|
|
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 Combination Loan may provide you with the flexibility, simplicity and benefits that you need.
|
What is it?
The National Australia Bank Business Combination Loan commences with an interest only period followed by a principal and interest repayment period.
With the flexibility of fixed or variable interest rates (during both the interest only and the principal and interest repayment periods) and a choice of repayment options, this loan can be tailored to suit your individual business circumstances and cash flow.
This would suit your business if you have an initial capital expenditure program to acquire assets to produce income and then wish to set a firm principal and interest repayment program to match your anticipated cash flow.
Benefits you can enjoy
- 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 - loan repayments can be automatically debited from your National Australia Bank current account.
- 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 and repayment cycles can be set (monthly, quarterly or 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 the relevant fixed rate must have expired first, otherwise a break cost administration fee will be payable and break costs may apply.
|
Important Facts
|
|
Interest rate
|
Available on application |
|
Interest type
|
Fixed or variable |
|
Interest charging
|
Debit interest is charged periodically from the date of drawdown, with the charging cycle being nominated by you (monthly, quarterly and half yearly options available). During the Principal and Interest Repayment period, repayment due dates match the dates when interest is charged. |
|
How is interest calculated
|
Interest only - Debit interest is calculated daily on the outstanding balance up to the day before the loan anniversary date and charged on the loan anniversary date
Repayment period - Debit interest is calculated daily on the outstanding balance up to the day before the repayment is due and charged on the day that the repayment is due
|
|
Minimum term
|
2 years |
|
Maximum term
|
Up to 15 years - subject to annual reviews |
|
Minimum interest only term
|
1 year |
|
Maximum interest only term
|
5 years |
|
Minimum limit
|
$250,000 |
|
Maximum limit
|
Unlimited |
|
Repayment type
|
Initially Interest Only, followed by Principal and Interest reducing repayments |
|
Repayment cycle options
|
Monthly, Quarterly or Half Yearly |
|
Terms and conditions
|
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
|
