Finty
Australian Mutual Bank

Australian Mutual Bank Variable Principal & Interest Commercial Lending

Term loan

Flexibly structure and manage your business loan with Commercial Lending

Written byDavid Boyd

6.74%

interest rate a year, from

Establishment fee
$250
Monthly fee
Not published
Borrow
$1,000 to $10,000,000

Loan details

Rates

Interest rate (a year)
6.74%
Rate type
Variable
Security
Not published
Type of finance
Term loan

Limits and fees

Loan amount
$1,000 to $10,000,000
Loan term
Not published
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

$3,865

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.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 6.74%, so the rate you see is the rate you get.
  • 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

  • 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.