicable offer for this product.
  • Hold a Westpac business transaction account in the same name that you will use to apply
  • Have less than $1.5m in business lending with Westpac
  • Have ATO payments, loan repayments and employee entitlements (including super) up to date
  • Not foresee a decline in business revenue that would affect the payment of business liabilities
  • Not be a franchisee, SMSF or charity
  • Tell Westpac about all your accounts and liabilities, so we have a complete and accurate view of your business's financial position
  • In the past 30 days, have not taken up any additional business lending with any financial institution. The overdraft will be used for business purposes only and will not be used to refinance any othe…
  • Not use the overdraft to start a business, fund a property development or to purchase residential property.

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.