P&N Bank is the largest customer owned institution in Western Australia and runs community initiatives too. Customers can access a range of financial products including home loans and financing for new or used cars. If you need credit to purchase a set of wheels, use this page to learn all about its two variable rate loans on offer.
|Product||Interest rate from||Comparison rate from*||Upfront fee|
Secured Personal Loan (Variable)
7.97% p.a.based on $30,000
Unsecured Personal Loan (Variable)
13.95% 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 simply an interest rate that can be increased or decreased while you repay your debt, potentially adjusting the cost of loan repayments. If you choose a P&N Bank loan, you may like to factor a negative rate change in your budget in case it happens. On the plus side, interest rates to begin with are competitively low.
It’s up to you. Tying your car into the contract as collateral means P&N can take back your vehicle if you default on the loan. Secured loans have lower rates than unsecured loans, which require less paperwork. Which one will you choose?
You’ll need to sign on for at least $5k, up to an amount you can comfortably afford to repay based on your financial situation.
Yes, it’s just a matter of whether or not the vehicle will qualify as security, if it’s a secured loan you’re after. Discuss the make and model with P&N to confirm whether you can use a secured or unsecured loan to buy that dream car.
Actually yes, P&N Bank has its own “car search” tool you can use to help find your ideal car. It can also be known to offer seasonal perks like car insurance and petrol vouchers too.
You can select a weekly, fortnightly or monthly billing cycle. Pick one that works with your budget best and set up direct payments if you’re worried about missing due dates.
You sure can and you'll also get the flexibility to dip into them whenever you like through the redraw facility.
P&N charges all customers who pay off their car loans early a flat fee.
From 2 to 5 years.
Taking out a P&N Bank car loan over the phone or at a branch is easy. Once you get in touch with them or fill out an online form, you’ll need to provide them with a few personal details, like:
Expect to hear back from P&N within a couple of business days after you’ve submitted your forms, and soon enough you should have that shiny new or used car sitting in the driveway.