Commercial Bills can be an ideal solution when you need a significant
injection of cash – typically above $100,000. Commercial Bill terms normally range from seven to
180 days with a variable or fixed interest rate. There are two types of bills -
Floating Rate Bills & Fixed Rate Bills.
With Floating rates, the drawdown
rate and the term to maturity of the bill are agreed at the time of the
drawdown. The interest rate applicable is determined by the term of the bill.
If the period is extended or rolled over, the interest rate may vary.
Fixed rate bills, the drawdown rate is fixed for the term of the facility and
your interest rate remains constant for the term of the facility, which may
include several rollovers. With variable rate bills, the interest rate is fixed
for each period.
The Business and Commercial loans market is very competitive. If you have
any questions that we can help you with, please call at any time on 1300 79 63
69 or click on the Make an Obligation Free Enquiry link below and one of our experienced
consultants will be in touch with you within 24 hrs.