Bank Australia Personal Loan – Homeowner
If you’re a homeowner you can take advantage of lower rates with Bank Australia’s Lifestyle Personal Loan, which can be used for any purpose.
Interest Rate (p.a.)
Comparison Rate (p.a.)
Min Loan Amount
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What to consider about the Bank Australia Lifestyle Personal Loan - Homeowner
This is a personal loan specifically for homeowners. You can make a single or joint application for amounts starting at $1,000, which can be used for any purpose.
Associated fees include an establishment fee of and a dishonour fee for failed direct debits or cheques. No fees are charged if you choose to settle the whole amount before the end of the loan term.
Features of the Bank Australia Lifestyle Personal Loan - Homeowner
If you’re interested in applying for this personal loan, here are some of its features:
- Specifically for homeowners. This is a personal loan exclusively for borrowers who own their homes. During the application process, you’ll be asked to declare your home as one of your valuable assets.
- Choice. This loan can be approved as unsecured or you can declare additional valuable assets – besides your home – as security.
- Lower interest rate. Homeowners benefit from a discounted interest rate of 7.89% p.a.
- Flexibility. You can use the personal loan for any purpose. If you’re using the money to make sustainable home improvements, Bank Australia will waive the establishment fee.
- Fixed payments. Payments are fixed and can be made weekly, fortnightly and monthly. You have the option to make additional payments or settle the whole loan amount without penalty fees.
- Redraw facility. This is Bank Australia’s only personal loan product with a redraw facility. Keep in mind you will be charged a fee of $25 per redraw.
- Loan terms. Loan amounts start at $1,000 and the maximum loan term is 10 years.
- Loan insurance. Loan insurance is available for this product. If you can’t make repayments because of disability, involuntary unemployment or death, the insurance covers outstanding repayments.
How to apply for the Bank Australia Lifestyle Personal Loan - Homeowner
To submit your application, click “Go to Site” on this page. You’ll need to meet the following eligibility criteria:
- Be at least 18 years old
- Be an Australian citizen or a permanent resident
- Earn a regular income
- Be solvent
Before applying, you should have the following information on hand:
- Records of gross and net income, as well as other income sources
- Employer details
- Assets and their approximate values
- Liabilities such as outstanding loans, credit cards and overdraft
- Identification, which can include a driver’s licence, Medicare card or passport
Before clicking “Go to Site”, it’s a good idea to compare similar loan options and make sure that you can afford repayments.
Personal Loan OffersImportant Information*
You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.