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IMB Secured Personal Loan

Matt Corke
Matt Corke
Last updated:  

A competitive secured loan that can help you finance that unsecured purchase

This loan from IMB lets you take advantage of the benefits of a secured loan in order to finance an unsecured purpose, such as paying for a holiday or even undertaking home renovations. For a competitive fixed rate you can use the loan amount for anything you choose, you just need to attach a new or used car as a guarantee. Borrow up to $60,000 and make whatever dream you have a reality.

3 things you should know about this loan

  • Use it for any purpose. While this loan is secured, you can use the funds for any purpose you need.
  • Competitively priced. This loan comes with a fixed rate of 6.45% p.a. and there are no monthly fees.
  • Security is required. IMB requires you to secure a vehicle as a guarantee for this loan. It needs to be a new or used vehicle up to six years of age.

6.45% (fixed)

Interest Rate (p.a.)

6.80%

Comparison Rate (p.a.)

$2,000

Min Loan Amount

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Details

Product NameIMB Secured Personal Loan
Interest Rate (p.a.)6.45% (fixed)
Comparison Rate (p.a.)6.80%
Interest Rate TypeFixed
Min Loan Amount$2,000
Max. Loan Amount$60,000
Loan SecuritySecured

Main points consider with the IMB Secured Personal Loan

You're able to borrow between $2,000 and $60,000 to finance a range of purposes. This loan is secured, and IMB requires that you secure it with a new or used vehicle up to six years of age. This loan can be used to purchase the vehicle you use to secure. There's no ongoing account-keeping fees across the term of the loan, which can be for a period of between 1 year to 5 years. When you apply for this loan you'll lock in a fixed rate for the duration of the term. This rate is currently 6.45% p.a.

What features come with this loan?

  • Loan amount. You're able to borrow between $2,000 and $60,000
  • Interest rate. This loan comes with a fixed interest rate of 6.45% p.a. and a comparison rate of 6.8% p.a.
  • Loan purpose. This loan can be used to finance a range of worthwhile purposes – from renovations to holidays.
  • Loan term. You're able to borrow the money for a period of between 1 year to 5 years.
  • Repayments. Repayments are fixed and need to be made monthly. You're also able to make additional repayments to help pay back your loan early, which you can do without an early termination fee.
  • Loan repayment insurance. If you want to protect yourself against the unexpected, you have the option of taking out loan repayment insurance with IMB. You can finance your premium into your loan and there are three levels of cover available.

Fees to consider

How to apply

If you're interested in applying for this secured loan, click 'Go to Site' to get the application process started. Before you do, check you meet the eligibility criteria outlined below and also see what documents will be required to apply.

Eligibility criteria

To apply for this loan, you must be:

  • Be over the age of 18
  • Have a good credit history
  • Have a monthly income
  • Be willing and able to put up a new or used car under six years old as security

Required information

Have the following information and documentation handy for your application:

  • Your email address
  • Details of your income and employment, including your current and previous employer's details
  • Information regarding your assets, expenses and liabilities

The IMB Secured Personal Loan lets you make a purchase you've been waiting to make, and lock in a competitive fixed rate to pay it back. Compare this loan to other similar ones before you apply to make sure it's the right option for you.

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Important Information*
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ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 10.5% p.a.
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NAB Personal Loan Unsecured Fixed

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. Application fee of $150 waived off for applications submitted by 31 March 2021.

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SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
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37 Comments

    Avatarfinder Customer Care
    John
    November 26, 2018

    Hi Alvin,

    Thank you for reaching out to finder.

    You may want to check this page out to see a selection of lenders that you could choose from on taking out a personal loan. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

    Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

    Cheers,
    Reggie

    Reply
    Default Gravatar
    Karen
    November 9, 2018

    HI My son is 19 and wants an unsecured personal loan for $5000 at the cheapest rate of interest and establishment fees for a holiday. He is a full time apprentice.
    I am having trouble finding this information.
    Kind regards,
    Karen

    Reply
      Avatarfinder Customer Care
      John
      November 9, 2018

      Hi Karen,

      Thank you for reaching out to finder.

      You might want to check this finder page for a comparison of unsecured loans that you could make a choice from based on the preferences you mentioned. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

      Reply
    Default Gravatar
    george
    September 28, 2018

    how much per fortnight for 15000 secured loan over 7 yrs and what max age of vehicle

    Reply
      Avatarfinder Customer Care
      Joshua
      September 30, 2018

      Hi George,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      If you are interested in IMB Secured Personal Loan, you might want to note that their maximum loan term is five years. Moreover, your fortnight payment would depend on your terms and conditions. Just remember too that their loan comes with a fixed rate of 6.89%.

