First Option Bank Personal Loans
Choose between a secured or unsecured personal loan and pay minimal fees. You need to be a member to borrow.
![First Option Bank First Option Bank](https://www.finder.com.au/niche-builder/638ea9bc1fe0d.png)
First Option Credit Union has now been rebranded to First Option Bank. All product information below is correct.
First Option Bank is a mutual financial services organisation, which offers personal loans, car loans, home loans, credit cards, transaction accounts, savings accounts, financial planning advice, foreign exchange solutions, and business banking solutions. They offer both secured and unsecured personal loans. The minimum borrowing amount is $2,000. For an unsecured loan, the maximum loan amount is $15,000, while the loan limit for a secured loan will depend on the security offered. The interest rate starts at 13.99% p.a., with a maximum loan term of 7 years. This loan does not have monthly or annual fees, but there is an application fee of $175. There is also a $10 redraw fee. To borrow, you will have to be a member of the First Option Bank.
You can get an unsecured or secured loan through First Option Bank, which can come with a fixed or variable rate. If you become a member during March, First Option Bank are offering a 3% discount on 1, 2 or 3 year fixed personal loans.
Name | Product | Interest Rate (p.a.) | Comp. Rate (p.a.) | Rate Type | Application Fee | Monthly Fee | Monthly Repayment | ||
---|---|---|---|---|---|---|---|---|---|
.exclusiveTitle { font-weight: 700 !important; } .underlineDesktop { font-weight: 300; } .tableDescription {display: none;}.exclusiveStar {display: none;}.exclusiveCopy { font-size: 0.8rem; font-weight: 400; color: rgb(0 0 0);}.gx-badge {display: none !important;} .comparison-table__name { flex-direction: column !important; align-items: start !important;} .comparison-table__cellWrapper--mx { -webkit-box-align: center; -webkit-align-items: center; -ms-flex-align: center; align-items: center; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -webkit-flex-direction: row; -ms-flex-direction: row; flex-direction: row; justify-content: space-between; margin-bottom: 0px; } .comparison-table__name .comparison-table__cellWrapper--mx { flex-direction: column !important; align-items:flex-start !important; } @media (max-width: 600px) { .rateTypeUnderline { display: none; } } @media (max-width: 600px) { .comparison-table > tbody > tr > td:nth-child(8) > div[data-heading="Test"]::before { content: none; } .lozengePLBlue { border: solid 2px #0271e1; border-radius: 10px; padding: 1px 4px; padding-top: 3px; font-family: Roboto, Source Sans Pro, Arial; font-size: 12px; font-weight: 600; color: #0271E1; margin-right: 3px; white-space: nowrap; margin-top: 4px; text-align: center; display: none; } .mobilebadge { color: red; font-weight: bold;} } .lozengePLBlue { border: solid 2px #0271e1; border-radius: 10px; padding: 1px 4px; font-family: Roboto, Source Sans Pro, Arial; font-size: 12px; font-weight: 600; color: #0271E1; margin-right: 3px; white-space: nowrap; margin-top: 4px; text-align: center;} .table-popover { vertical-align: baseline !important;}@media (max-width: 600px) {.comparison-table__feature.comparison-table__feature--longtext.sorter-false { margin-bottom: 0px; margin-top: 0px; padding-top: 0;}} First Option Bank Special Car Loan Offer Fixed, UP TO 7 Years, $20,000 - $100,000 | .interestFrom { font-size: 1rem; font-weight: 500; }.interestTo { font-size: 1rem; font-weight: 500; }5.69% | .comparisonFrom { font-size: 1rem; font-weight: 500; }.comparisonTo { font-size: 1rem; font-weight: 500; }.table-tooltip { display: inline-block; min-width: 1rem; min-height: 1rem; color: rgb(213 217 220); content: ''; font-size: 1.067em; position: relative; top: 2px; background-image: url("data:image/svg+xml,%3Csvg%20viewBox%3D%220%200%2024%2024%22%20id%3D%22info-circle%22%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%3E%3Cpath%20d%3D%22M11%2017h2v-6h-2v6zm1-15C6.48%202%202%206.48%202%2012s4.48%2010%2010%2010%2010-4.48%2010-10S17.52%202%2012%202zm0%2018.75c-4.823%200-8.75-3.927-8.75-8.75S7.177%203.25%2012%203.25s8.75%203.927%208.75%208.75-3.927%208.75-8.75%208.75zM11%209h2V7h-2v2z%22%3E%3C%2Fpath%3E%3C%2Fsvg%3E");}5.93% | .rateTypeMobile { color: rgb(0 0 0); font-size: 1rem; font-weight: 500;} Fixed | .applicationFeeUnderline { font-size: 1rem; font-weight: 300; } @media only screen and (min-width: 601px) { .applicationFee { min-width: 109px; } } .table-tooltip { display: inline-block; min-width: 1rem; min-height: 1rem; color: rgb(213 217 220); content: ''; font-size: 1.067em; position: relative; top: 2px; background-image: url("data:image/svg+xml,%3Csvg%20viewBox%3D%220%200%2024%2024%22%20id%3D%22info-circle%22%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%3E%3Cpath%20d%3D%22M11%2017h2v-6h-2v6zm1-15C6.48%202%202%206.48%202%2012s4.48%2010%2010%2010%2010-4.48%2010-10S17.52%202%2012%202zm0%2018.75c-4.823%200-8.75-3.927-8.75-8.75S7.177%203.25%2012%203.25s8.75%203.927%208.75%208.75-3.927%208.75-8.75%208.75zM11%209h2V7h-2v2z%22%3E%3C%2Fpath%3E%3C%2Fsvg%3E");} .comparison-table > tbody > tr > td.comparison-table__feature.calculator-data.sortInitialOrder-desc.string-bottom > div {font-weight: 500;}table.comparison-table tr td:nth-child(9) {font-weight: 500;font-size: 1rem;color: rgb(2,113,225);} @media only screen and (max-width: 425px) { .mobileAlignment { margin-top: 1rem; }}$175 | $0 .mobileAlignment { font-weight: 500; font-size: 1rem; padding-top: 5px; padding-bottom: 5px; } @media only screen and (max-width: 425px) { .mobileAlignment { margin-top: 1rem; }} | Monthly Repayment | |||
.exclusiveTitle { font-weight: 700 !important; } .underlineDesktop { font-weight: 300; } .tableDescription {display: none;}.exclusiveStar {display: none;}.exclusiveCopy { font-size: 0.8rem; font-weight: 400; color: rgb(0 0 0);}.gx-badge {display: none !important;} .comparison-table__name { flex-direction: column !important; align-items: start !important;} .comparison-table__cellWrapper--mx { -webkit-box-align: center; -webkit-align-items: center; -ms-flex-align: center; align-items: center; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -webkit-flex-direction: row; -ms-flex-direction: row; flex-direction: row; justify-content: space-between; margin-bottom: 0px; } .comparison-table__name .comparison-table__cellWrapper--mx { flex-direction: column !important; align-items:flex-start !important; } @media (max-width: 600px) { .rateTypeUnderline { display: none; } } @media (max-width: 600px) { .comparison-table > tbody > tr > td:nth-child(8) > div[data-heading="Test"]::before { content: none; } .lozengePLBlue { border: solid 2px #0271e1; border-radius: 10px; padding: 1px 4px; padding-top: 3px; font-family: Roboto, Source Sans Pro, Arial; font-size: 12px; font-weight: 600; color: #0271E1; margin-right: 3px; white-space: nowrap; margin-top: 4px; text-align: center; display: none; } .mobilebadge { color: red; font-weight: bold;} } .lozengePLBlue { border: solid 2px #0271e1; border-radius: 10px; padding: 1px 4px; font-family: Roboto, Source Sans Pro, Arial; font-size: 12px; font-weight: 600; color: #0271E1; margin-right: 3px; white-space: nowrap; margin-top: 4px; text-align: center;} .table-popover { vertical-align: baseline !important;}@media (max-width: 600px) {.comparison-table__feature.comparison-table__feature--longtext.sorter-false { margin-bottom: 0px; margin-top: 0px; padding-top: 0;}} First Option Bank Car Loan Fixed, 1 - 7 Years, $15,000 - $100,000 | .interestFrom { font-size: 1rem; font-weight: 500; }.interestTo { font-size: 1rem; font-weight: 500; }10.99% | .comparisonFrom { font-size: 1rem; font-weight: 500; }.comparisonTo { font-size: 1rem; font-weight: 500; }.table-tooltip { display: inline-block; min-width: 1rem; min-height: 1rem; color: rgb(213 217 220); content: ''; font-size: 1.067em; position: relative; top: 2px; background-image: