based on 102 abal banking banking product reviews as rated by Mozo community

abal banking personal loans

Launched as Arab Bank Australia in 1986, then rebranded to abal banking in 2019, this lender is a subsidiary of Arab Bank, which provides banking solutions to customers across the Middle East and Northern African region. In Australia this challenger brand has branches across Sydney and Melbourne, and also operates online too. 

While abal banking specialises in home loans, it also offers a suite of personal loans including both secured an unsecured options. Both types of personal loans allow you to choose between a fixed or variable interest rate.  Let’s delve a little deeper...

abal banking offers the following personal loans

Rates and fees verified as correct at 21 October, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Secured Personal Loan (Fixed)

11.30% p.a.

12.13% p.a.based on $30,000
over 5 years

$200

Secured Personal Loan (Variable)

12.90% p.a.

13.72% p.a.based on $30,000
over 5 years

$200

Unsecured Personal Loan (Fixed)

14.00% p.a.

14.81% p.a.based on $30,000
over 5 years

$200

Unsecured Personal Loan (Variable)

15.60% p.a.

16.41% p.a.based on $30,000
over 5 years

$200

What personal loans do Arab Bank Australia offer?

Secured Personal Loan 

If you have a car, boat or guarantee you can apply for abal banking’s secured loan option. The asset you put up will be used as security for the loan, so this means failing to pay the loan could result in your asset being seized. If you know you can diligently repay your loan, going for the secured loan option will save you big bucks in interest, due to the low interest rate attached. Loan amounts can range from $5,000 to $50,000 and you can choose to pay it off over a term of between 1 and 5 years. The secured loan comes with either a fixed interest rate, which means your repayments won’t change or a variable rate that can alter depending on the market. Also bear in mind there is an upfront application fee to budget for as well as an ongoing monthly service fee. 

Unsecured Personal Loan 

Alternatively, for borrowers who don’t hold an asset to use as security there is an unsecured loan available through abal banking. While this will mean your assets won’t be put at direct risk if you default on the loan, your interest rate will be higher than the secured rate option. When you take out the unsecured loan, you can lock in your rate with a fixed interest rate or leave it variable. Loans can also be taken out for a period of 1-5 years and you can potentially borrow between $5,000 and $30,000. Like the secured personal loan option, there is also an application cost and monthly service fee attached to this loan. 

Arab Bank Australia personal loan features at a glance

What do I need to apply for an Arab Bank Australia personal loan?

To apply for a personal loan from Arab Bank Australia you’ll need to head to your local branch in the Sydney or Melbourne area and bring the following docs with you:

How are abal banking personal loans rated?

Mozo users have rated abal banking personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
abal banking personal loans
Overall
Price
Features
Customer service
Convenience
Trust

6 Reviews

Recent abal banking personal loan reviews

abal banking Unsecured Personal Loan
Overall 10/10
Super easy and great

Pleasant experience applying for a personal loan. Rates are reasonable as well.

Read full review

Pleasant experience applying for a personal loan. Rates are reasonable as well.

Price
9/10
Features
8/10
Customer service
7/10
Convenience
8/10
Trust
9/10
Less
Jimmd, Queensland, reviewed almost 3 years ago
abal banking Secured Personal Loan
Overall 10/10
nil

Nil

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Khaja, New South Wales, reviewed over 6 years ago
abal banking Personal Loan
Overall 8/10
Great customer service

Anz always give me advice eg home/car insurance

Read full review

Anz always give me advice eg home/car insurance

Price
6/10
Features
4/10
Customer service
7/10
Convenience
10/10
Trust
6/10
Less
Michelle, Queensland, reviewed over 6 years ago
abal banking Unsecured Personal Loan
Overall 7/10
fair customer service

dislike at their good decide and approved a loan at good interest rate and repayments received at them

Read full review

dislike at their good decide and approved a loan at good interest rate and repayments received at them

Price
5/10
Features
5/10
Customer service
5/10
Convenience
6/10
Trust
6/10
Less
Benack, New South Wales, reviewed almost 7 years ago

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