      To get a more specific quote, please contact the lender directly. You may also want to consider reviewing the criteria, details of the loan product, and its conditions. From there, you can discuss your loan options and eligibility.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

      Reply
    Default Gravatar
    Primali
    July 29, 2018

    Please send me a quotation for Loan amount AUD 8000.

    Reply
      Default Gravatar
      Nikki
      July 30, 2018

      Hi Primali,

      Thanks for reaching out.

      To get a quotation from IMB Secured Personal, simply click the GO TO SITE button and it will automatically redirect you to their page.

      You may also check for more options on personal loans on this page.
      We also have a personal loan calculator that you can use to help you see what your monthly repayments will be, and how much interest you will pay over the life of the loan.

      Hope this was helpful. Feel free to message should you have further questions.

      Regards,
      Nikki

      Reply
    Default Gravatar
    Erin
    July 11, 2017

    What will my total repayments be after 5 years.

    Reply
      Default Gravatar
      Jonathan
      July 13, 2017

      Hi Erin!

      Your repayments would depend on the amount you borrowed, the duration of your loan, fees and the rate involved. :)

      We recommend that you talk to IMB loan specialist to confirm your computation.

      Hope this helps.

      Cheers,
      Jonathan

      Reply
    Default Gravatar
    Gerard
    March 24, 2017

    Hi,

    Regarding the IMB Secured Personal Loan. I am looking to purchase a used boat large 1986 cruiser through a marine broker. Will the age of the affect the interest rate? 7.39% still apply?

    Thanks.

    Reply
      Avatarfinder Customer Care
      Dee
      March 27, 2017

      Hi Gerald,

      Thanks for your question.

      Please note that with IMP Secured Personal Loan, one of the criteria for the security is that it should be a new or used vehicle up to six years of age. If your security meet this criteria and you are approved for this loan, you’ll lock in a fixed rate for the duration of the term. This rate is currently 7.39% p.a.

      You may also compare other motor boat loans here.

      Cheers,
      Anndy

      Reply
    Default Gravatar
    Sis
    October 13, 2016

    My daughter needs to get a personal loan of $15000 over 5 years to repay some debt after a divorce. She is a single mum of 2 on a pension and works part time 25 hours per week. She owns a 1 year old car worth $35000 that she can use to secure the loan but I was wondering if I could go guarantor for her if her earnings do not qualify her to cover the loan.

    Reply
      Avatarfinder Customer Care
      Elizabeth
      October 13, 2016

      Hi,

      IMB do not currently accept applications where a personal loan guarantor is required. However, they do accept applications from casual employees as long as your daughter has been in her role for at least 12 months.

      You can also review some other options on this page and this page.

      Hope this helps,

      Elizabeth

      Reply
    Default Gravatar
    Dan
    October 3, 2016

    Hi, i am looking to buy a motorcycle in a private sale which is less than 2 years old. Firstly is it possible to get a new car loan for this or are they specifically for cars? Secondly whether i get a new car lon or a secured personal loan is the money transferred straight to the person or sale or can i have it put into my own account so i can pay with a bank cheque?
    Thank you

    Reply
      Avatarfinder Customer Care
      Elizabeth
      October 4, 2016

      Hi Dan,

      Both new and used bikes up to six years old can be financed with the IMB Secured Personal Loan, but the car loan is specifically for cars.

      In terms of paying out your loan, IMB can pay the funds directly to the seller or you can pick up an IMB cheque in-branch.

      Hope this helps,

      Elizabeth

      Reply
    Default Gravatar
    Kristy
    September 22, 2016

    Hi, Am I able to use a family members car that is under 5 years old as security? like a Guarantor as my car is older than 5 years.

    Reply
      Avatarfinder Customer Care
      Elizabeth
      September 22, 2016

      Hi Kristy,

      Unfortunately the vehicle needs to be registered in your name. You can compare your other secured personal loan options on this page.

      Hope this helps,

      Elizabeth

      Reply
    Default Gravatar
    Carolyn
    August 31, 2016

    Is my Superannuation considered security if I am past the age of maturation?

    Reply
      Avatarfinder Customer Care
      Elizabeth
      August 31, 2016

      Hi Carolyn,

      Unfortunately, secured personal loans must be secured with either a new or used vehicle (up to 6 years of age). Superannuation is generally not considered as security for most lenders, but you may find some alternative lenders willing to use it as security.

      Thanks,

      Elizabeth

      Reply
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