Commercial Overdraft

A Commercial Overdraft provides greater control over cash flow and is designed to help you manage your day-to-day finances.

Features

• Flexible repayments – there are no mandatory monthly repayments and you can pay as much or as little as you like, as long as the overdraft remains below the credit limit
• Funds always available for unexpected expenses and cashflow shortfalls – pay bills, make purchases and withdraw cash

*This interest rate is applicable when residential mortgage security is taken. Terms and conditions apply and are available on request.

Tax File Number

Interest earned on all savings accounts must be declared for income tax purposes. If you do not provide us with your Tax File Number or Tax File Number Exemption or Australian Business Number (ABN), we must deduct tax at the highest personal income tax rate plus the Medicare Levy from your interest earned. You are not obliged to provide your Tax File Number or Tax File Number Exemption or ABN.

Business Definition

A business is defined as a body corporate or person involved in a commercial activity including a company, partnership or sole trader with an ABN, incorporated association or cooperative.

Important Information

If you wish to have both business and personal accounts with Queenslanders, these will need to be opened and operated separately. Members seeking the waiver of the Monthly Account Service Fee due to not-for-profit or charitable status will be required to provide relevant documentation.

Please be aware that interest rates may change at any time without agreement. All interest rates quoted are per annum. Fees and charges are payable. Normal lending criteria, terms and conditions apply and are available on request. Before acquiring this product, the information above should be read in conjunction with the following documents to determine if this product is right for you: Business Banking, Fees and Charges, Financial Services Guide, Business Interest Rates, and Account and Access Facility Conditions of Use.