Receive an interest rate tailored to you with this personal loan. Apply for amounts from $1,000.
This unsecured personal loan from Australian Military Bank comes with a number of convenient features, including a redraw facility and the option to make additional repayments or repay your loan early without penalty. You can apply for between $1,000 and $80,000 and choose loan terms up to 7 year(s).
Find out more about this personal loan to decide if it's right for you in this review.
| Product Name | Australian Military Bank Variable Rate Personal Loan |
|---|---|
| Interest Rate (p.a.) | From 7.88% (variable) |
| Comparison Rate (p.a.) | 8.72% |
| Interest Rate Type | Variable |
| Min Loan Amount | $1,000 |
| Max. Loan Amount | $80,000 |
| Loan Security | Unsecured |
Main points to consider with this personal loan
This loan comes with a variable interest rate from 7.88% p.a. The rate you receive depends on your credit history. You can apply for between $1,000 and $80,000 and choose loan terms of up to 7 year(s).
No fees apply if you repay your loan early or make extra repayments, but a $10 monthly fee applies as well as an application fee which varies from $100 to $500.
Features of the Australian Military Bank Variable Rate Personal Loan
This personal loan comes with a number of features, including:
- Tailored interest rate. This personal loan comes with a variable rate from 7.88% p.a. and is dependent on your credit history.
- Loan amounts. You can apply for between $1,000 and $80,000, so the loan is suitable for a range of budgets and borrowing needs.
- Flexible repayment structure. You can choose your repayment frequency – weekly, fortnightly or monthly – and you can make extra repayments or pay off your loan early if you are able. Loan terms up to 7 years are available.
- Redraw facility. If you've made additional repayments towards your loan you can access these using the loan's redraw facility.
- Salary repayment option. You can choose to make repayments directly from your salary.
What fees apply to this personal loan?
You will be charged the following fees:
- $10 monthly fee
- Application fee from $100 to $500
How you can apply for the Australian Military Bank Variable Rate Personal Loan
You can start your online application by clicking "Go to Site". Make sure you meet the following eligibility requirements before submitting your application:
- You're over the age of 18
- You're a citizen or permanent Australian resident
- You're currently employed or receive a regular income
- You have had good credit history for the past five years
If you meet these eligibility criteria you can start the application. You will need the following information on hand to complete it:
- Employment details including your income and your most recent payslip
- Details of your assets including vehicles, shares, savings and super
- Information regarding debts such as credit card limits and other loans
Keep in mind you will need to become a member of Australian Military Bank when applying for this personal loan. You will receive your indicative interest rate when you apply.
I am on age pension and family allowance payments. I am self-employed under ABN and casually drive a taxi. I am married with 4 children under 12y.o. Wife not working, at present. I have no payslips only tax returns. Like to borrow up to 40,000 if possible for a bigger car and household improvements like furniture and school fees. Can afford to pay 850 per month fortnightly on direct debit from my pension and family allowance payments and top up from taxi income if necessary. Please advise how much I can borrow over 7 yrs.
Hi Matt,
Thanks for getting in touch with Finder. I hope all is well with you. :)
I assume that you want to apply for a loan from Australian Military Bank. If this is the case, I won’t be able to give you a specific answer to your question since we don’t represent Australian Military Bank. However, please note that for you to be eligible for this loan, you would need to be currently employed or you receive a regular income. You also need to have a good credit history for the past five years. If you believe that you meet these requirements, you may want to directly get in touch with Australian Military Bank to learn more.
Moreover, since you mentioned that you are on age pension, you might have limited options. Not all lenders provide their service to pensioners. To learn more, please read our guide. On that page, you will see some of the brands that consider pensioners for a loan along with their conditions. On the same page, you will also learn other loan options available for pensioners.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua