Commissions Guide: Bendigo Bank (Commercial)
This Commissions Guide article relates to Bendigo Bank Commercial loans.
Connective will maintain this guide to the best of its ability but cannot guarantee that the information within is complete, and/or in line with the latest guidance and policies of the lender. If you believe anything is missing or inaccurate, please contact us.
Upfront Commission Rates
Upfront Commission based on the maximum approved limit
Smartsuite Commercial loans
| ex GST | inc GST |
Upfront | 0.6% | 0.66% |
Trail | 0.25% | 0.275% |
Commercial Finance
Aggregate facility limit of a Customer’s Commercial Finance Facilities under an Application | ex GST | inc GST |
Credit $0 - $1,000,000 | Nil | Nil |
Credit $1,000,000 - $3,000,000 | 0.55% | 0.605% |
Credit $3,000,000 + |
| 50% of the Establishment Fee or negotiated with BDM |
Overdraft |
| The relevant rate applicable to 'Credit' |
Debtor Finance Facility |
| 50% of Facility Limit |
Trade Finance |
| 50% of Facility Limit |
Rural Bank Finance
Aggregate facility limit of a Customer’s Commercial Finance Facilities under an Application | ex GST | inc GST |
Credit $0 - $1,000,000 | Nil | Nil |
Credit $1,000,000 - $3,000,000 | 0.55% | 0.605% |
Credit $3,000,000 + |
| 50% of the Establishment Fee or negotiated with BDM |
Overdraft |
| The relevant rate applicable to 'Credit' |
Consumer Finance
| ex GST | inc GST |
Upfront | 0.65% | 0.715% |
Trail Commissions
| ex GST | inc GST |
Smartsuite Commercial | 0.25% | 0.275% |
Commercial Finance | 0.25% | 0.275% |
Rural Bank Finance | 0.25% | 0.275% |
Consumer Finance | 0.15% | 0.165% |
No Trail payable for Overdrafts, Debtor Finance and Trade Finance
Trail Commission by applying the daily equivalent of the relevant rate to the amount outstanding in respect of that Account at the end of each day
All payments are made monthly in arrears by the middle of the following calendar month
Trail Commission is not payable while an Account remains in default for sixty (60) days or more. During this period, Trail Commission does not accrue and does not become payable
Clawbacks
| 0 - 12 Months | 13 - 18 Months |
Commercial Finance | 100% | 50% |
Rural Bank Finance | 100% | 50% |
Consumer Finance | 100% | 50% |
No clawback provision for Smartsuite loans