BankVic Personal Loan

No monthly fees or early exit fees and unlimited extra repayments. Interest charges and fees apply.

BankVic’s unsecured personal loan comes with a variable interest rate of 9.95% p.a. With a variable rate, your interest payments can fluctuate on a monthly basis based on the market rate. While the loan does not have monthly fees, you will have to pay an application fee and interest charges.

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From 9.95% (variable)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Min Loan Amount

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Product NameBankVic Personal Loan
Interest Rate (p.a.)
From 9.95% (variable)
Comparison Rate (p.a.)10.08%
Interest Rate TypeVariable
Min Loan Amount$500
Max. Loan Amount$60,000

How does the BankVic Personal Loan work? 

This personal loan is unsecured and does not require an asset as loan security. The interest rate is variable and may fluctuate depending on the market rate. This means that your interest payments could be higher or lower based on the market rate. This can make predicting and budgeting for repayments difficult. You can use the loan funds for various expenses such as home renovations, travel, investment, events or to consolidate debt. 

What features does the BankVic Personal Loan offer? 

  • Unsecured loan. This loan is unsecured and does not require an asset as collateral for the loan. As a result, interest rates are higher and borrowing amounts smaller. 
  • Variable rate. Your interest repayments are variable, meaning that your repayments may fluctuate based on the market rate.  
  • Flexible repayments. You can make weekly, fortnightly or monthly repayments, based on what works for you. 
  • Unlimited extra repayments. You can make as many extra repayments as you want at no added cost. 
  • No early repayment fees. You won’t have to pay a penalty if you repay the loan early.
  • No monthly fees. You won’t be charged monthly or annual service fees.

How much does the BankVic Personal Loan cost? 

The costs associated with this loan include: 

  • Loan principal
  • Interest charges of 9.95% p.a.
  • Application fee of $90

This loan does not charge monthly service fees. The comparison rate, which includes fees and interest charges, is 10.08% p.a.

What are the pros and cons of the BankVic Personal Loan? 


  • No monthly fees. This loan does not charge monthly fees, helping keep down the cost of the loan.  
  • Additional repayments and no early exit fees. You can make extra repayments and repay the loan early without having to pay a penalty. 


  • Higher interest rate. Compared to a secured loan, unsecured loans have a higher interest rate. This makes the loan more expensive.

Am I eligible for the loan?

To be eligible for the loan, you need to: 

  • Be over the age of 18 
  • Be a BankVic member or be eligible for membership 
  • Have no history of defaulting on loans, bankruptcy or insolvency
  • Have enough income to repay the loan 

How do I apply for the loan? 

You can apply for the loan online, through the BankVic website. The application will take around 10 minutes to complete. You will need to provide membership details or join to apply for the loan. You will also need to provide an Australian driver’s licence or passport, details on income, employment and living expenses, assets and debts. Keeping your documents in hand can help speed up the process.

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