Finty
Auswide Bank

Auswide Bank Business Term Loan

Term loan

A business loan with competitive variable and fixed interest rates and the flexibility to redraw.

Written byDavid Boyd
Interest rate a year, from
7.39%
Establishment fee
Not published
Monthly fee
$20
Borrow
$20,000 to $5,000,000

Monthly repayment

$100,000 over 3 years

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What it would cost

At the lowest published rate of 7.39%, including the monthly fee. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$3,126
Total repayments
$112,521
Interest and monthly fees
$12,521

Loan details

Rates

Interest rate (a year)
7.39%–9.28%
Rate type
Fixed or Variable
Security
Not published
Type of finance
Term loan

Limits and fees

Loan amount
$20,000 to $5,000,000
Loan term
1 year to 3 years
Establishment fee
Not published
Monthly fee
$20

How it compares

Against the other business loans we compare. Typical means the middle half of them.

Monthly fee

$20

A typical monthly fee is $25.

Most you can borrow

$5,000,000

Typically you can borrow up to $5,000,000.

Longest term

3 years

3 years is the usual longest term.

Pros and cons

Pros

  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 7.39% to 9.28%, and only some people get the starting rate.
  • A $20 monthly fee. That adds $1,200 over 5 years, as well as the interest.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.