IMB Secured Personal Loan

Rates and fees last updated on

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.

Things to consider about 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(s) and 5 year(s). When you apply for this loan you'll lock in a fixed rate for the duration of the term. This rate is currently 7.39% p.a.

Product NameIMB Secured Personal Loan
Interest Rate (p.a.)From 7.39% (fixed)
Comparison Rate (p.a.)7.74%
Interest Rate TypeFixed
Min Loan Amount$2,000
Max. Loan Amount$60,000
Loan SecuritySecured


  • No penalty for early repayments
  • No ongoing account keeping fees
  • Finance a range of options with your car as security..


  • Minimum loan amount of $2,000
  • Application fee of $250
  • Late fees may be charged

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 7.39% 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(s) and 5 year(s).
  • 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 you need to consider

  • Application fee of $250
  • Monthly fee of $0
  • There is no fee if you choose to close your personal loan account early.

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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This page was last modified on 22 September 2016 at 9:45am.

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28 Responses to IMB Secured Personal Loan

  1. Default Gravatar
    Gerard | March 24, 2017


    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?


    • Staff
      Anndy | 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.


  2. 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.

    • Staff
      Elizabeth | October 13, 2016


      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,


  3. 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

    • Staff
      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,


  4. 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.

    • Staff
      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,


  5. Default Gravatar
    Carolyn | August 31, 2016

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

    • Staff
      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.



  6. Default Gravatar
    Toby | April 12, 2016

    What would be monthly repayment of a loan of $40000?
    Are payments able to be direct debited on a fortnightly basis?

    • Staff
      Elizabeth | April 12, 2016

      Hi Toby,

      Monthly repayments depend on how long your repayment term is – this loan comes with repayment terms of between one and five years. You can use the personal loan repayment calculator on this page to work out your ongoing repayments. You’re only able to repay monthly.



  7. Default Gravatar
    Iffat | April 1, 2016


    My husband and I both wanted to apply jointly. Is that possible? Thanks

    • Staff
      Elizabeth | April 4, 2016

      Hi Iffat,

      You’re able to apply for this loan jointly if you’re married or de facto, so you and your husband will be able to.

      Hope this has helped,


    • Default Gravatar
      | April 4, 2016


      Thank you.

      But on the online application will I be able to do it jointly or should we visit a branch? Thanks

    • Staff
      Elizabeth | April 4, 2016

      Hi Iffat,

      You can submit an online application jointly. Towards the start of the application you will be given the option to select how many people are applying.



  8. Default Gravatar
    David | February 27, 2016

    I have an existing car loan but I do not like the car. I am wanting to purchase a 2013 Mazda CX5 top of range and get cash to pay off existing loan. Then will sell old car and with what I get from sale pay that off the loan to reduce existing loan amount.
    would this be possible through a secure loan.
    Cheers David

    • Staff
      Elizabeth | February 29, 2016

      Hi David,

      Thanks for your question.

      You can use your current vehicle to secure the loan, but IMB would pay out your current loan and the car would be encumbered to IMB. You can sell then sell the vehicle but you would need to use those funds to pay out the loan and then apply for another loan to purchase a new vehicle with IMB – IMB has a new car loan that you may want to consider for this loan.

      I hope this information has helped.



  9. Default Gravatar
    AnnMari | February 20, 2016

    The used car I am interested in buying is 3 yrs old and selling price is $18,999. I have $10k in cash but want to borrow the rest.(or vice versa) Is a secured car loan the best way to do this? And can I purchase the car by splitting between cash and finance? Also can I pay off the loan before the term period and are their any fees applied to doing this?

    • Staff
      Elizabeth | February 22, 2016

      Hi AnnMari,

      Thanks for your questions.

      I’m unable to advise whether a secured loan is a good idea for you – the best financing option will really depend on your own financial situation. A secured loan can reduce your repayments due to a lower interest rate, but you are also risking your car if you default on your loan. It’s important to weigh up all the benefits and drawbacks for yourself before applying.
      In terms of this loan, you’re able to split it between cash and finance and there is no penalty for early repayments with this loan.

      I hope this has helped,


  10. Default Gravatar
    Leanne | February 18, 2016

    Hi, My Lexus is fully owned and insured for $35000 could I use this as security to borrow $10000 for a holiday??

    • Staff
      Elizabeth | February 18, 2016

      Hi Leanne,

      Your Lexus can be up to five years old to be used as a security for this loan and can be used to finance a holiday. If you wish to find out more about this loan or apply, click the green “Go to Site” button on the page above to take you securely to IMB online application.



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