Finty

Bank of Sydney Resisec Commercial Loan

Term loanSecured

Buy a new office space or invest in property for your business using your home as security, with our Residentially Secured Commercial Loan.

Written byDavid Boyd
Interest rate a year, from
11.10%
Establishment fee
Not published
Monthly fee
Not published
Borrow
From $100,000

Monthly repayment

$100,000 over 5 years

Apply now

What it would cost

At the lowest published rate of 11.10%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,179
Total repayments
$130,754
Interest
$30,754

Loan details

Rates

Interest rate (a year)
11.10%
Rate type
Variable
Security
Secured
Type of finance
Term loan

Limits and fees

Loan amount
From $100,000
Loan term
Not published
Establishment fee
Not published
Monthly fee
Not published

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 11.10%, 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.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
  • A $50 late payment fee. Setting up automatic repayments avoids it.

Similar loans

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