Finty
Australian Mutual Bank

Australian Mutual Bank Commercial Personal - Principal & Interest

Term loan

The Commercial Personal loan is available for commercial members.

Written byDavid Boyd
Interest rate a year, from
6.95%
Establishment fee
$150
Monthly fee
Not published
Borrow
$5,000 to $150,000

Monthly repayment

$100,000 over 5 years

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What it would cost

At the lowest published rate of 6.95%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$1,978
Total repayments
$118,666
Interest
$18,666

Loan details

Rates

Interest rate (a year)
6.95%–14.51%
Rate type
Variable
Security
Not published
Type of finance
Term loan

Limits and fees

Loan amount
$5,000 to $150,000
Loan term
Not published
Establishment fee
$150
Monthly fee
Not published

How it compares

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

Cost of $20,000 over 5 years

$3,883

Interest and fees at its starting rate. Typical is $4,473.

Setup fee

$150

A typical setup fee is $26.

Most you can borrow

$150,000

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

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 6.95% to 14.51%, and only some people get the starting rate.
  • A lower limit. Up to $150,000, less than the typical $5,000,000, so it may not cover a larger purchase.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Similar loans

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