Australian Military Bank Variable Rate Personal Loan Review

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Main points to consider with this personal loan

This unsecured personal loan comes with a variable interest rate from 8.99% p.a. The rate you receive depends on your credit history. You can apply for between $5,000 and $40,000 and choose loan terms of up to 7 years.

No fees apply if you repay your loan early or make extra repayments, but a $0 monthly fee applies as well as an application fee of $150.

Features of the Australian Military Bank Variable Rate Personal Loan

This personal loan comes with a number of features, including:

Tailored interest rate. This personal loan comes with a variable rate from 8.99% p.a. and is dependent on your credit history.
Loan amounts. You can apply for between $5,000 and $40,000, so the loan is suitable for a range of budgets and borrowing needs.
Flexible repayment structure. You can choose your repayment frequency – weekly, fortnightly or monthly – and you can make extra repayments or pay off your loan early if you are able. Loan terms up to 7 years are available.
Redraw facility. If you've made additional repayments towards your loan you can access these using the loan's redraw facility.
Salary repayment option. You can choose to make repayments directly from your salary.

What fees apply to this personal loan?

You will be charged the following fees:

$0 monthly fee
Application fee of $150

How you can apply for the Australian Military Bank Variable Rate Personal Loan

You can start your online application by clicking "Go to Site". Make sure you meet the following eligibility requirements before submitting your application:

You're over the age of 18
You're a citizen or permanent Australian resident
You're currently employed or receive a regular income
You have had good credit history for the past five years

If you meet these eligibility criteria you can start the application. You will need the following information on hand to complete it:

Employment details including your income and your most recent payslip
Details of your assets including vehicles, shares, savings and super
Information regarding debts such as credit card limits and other loans

Keep in mind you will need to become a member of Australian Military Bank when applying for this personal loan. You will receive your indicative interest rate when you apply.

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2 Responses

MattFebruary 7, 2019

I am on age pension and family allowance payments. I am self-employed under ABN and casually drive a taxi. I am married with 4 children under 12y.o. Wife not working, at present. I have no payslips only tax returns. Like to borrow up to 40,000 if possible for a bigger car and household improvements like furniture and school fees. Can afford to pay 850 per month fortnightly on direct debit from my pension and family allowance payments and top up from taxi income if necessary. Please advise how much I can borrow over 7 yrs.

Finder

JoshuaFebruary 17, 2019Finder

Hi Matt,

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

If you want to apply for a loan from Australian Military Bank, you would need to be currently employed or you must receive a regular income. You also need to have a good credit history for the past five years. If you believe that you meet these requirements, you may want to directly get in touch with the Australian Military Bank to learn more.

If you’d like to check your other options, there are brands that consider pensioners for a loan along with their conditions. See our list of pensioner loans to compare lenders who may consider you. You can click the name of the lender to learn more about their loan offer. When you are ready, you may then click on the “Go to site” button if available to be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

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

Have a wonderful day!

Cheers,
Joshua

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Australian Military Bank Variable Rate Personal Loan

Borrow from $5,000 up to $40,000. Interest rates are tailored based on your credit score.

Main points to consider with this personal loan