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This loan is available to members of the Teachers Mutual Bank for loan amounts between $2,000 up to $30,000. You can become a member by purchasing a $10 share when you apply. This loan is specifically designed for holidays and travel. The interest rate is variable, meaning that it can fluctuate month by month based on the market interest rate. The interest rate starts at 11.45% p.a., with a comparison rate of 12.15% p.a. There are no monthly fees with this loan, but there is an application fee of $100.
From 11.45% (variable)
Interest Rate (p.a.)
12.15%
Comparison Rate (p.a.)
$2,000
Min Loan Amount
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Product Name | Teachers Mutual Travel Loan |
---|---|
Interest Rate (p.a.) | From 11.45% (variable) |
Comparison Rate (p.a.) | 12.15% |
Interest Rate Type | Variable |
Min Loan Amount | $2,000 |
Max. Loan Amount | $30,000 |
This is a travel loan, which may be a cheaper alternative to a credit card to fund your next holiday. The loan is unsecured, so you do not need to put up any assets as collateral. It also has a variable interest rate of 11.45% p.a., which is generally lower than fixed rate options. Teachers Mutual Bank allows you to make additional repayments to pay your loan off sooner without incurring any fees.
Teachers Mutual Bank is similar to a credit union in that it exists solely to provide good value services to its members. You must become a member before you can use its services.
The Teachers Mutual Bank travel loan comes with a full range of features to make managing and repaying your loan easier.
To apply for a travel loan with Teachers Mutual Bank you must first become a member, which can be done online.
To become a member you will need to:
Once you are a member, to apply for a travel loan you will need:
The Teachers Mutual Bank travel loan is a low-cost option for your next big holiday. Before you apply for any financing, be sure to check out other unsecured personal loans to compare interest rates and find the best option for you.