🎂 Turned 31 this year? Get health insurance before your price rises.
Get cover

Bank Australia Lifestyle Personal Loan

Enjoy flexible financing and long loan terms with a Bank Australia Lifestyle Personal Loan.

The Lifestyle Personal Loan from Bank Australia comes with fast approval, and it's unsecured, so you don't have to offer any assets as security. The loan also comes with a competitive variable rate and the ability to made additional repayments, helping you to pay off your loan sooner. Extended loan terms of up to 10 year(s) are also on offer.

Once you apply for this Lifestyle Personal Loan, you can be approved in as little as 24 hours.

Product NameBank Australia Lifestyle Personal Loan
Interest Rate (p.a.)11.89% (variable)
Comparison Rate (p.a.)12.94%
Interest Rate TypeVariable
Min Loan Amount$1,000
Loan SecurityUnsecured


  • No security required
  • Extra repayments without penalty
  • Loan term of 10 years


  • $150 establishment fee

Things to consider about the Lifestyle Personal Loan

Bank Australia Personal Loans are flexible and are available in a wide array of products designed to meet the specific financial needs of customers. This personal loan is unsecured, meaning you won't have to risk your assets, and comes with a competitive variable rate of 11.89% p.a.. You can use the loan for whatever purpose you need and you can apply for as little as $1,000. The loan comes with an establishment fee of $150.

Features of the Lifestyle Personal Loan

  • Competitive rates. This loan comes with a competitive variable rate of 11.89% p.a..
  • Flexible repayment options. You're able to repay weekly, monthly or fortnightly repayments so it suits your budget.
  • Repay the loan early. You can make extra repayments and repay the entire loan early without penalty.
  • Loan amount. You can borrow amounts as little as $1,000, making it suitable for a range of purposes.
  • Long loan term. This loan comes with a maximum loan term of 10 year(s), which is considerably longer than what is offered elsewhere.

How to apply for a Bank Australia Personal Loan

Applying for a Bank Australia Personal Loan is simple and straightforward. If you want to apply, click "Go to Site’" to submit your application. You'll need to meet the following eligibility criteria to apply:

  • Be an Australian citizen or permanent resident
  • Have not been bankrupt
  • Be over the age of 18
  • Are receiving a regular income

The following documents will be required:

  • ID. Your driver's licence, Medicare card or passport.
  • Income. Gross before-tac and net after-tax salary information.
  • Employment. Where you work and your employer's contact details.
  • Liabilities. Loan balances, repayment amounts, credit card or overdraft limits
Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

12 Responses

  1. Default Gravatar
    FrankieMarch 29, 2018

    Do I have to open a Banks Australia transaction account if I apply for a lifestyle personal loan?

    • Staff
      MayMarch 29, 2018Staff

      Hi Frankie,

      Thank you for your inquiry! No, even if you don’t have a Bank Australia transaction account, you can still apply for the Lifestyle Personal Loan. You’ll get approved for the loan if you meet all the eligibility criteria set by the bank.


  2. Default Gravatar
    deeNovember 3, 2017

    I have two credit cards and a personal loan, would it be possible to get another personal loan to consolidate the credit cards?

    • Default Gravatar
      JonathanNovember 4, 2017

      Hi Dee,

      Thank you for your inquiry. We understand that you wanted to put them altogether in one repayment plan.

      Generally, this is allowed as long as you meet the lender qualifications and your credit worthiness is sufficient. You may compare your options for debt consolidation. Eligibility requirements and loan agreement vary on each lender, so you may want to read through their Terms and Conditions and/or speak to a loan specialist prior getting one.

      On that page, we have three tabs that give you a selection whether to choose a personal loan, a credit card or bad credit loans. Take note that your choice would depend on your underlying circumstances and needs. If you need further advice, you may consult a personal loan broker.

      Hope this helps.


  3. Default Gravatar
    LouOctober 1, 2017

    For consolidation loans, to consolidate credit cards, so I need statements for each card going back 6 months? Just trying to get any documentation together before applying.

    • Default Gravatar
      MariaOctober 2, 2017

      Hi Lou,

      Thank you for reaching out to us.

      It’s possible that you’d be asked to supply your credit card’s statements from which the debt would be consolidated from.

      However, as the requirements are different between lenders, it would be best to read the details, as well as the Product Disclosure Statement/ Terms and Conditions of the option and confirm the exact documents needed directly from them.

      Also, you may find useful information on this page on Debt Consolidation.

      I hope this helps.


  4. Default Gravatar
    scottJuly 31, 2017

    Would like to consolidate my loan and credit card and get a little extra for a couple of things to get done at home.

    • Staff
      LiezlJuly 31, 2017Staff

      Hi Scott,

      Thanks for reaching out.

      You may check our comparison page here for the debt consolidation options available. Please make sure you confirm that you meet the eligibility criteria before you submit your application, as rejected loan applications can have a negative impact on your credit score.


  5. Default Gravatar
    March 20, 2015

    is there any bank who gives loan on newstart allowance

    • Staff
      ShirleyMarch 20, 2015Staff

      Hi Ash,

      Thanks for your question.

      If the sole income is from Centrelink benefits, you’ll find that most banks are not willing to consider the application.

      Generally you need to have a supplementary source of income, from employment, a joint application or a guarantor.


  6. Default Gravatar
    MatthewNovember 29, 2014

    How long does a bankmecu personal loan take to be approved?

    • Staff
      ShirleyDecember 1, 2014Staff

      Hi Matthew,

      Thanks for your question

      Once you have submitted your application, bankmecu will generally have an answer for you within 24-48 hours.


Ask a question
Go to site