Finty
BNK Bank (Goldfields Money/BCHL)

BNK Bank (Goldfields Money/BCHL) Commercial Alt Doc

Term loan

The Gold Commercial Alt Doc Loan offers a competitive solution for investors and business owners.

Written byDavid Boyd
Interest rate a year, from
7.99%
Establishment fee
$25
Monthly fee
Not published
Borrow
$100,000 to $3,000,000

Monthly repayment

$100,000 over 5 years

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What it would cost

At the lowest published rate of 7.99%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,027
Total repayments
$121,630
Interest
$21,630

Loan details

Rates

Interest rate (a year)
7.99%–9.99%
Rate type
Variable
Security
Not published
Type of finance
Term loan

Limits and fees

Loan amount
$100,000 to $3,000,000
Loan term
Up to 30 years
Establishment fee
$25
Monthly fee
Not published

How it compares

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

Setup fee

$25

A typical setup fee is $26.

Most you can borrow

$3,000,000

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

Longest term

30 years

3 years is the usual longest term.

Pros and cons

Pros

  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • 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 7.99% to 9.99%, and only some people get the starting rate.
  • 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.