2021 Business Loan Star Ratings and Awards

2021 Business Loan Star Ratings and Awards

Canstar has assessed and rated 54 business loan products from 10 providers as part of its Business Loan Star Ratings and Awards.

Products were compared based on both price and features. For the price score, Canstar considered each institution’s pricing for businesses with different levels of risk, as well as the interest rate and fees that apply depending on the loan amount and security.

The features component took into account over 100 product features, including whether the loan is available for a range of purposes and the guarantee and security options available.

Based on this analysis, Canstar has given the top-performing business loans a 5-Star Rating. Products that achieved a 5-Star Rating in at least one borrowing profile were also recognised with an Outstanding Value – Business Loan Award.

Canstar recognises that businesses have different needs and wants. As such, its Business Loan Star Ratings and Awards aim to provide businesses with results that suit their borrowing profile. Canstar considers both term loans and overdrafts, as well as the security type.

Released May 2021

2021 Award Winners

Overdraft - Commercially Secured

Heritage Bank – Business Line of Credit - Non-Residential
St.George Bank – Commercial Overdraft
Westpac – Business Equity Access

Overdraft – Residentially Secured

Heritage Bank – Business Line of Credit – Residential
St.George Bank – Business Maximiser
St.George Bank – Commercial Overdraft
Westpac – Business Equity Access

Overdraft – Unsecured

ANZ – Business Overdraft
Bankwest – Business Zero Overdraft

Term Loan – Commercially Secured

ANZ – Business Loan Variable
Bankwest – Business Low Rate Loan
NAB – Business Markets Loan Variable 180
Suncorp Bank -–Business Essentials – Commercial 10

Term Loan – Residentially Secured

Bankwest – Business Low Rate Loan
Suncorp Bank – Business Essentials – Residential 1

Term Loan – Unsecured

ANZ – Business Loan Variable
NAB – Business Options Prime

Numbers crunched by Canstar Researchers

Read Methodology

Institution_icon1

10

providers assessed

54

products rated

7

Award-winning overdrafts

8

Award-winning term loans

View the results

Award Winning providers

NAB: Outstanding Value Award Winner | Canstar

St George: Outstanding Value Award Winner | Canstar

Westpac: Outstanding Value Award Winner

About Star Ratings

View Current Star Ratings and Awards

View the 2020 Business Loan Star Ratings

Important Information

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.
Before you elect to terminate or modify existing lending arrangements, it is recommended that you consider all associated fees and application costs, as well as the timing and impact these changes could have on your wider financial arrangements and personal circumstances.
The Star Ratings and Award results referred to on this page were published in May, 2021. View the Canstar Business Loan Star Ratings and Award methodology and results for more information. The results do not include all providers and may not compare all features relevant to you. They do not constitute a suggestion or recommendation about any particular business loan product, and Canstar is not providing a recommendation for your individual or business circumstances. Products referred to on this page are not intended to be used for personal, domestic or household purposes.

Star Ratings and Awards are only one factor to take into account when considering products. Current rates and fees may be different to what was rated. Costs, features and other product information should be confirmed with the relevant product provider. If you decide to apply for a business loan, you will deal directly with the provider, not with Canstar. Read our FSCG.