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Interest rate announcement - 12 August 2022. Bank Australia will increase variable home loan and commercial variable rates in response the RBA’s recent decision to raise the official cash rate. From 18 August 2022, interest rates will increase by 0.50% for variable rate owner-occupier and investor loans, while commercial variable rate loans will also increase by 0.50%. For existing home loan customers, repayment changes will be effective from 1 October 2022. Read more here.

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2022-04-28 10:05 am
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Starting a business

Key considerations for when you're in that just-starting-out phase of business development.

What’s on this page

Starting a business is a big undertaking, so you’ll want to have a plan and ensure everything is in place before you get too far down the track.

Government resources

There's some excellent information to assist with starting business at business.vic.gov.au/.

What you might need

  • Business plan
  • Capital
  • Materials
  • Enough money to pay yourself (and any employees) until you start making a profit
  • Office/work space
  • Relevant permits and licences
  • ABN or ACN

Some questions to consider

  • What interest rates are available on my business account?
  • When can I access my money?
  • Is my money safe?
  • What fees and charges apply?