
Get exclusive money-saving offers and guides
Straight to your inbox
Updated
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
If you're struggling to repay your personal loan, you can get in touch with the bank directly or read our guide.
As Australia's first customer owned bank, Bank Australia (formerly known as bankmecu) has been working closely with the community since 1957. With every one of its 125,000 personal customers a shareholder, this cooperative business works with the same standards as a bank, but with greater levels of customer service.
Any profits made by Bank Australia are invested back into the bank and not paid to shareholders like high-street lending institutions. This means it can offer products that have low rates and low fees. No matter what you need, Bank Australia might offer a personal loan that fits your situation.
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.
Fixed interest rate loans give you a defence against rising interest rates. You can choose to have a one, two or three-year fixed interest rate period with the Bank Australia Fixed Rate home loan.
The features of the Premium Home Loan make for a flexible, no-frills option for buying a home or other investment purposes.
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.
If you’re short on cash and need to finance a project such as buying new furniture or even taking a holiday, a Bank Australia Line of Credit may be able to help. A Bank Australia Line of Credit offers a competitive interest rate, flexible repayment options and the ability to make extra repayments. However, before deciding on whether this is the right loan for you, compare your options on finder.com.au.
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.
Firstly, have a look our Centrelink loans page. This page provides a list of lenders that will consider a loan for people on parenting payments. Finding out about alternative loan options is also useful. These include the No Interest Loans Scheme and the StepUP Program to help give eligible borrowers access to affordable finance.
You still may be eligible for a loan if you receive Centrelink payments as part or even all of your income. These include loans from short-term lenders, banks and credit unions. Government and community financial assistance schemes are also available. For more info, please go HERE.
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 – you’ve come through to finder.com.au an online comparison service.
As you are on a disability pension, credit options may be limited. We’ve curated a guide that outlines some, but not all, of the options available to you.
I hope this helps.
Cheers
Matt