Finty
Australian Mutual Bank

Australian Mutual Bank Fixed Interest Only Commercial Lending

Term loan

Flexibly structure and manage your business loan with Commercial Lending

Written byDavid Boyd
Interest rate a year, from
7.84%
Establishment fee
$250
Monthly fee
Not published
Borrow
$1,000 to $10,000,000

Monthly repayment

$100,000 over 5 years

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What it would cost

At the lowest published rate of 7.84%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,020
Total repayments
$121,199
Interest
$21,199

Loan details

Rates

Interest rate (a year)
7.84%–8.19%
Rate type
Fixed
Security
Not published
Type of finance
Term loan

Limits and fees

Loan amount
$1,000 to $10,000,000
Loan term
1 year to 5 years
Establishment fee
$250
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

$4,490

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

Setup fee

$250

A typical setup fee is $26.

Most you can borrow

$10,000,000

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

Longest term

5 years

3 years is the usual longest term.

Pros and cons

Pros

  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • 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 7.84% to 8.19%, and only some people get the starting rate.

Similar loans

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