⚡️⚡️⚡️
With energy prices rising, switch to a cheaper plan
💡
Compare Prices Now
⚡️⚡️⚡️

Police Bank Personal loan

Choose between variable and fixed rate personal loans. Membership is required to apply.

This personal loan is available only to Police Bank members. You can choose either a fixed or variable rate. The loan can be used for a variety of purposes, including the purchase of vehicles, household items or to pay for your holiday. The minimum loan amount is $5,000, with a loan term between . You can make unlimited additional repayments for this loan.

No reviews yet. Write a review


From 5.79% (variable)

Interest Rate (p.a.)

5.92%

Comparison Rate (p.a.)

$5,000

Min Loan Amount

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product NamePolice Bank Variable Rate Personal Loan
Interest Rate (p.a.)
From 5.79% (variable)
Comparison Rate (p.a.)5.92%
Interest Rate TypeVariable
Min Loan Amount$5,000

How does the Police Bank personal loan work?

This loan is for Police Bank members. You can choose between a variable and fixed rate. The loan can be either secured or unsecured. This loan can be used for the purchase of a vehicle, electronics, white goods, household items, holidays, boats and bikes.

What features does the Police Bank personal loan offer?

  • Fixed and variable interest rate. You can choose either a fixed or variable interest rate. The fixed rate starts from 9.99% p.a., while the variable rate starts from 5.79% p.a.
  • Secured and unsecured available. Police Bank may require security depending on the customer.
  • Varying loan term. Between 1 to 7 years.
  • Flexible repayments. You can choose between weekly, fortnightly and monthly repayments.
  • Additional repayments. You can make unlimited additional repayments.
  • Redraw facility. The minimum redraw amount is $100, available only on the fixed interest option.
  • No monthly or annual fees. You won’t be charged a monthly or annual account keeping fee.

How much does the Police Bank personal loan cost?

There are a number of costs associated with Police Bank’s personal loan, including the following:

  • Loan principal.
  • Variable interest rate of 5.79% p.a. or fixed interest rate of 9.99% p.a.
  • Establishment fee of $98.

The comparison rate, which includes both the interest rate and fees, is 5.92% p.a. for the variable rate loan and 10.13% p.a. for the fixed rate loan.

What are the pros and cons of the Police Bank personal loan?

Pros

  • Fixed and variable rate options. You can choose between the fixed and variable rate, depending on your preferences.
  • No ongoing fees. This loan has no monthly or annual fees.
  • Secured and unsecured options available. You can also choose to secure the loan, or opt for the unsecured option if you don’t have security to offer.

Cons

  • Members only. You can only apply for the loan if you’re a member of the Police Bank.

Am I eligible for the Police Bank personal loan?

To be eligible for this loan, you must be:

  • An existing member. Otherwise, you must sign up to become a member of the Police Bank.
  • Over 18 years old.
  • A permanent resident of Australia.
  • Able to repay the loan.

You must also have access to an email account and mobile phone.

How do I apply for the Police Bank personal loan?

You can apply for the loan online through the Police Bank website. The application takes around 10 to 15 minutes to complete. Some of the documents you need include the following:

  • Identification documents. This can be your driver’s licence or other IDs.
  • Bank statements. You’ll need to either provide access to your online banking accounts or supply a bank statement.
  • Employment documents. You’ll have to provide documents relating to your employment.

Keep all the required documents ready to speed up the application process.

Compare Personal Loans

1 - 5 of 5
$
Name Product Mobile details underline Interest Rate (p.a.) Comp. Rate (p.a.) Rate Type Application Fee Monthly Fee Monthly Repayment
NOW Finance No Fee Unsecured Personal Loan Fixed, 18 Months - 7 Years, $5,000 - $50,000
NOW Finance No Fee Unsecured Personal Loan
18 Months - 7 Years, $5,000 - $50,000
5.95%
to 19.95%
5.95%
to 19.95%
Fixed
$0
$0
You'll receive a fixed rate between 5.95% p.a. and 19.95% p.a. based on your risk profile
Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.

OurMoneyMarket Personal Loan Fixed, 1 - 7 Years, $2,001 - $75,000
Exclusive
OurMoneyMarket Personal Loan
1 - 7 Years, $2,001 - $75,000
6.25%
to 20.99%
6.87%
to 23.83%
Fixed
1.50% - 6%
min. $250
$0
You'll receive a fixed rate from 6.25% p.a. to 20.99% p.a. based on your risk profile.
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

Finder Exclusive: Apply before 30th of June 2022 to secure a 0.20% p.a. discount for the full term of your loan.
Latitude Variable Rate Personal Loan Variable, 2 - 7 Years, $5,000 - $70,000
Latitude Variable Rate Personal Loan
2 - 7 Years, $5,000 - $70,000
5.75%
to 25.99%
6.68%
to 29.20%
Variable
0% - 5%
$13
You'll receive a variable rate between 5.75% p.a. and 25.99% p.a. based on your risk profile
Apply for what you need from $5,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly. You can check your interest rate before applying with no impact to your credit score.
Wisr Personal Loan Fixed, 3 - 7 Years, $5,000 - $64,000
Wisr Personal Loan
3 - 7 Years, $5,000 - $64,000
6.95%
to 17.95%
7.78%
to 18.37%
Fixed
$595
$0
You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.
Citi Personal Loan Plus Variable, 3 - 5 Years, $5,000 - $75,000
Exclusive
Citi Personal Loan Plus
3 - 5 Years, $5,000 - $75,000
8.90%
9.18%
Variable
$199
$0
You'll receive a variable rate of 8.90% p.a. with a comparison rate of 9.18% p.a. if you're approved.
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years.

Finder Exclusive: Earn 150,000 Velocity Points when you apply and activate your account within 90 days from approval.
loading

Compare up to 4 providers

Personal Loan Offers

Important Information*
Logo for Citi Personal Loan Plus
Citi Personal Loan Plus

You'll receive a variable rate of 8.9% p.a. with a comparison rate of 9.18% p.a. if you're approved.
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years.

Logo for OurMoneyMarket Personal Loan
OurMoneyMarket Personal Loan

You'll receive a fixed rate from 6.25% p.a. to 20.99% p.a. based on your risk profile
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a guaranteed rate of6.49% p.a. with a comparison rate of 7.41% p.a. if you're approved.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

Ask an expert

To ask a question simply log in via your email or create an account.

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 Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site