Discharging or varying your business banking loan

A discharge is the process of removing Macquarie from the title of the security secured against your loan. This typically happens when the outstanding balance of your loan is repaid and the limit is removed.

• A full discharge (or payout) occurs when you repay your loan in full. 
• A partial discharge is an option when you have multiple securities securing the same loan and you want to release one of them without repaying the entire loan amount.

To request either a full or partial discharge for your business banking loan: 

1. Contact your relationship manager. They’ll provide an indicative payout figure for a full discharge or discuss your options for a partial discharge. 
2. Complete the Business Banking Discharge Authority. Note, a credit assessment is required for a partial discharge. Your relationship manager will confirm the specific documentation you need. 
3. Email your completed Business Banking Discharge Authority form to your relationship manager or directly to BFSBBDischarges@macquarie.com. To prevent delays, please ensure the form is filled out completely. 

Break costs may be payable on early repayment during a fixed rate period if:

• the whole or part of a fixed rate account is repaid before the end of the fixed rate term
• the repayments made are more than the minimum amount required during the fixed rate term, or
• the whole or part of a fixed rate account is changed to another type of interest rate, repayment type or fixed rate period.

For an estimate of break costs, please contact your relationship manager before you arrange to repay a fixed rate loan early.