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If you're looking for a capital injection to fund business growth, expansion or for any other acceptable business purpose, a National Australia Bank Business Interest Only Loan may provide you with the flexibility, simplicity and benefits that you need.
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What is it?
The National Australia Bank Business Interest Only Loan is a loan where interest only is payable in arrears throughout the term and the principal is due at the expiry of the loan.
With the flexibility of fixed or variable interest rates and a choice of interest cycles, this loan can be tailored to suit your individual business circumstances.
Benefits you can enjoy
- Frees up your cashflow - no principal repayments are required until maturity.
- Flexibility - the ability to swap from a variable interest rate to a fixed interest rate and vice versa during the term of the loan. *
- Convenience - ability to make alterations to your loan to accommodate your changing business circumstances.
- Simplicity - interest only payments are automatically debited from your National Australia Bank Business Current Account.
- Versatility - ability to make principal repayments.*
- Accessibility - access to your National Australia Bank Business Partner.
Features at a glance
- Your loan can swap between fixed and variable interest rates. At the end of any fixed rate interest period, the loan will switch to a variable interest rate unless you choose to re-fix it for another fixed rate period. *
- Interest only cycles can be set (monthly, quarterly and half yearly) in line with your cash flow.
- Progressive draw down options are available whilst the interest rate is variable.
- Additional repayments can be made during variable rate periods without attracting fees and charges.
*A variable rate loan can be switched to a fixed rate at any time at no cost. When swapping from a fixed rate to a variable rate, or when making a principal repayment, any relevant fixed rate must have expired first, otherwise a break cost administration fee will be payable and break costs may apply.
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Important Facts
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Interest rate
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Available on application |
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Interest type
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Fixed or variable |
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How is interest calculated
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Calculated daily and charged in arrears to the working account on the last business day of the cycle |
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Minimum term
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1 year |
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Maximum term
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5 years - subject to annual reviews |
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Minimum limit
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$250,000 |
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Maximum limit
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Unlimited |
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Repayment type
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Interest Only. The borrower has the ability to make ad hoc principal repayments any time while a variable rate applies. During a fixed rate period ad hoc principal payments must be made on the last day of the pricing period. If repayments are made at any other time during the fixed rate period break cost administration fees and break costs may apply.
Facility is repayable in full at the end of the facility term.
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Interest payment cycle options
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Monthly, Quarterly or Half-Yearly
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Additional information
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National Australia Bank Business Current Account is required
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Terms and conditions
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National Australia Bank's usual lending criteria applies. Terms and conditions available on request. Fees and charges are payable. |
where to from here?
If you have more questions or need further assistance, contact your National Australia Bank Relationship Partner or call (65) 6419 6875.
Important information: This information is subject to change without prior notice. The information does not purport to be a complete description of the product, is of a general nature only and should not be relied upon in making any decision. The product is only available to approved business customers. All loan applications are subject to our lending criteria. Terms and Conditions apply and are available on application.
National Australia Bank Limited, Singapore. UEN. S81FC2979B.
National Australia Bank Limited ABN 12 004 044 937 is incorporated in Australia.
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