Business loan interest rates: what lenders publish
The base moves with the market; the margin is what you negotiate
Business loan interest rates are a lender's base rate plus a margin for your security, size and risk, and there is no comparison rate because business lending sits outside the National Credit Code. On 30 September 2026, CommBank published secured business loans from 7.29% p.a. and Westpac from 7.91% p.a., while unsecured online loans started at 12.84% p.a. (CommBank) and 12.95% p.a. fixed (NAB QuickBiz). Online lenders price higher again, so compare the total cost in dollars, fees included.
Business loan rates lenders publish
Starting rates and fees as each lender published them on 30 September 2026, the day the RBA's 0.25 point rise took effect, so variable rates may change as lenders pass it on. A starting rate is for the strongest file; your rate adds a margin for your security and risk.
| Lender | Product | Published rate | Fees published | Security and size |
|---|---|---|---|---|
| CommBank | BetterBusiness Loan, secured | Variable from 7.29% p.a. | One-off establishment fee; 0.49% p.a. redraw balance fee on redraw over $100,000 | Residential, rural or commercial property; from $10,000 |
| Westpac | Business Loan | Variable from 7.91% p.a. | Monthly service fee from $14; establishment and other fees apply | Borrow from $10,000; interest-only or principal and interest |
| Westpac | Business overdraft | Variable from 8.11% p.a. | Line fee 1.20% p.a. of the total limit | Margin depends on the security |
| CommBank | Business overdraft | Secured from 8.75% p.a.; unsecured from 14.80% p.a. | Line fee 1.70% p.a.; one-off establishment fee | Unsecured limits to $250,000 |
| Liberty | Low doc business loan | From 9.20% p.a. | Establishment fee $1,950 or 1.25% of the loan, whichever is greater; $30 a month service fee | Commercial or residential property; $50,000 to $2M |
| CommBank | BetterBusiness Loan, unsecured | Online variable from 12.84% p.a. | Establishment and service fees apply | None; to $250,000 over up to 7 years |
| NAB | QuickBiz unsecured loan | Fixed 12.95% p.a. | $0 upfront and ongoing fees | None; $5,000 to $250,000 over up to 5 years |
| Earlypay | Invoice finance | 7.99% to 13.95% p.a. on the balance | Drawdown or administration fees may apply | The invoices |
| Shift | Business overdraft | 14.95% to 24.95% variable APR | $495 or $795 annual fee by limit | Assessed on linked bank data; $10,000 to $2M |
| Lumi | Business line of credit | From 15.5% APR | No ongoing or early repayment fees | Unsecured options; up to $1M |
Rates are the lenders' published figures, not offers, and change without notice; check the lender's own page before relying on one. APR figures are the lenders' own annual percentage rates.
What is the monthly payment on a $50,000 business loan?
Over 3 years, about $1,567 a month at 8% p.a., close to the banks' secured starting rates, and about $1,685 at 13% p.a., close to their unsecured online rates, before fees.
Business loan repayments over 3 years, by rate
| Loan amount | Monthly repayment at | |||
|---|---|---|---|---|
| 8%p.a. | 10%p.a. | 13%p.a. | 16%p.a. | |
| $20,000 | $627 | $645 | $674 | $703 |
| $50,000 | $1,567 | $1,613 | $1,685 | $1,758 |
| $100,000 | $3,134 | $3,227 | $3,369 | $3,516 |
| $250,000 | $7,834 | $8,067 | $8,423 | $8,789 |
| $500,000 | $15,668 | $16,134 | $16,847 | $17,579 |
Scroll the table sideways for more rates
Illustrative monthly principal and interest repayments over 3 years, before fees and charges. Rates are examples, not offers; your rate depends on the lender and your circumstances. Add the establishment fee and any monthly, line or annual fee to compare lenders on total cost. Run your own numbers.
Business loan lenders a broker can compare rates across
The lenders in our directory that write business loans, with a link to each lender's profile. A broker prices your file across the lenders on their panel, including the banks above.
