That's right.
Given the customer has requested a facility linked to a published market rate, the Market Rate Loan (MRL) is the most suitable product.
The MRL is based off BBSY or the CBA market rate and is suited for clients that want to borrow more than $500k and want a rate that is based off the market as they monitor it on a regular basis. The MRL allows the client to manage their borrowings under one facility limit and pricing consists of a line fee, liquidity fee and a rate reset fee (when the reset period is less than 3 months).
MRL
Rate Build-Up
Reset Fee
Not quite.
While the Commercial Bill is linked to a Market Rate, it is a product that is being discontinued; further, it does not offer visibility online. It is not the ideal product for this business.
Not quite.
A SuperGear product is for lending to Self-Managed Superfunds. It is not to be used for the purposes of construction.
