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Business Loan Comparison Table

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  Fully Drawn Commercial Loan Commercial Line of Credit
Interest Rates View the latest interest rates View the latest interest rates
Minimum loan amount $20,000 $100,000 if the IMB Commercial Credit Line is opened as a stand alone product and $20,000 if split with an IMB Commercial Fully Drawn Loan
Maximum loan amount Up to $5,000,000 Up to $5,000,000
Minimum loan term 3 years 3 years
Maximum loan term Up to 15 years Up to 15 years
Acceptable security
  • Serviced vacant industrial land
  • Retail Shops
  • Office Suites (Min 40spm)
  • Medical Suites
  • Factories
  • Warehouses
  • Residential
  • Serviced vacant industrial land
  • Retail Shops
  • Office Suites (Min 40spm)
  • Medical Suites
  • Factories
  • Warehouses
  • Residential
Account keeping fee Nil (No monthly, quarterly or annual fee) Annual fee of 0.3%pa of the approved credit limit charged monthly.
Maximum loan to value ratio
  • 80% for acceptable residential security*
  • 75% for acceptable commercial security*
  • 80% for acceptable residential security*
  • 75% for acceptable commercial security*
Further advances
Interest rate type Variable and fixed 1-5 years Variable only
Interest in advance
Interest only option Up to 5 years interest only term 10 years interest only term#
Interest rate Please refer to your BRM Please refer to your BRM
Interest offset facility N/A N/A
Repayment frequency Weekly /fortnightly / monthly Weekly /fortnightly / monthly
Repayment type Principal and interest
Interest only
Principal and interest
Interest only
Additional payments
Up to 25% of the original loan amount in the first 3 years. 2 months interest is charged on the original loan amount at original interest rate if greater than 25% repaid in the first 3 years. Unlimited after 3 years.
Early repayment 2 months interest on the original loan amount at original interest rate if loan is partly or fully discharged with first 3 years. 2 months interest on the original loan amount at original interest rate if loan is partly or fully discharged with first 3 years.
Rental income accepted
Redraw
Account access Branch, phone banking, internet banking IMB cash card, Visa debit card, cheque book, phone banking, internet banking
Progress drawing $250 per inspection $250 per inspection
Self servicing securities Please refer to your BRM Please refer to your BRM
Split loan
Statement frequency Quarterly Quarterly
Borrowing entities Australian Residents over 18 years of age, companies and trusts. Non residents – please refer to your BRM Australian Residents over 18 years of age, companies and trusts. Non residents – please refer to your BRM
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#After which your credit limit will be progressively reduced and repayments will include any interest accrued and any amounts owing in excess of your new credit limit. *Restrictions apply to certain areas.This information is correct at time of printing. IMB accepts no liability for any errors or omissions. Normal IMB terms and conditions, fees and charges apply. IMB Ltd trading as IMB Bank. ABN 92 087 651 974. AFS Licence No. 237 391. IMBL8342. V150609

 

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