Business and rural loan interest rates and fees

Account and Service fees and charges

Some business and rural accounts and facilities may incur other Account and Service fees and charges. 

Establishment fee

An establishment fee for a new facility (including for temporary limits) may be charged.

Monthly overdraft facility fee*

(Arranged overdrafts).

Monthly unarranged overdraft fee

A monthly fee for an overdraft exceeding $20.00 where there is no arranged limit in place.

Commercial Flexible Finance Facility undrawn fee

0.05% (0.60% p.a.) payable monthly on the difference between the average balance and the overdraft limit. If your facility has an average credit balance for the month, the undrawn fee will be charged on the full overdraft limit (minimum charge $5.00 per month).

Rural Credit Facility undrawn fee

This facility is subject to an undrawn fee payable monthly on the difference between the average balance and the overdraft limit. If your facility has an average credit balance for the month, the undrawn fee will be charged on the full overdraft limit. Minimum overdraft limit is $500,000.

Line fee

A facility fee calculated based on the facility limit (line of credit) irrespective of any utilisation of the facility. 

Personal Property Security Registration (PPSR) fee

When we register a security (other than a mortgage) when lending money to you.

Copy of loan history fee

When you request a copy of your loan history held by ASB.

Copy of loan agreement or supporting documents fee

When you request a copy of your loan agreement or any other documents supporting your loan application held by ASB.

LINZ search fee

When a copy of your title is required.

Alterations to security fee

When you request one of the following: 

• the partial release or substitution of the security property
• a transfer of ownership with a new mortgage required
• a transfer of ownership to a trust or company
• a transfer of ownership with a new party to the title
• a land title change with a new mortgage required

Change parties to loan agreement or owners on title fee

When you request one of the following:

• the addition of a new party to the loan facility (but not changing the land ownership)
• the transfer of a loan facility to a new party (but not changing the land ownership)
• the transfer of a land title releasing an owner
• retirement/appointment of a trustee (when no new mortgage is required)

Registrations affecting land titles fee

When you request one of the following that affects the land title:

• Deposit of unit plan
• Easement
• Encumbrance
• Subdivision or cross lease (with no new mortgage required)
• Variation of lease

Priorities fee

When you request one of the following:

• changes to the Memorandum of Priority
• registration of subsequent charges
• deeds of priority or subordination

Settlement statement fee

When we receive a request from your solicitor for a settlement statement as part of releasing your mortgage.

Release of repaid mortgage fee

When you have repaid your business or rural loan in full and the mortgage needs to be released.

Urgent request fee

Urgent requests incur an additional fee. You can make an urgent request for the following:

• Change parties to loan agreement or owners on title
• Registrations affecting land titles
• Priorities
• Settlement statement

Switch fee

When you switch your loan to or from a fixed interest rate. Also commonly referred to as a Refix fee.

Early Repayment Adjustment (ERA) cost

When you have a business or rural loan on a fixed interest rate and you decide to do one of the following:

• move onto the variable interest rate or another fixed interest rate
• pay back your loan during a fixed interest rate period
• make a lump sum payment (we currently allow a minimum of $1,000)

Early Repayment Adjustment administration fee

When you decide to break your fixed interest rate for any of the above reasons.

Local body rates demand notice fee

Charged if we have to make a rates payment on your behalf.

Loan demand fee

When we have to write to you due to the preparation of a formal demand for the repayment of your outstanding debt.