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 6.69% 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.
|Product Name||IMB Secured Personal Loan|
|Interest Rate (p.a.)||6.69% (fixed)|
|Comparison Rate (p.a.)||7.04%|
|Interest Rate Type||Fixed|
|Min Loan Amount||$2,000|
|Max. Loan Amount||$60,000|
- 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
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 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 6.69% 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 6.69% p.a. and a comparison rate of 7.04% 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 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
- 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.
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
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.