Insurance Premium Finance is designed to assist businesses pay their annual insurance premiums and/ or other premiums.
- Minimum borrowing limit of $2,000, with no maximum limit.
- Term of three to ten months.
- Two months repayment to be provided on draw down.
- Loan is repaid on a monthly basis.
- Statements are issued quarterly. Other frequencies are available but fees will apply.
- Loan top-up option is available.
- Smooths business cash flow by paying premiums in instalments.
- Ability to make additions to existing loans or renew policies without the need for additional paperwork.
- No ongoing loan service fees.
- Interest charges on premium funding are generally tax deducible.
- Fixed interest rate minimises adverse impact of interest rate fluctuations.
- Flexibility of structuring the loan including upfront deposit, split settlements and payment options.
- Multiple insurance policies can be attached to a single premium finance contract, allowing for a single payment plan to cover all insurance coverage.
- Provision of relevant financial information for BSP's assessment purposes.
For more information, please call our BSP Customer Contact Centre on 132 888 or (679) 3214 300 or send your query through the Contact Us page.
Insurance Premium Finance Brochure
Wednesday, July 15, 2020