Business Loans & Overdrafts
First Option offers Business Loans to assist members# with their business needs. A Business Loan is ideal for:
TAB Agents for Agency Bonds
purchasing TAB Agency improvements, such as TV screens
purchasing commercial property
purchasing of a business for business use
where commercial property is used as security
Features of a First Option Business Loan
no monthly fees
no penalty for extra loan repayments
lower rate and no establishment fee (if secured by residential property)
Benefits of a First Option Business Loan
choice of “principal and interest” or “interest only” loans
choice of fixed or variable rate loans
Redraw facility
You can also apply for a Business Overdraft to cover those ongoing expenses.
Apply Online Enquire
* Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
# Business Loans and Overdrafts are available to those who have an affinity with First Option. This includes existing First Option members, their immediate family and those employed by a First Option host company.
Business Loan Interest Rates Residential security Variable Interest Rate 4.79 % pa Comparison Rate 4.83 % pa Interest Rates Commerical security Variable interest rate 5.69 % pa Comparison Rate 5.78 % pa Fees Establishment Fee $ 600 Valuation fees payable? Yes Annual Fee $ 0 Monthly Fee $ 0 Redraw Fee (per redraw) $ 10 Features Minimum Amount $ 5000 Maximum Term in Years 30 Redraw Facility Yes Offset Account No Additional Repayments Accepted Yes ATM/EFTPOS Access No Branch Access Yes
Business Overdraft Business Overdraft Residential Security Variable Interest Rate 5.49 % pa Business Overdraft Commerical Security Variable interest rate 6.39 % pa Fees Valuation fees payable? Yes Establishment Fee $ 600 Annual Fee $ 0 Monthly Fee $ 0 Features Minimum Amount $ 5000 Repayments Weekly, fortnightly, monthly Interest Charges Calculated daily, charged monthly
Additional Product Information
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Any advice or information on this site does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Please review our Conditions of Use and Financial Services Guide . © Copyright 2018 First Option Bank Ltd | ABN 95 087 650 735 | AFSL / Australian Credit Licence 236 509
