Defence Bank is a member owned financial institution with competitive car loans to offer everyday Aussies and those working in the defence force. Whether you need a Ferrari or average car that does the job, one of the financing options listed here could help you get there sooner.
|Product||Interest rate from||Comparison rate from*||Upfront fee|
Low Rate Car Loan (Variable)
7.59% p.a.based on $30,000
Personal Loan (Variable)
12.62% p.a.based on $30,000
* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.
† Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.
It’s a rate that Defence Bank could decide to increase or decrease at any point during your loan term, impacting on how much you’re charged interest against your debt. The good thing is, that the variable rates offered by this provider are competitively low. If you’d rather the peace of mind your rate will stay fixed, feel free to browse other loans in the market at our comparison hub.
To access the lowest rate possible, you’ll need to secure your car to the loan. If you’d rather not sign papers that allow Defence Bank to repossess your car in a loan default situation, consider opting for its personal loan instead.
Your loan application will be unique, as Defence Bank will factor in your credit history and salary into the assessment. Whether you want to opt for the low rate car loan or personal loan, you’ll need to borrow at least $1k. There is no maximum.
Each week, fortnight or month. Defence Bank will give you the choice.
From 1 - 7 years.
Sure can. It’s a great way to cut down what you pay in interest too, all without needing to fork out more for fees.
Yes, and it’s free for you to use.
You can pick a used set of wheels up to 5 years old, and secure it to a low rate loan with Defence Bank. Heart set on a retro car instead? Pick the standard personal loan and pay more interest, or compare other financing options here.
Not at all. In fact, if you have the extra cash and want to wipe that debt sooner, go ahead!
Ready to get your wheels on and buy a new car with Defence Bank’s help? Just give them a call, apply online or in person at a branch near you. Before you go ahead and do it, make sure you have the following info ready to provide:
Once your application is done and dusted, expect to hear back from the bank on your loan outcome in a few days.