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A term loan can provide medium to long term finance, to help your business with funding asset purchases and business development. |
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Contact us
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Contact us now |
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business manager |
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phone 0800 177 188
(Monday to Friday,
8am to 6pm) |
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| With a floating rate loan you have the flexibility to |
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reduce debt faster than scheduled |
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change your payments at any time |
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pay off lump sums when you want, or pay back your loan early - with no penalty. |
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| Choose your loan type |
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table loan - repayments can be spread evenly over the term of the loan; or |
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reducing loan - repayments can gradually reduce over the loan term |
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interest only. |
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| How it works |
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interest is calculated on the daily outstanding balance and charged either fortnightly or monthly |
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minimum floating rate term loan amount - $3000 |
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maximum amount - will depend on your security and ability to service the debt |
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repayments are automatically deducted from your nominated transaction account |
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an establishment fee up to 1% of the facility limit applies - with a minimum charge from $400. |
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| With a fixed rate term loan |
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the interest rate and your payments stay the same for the term of the loan |
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you have greater certainty when planning your finances - if interest rates go up, you won't be affected |
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a range of fixed rate terms from 1 to 5 years is available |
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you can fix forward rates up to 12 months before you need the finance to offset concerns over interest rate fluctuations. |
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| Choose your loan type |
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table loan - repayments can be spread evenly over the term of the loan; or |
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reducing loan - repayments can gradually reduce over the loan term |
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interest only. |
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| How it works |
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interest is calculated on the daily outstanding balance and charged monthly |
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minimum fixed rate term loan limit - $10,000 |
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maximum limit - will depend on your security and ability to service the debt |
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repayments are automatically deducted from your nominated transaction account |
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early termination or lump sum payments are available, with minimum prepayment amounts of $10,000 (a prepayment fee may apply) |
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an establishment fee up to 1% of the facility limit applies - with a minimum charge from $400. |
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download more info on the prepayment costs on fixed rate loans |
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