Business Overdrafts

You know your business but are you paying too much to manage your cashflow needs. We detail the overdraft options below.

Kiwibank
58458
Business Overdraft
Interest Rate (p.a.)

7.50%

Establishment Fee

Minimum of $75.00

Monthly Overdraft Fee

0.10% per month ($5.00 minimum)

Unarranged overdraft fee: $10 per month

ASB Bank
58459
Business Overdrafts
Interest Rate (p.a.)

9.13%

Establishment Fee

Up to 1.00% of the approved limit. Minimum $25.00

Monthly Overdraft Fee

0.12% of the limit or the highest daily overdrawn balance, whichever is the greater. Minimum $5.00

Unarranged overdraft fee: 0.12% of the highest daily overdrawn balance. Minimum $10.00

Bank of New Zealand
58460
MyMoney for Business
Interest Rate (p.a.)

8.9% plus margin

Establishment Fee

From $100

Monthly Overdraft Fee

$8.50

Unarranged overdraft fee: 0.15% per month ($5.00 minimum)

  • MyMoney for Business is specifically for small businesses with an annual turnover of less than $1 million.
Nelson Building Society
58461
Commercial Overdraft Facility (Arranged)
Interest Rate (p.a.)

Starting from 9.95% p.a.

Establishment Fee

1.00% (minimum charge $25.00)

Monthly Overdraft Fee

0.18% (minimum charge $5.00) of the limit

Unarranged overdraft fee: 0.25% (minimum charge $20.00) of the highest daily limit

ANZ Bank
58462
ANZ Business Overdraft
Interest Rate (p.a.)

10.60%

Establishment Fee

A minimum amount of either $75 or 1% of the approved credit limit or increase, whichever is greater

Monthly Overdraft Fee

0.12% (minimum $5 a month)

Unarranged overdraft fee: $5.00

Westpac
58463
Westpac Business Overdraft
Interest Rate (p.a.)

19.95% p.a

Establishment Fee

From $400 per loan/facility

Monthly Overdraft Fee

-

Unarranged overdraft fee: $9.00

The Co-operative Bank
58464
Overdraft Arranged
Interest Rate (p.a.)

17.50% p.a.

Establishment Fee

$25.00

Monthly Overdraft Fee

$3.50

Unarranged overdraft fee: $10 per unauthorised month

Nelson Building Society
58465
Commercial Overdraft Facility (Unarranged)
Interest Rate (p.a.)

Starting from 9.95% p.a.

Establishment Fee

1.00% (minimum charge $25.00)

Monthly Overdraft Fee

0.25% (minimum charge $20.00) of the highest daily limit

Unarranged overdraft fee: 0.25% (minimum charge $20.00) of the highest daily limit

Bank of New Zealand
58466
First Transact
Interest Rate (p.a.)

10.2% p.a. plus margin

Establishment Fee

From $100

Monthly Overdraft Fee

Pay as you go: No fee - $10 or $20 plan

Unarranged overdraft fee: 0.15% per month ($5.00 minimum)

Bank of New Zealand
58467
Business First on Call
Interest Rate (p.a.)

10.2% p.a. plus margin

Establishment Fee

-

Monthly Overdraft Fee

-

Unarranged overdraft fee: $5.00 for any month overdrawn

The Co-operative Bank
58468
Overdraft Unarranged
Interest Rate (p.a.)

22.00% p.a.

Establishment Fee

$25.00

Monthly Overdraft Fee

$3.50

Unarranged overdraft fee: $10 per unauthorised month

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