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If you're struggling to repay your personal loan, you can get in touch with the bank directly or read our guide.
If you're struggling to repay your personal loan, you can get in touch with the bank directly or read our guide.
Bank Australia (formerly known as bankmecu) is Australia's first customer owned bank. They offer two types of personal loans, a Lifestyle Personal Loan which you can use for various purposes, and a Lifestyle Personal Loan specifically for homeowners. This is an unsecured loan, with loan limits up to $50,000. The loans have a variable rate, which means that your repayments could change from month to month. While both loans are similar, the loan for property owners has a lower interest rate. It starts from 7.89% and its uses are limited to personal purchases or investments. The personal loan has wider uses but features a higher interest rate starting from 9.89% p.a, and an establishment fee of $150.
Bank Australia also offer a range of credit cards, with interest starting at 9.39% p.a.
Bank Australia offer the following types of personal loans for borrowers looking to renovate their home or fund a holiday and everything in between.
In addition to the features offered with their personal loan products, Bank Australia also offers you the convenience of applying online. Before you begin, check to make sure that you meet the following eligibility requirements:
If you are able to meet these requirements proceed to the online application by clicking apply. You should have the following documentation close by for easy reference:
With a discounted interest rate and the choice of a fixed or variable rate, the Bank Australia Premium Home Loan Package has a long list of features.
The Bank Australia Bridging Loan is suitable for property investors and owner-occupiers thanks to its competitive interest rates and features. You don’t have to wait until your current property is sold to acquire a new one.
Bank Australia’s Basic Home Loan is an option for those on a tight budget, but still looking to borrow money for a new home. This flexible loan offers a competitive interest rate, no monthly fee, repayment and redraw capabilities.
Hi I am after a personal loan… I am on Centrelink benefits and also maintenance payments but I have no dependents… are you able to help me with the best possible outcome and lender to go to
Hi Rebecca,
Thanks for leaving a question on Finder.
You can check our list of Centrelink loans. This page provides a list of lenders that will consider a loan for people on parenting payments.
Please click the name of the lender to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will 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.
Finding out about alternative loans while unemployed is also useful. These includes the No Interest Loans scheme (NILs) and the StepUP Program to help give eligible borrowers access to affordable finance.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Cheers,
Joel
Interested in personal loan to fix my car as i have two sick children my credit rating is good I have no debts only applying for a small amount I receive disability pension , carers allowance, and family tax a and b
Hi Lauren,
Thanks for your question.
Please note that finder.com.au is an online comparison service and is not a product issuer. If you would like to discuss your eligibility or options with bankmecu, please get in touch with them directly.
Cheers,
Shirley
Suitable personal loan to fix my car and rego expenses as i am on a disability pension
Hi Lauren,
Thanks for your comment.
As you are on a disability pension, credit options may be limited. We’ve curated a guide that outlines some pensioner loans, but not all, of the options available to you.
I hope this helps.
Cheers,
Matt