⚡️⚡️⚡️
With energy prices rising, switch to a cheaper plan
💡
Compare Prices Now
⚡️⚡️⚡️

Hume Bank personal loans

A fixed rate loan with unlimited additional repayments. Interest charges and fees apply.

This personal loan comes with secured and unsecured options. The interest rate is fixed, making it easier to budget for the loan. You can borrow from $2,000 upwards, with a loan term ranging from 1 to 5 years. The loan offers unlimited extra repayments with no fee and unlimited access to the online redraw facility. While the loan doesn’t charge monthly fees, you will be charged an application fee and interest charges.

No reviews yet. Write a review

11.45% (fixed)

Interest Rate (p.a.)

11.67%

Comparison Rate (p.a.)

$2,000

Min Loan Amount

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product NameHume Unsecured Personal Loan
Interest Rate (p.a.)11.45% (fixed)
Comparison Rate (p.a.)11.67%
Interest Rate TypeFixed
Min Loan Amount$2,000
Loan SecurityUnsecured

How does the Hume Bank personal loan work?

This personal loan can be used to fund a new car, or family holidays, weddings, home improvements, debt consolidation or other expenses. The interest rate is fixed, allowing you to budget for the repayments with ease. The loan comes with a secured and unsecured option as well. The interest rate for the secured loan is lower than that of the unsecured loan.  

What features does the Hume Bank personal loan offer?

  • Secured and unsecured options. You can choose to secure the loan with the vehicle you’ve purchased, or residential property to finance personal expenses. Or you can partially secure the loan or opt for the unsecured option. The interest rates for the secured option is lower than for the unsecured loan.
  • Fixed interest. With a fixed interest loan, you know what your monthly repayments will be. Your interest payments will remain consistent no matter the market rate, making it easier to budget for the loan.
  • Terms up to 5 years. Loan terms range from 1 year to 5 years.
  • Unlimited additional repayments. You can make unlimited additional repayments with this loan.
  • Redraw facility. You have access to the free, unlimited redraw facility for your additional payments. You can access it via online banking.
  • No early repayment or break costs. You won’t be charged for making early repayments or for paying off your loan before term.
  • Flexible repayments. You can make weekly, fortnightly or monthly.

How much does the Hume Bank personal loan cost?

There are several costs associated with this loan. These include the following:

  • Loan principal.
  • Fixed interest of 7.45% p.a. (secured) or 11.45% p.a. (unsecured).
  • Application fee of $150.

This loan does not charge monthly or annual account keeping fees. The comparison rate, which includes interest and fees, is 6.16% p.a. for secured or 10.17% p.a. for unsecured.

What are the pros and cons of the Hume Bank personal loan?

Pros

  • Easy to budget. Your interest payments will remain consistent, making it easier to budget for loan repayments.
  • Additional repayments and redraw facility. This fixed rate loan allows you to make penalty-free additional repayments and redraw these payments via the unlimited online redraw facility.
  • No account keeping fees. You won’t be charged either monthly or annual fees to maintain your account. This helps keep down the cost of the loan.

Cons

  • Short loan term. The maximum loan term is 5 years, which is short compared to similar products on the market.

Am I eligible for the Hume Bank personal loan? 

To be eligible for this loan, you must be: 

  • 18 years or older.
  • A citizen or permanent resident of Australia.

How do I apply for the Hume Bank personal loan?

You can apply for the loan through its website or by phone. To apply for the loan, you will need to provide 2 recent payslips, a current statement of any debts, among other documents. You will be contacted within 1 business day of applying.

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 5.35% p.a. and 19.09% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3, 5 or 7 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate between 6.49% p.a. and 15.99% p.a. ( 7.41% p.a. to 16.84% p.a. comparison rate) based on your risk profile
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.95% p.a. and 22.49% 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.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site