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.

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Elizabeth Barry

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Finder Score Interest rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Rewards Monthly Repayment
First Option Bank logo
Finder score
9.2 Excellent
First Option Bank VIP Personal Loans
Variable1 - 7 Years $1,000 - $70,000
Finder score
9.2 Excellent
Interest Rate (p.a.)
7.99%
Comp. Rate (p.a.)
8.24%
Application Fee
$175
Monthly Fee
$0
Monthly Repayment
$945.44
More info
Compare product selection
First Option Bank logo
Finder score
7.6 Great
First Option Bank Personal Loan
Variable1 - 7 Years $1,000 - $70,000
Finder score
7.6 Great
Interest Rate (p.a.)
13.99%
Comp. Rate (p.a.)
14.25%
Application Fee
$175
Monthly Fee
$0
Monthly Repayment
$1,031.16
More info
Compare product selection
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How to apply for a First Option Bank 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
You'll need to provide current address details and evidence of employment. Having a good credit history improves your chance of approval.

Sources

Elizabeth Barry's headshot
Journalist

Elizabeth Barry is an experienced journalist with over 10 years of expertise in personal finance, contributing to outlets like the ABC, Sydney Morning Herald, and 7News. She holds a Master of Arts in Creative Writing and a Bachelor of Arts in Communication from the University of Technology Sydney, and has earned multiple award nominations, including a Highly Commended recognition at the 2017 Lizzies. Elizabeth began her career at Finder in 2013, progressing through roles to become Lead Editor, where she oversaw a wide range of personal finance coverage until 2024. See full bio

Elizabeth's expertise
Elizabeth has written 202 Finder guides across topics including:
  • Banking
  • Personal finance
  • Investing
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2 Responses

    Default Gravatar
    keithFebruary 14, 2024

    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?

      Sarah Megginson's headshotFinder
      SarahFebruary 15, 2024Finder

      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!

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