bankmecu Share Loan
Get the finance you need at a competitive rate with the bankmecu Share Loan.
- Bankmecu recently rebranded and changed their name to BankAust
The bankmecu Share Loan is an option for when you come across hard financial times and need to borrow money, without worrying about substantial interest rates or heavy fees.
The interest rate of 13.24% p.a. is competitive offer and the interest is calculated daily so that you see the benefits from your loan repayments right away. This rewards you for making payments on time and helps you to pay off your loan in less time.
- Ethical Investor recognised this bank as Australia’s most sustainable small company of the year in 2010.
Things to consider about the bankmecu Share Loan
In addition to a competitive interest rate, bankmecu's Share Loan has no annual fee and offers 24/7 access to your accounts through online and telephone banking services. You can also take advantage of a salary crediting system to have your repayments deducted from your paycheck deposited directly into your Share Loan account.
bankmecu offers other choices of personal loans with competitive interest rates, including loans for home improvements or property investments. With the Share Loan, it is not designed to be used for any one specific purpose as you can borrow it for any purpose.
Features of the bankmecu Share Loan
- Variable interest rate. This loan has a competitive interest rate of 13.24% p.a.
- Fees. Administration fees apply, but the loan does not attract any annual fees and there are also no fees for any account transactions.
- Easy account access. You have access to your account 24/7 from anywhere, on the phone or Internet and customer service is just a click or phone call away.
- Salary direct deposit. Simply give your payroll admin your bankmecu account number to arrange to have a portion of your salary put directly towards your balance. This may help you better manage your repayments and you may even pay your loan sooner.
- Repayment savings. Interest is calculated daily, helping you pay off the loan much quicker.
- Quick approval process. Once you have submitted an application, bankmecu will get back to you within 24 to 48 hours.
How to apply for the bankmecu Share Loan
Be sure that you meet all the eligibility requirements in order to have your application accepted. If you meet these basic requirements, click 'Go to Site' to get started.
You must be aged 18 or over, be gainfully employed and have a good credit history to be approved for this loan. You must also be able to prove your citizenship or permanent residency.
You'll also need to provide the following information as part of your application:
- Personal details. These will include your name, address and phone number. You should submit a copy of your driver's licence and you may be asked to supply a copy of your passport, birth certificate or other documentation proving your citizenship or permanent residency.
- Employment details. You will be asked to prove your employment status by providing your employer's name, address and phone number. You may be asked to provide copies of your last two paycheque.
bankmecu's Share Loan is an easy, affordable way to borrow money quickly and easily. However, make sure to compare bankmecu's rates and terms to other personal loans to find a loan that works best for you and your financial situation.
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.