Liberty Personal Loan
- Interest Rate (p.a.)
- 6.30% to 19.99%
- Comparison rate (p.a.)
- 6.30% to 21.49%
- Min Loan Amount
- $5,000
Summary
Secure a personal loan from Alex.Bank without paying application or ongoing fees.The Alex.Bank Unsecured Personal Loan stands out by charging no application or ongoing fees. This makes it a cost-effective option for borrowers looking to minimise upfront and regular costs associated with their loan.
However, its minimum interest rate is less competitive, sitting in the top 15% of higher rates in our database. With a Finder Score of 7.3, it suits borrowers who prioritise a fee-free structure over securing the lowest possible interest rate.
Pros
-
Free redraw facility
-
Repayment flexibility
-
No ongoing, early termination or discharge fees
Cons
-
Establishment fee depending on risk band
Details
Product Details
| Product Name | Liberty Unsecured Personal Loan |
| Interest Rate (p.a.) | 6.30% to 19.99% |
| Comparison rate (p.a.) | 6.30% to 21.49% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $80,000 |
| Loan Security | Unsecured |
How does Liberty Unsecured Personal Loan compare?
- No application fee. This loan has no application fee, a common charge on other products.
- No ongoing fees. You won't be charged any monthly account-keeping fees, helping keep costs down compared to other loans.
- No penalty for early repayment. You can make extra repayments and pay off your loan early without being charged a fee, unlike some other loans.
- Higher than average interest rate. The minimum interest rate of 14.49% p.a. is in the top 15% of higher rates when compared to other loans in our database.
How does Liberty personal loan work?
The Personal Best loan comes with a fixed rate of 6.30% p.a., which is only applied to your current balance. You are required to pay a $950 establishment fee, but there are no ongoing fees or charges for redraw or ending the loan early. You can also make unlimited additional repayments. You can borrow up to $80,000 and terms are between 3 to 7 years.How to apply
You can get your application started by clicking "Go to Site". First, make sure you meet the eligibility criteria outlined below:- Be over the age of 18
- Be an Australian citizen or permanent resident
- Be able to afford the repayments
You will need your personal and financial details on hand as well as your Internet banking details. The application process shouldn't take longer than ten minutes.
Features of this loan
There are various features and benefits on offer with this loan, including:- Interest rate. No matter what your credit limit, you'll only pay interest on the amount of credit you've used. Interest is charged at a competitive fixed rate of 6.30% p.a.
- Loan amount. You can apply for a credit limit of between $5,000 and $80,000, making this loan suitable for a range of purposes and borrowers.
- Repayment flexibility. Principal and interest repayments are required, but you can choose to make these weekly, fortnightly or monthly, depending on what works best for your budget.
- Free redraw. You're able to make unlimited additional repayments, which you can access via a free redraw facility.
- Debit card access. You'll be able to access your funds using a debit card, making for easy spending.
- Easy application and quick funds disbursal. You can conveniently apply online in about ten minutes. If you bank with CommBank, you can receive your loan within five minutes of being approved. If you bank with another lender, your loan may take up to 24 hours to become available.
How much does Liberty personal loans cost?
It’s important to consider the costs of a loan before you apply.- Interest rate (fixed): 6.30% p.a.
- Establishment fee: 0% to 5.5% of loan amount, capped at $950 Depending on your risk band
- No ongoing, redraw, early termination or discharge fees
Liberty offers a competitive loan, but remember there are similar offers available with other lenders, so compare your options before you apply.
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