Westpac Business Overdraft

Secured business overdraft with a variable rate and a line fee on the total limit, where interest is paid only on the amount used.

From lender's website, 25 Sept 2026

Product details

As published by Westpac. Details not published by the lender are marked.

Loan amount: Not published
Rate: From 8.11% p.a. variableStarting variable rate on the product page; matches the Small Business Overdraft Rate of 8.11% p.a. on Westpac's business lending rates page, effective 1 September 2026. Rates vary with security type.
Rate type: Variable
Term: Not published
Security: Secured
Structure: Overdraft
Fees: Monthly line fee of 1.20% p.a. of total limit · Establishment fee of $0 for a limited time when eligibility criteria are met (applications received and approved 7 April 2026 to 30 September 2026, limits up to $1 million)
Repayment frequency: Not published
Early repayment: Not published
Time trading: Not published
Turnover: Not published
Documents: ID, financial statements, proof of individual income, and personal and business expenses.
Guarantees: May be required
Funding time: Not published
Restrictions: Requires a valid Westpac Business Transaction account.
How to apply: Direct with the lender, or through us
Suitable purposes: Cash flowStock

Sources and freshness

Version 2, effective 25 Sept 2026. Second pass check against the lender website.

Important information

About rates and fees.: Business finance is priced individually. Rates shown are the lender's published starting or indicative rates, not guaranteed rates. Where a lender does not publish a rate we still list the product and show how it is priced: "Rate available on application", "Risk-based pricing" (the lender says the rate depends on your risk or credit profile) or "Individual assessment" (the lender tailors pricing to each customer). Your rate and fees are confirmed by the lender after assessment.
Eligibility.: Meeting published criteria does not guarantee approval. Lenders also consider credit history, conduct of accounts, industry, security and the purpose of the loan.
Commercial relationships.: Where we have a commercial relationship with a lender, it is shown on that lender's profile. Appearing on our homepage or in results does not by itself mean a commercial relationship exists.