Bendigo Bank Unsecured Green Personal Loan
- Interest Rate (p.a.)
- 8.24%
- Comparison rate (p.a.)
- 9.27%
- Min Loan Amount
- $2,000
Summary
Access a high borrowing amount with a personal loan that features a competitive application fee.
With a high maximum borrowing amount and a competitive application fee, the Beyond Bank Flexi Personal Loan has some attractive features.
However, its high interest rate, ongoing monthly fee and penalty for extra repayments place it in the lower end of personal loans in our database based on its Finder Score. This could make it a more expensive option for some borrowers.
Details
Product details
| Product Name | Bendigo Bank Unsecured Green Personal Loan |
| Interest Rate (p.a.) | 8.24% |
| Comparison rate (p.a.) | 9.27% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $2,000 |
| Max. Loan Amount | $50,000 |
| Loan Security | Unsecured |
How does Bendigo Bank Unsecured Green Personal Loan compare?
- Competitive application fee. This loan's $195 application fee is lower than many other personal loans.
- High maximum loan amount. You can borrow a larger amount with this loan compared to many others on the market.
- Low Finder Score. This loan is in the lower end of unsecured personal loans based on our proprietary scoring system.
- Higher than average interest rate. The 12.49% interest rate is on the more expensive side compared to other personal loans.
- Ongoing monthly fee. A $9 monthly fee adds to the overall cost of the loan which many other loans don't charge.
- Penalty for extra repayments. Unlike many other loans you may be penalised for making additional repayments.
How does the Unsecured Green Personal Loan work?
This loan is a green personal loan you can use to purchase solar power systems, solar hot water, greywater treatment systems or to purchase energy-saving white goods. This is a fixed rate loan, meaning that your interest repayments will remain consistent throughout the lifetime of your loan. The minimum loan amount is $2,000, and the loan comes with a term between 1 to 7 years.
What features does the Green Personal Loan offer?
- Fixed interest rate. Your rate is fixed, and starts from 8.24% p.a. with a comparison rate of 9.27% p.a.
- Secured and unsecured. Bank First may require security for this loan, but this will be assessed on a case by case basis.
- Green personal loan. Suitable for green home improvement purchases.
- Varying loan term. Between 1-7 years.
- Flexible repayments. You can choose between weekly, fortnightly and monthly repayments.
- Additional repayments. You can make additional repayments.
- Free redraw with a $35 minimum. You won't be charged for the redraw facility. The minimum redraw amount is $35.
How much does the Green Personal Loan cost?
There are a number of costs associated with Bank First’s Green Personal Loan. These include:
- Fixed interest rate of 8.24% p.a.
- Establishment fee of
The comparison rate, which includes both the interest rate and fees is 9.27% p.a.
In addition to the above, you may be charged the following:
- Arrears fee of $35. This fee will be charged if you don't make your repayments on time.
Am I eligible for a Green Personal Loan?
To be eligible for this product, you will have to be at least 18 years of age or older. There will also be a credit assessment when you apply for this loan.
How do I apply?
You can apply for the loan online, through the Bank First website. The application will take around 10 minutes to complete. Keep all the required documents on hand to speed up the process. You can also call Bank First and apply over the phone.
Sources
Your reviews
Rebecca Finder
Editor, Money
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.