SWS Bank 5-year variable Car Loan Review
- Application Fee
- $0
- Interest Rate (p.a.)
- 5.79% (variable)
- Comparison Rate (p.a.)
- 5.79%
- Max Loan Amount
- $200,000
Summary
A closer look at the fees, features and suitability of SWS Bank’s new vehicle loan.
The SWS Bank 5-year variable Car Loan is a secured loan designed specifically for new vehicles. It features a competitive variable interest rate, flexible loan terms, and no fees. This loan can be used whether you’re buying a car, caravan or float, but vehicles must not be over 3 years old. Early repayment is allowed with no penalty.
Pros
-
There is no application fee or establishment fee
-
There are no ongoing service fees
-
Borrowers can make extra repayments without penalty
Cons
-
This loan is only available for new cars under 3 years old
Details
Product details
| Product Name | SWS Bank 5 Year Variable Interest Vehicle Loan |
| Interest Rate (p.a.) | 5.79% to 5.79% |
| Comp. Rate (p.a.) | 5.79% to 5.79% |
| Interest Rate Type | Variable |
| Min Loan Amount | $1,000 |
| Max Loan Amount | $200,000 |
Main points to consider with a SWS Car Loan
South West Slopes 5 year variable car loan comes with its most competitive interest rate of 5.79% p.a. and a minimum comparison rate of 5.79% p.a.
You can apply for between $1,000 and $200,000 with a loan term of 5 years. This loan is suitable for vehicles including cars, caravans and floats. The vehicle must be less than 36 months old.
Features of a SWS 5-year variable car loan
To be eligible you need to:
- Car age: This loan is only available for borrowers buying a car less than 36 months old.
- Extra repayments: Borrowers can make additional repayments towards their loan for no cost.
- Loan term: This car loan is a 5 year term.
- Loan amount: You can borrow from as little as $1,000 to a maximum of $200,000.
- No fees: This loan has no application fee or establishment fee. It also charges no ongoing fees.
- Redraw: Borrowers can redraw from their extra repayments.
Fees to consider with this loan
This loan has minimal fees but some may still apply:
- $0 application fee
- $0 monthly/annual fee
- $0 late payment fee
- $0 redraw fee
- $0 early repayment fee
How to apply for a South West Slopes car loan
You can apply for this loan online or in a South West Slopes branch.
To be eligible you need to:
- Be over 18 years old.
- Be living in Australia.
- Be an Australian citizen or permanent resident.
- Become a member of SWS Bank.
During the application process you will need to provide details of your income and any other debts.
Your reviews
Rebecca Finder
Senior Money Writer
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