| Lender | Products | Current rate |
|---|---|---|
| Australia and New Zealand Banking GroupMajor bank | Products:
| Current rate: ANZ rate card (opens in a new tab) |
| Commonwealth Bank of AustraliaMajor bank | Products:
| Current rate: CommBank rate card (opens in a new tab) |
| National Australia BankMajor bank | Products:
| Current rate: NAB rate card (opens in a new tab) |
| Westpac Banking CorporationMajor bank | Products:
| Current rate: Westpac rate card (opens in a new tab) |
| BankSAMajor-bank brand | Products:
| Current rate: BankSA rate card (opens in a new tab) |
| Suncorp BankMajor-bank brand | Products:
| Current rate: Suncorp Bank rate card (opens in a new tab) |
| ING AustraliaTier-2 bank | Products:
| Current rate: ING rate card (opens in a new tab) |
| Macquarie BankTier-2 bank | Products:
| Current rate: Macquarie rate card (opens in a new tab) |
| IMB BankCustomer-owned | Products:
| Current rate: IMB rate card (opens in a new tab) |
| La Trobe FinancialNon-bank | Products:
| Current rate: La Trobe Financial rate card (opens in a new tab) |
| Liberty FinancialNon-bank | Products:
| Current rate: Liberty rate card (opens in a new tab) |
| RedZedNon-bank | Products:
| Current rate: RedZed rate card (opens in a new tab) |
Inclusion is editorial reference, not a recommendation. Rates change often, so we only show a rate we captured from the lender's own page in the last 60 days, with a link to that page; otherwise we link to the lender's rate card where it publishes one. The broker you are matched with compares the lenders on their own panel.
See all 22 business loan lenders- Rates are built as a base rate plus a margin: Westpac and BankSA publish base or indicator rates with a margin depending on security; NAB publishes prime rates and bank bill pricing periods
- Three pricing bases: variable (moves with the base), fixed (reverts to variable base plus margin at the end, Westpac) and bank bill (resets off the swap rate, NAB)
- No comparison rate: business lending is outside the National Credit Code, so compare total cost in dollars including establishment and line fees
- Published starting rates on 30 September 2026 ran from 7.29% p.a. secured (CommBank) to 12.84% to 12.95% p.a. unsecured at the banks, and 15.5% APR on Lumi's line of credit
- What moves the margin: security type, LVR, trading history, financials, industry and credit; a 2% to 3% spread within one lender is normal
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans, a loan of $30,000 over 5 years for car and personal loans, and $50,000 over 5 years for equipment finance, unless the lender states another basis.
How is a business loan interest rate set?
As a base rate plus a margin. The base is the lender's published reference rate for that product and moves with its funding costs; the margin is the loading for your security, size and risk, and is the part that is negotiated.
Westpac publishes its business loan rates this way: an Overdraft Business Rate and a Small Business Overdraft Rate as bases, a 30-day bank bill rate as the base for invoice finance, and a note that a margin may apply depending on the type of security. BankSA publishes indicator rates to which a margin is added, and NAB a business overdraft prime rate, a QuickBiz prime rate and bank bill pricing.
The starting rates in the table above are the rates for the strongest profile; what none of the lenders publish is the rate you will get, because the margin is set on the file.
Fixed, variable or bank bill?
| Pricing basis | How it moves | What lenders publish | Best suited to |
|---|---|---|---|
| Variable | Rises and falls with the lender's base rate; repayments change | Westpac: repayments rise and fall with the rate; IMB publishes variable business rates by security type | Loans you may repay early or draw down and repay, such as overdrafts and lines of credit |
| Fixed | Held for an agreed term, then reverts | Westpac: reverts to a variable base rate plus any margins current at the time; ING commercial: fixed 1 to 5 years, extra repayments under $20,000 a year without break costs; NAB QuickBiz fixed for the term | Term loans and equipment where you want certainty on repayments |
| Bank bill | Resets off the bank bill swap rate each pricing period | NAB publishes pricing periods under and over 3 months; Westpac uses a 30-day bank bill rate for invoice finance | Larger commercial loans where the borrower wants market pricing and can manage resets |
What else do lenders publish about their rates?
Checked against each lender's published business rates page on 20 September 2026, with the CommBank and Westpac rows updated on 30 September 2026. The point of this table is what each lender discloses about how its rates are built.
| Lender | What the rates page publishes | Margin disclosure | Other published detail |
|---|---|---|---|
| NAB | Business overdraft prime rate, QuickBiz prime rate, bank bill pricing for periods under and over 3 months, business card cash advance rates of 21.74%, 16.50% and 13.99% | Customer margin applied to the prime rate on the file | Secured and unsecured business loans, terms 30 days to 15 years; QuickBiz overdraft to $50,000 |
| Westpac | Base rates: Overdraft Business Rate, Small Business Overdraft Rate, 30-day bank bill rate for invoice finance; business loans variable from 7.91% p.a. | A margin may apply depending on the type of security | Fixed loans revert to variable base plus margin at the end of the term; overdraft line fee 1.20% p.a. of the total limit |
| BankSA | Indicator rates by product; commercial loan rate marked no longer for sale; overdue rate | Margin added to the indicator rate | Westpac Group brand; same structure as St.George and Bank of Melbourne |
| IMB Bank | Variable business loan rates listed by security type | Built into the listed rate by security | Mutual; residentially secured business loans priced lowest |
| Suncorp Bank | Does not publish a single business lending rate on its overdraft page | Quoted on application | Overdraft: variable, no set term, interest on the used portion, 0.75% p.a. line fee |
| CommBank | Starting rates for secured and unsecured business loans and overdrafts (see the table above) | Rate on the file above the starting rate | Unsecured overdraft $2,000 to $250,000; one-off establishment fee; 1.70% p.a. line fee |
| ING (commercial property) | Fixed and variable, rate on application | Not published | Fixed 1 to 5 years reverting to variable; loans $500,000 to $8M |
| Emu Money (broker guide) | Commercial property rates from about 6.05% to above 14%, April 2026 | 0.25% to 0.75% saved per 10% of LVR; 2% to 3% spread within one lender | Explains pricing by LVR, property type and borrower profile |
What is a good rate, by product?
