Rural Overdraft Facility

All businesses have their ups and downs - an overdraft facility stays in place, giving you access whenever you need it. There are no fixed repayments, and you will only pay interest on what you use.

  • Helps smooth out cash flow fluctuations
  • Stays in place - use it as often as you need to
  • Only pay interest on what you use
  • No fixed repayments

An overdraft facility maybe the solution for you if you have gaps in supply and payment, or the need to purchase materials in advance. Unlike a commercial term loan, you only pay interest on what you use, and you can pay it of (and re-use it) when required.

  • An agreed overdraft facility limit is attached to your transaction account.
  • Spend anywhere within this limit
  • Interest is calculated daily and charged monthly on the amount you have been overdrawn during the month.

Interest rates and Terms & Conditions for NBS Commercial Lending are determined on a case by case basis. Talk to your NBS lending specialist.

 

  • An agreed facility limit is attached to your transactional account
  • No fixed repayments, only paying interest on what you use
  • Normal transaction fees will apply on your account

Rural Overdraft Facility

Interest rates start from                                                       9.95% p.a.
Interest is calculated daily on any overdraft funds used and charged on the last day of the month. Should you become overdrawn without an arranged limit, the interest rate is charged at 25.00% p.a.
Interest rates are subject to change.
Interest rates for NBS Commercial Lending are determined on a case by case basis. Talk to your Agribusiness Manager.

 

Rural Overdraft Fees

Overdraft Establishment Fees 1.00% (minimum charge $25.00)
Overdraft Facility Fee (Arranged) 0.18% (minimum charge $5.00) of the limit
Overdraft Facility Fee (Unarranged)                                                                                     0.25% (minimum charge $20.00) of the highest daily limit
Default Interest Rate 10.00% p.a. above annual interest rate
Default Administration Fee $25.00
Unarranged Excess Fee 0.25% (minimum charge $20.00) of the highest daily limit
Dishonour Fee $30.00
Insurance Arrears Payment $15.00
Rates Arrears Payment $25.00
Motor Vehicle Security Variation/Security Swap Fee $30.00
Duplicate Statement Fee $15.00
Overdrafts are calculated daily, debited monthly on the last business day of each month. Normal Transaction fees will apply on your account. Fees are subject to change.
  • Minimum overdraft limit - $500.00
  • Maximum overdraft limit - subject to your ability to meet credit and debt servicing criteria
  • We may need some security, such as residential property, commercial property or business assets
All lending is subject to NBS lending criteria, as well as the terms and conditions for each specific product. Establishment fees and service charges apply. These are available from any NBS branch.