Bank Australia Personal Loans
Bank Australia offers two types of personal loans, which come with different advantages and drawbacks.
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Key takeaways
- Bank Australia offers two variable loans, with the property owner option having a lower 7.49% interest rate.
- Both loan types include a $150 application fee and no ongoing monthly fees.
- Eligibility generally requires being 18, an Australian resident, employed and having a good credit history.
What different scores mean
9+
Excellent
The crème de la crème of personal loans. These products offer the lowest cost loans accompanied by the best features.
7+
Great
Slightly higher in cost and fewer features, but these products are still competitive.
5+
Standard
Typically offering above average rates and possibly lacking in the features department.
0+
Basic
The least competitive in terms of both cost and features.
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How to apply for a Bank Australia personal loan
Applying online is a straightforward process. You'll need to meet general eligibility requirements including:
- Being at least 18 years of age
- Being an Australian citizen or a permanent resident of Australia
- Being in paid employment
Compare other products from Bank Australia
- Bank Australia credit cards
- Bank Australia home loans
- Bank Australia savings accounts
- Bank Australia term deposits
- Bank Australia car loans
- Bank Australia business loans
Sources
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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