Because the rate follows the security, the honest answer is a range per product rather than a single number. In order of published cost, lowest first:
- Property-secured business loans. Closest to home loan pricing: CommBank publishes secured business loans from 7.29% p.a. and Westpac from 7.91% p.a., and Emu Money's commercial range starts at about 6.05% for low-LVR property.
- Commercial property loans. From about 6.05% at low LVR to above 14% on specialised or low-doc files (Emu Money, April 2026). See the commercial property loans guide.
- Vehicle and equipment finance. Fixed for the term and secured by the asset; Westpac publishes up to 1% off for an electric vehicle and CommBank a 1% green discount, which shows how much the asset type moves the rate.
- Secured overdrafts and lines of credit. Base rate plus a security margin, plus a line fee on the limit: Westpac overdrafts from 8.11% p.a. with a 1.20% p.a. line fee, CommBank secured overdrafts from 8.75% p.a. with 1.70% p.a.
- Unsecured term loans and fintech cash flow loans. The widest spread, priced on trading history and bank statements rather than security: 12.84% p.a. (CommBank online) and 12.95% p.a. fixed (NAB QuickBiz) at the banks, and higher at the online lenders. See unsecured business loans.
- Business credit card cash advances. The dearest published major-bank rate: NAB 21.74%, 16.50% and 13.99% by card.
What moves your rate up or down?
| Factor | Effect on the margin | Published evidence |
|---|---|---|
| Security offered | Largest single lever: property, then vehicles and equipment, then unsecured | CommBank: secured business loans from 7.29% p.a. against unsecured from 12.84% p.a.; Westpac: margin depends on the type of security |
| Loan-to-value ratio | Lower LVR, lower margin | Emu Money: 0.25% to 0.75% saved per 10% reduction in LVR |
| Trading history and financials | Two years of clean financials and a clear ATO position price best; under 12 months trading narrows the field | CommBank overdraft page notes conditions for businesses trading under 12 months; NAB QuickBiz requires 12 months under the current ABN |
| Loan size and term | Larger loans on longer terms access bank bill pricing; short unsecured loans carry the highest rates | NAB: bank bill pricing periods; terms 30 days to 15 years |
| Asset type | Green assets discounted; specialised property loaded | Westpac up to 1% off for EVs; CommBank 1% green discount; Emu Money on specialised property risk |
| Cash rate and funding costs | Moves the base, not the margin | RBA publishes lenders' rates 5 business days after month end; cash rate target raised to 4.60% effective 30 September 2026 |
Comparing offers without a comparison rate
Ask each lender for four numbers: the rate and whether it is fixed, variable or bank bill; the establishment fee; the ongoing line, service or annual fee; and the cost of repaying early.
Put them into the business loan calculator over the period you expect to hold the loan, not the contract term, and compare the total in dollars. A loan with a lower rate and a 1.70% line fee on a limit you rarely use can cost more than a slightly dearer loan with no line fee.
A broker does this across lenders in one pass and negotiates the margin, which is the only part of the rate that moves for you. See what a business loan broker does.
Business lending guides
Products, security and the cost of each.
Business loan interest rate FAQs
What interest rates are banks charging on business loans?
What is a good interest rate on a business loan?
What is the monthly payment on a $50,000 business loan?
Why is there no comparison rate on business loans?
How are business loan interest rates calculated?
What is the difference between fixed, variable and bank bill rates?
Do business loan rates follow the RBA cash rate?
What fees sit on top of the interest rate?
Why did my business get quoted a higher rate than the advertised one?
Are business loan interest payments tax-deductible?
Find out what your rate would be
Tell us the amount, the purpose and the security you can offer, and a licensed business finance broker prices the file across the lenders on their panel and negotiates the margin. Free to use, no obligation.