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Bank Australia Car Loan

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Bank Australia Car Loan

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Application Fee
$150
Interest Rate (p.a.)
7.95% (fixed)
Comparison Rate (p.a.)
8.16%
Max Loan Amount
$100,000

Summary

Help save the earth while saving money with a low interest car loan that offsets your car's carbon emissions.

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On top of a competitive interest rate, Bank Australia lets you use your car loan to do something good for the environment.

In this guide

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  • Details
    • Product details
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Details

Product details

Product Name Bank Australia Car Loan
Interest Rate (p.a.) 7.95%
Comp. Rate (p.a.) 8.16%
Interest Rate Type Fixed
Min Loan Amount $1,000
Max Loan Amount $100,000

Factors to consider before taking out the Bank Australia Car Loan

With the Bank Australia Car Loan, you can finance a new or used vehicle up to seven years old at a fixed interest rate of 7.95% p.a. The loan comes with a one-time establishment fee of $150 but no annual fees. You can make extra repayments whenever you like and car and loan protection insurances can also be arranged.

Features of the Bank Australia Car Loan

  • Discounted interest rate for green vehicles. The current fixed interest rate is 7.95% p.a. with a comparison rate of 8.16% p.a., but you will receive a 1% rate discount if you use a low emission vehicle.
  • No establishment fee for safe and green vehicles. If your vehicle has a 5-star ANCAP safety rating or a 7+ star greenhouse safety rating you will not pay the $150 establishment fee.
  • Your vehicle's greenhouse gas emissions will be offset. For the duration of the loan, the greenhouse gas emissions produced by your vehicle will be offset by Bank Australia.
  • Loan term. The loan term is flexible. Up to 7 years for a new car purchase and five years for a used car.
  • Loan amount. There are no stipulated loan limits as each loan application is individually assessed.
  • Repayment options. You can make extra repayments at no additional cost and save on interest payments when you repay your loan sooner than the contracted term.

Fees and charges to consider

An establishment fee of $150 applies, but this fee is waived for vehicles that meet a 5-star ANCAP rating and/or a 7+ greenhouse rating.

How to apply for the Bank Australia Car Loan

To apply for a Bank Australia Car Loan, click on the green “Go to Site” button on this page. Then, simply fill out the bank’s online application form to be considered for your loan. Before you do so, make sure you fulfil these requirements:

  • Age. You must be at least 18 years of age.
  • Residency. You must be an Australian citizen or permanent resident.
  • Income. You must have a regular income.
  • Financial standing. You must have no history of bankruptcy.

You will also be required to provide the following:

  • Identification. This includes details of your passport or driver’s licence or your Medicare card.
  • Personal information. This includes personal details such as your date of birth and residential history.
  • Financial information. This includes details pertaining to your assets, existing loans and monthly expenses.
  • Employment. This includes details of your current job and income.

With competitive rates and fees, the Bank Australia Car Loan promises to benefit both your pocket and the earth. To ensure this is the right loan for you, make sure you compare all your car loan options before applying.

Compare car loan providers

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1 - 7 of 106
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
loans.com.au - New - Variable Rate Special
Variable3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
6.24%
to 7.74%
Comp. Rate (p.a.)
7.36%
to 8.85%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$630.83
Go to siteMore Info
OurMoneyMarket New Car Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
NRMA New Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
7.29%
to 16.99%
Comp. Rate (p.a.)
8%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$635.67
Go to siteMore Info
Note: Take out a loan for an eligible electric vehicle and receive a 1.5% discount on your personalised interest rate (interest rates start from 5.79% p.a. and comparison rates from 6.49% p.a.)
Stratton Finance New Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteMore Info
You'll receive a fixed rate from 6.52% p.a. depending on the lender you are approved with.
Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
OurMoneyMarket Used Car Loan - No Vehicle Age Limit
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
NRMA Used Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
8.49%
to 16.99%
Comp. Rate (p.a.)
9.21%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$647.01
Go to siteMore Info
You'll receive a fixed rate from 8.49% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
Stratton Finance Used Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteMore Info
You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a.
A used car loan of up to $300,000 with quick approval times and balloon payment options.
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Elizabeth Finder

Lead Editor

Hi there, looking for more information? Ask us a question.

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Thomas

October 13, 2017

I am looking at getting a personal loan for approx. $25000.

Where do I start to commence?


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Judith Finder

October 13, 2017

Hi Thomas,


Thank you for contacting Finder.


You can use our comparison table, with a list of personal loans, to help you find the right lender for you. You can enter the $25,000 next to the loan amount and select your preferred repayment term to see your projected monthly repayment.


Please click the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.


To improve your chances of getting approved for a loan, please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant PDS/ T&Cs of the loan option before making a decision and consider whether the product or option is right for you.


I hope this helps.


Best regards,

Judith


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