Term Loans for a variety of business finance needs
A Suncorp Term Loan is a financing option designed to help you improve or expand your business or re-finance existing debt.
Suncorp's Term Loan offers you the finance you need with the flexibility and features you want.
Term Loans offer:
- Funding for specific purposes
- Competitive interest rates, fixed or variable
- Flexible repayment options
| Feature |
Description |
| Loan Amount |
Minimum Loan amount:
- $250,000 for Agribusiness purposes or
- $1,000,000 for Commercial Business purposes.
For information on business finance less than these amounts visit Small Business.
No maximum loan amount |
| Interest rate options |
Your Suncorp term loan rates are calculated using a competitive base rate plus a customer margin
Choose from variable or fixed interest rates or Suncorp Bank Bill Term lending base rates, which give you the security of a known rate for your interest rate period (30, 90 or 180 days) plus the flexibility of a rate reset at the end of every interest rate period |
| Repayment options |
Structured repayments to suit cashflow and seasonal fluctuations:
- Interest Only in Advance (fixed rates only)
- Interest Only in Arrears
- Principal and interest in arrears
|
| Interest charging options |
Interest charging every;
Month;
quarter;
half-yearly;
yearly (in advance only);
Interest capitalising (monthly in arrears term loans only
Interest payments are charged to the account and loan repayments are not required up to an agreed limit. Once the loan reaches the agreed limit the loan converts to a non-capitalising loan, requiring repayments to be made |
| Loan Term |
Up to 15 years |
| Security |
Many forms of security accepted including residential, commercial or rural property, business assets, or a combination of these |
| Progressive drawdown |
Only available on variable Interest Only term loans. Progressive drawdowns are perfect for construction or development finance as we make progressive payments at each stage (multiple drawdowns) within a certain time frame. Interest is charged on the amount outstanding not the approved limit |
| Redraw Option |
Redraw of payments in advance is available on variable term loans only, subject to conditions |
Fees
| Item |
Description |
| Establishment Fee |
Fee varies, depending on the loan amount. Minimum of $950. |
| Account Maintenance Fee |
$300 per half year |
| Other |
Other fees and charges apply. Please contact your Business Banking Manager or call 13 11 55 for more information. |
