Canstar has revealed the 2019 Business Loans and Overdrafts Star Ratings after rating 81 products from 16 lenders on the Canstar database.
Overall, 8 business term loans and 9 overdrafts received a 5-Star Rating in this year’s release.
Canstar’s Business Loans and Overdrafts Star Ratings use a sophisticated and unique ratings methodology that compares both cost and features across business loans. Our star ratings create a shortlist of products to help consumers narrow their search, with 5-Stars indicating products that provide outstanding value to small business customers.
Canstar Research has rated six types of business loans and overdrafts:
ANZ | Suncorp Bank |
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Heritage Bank | Suncorp Bank |
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ANZ | Bankwest | Suncorp Bank |
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Heritage Bank | Westpac |
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ANZ | Bank of Queensland | Bankwest |
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Bank of Melbourne | Bank of Queensland | Bank SA | St George Bank |
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These products are rated based on their comparative pricing and features offered. To arrive at a total score, Canstar applies a weight against the price and feature scores, which will vary from customer profile to profile. For more information about the weighting, refer to the methodology document.
Canstar Research considers the following features when determining a business loan or overdraft’s score:
Canstar considers the following loan amounts for this Star Ratings:
Star Ratings in this table were awarded May 2022. Data is updated daily. Current rates and fees are displayed and may be different to what was rated. The initial table display is sorted as stated before the table. The search results do not include all providers and may not compare all features relevant to you. View the Canstar Business Loans Methodology. The rating shown is only one factor to take into account when considering products.
This advice is general and has not taken into account your objectives, financial situation, or needs. It is not personal advice. Consider whether this advice is right for you, having regard to your own objectives, financial situation and needs. You may need financial advice from a suitably qualified adviser. For more information, read Canstar’s Financial Services and Credit Guide (FSCG) and our detailed disclosure. Canstar may receive a fee for referring you to a product provider – for further information, see how we get paid.
Canstar is a comparison website, not a product issuer, so it’s important to check any product information directly with the provider. Consider the Product Disclosure Statement (PDS), Target Market Determination (TMD) and other applicable product documentation before making a decision to purchase, acquire, invest in or apply for a financial or credit product. Contact the product issuer directly for a copy of the PDS, TMD and other documentation.
Canstar is an information provider and in giving you product information Canstar is not making any suggestion or recommendation about a particular credit product or loan. If you decide to apply for a credit product or loan, you will deal directly with a credit provider, and not with Canstar. Rates and product information should be confirmed with the relevant credit provider. For more information, read the credit provider’s key facts sheet and other applicable loan documentation for that product. Read the Comparison Rate Warning.
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This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you. Consider the product disclosure statement and target market determination before making a purchase decision. Canstar provides an information service. It is not a credit provider, and in giving you information about credit products Canstar is not making any suggestion or recommendation to you about a particular credit product. Research provided by Canstar Research AFSL and Australian Credit Licence No. 437917.