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If you’re in the market for a personal loan you may feel overwhelmed by the number of loan types, lenders, rates and fees that there are to compare and choose from. You want to choose a loan where you feel secure and where your needs are met, plus you want to be confident that you are getting the best range of features on the market. A personal loan from a bank might be able to offer you the features you need and if you choose your current bank you will be taking advantage of the convenience of having all of your accounts in one place.
Bank loans work in the same way as personal loans from other lenders. The main difference with bank loans is that because the bank is usually a larger lender you may have certain advantages that you would not get with other loans.
These features include the ability to bundle your loan with other financial products, access to more physical branches to manage your loan and online banking access. It is also more convenient to get a loan if you already have your existing financial products with the same bank.
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NAB offers a fixed interest rate loan. Use your loan for a holiday, home improvement, a special project or even a wedding. It’s even a smart way to take control of your credit card debt.
Banks offer a wide range of personal loan products to meet most borrowing needs. Here are some of the loan products which you can expect to find at a bank:
People sometimes choose to get a loan from their current bank without comparing their options online, simply because this seems like an easy way to go about accessing credit. To ensure you get the best value loan, shop around to see what other options are available and then choose the loan that best suits your needs.
Compare your bank loan options using the comparison table above. Once you have found the right loan for you, click the ‘Go to site’ button to be securely transferred over to the bank’s online application form. Depending on the bank you choose, you will have to submit different details as part of the application process. However, lenders will generally require personal and financial details including details of your income, assets and liabilities. To secure a personal loan from a bank in Australia you will need to be over the age of 18, be a permanent Australian resident and have a good credit rating.
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