Business

Description : Prudent now offers small business operators a loan secured against their residential home specifically for business purpose eg purchasing a commercial property or a business. A Business Purpose Loan can operate as a stand-alone facility or included as a separate sub-account within a standard Prudent Home Loan.

Loan Amount – Minimum $50,000
Loan Amount – Maximum $300,000
LVR – Maximum 85%
Loan Term – Maximum 40 Years
Repayment Types Principal and Interest or Interest Only
Interest Rate Type Variable or Fixed
Interest Only Options 1 – 10 years
Fixed Interest Options 1 – 5 years
Repayment Methods Direct Debit, salary credit
Additional Repayments Yes, without penalty
Split Loan Accounts Yes
Redraw Yes
Telephone and Internet Access Yes
Bpay in Yes
Ongoing Administration Fees No
Deposit Book / Deposit Card Yes
Loan Portability Yes
Outward third party direct debits to pay bills, and credit card sweeps
Yes