Business Overdraft
Benefits for your business
Keep your cash flowing
Access extra funds1 anytime.
Only pay interest on what you use
Interest is charged only when your spending exceeds your transaction account balance.
Repay at any time
No regular amount or time frame to make repayments.
At a glance
| Borrow the amount you need1 | |
| Variable rates from |
8.11% p.a.2 |
| Monthly line fee | 1.20% p.a. of total limit3 |
| Establishment and other fees apply. |
What you could use a business overdraft for
- Pay suppliers
- Payroll
- Stock purchase
- Unexpected expenses
What you need to apply
Fast track your application
For existing customers
You could receive an outcome in minutes when you apply for an unsecured business overdraft online.
Discover your borrowing power in 10 minutes
- Want to borrow between $10k and $3m?
- Looking for a business loan, business overdraft or vehicle and equipment finance?
We can help. Just have these documents handy:
- Latest annual financial statements or business tax return
- 12 months' business activity statements from the ATO
- Signed copy of your lease agreement (only required for property investments)
Enquire now to book in your 10 min borrowing power chat or if you just need to talk through your business needs.
What customers have said about their borrowing experience
"We were over the moon and very appreciative of the speed with which we were able to get an approval" (Lawn Mowing business, VIC)
"I was extremely satisfied with how quick we were able to apply and receive our funds. It took away a lot of stress out of our expansion" (Film Producer, QLD)
"Applying was really easy and meant we were able to purchase the property knowing we had the funds" (Bedding retailer, VIC)
Source: Westpac business lending applicants 2023.
Keep exploring
Things you should know
Credit criteria, fees, charges, terms, and conditions apply. Talk to your banker for product details.
1. Eligibility, credit criteria and type of security determine how much you can borrow.
2. Rates vary depending on a number of factors, such as the type of security provided.
3. A line fee is charged monthly based on the total limit. The monthly charge is calculated using the line fee annual percentage rate, total limit, and number of days to arrive at the monthly amount.
For example, let's say the line fee is 1.20% p.a., the limit of your overdraft is $10,000 and the month has 31 days. The line fee is calculated as: (1.20% of $10,000)/365x31 days = $10.20 per month.