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Bankwest Business Fixed Rate Loan

Take advantage of a fixed-rate loan offered by Bankwest and benefit from the ability to forecast your repayments.

With a business fixed-rate loan from Bankwest, you have the ability to set your rate for a minimum of one year and a maximum of five years. This allows you to work out the amount of your repayments, which will help the cash flow of your business since this is an expense that doesn’t change month to month. With this loan, you remain in control and can forecast repayments with confidence.

How does the Bankwest business fixed-rate loan work?

With this loan, you can set the rate for a minimum of one year and a maximum of five years. You have to apply for a minimum of $10,000 and the maximum loan amount you can apply for is based on the information regarding your assets and liabilities that you submit upon your application.

Once your loan application has been approved, you can choose between monthly, quarterly, half yearly or annual repayments that suit the cash flow of your business.

Features of the Bankwest business fixed-rate loan

The following are some of the features for this fixed-rate loan:

  • A large minimum rate. You need to apply for a minimum of $10,000. The maximum amount you can borrow is based on the assets that you put forward as security.
  • Loan terms. You can set a fixed rate for a minimum of one year to a maximum of five years.
  • Assets as security. You must put forward either a residential or commercial asset in order to have your application considered.
  • Varied repayment options. You can choose to pay off the interest accrued on this loan, or you can choose to pay off the principal and interest of the loan.
  • Peace of mind. The ability to forecast repayments on your loan can help ease pressure on your business and help you manage your cash flow.
  • Flexible repayments. You have the option to make your repayments monthly, quarterly, half yearly and annually.
  • Online banking. Benefit from the online, mobile and phone banking offered by Bankwest. You will always have access to your money, whether you’re at home or on the go.
  • Set the rate. You are able to select the date your preferred interest rate rises in order to suit the cash flow needs of your business.
  • Fixed to variable. You can maintain your account number and automatically roll into a business low-rate loan, which is variable, at the end of your fixed-rate term.

How much does the loan cost?

The following fees are associated with this loan:

  • A one-off application fee that is dependent on the amount you’re applying for.
  • A monthly fee of $20.

It’s important to keep these fees in mind. You will receive a loan schedule that outlines your interest rate and your fees once you have been approved for the loan. There may be more or less fees once you have been approved for the loan.

How to apply for the Bankwest business fixed-rate loan

In order to apply for this loan with Bankwest, you need to click on ‘Go to Site’ and ensure you have the following documents ready:

  • Current business and personal financials, such as a business plan, tax statements and your current assets and liabilities for you and your business.
  • Proof of the security that you’re offering for the loan, whether it’s a commercial or residential property.
  • Photo ID, such as a driver’s licence, if you are a non-Bankwest member and are applying for this loan.
  • Two forms of identification, such as your Australian driver’s licence, your Medicare card, your birth certificate or a passport from any country. You can have your identity verified in an Australian Post shop if you are unable to get to a branch.

Your business can benefit from flexible repayments with this loan from Bankwest. However, make sure you compare other options and determine which one is right for your business needs.

Comparison of other business loans

Whilst we don't directly compare Bankwest Business Fixed Rate Loan, compare other business loans offering similar features.

Rates last updated August 18th, 2018
Name Product Min Loan Amount Max. Loan Amount Loan Term Application Fee Product Description
NAB QuickBiz Loan
$5,000
$100,000
1 to 3 years
$0
An unsecured business loan from $5,000 that can be processed in 1 business day.
Valiant Finance Business Loan Broker
$5,000
$1,000,000
0.25 to 5 years
$0
A Small Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 60 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.
Moula Business Loan
$5,000
$250,000
0.5 to 2 years
$0
Small business loans of up to $250,000 approved and funded within 24 hours.
Transparent fees and rates. Note: Business must have been operating for at least 6 months and have monthly sales of at least $5,000.
Spotcap Loans
$10,000
$400,000
0.25 to 2 years
$0
Take advantage of a fixed interest rate and no upfront fees with this business loan, available up to $400,000. Note: Business must have been operating for at least 18 months and have turnover over $200,000.
Lending Express Business Loans
$5,000
$500,000
0.25 to 2 years
$0
Apply online for up to $500,000 and get access to over 25 lenders through Lending Express.
Ferratum Business Loan
$2,000
$150,000
0.5 to 1.5 years
2.5% origination fee
Competitive business loans from $2,000 based on your business’ cash flow.
Prospa Business Loan
$5,000
$250,000
0.25 to 2 years
$0
Apply for up to $250,000 and receive your approved funds within one business day. Note: Businesses must have a turnover of more than $6,000 per month and provide 6 months of trading history or 3 months history if you've purchased an existing business.
OnDeck Business Loans
$10,000
$250,000
0.5 to 2 years
2.5% origination fee
Apply online for up to $250,000 with OnDeck and receive approved funds in one business day. Note: Minimum annual turnover of $100,000 and must be able to demonstrate 1 year of trading history.

Compare up to 4 providers

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