url("data:image/svg+xml,%3Csvg%20viewBox%3D%220%200%2024%2024%22%20id%3D%22info-circle%22%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%3E%3Cpath%20d%3D%22M11%2017h2v-6h-2v6zm1-15C6.48%202%202%206.48%202%2012s4.48%2010%2010%2010%2010-4.48%2010-10S17.52%202%2012%202zm0%2018.75c-4.823%200-8.75-3.927-8.75-8.75S7.177%203.25%2012%203.25s8.75%203.927%208.75%208.75-3.927%208.75-8.75%208.75zM11%209h2V7h-2v2z%22%3E%3C%2Fpath%3E%3C%2Fsvg%3E");}11.24% | .rateTypeMobile { color: rgb(0 0 0); font-size: 1rem; font-weight: 500;} Fixed | .applicationFeeUnderline { font-size: 1rem; font-weight: 300; } @media only screen and (min-width: 601px) { .applicationFee { min-width: 109px; } } .table-tooltip { display: inline-block; min-width: 1rem; min-height: 1rem; color: rgb(213 217 220); content: ''; font-size: 1.067em; position: relative; top: 2px; background-image: url("data:image/svg+xml,%3Csvg%20viewBox%3D%220%200%2024%2024%22%20id%3D%22info-circle%22%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%3E%3Cpath%20d%3D%22M11%2017h2v-6h-2v6zm1-15C6.48%202%202%206.48%202%2012s4.48%2010%2010%2010%2010-4.48%2010-10S17.52%202%2012%202zm0%2018.75c-4.823%200-8.75-3.927-8.75-8.75S7.177%203.25%2012%203.25s8.75%203.927%208.75%208.75-3.927%208.75-8.75%208.75zM11%209h2V7h-2v2z%22%3E%3C%2Fpath%3E%3C%2Fsvg%3E");} .comparison-table > tbody > tr > td.comparison-table__feature.calculator-data.sortInitialOrder-desc.string-bottom > div {font-weight: 500;}table.comparison-table tr td:nth-child(9) {font-weight: 500;font-size: 1rem;color: rgb(2,113,225);} @media only screen and (max-width: 425px) { .mobileAlignment { margin-top: 1rem; }}$175 | $0 .mobileAlignment { font-weight: 500; font-size: 1rem; padding-top: 5px; padding-bottom: 5px; } @media only screen and (max-width: 425px) { .mobileAlignment { margin-top: 1rem; }} | Monthly Repayment | You'll receive a fixed rate from 10.99% p.a. A great interest rate and real flexibility, perfect for new cars or demo models (with less than 1,500 kms). | ||
.exclusiveTitle { font-weight: 700 !important; } .underlineDesktop { font-weight: 300; } .tableDescription {display: none;}.exclusiveStar {display: none;}.exclusiveCopy { font-size: 0.8rem; font-weight: 400; color: rgb(0 0 0);}.gx-badge {display: none !important;} .comparison-table__name { flex-direction: column !important; align-items: start !important;} .comparison-table__cellWrapper--mx { -webkit-box-align: center; -webkit-align-items: center; -ms-flex-align: center; align-items: center; -webkit-box-orient: horizontal; -webkit-box-direction: normal; -webkit-flex-direction: row; -ms-flex-direction: row; flex-direction: row; justify-content: space-between; margin-bottom: 0px; } .comparison-table__name .comparison-table__cellWrapper--mx { flex-direction: column !important; align-items:flex-start !important; } @media (max-width: 600px) { .rateTypeUnderline { display: none; } } @media (max-width: 600px) { .comparison-table > tbody > tr > td:nth-child(8) > div[data-heading="Test"]::before { content: none; } .lozengePLBlue { border: solid 2px #0271e1; border-radius: 10px; padding: 1px 4px; padding-top: 3px; font-family: Roboto, Source Sans Pro, Arial; font-size: 12px; font-weight: 600; color: #0271E1; margin-right: 3px; white-space: nowrap; margin-top: 4px; text-align: center; display: none; } .mobilebadge { color: red; font-weight: bold;} } .lozengePLBlue { border: solid 2px #0271e1; border-radius: 10px; padding: 1px 4px; font-family: Roboto, Source Sans Pro, Arial; font-size: 12px; font-weight: 600; color: #0271E1; margin-right: 3px; white-space: nowrap; margin-top: 4px; text-align: center;} .table-popover { vertical-align: baseline !important;}@media (max-width: 600px) {.comparison-table__feature.comparison-table__feature--longtext.sorter-false { margin-bottom: 0px; margin-top: 0px; padding-top: 0;}} First Option Bank Used Car Loan Fixed, 1 - 7 Years, $15,000 - $100,000 | .interestFrom { font-size: 1rem; font-weight: 500; }.interestTo { font-size: 1rem; font-weight: 500; }10.99% | .comparisonFrom { font-size: 1rem; font-weight: 500; }.comparisonTo { font-size: 1rem; font-weight: 500; }.table-tooltip { display: inline-block; min-width: 1rem; min-height: 1rem; color: rgb(213 217 220); content: ''; font-size: 1.067em; position: relative; top: 2px; background-image: url("data:image/svg+xml,%3Csvg%20viewBox%3D%220%200%2024%2024%22%20id%3D%22info-circle%22%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%3E%3Cpath%20d%3D%22M11%2017h2v-6h-2v6zm1-15C6.48%202%202%206.48%202%2012s4.48%2010%2010%2010%2010-4.48%2010-10S17.52%202%2012%202zm0%2018.75c-4.823%200-8.75-3.927-8.75-8.75S7.177%203.25%2012%203.25s8.75%203.927%208.75%208.75-3.927%208.75-8.75%208.75zM11%209h2V7h-2v2z%22%3E%3C%2Fpath%3E%3C%2Fsvg%3E");}11.24% | .rateTypeMobile { color: rgb(0 0 0); font-size: 1rem; font-weight: 500;} Fixed | .applicationFeeUnderline { font-size: 1rem; font-weight: 300; } @media only screen and (min-width: 601px) { .applicationFee { min-width: 109px; } } .table-tooltip { display: inline-block; min-width: 1rem; min-height: 1rem; color: rgb(213 217 220); content: ''; font-size: 1.067em; position: relative; top: 2px; background-image: url("data:image/svg+xml,%3Csvg%20viewBox%3D%220%200%2024%2024%22%20id%3D%22info-circle%22%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%3E%3Cpath%20d%3D%22M11%2017h2v-6h-2v6zm1-15C6.48%202%202%206.48%202%2012s4.48%2010%2010%2010%2010-4.48%2010-10S17.52%202%2012%202zm0%2018.75c-4.823%200-8.75-3.927-8.75-8.75S7.177%203.25%2012%203.25s8.75%203.927%208.75%208.75-3.927%208.75-8.75%208.75zM11%209h2V7h-2v2z%22%3E%3C%2Fpath%3E%3C%2Fsvg%3E");} .comparison-table > tbody > tr > td.comparison-table__feature.calculator-data.sortInitialOrder-desc.string-bottom > div {font-weight: 500;}table.comparison-table tr td:nth-child(9) {font-weight: 500;font-size: 1rem;color: rgb(2,113,225);} @media only screen and (max-width: 425px) { .mobileAlignment { margin-top: 1rem; }}$175 | $0 .mobileAlignment { font-weight: 500; font-size: 1rem; padding-top: 5px; padding-bottom: 5px; } @media only screen and (max-width: 425px) { .mobileAlignment { margin-top: 1rem; }} | Monthly Repayment | Get a competitive rate with no early repayment fees. |
You can visit any First Option Bank branch to apply, you can get started over the phone, and you can apply online. The online application does not take long to complete, and you can start the application for a First Option Bank Personal Loan if you meet the following eligibility criteria:
To complete the application successfully you have to provide certain information, so keep the following easily accessible.
Read Finder's review of Xe Business Transfers and see if it's right for your international business payment needs.
Millions of Aussies think they need to ‘tough it out’ at work when they’re sick, according to new research by Finder.
Verdict: The Pixel 8a is everything you’d want in a mid-range phone and more.
It's too soon to tell but things aren't looking good.
Get $1,000+ when you sign up for a frequent flyer credit card.
Ethereum ETFs look set to hit US$1 billion volume on first day.
SPONSORED: Don't chuck your modem out the window! We'll show you some simple tips to help enhance your internet speed.
SPONSORED: Take off into cyberspace at rocket speed with a faster connection!
Find all the weekly tips from our Dollar Saver newsletter and see how you could save.
You can score up to 25,000 Qantas Points, but is the interest rate good enough?
i am on an income of $5600 per month from veterans affairs, am82 and would like to borrow $15000 for dental treatment, anyone help at all?
Hi Keith,
You can view a range of personal loan options for low income owners here. You can also get more information about applying for a loan when you’re income is from a government source in this guide.
As an alternative, you may be eligible for a Good Shepherd 0% interest loan, of up to $3000 – these are usually available to help with urgent medical bills and housing costs, like rent.
Hope this helps!