MyState Bank Unsecured Personal Loan

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Get approved for up to $50,000 with a competitive personal loan that doesn’t require security.

MyState Bank offers customers an unsecured loan product that doesn’t require any collateral to secure the loan amount. Interest is variable and when the loan is used for general purposes, the rate starts at 9.99% p.a. This loan can be used for a number of purposes, from buying a new or used car to financing home renovations.

3 things you should know about this loan

  • No security and flexible loan use. This loan is unsecured and you can use the funds you're approved for for any purpose.
  • Make extra repayments. You're able to make additional repayments throughout the loan term and access them if you need to through the redraw facility. Keep in mind there is a $500 minimum redraw as well as a $30 fee for each redraw.
  • High fees. There is a $200 application fee and a $10 monthly fee.

From 9.99% (variable)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Min Loan Amount


Product NameMyState Bank Unsecured Personal Loan
Interest Rate (p.a.)From 9.99% (variable)
Comparison Rate (p.a.)13.51%
Interest Rate TypeVariable
Min Loan Amount$3,000
Max. Loan Amount$50,000
Loan SecurityUnsecured

Factors to consider about the MyState Bank Unsecured Personal Loan

The amount for which you are approved depends on MyState Bank’s evaluation of your personal finances. If approved, you will be charged an application fee, as well as a monthly fee for managing the loan.

The maximum loan period is 7 years (10 years for the secured personal loan option). You can also make additional repayments or even settle the whole loan amount early without penalty. Additional repayments can be accessed through a redraw facility for a fee of $30 per redraw. Loan insurance is available to cover repayments in the event of accident or injury.

Features of the MyState Bank Unsecured Personal Loan

Here are some of the features you can expect with this unsecured personal loan:

  • Easy application. You can apply for this loan online, upload documents and bank statements directly to your application and save an incomplete application form to be submitted later.
  • Financial assessment. Loan approval depends on MyState Bank’s assessment of your bank statements, assets and liabilities.
  • No security. This is an unsecured loan, which means that you won’t be required to use your valuable assets to guarantee the loan amount.
  • Flexibility. This loan can be used for any purpose.
  • Loan terms. You can repay this loan over 1 to 7 years
  • Loan amount. This loan is available from $3,000 up to a maximum of $50,000.
  • Redraw facility. This facility is available for a minimum of $500 per redraw. A fee of $30 is charged for every redraw.
  • Fees. An establishment fee of $200 applies for setting up the loan. Following this, a monthly fee of $10 is charged.
  • Repayment options. You can make repayments on a weekly, fortnightly or monthly basis. If you choose to make weekly or fortnightly repayments, the total must be equal to at least the required minimum monthly amount.

How to apply for the MyState Bank Unsecured Personal Loan

Applications can be submitted online, by telephone or by appointment at a local MyState Bank branch. Keep in mind you need to meet the following criteria to apply:

  • You must be at least 18 years old.
  • You must be an Australian citizen or permanent resident.
  • You must have been employed full-time or part-time for the last three months (or one year if you work casually).
  • You must not have any defaults or bankruptcies in your credit history.

You will also be asked to submit information about your finances, including:

  • Two of your most recent payslips. If you are self-employed, you’ll have to include a copy of your two latest tax returns, including profit and loss statements for the past two financial years and your most recent tax assessment.
  • A list of assets such as vehicles, savings, property and art.
  • A list of liabilities including credit cards, existing loans and outstanding debts.
  • Identification including a passport, ID card or Medicare card.

While the application process is simple and no security is required, this loan still represents a binding financial commitment. MyState Bank won’t approve a loan that you can’t afford, so before applying, explore alternatives to see if you can find terms and rates better suited to your circumstances.

Personal Loan Offers

Important Information*
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Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

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

You'll receive a fixed rate between 10.69% p.a. and 18.69% p.a. ( 11.58% p.a. to 19.53% 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.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 7.5% p.a. and 20.49% 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.

Logo for Pepper Money Unsecured Fixed Rate Personal Loan
Pepper Money Unsecured Fixed Rate Personal Loan

You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.

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  1. Default Gravatar
    April 19, 2018

    Hi, im looking to borrow 6500, i have worked for my employer for over 6 years (part time) but since december 2017 stepped down to casual… Can i still apply with MyState?

    • Avatarfinder Customer Care
      April 19, 2018

      Hi Tony,

      Thanks for getting in touch with finder.

      Unfortunately, MyState requires you to be working at least for a year if your work is casual.

      In case you are looking for other options, you may check out this page.

      On that page, you will see a table that allows you to conveniently compare your options. Once you find the right one for you, click on the “Go to site” green button to learn more or initiate your application.

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

      Have a wonderful day!


  2. Default Gravatar
    July 29, 2017

    I need a loan to pay my debts but I need a cosigner. Could you help me find a lender that would help me?

    • Avatarfinder Customer Care
      July 29, 2017

      Hi Shelia,

      Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      You can have a look on this page for helpful tips and where you can compare your options to consolidate your debts. You may click on your preferred lender to see more details then click on ‘Go to Site’ button to submit an online application.

      Hope this information helped.


  3. Default Gravatar
    June 27, 2017

    I receive social security benefits of a 1600 per month until I graduate from high school next year. i turned 18 the first month of this year, but for June I did not receive my benefit check. The bank closed my account before the end of May,but not enough time change my direct deposit for June. I am out 1600 for this month. I need to pay for things for this month. I need a loan until the bank sends a check what I they took in and kept. Can you help me? It was identity theft.

    • Default Gravatar
      June 27, 2017

      Hi Colette,

      Thank you for contacting We are a comparison website and general information service, we’re more than happy to offer general advice.

      You may refer to this page for options that may suit your needs. You may review and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.

      I hope this helps.


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