bankmecu Home Buyers Personal Loan
bankmecu's Home Buyers Personal Loan offers flexible terms and a competitive fixed rate, giving you fast access to the funds you need for your dream home.
- Bankmecu recently rebranded and changed their name to BankAust
As a homeowner, you may find yourself in need of some quick cash to make essential improvements to your home or to supplement your home loan. There are a few paths you can take to get access to the funds you need, including taking out a personal loan or using your credit card.
Things to consider about the bankmecu Home Buyers Personal Loan
The bankmecu Home Buyers Personal Loan, as the name suggests, is designed for anyone looking to buy a home or perform some home improvements. It offers a competitive fixed rate and a maximum loan term of 10 years. An unlimited redraw facility and telephone and Internet banking are available, while an absence of account-keeping charges is another plus.
If you're looking for a different style of personal loan, bankmecu offers a number of other loans to suit a range of borrowing needs.
Features of the bankmecu Home Buyers Personal Loan
- Loan amount. The amount of money you can borrow varies from one person to the next and is determined by your personal credit rating and how much you need. You can borrow amounts greater than $1,000 with this loan.
- Loan term. Borrowers can take up to a period of 10 years to repay their loan, with the option of increasing this period to 15 years if you are making home improvements.
- Repayment. bankmecu offers flexible repayment options in weekly, fortnightly or monthly instalments. This helps you repay your loan faster and you can decide on which method works best for your budget.
- Additional repayments. You also get the option of making any extra payments on your loan whenever you can. This helps you pay back your loan faster and save on the amount of total interest you pay on the loan.
- Redraw facility. Customers get free unlimited redraw on any extra payments that they make.
- Access to your loan. You can easily check up on your loan amount and keep track of how much you have paid by just checking online or using bankmecu's telephone banking.
How to apply for the bankmecu Home Buyers Personal Loan
If you would like to apply for this loan, all you have to do is click 'Go to Site' to begin your application. Applying is a straightforward process that should take you only a few minutes. You can also send your application to the bank or use telephone banking to get any of your questions answered.
To be eligible for this loan you need to be a legal adult (18 years and above) who is in the process of purchasing a home or is already a home owner. You will need the following documents to apply:
- Personal documents. You are required to provide documents with your legal name, your address and contact information.
- Financial statements. You have to provide information on your current income and any other financial obligations you might have. This includes other loans that you might already have with the bank or any other banks. This helps bankmecu calculate the loan amount you can borrow and shows your ability to repay your loan.
- Proof of ownership. You may also be required to provide documents showing proof of home ownership.
bankmecu's Home Buyers Personal Loan is a viable option for prospective borrowers. However, make sure to compare various personal loans to ensure you end up with the product that best suits your needs.
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.