A bank personal loan can help you to fund a new car, take a much needed holiday or even help you to get on top of debt. Compare loan interest rates on offer from Australian banking providers and find a bank loan for your needs.Read more
If you’re on the hunt for a great personal loan from one of Australia’s banks, there are a few things you should know before your start your search. From secured or unsecured loans, to fixed or variable interest rates, the choice is yours, and finding a great bank loan starts with figuring out what kind of loan you need.
Your next step is comparing personal loans from different banks based on their interest rate, as well as their features. Look out for a personal loan with a low comparison rate, low fees, flexible repayment options, an extra repayment facility and the ability to redraw if need be.
Thanks to the wonders of modern technology, you no longer need to visit a bank branch in order to take out a bank loan, you can now apply and get approved online. Once you’ve found a loan that suits your needs on Mozo, you can begin your online application by pressing the blue ‘Go to site’ button, where you’ll be taken straight to the bank’s online application form.
Remember to have on hand personal documents and statements like a form of ID, proof of income and financial statements before you apply. Even though you’ll be applying online, you’re likely to still have customer support like chat bots or phone support to help you if you run in to questions during the application process.
Whether you’re after a small personal loan or a big one, banks offer personal loans of many different sizes. Banks can typically lend more than P2P lenders, with personal loans ranging from a few hundred dollars to upwards of $100,000 with approval. Of course, how much you’ll be able to borrow will depend on your financial circumstances so try our loan repayments calculator to get an indication of how much you’ll be able to afford.
Simply plug your desired loan amount and loan term into the search tool on this page and we’ll give you an indication of how much your monthly repayments will be for each option in the table. It’s a good idea to compare personal loans using the comparison rate, as this rate takes into account the fees as well as the interest rate to give you an indication of the true cost of a loan. Once you’ve reviewed the repayment estimates from different banks, next is to compare the features such as extra repayments or repayment frequency options so that you can find the best option for you. Read our guide for more info about demystifying personal loan fees and features.
^See information about the Mozo Experts Choice Awards for Personal Loans
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