Alex personal loans

Looking to leap into the world of neobanks with a personal loan? Allow us to introduce you to Alex. Alex currently has just one product on offer (the Alex Personal Loan), but that hasn’t stopped them from making waves as one of Australia’s hottest new neolenders.

Alex rewards borrowers who have a good credit score with better rates - so, if that’s you, not only will you have access to a bunch of fab features (see below), but you could potentially score a super competitive interest rate too!

Alex personal loans offer a range of packages for different needs. Check out our range of personal loans for an overview of interest rates, fees and more. Or you can compare with our personal loan comparison tools.

Alex offers the following personal loans

Rates and fees verified as correct at 30 November, 2020. Other information correct at the time of writing. Advertiser disclosure.

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

6.95% p.a.to 19.99% p.a.

6.95% p.a.to 19.99% p.a.based on $30,000
over 5 years

$0

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WARNING: 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 calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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What personal loan products does Alex have to offer?

Alex keeps things simple with its small but mighty product, the Alex Personal Loan. The unsecured Alex Personal Loan offers competitive fixed rates starting from 6.95% p.a. (7.38% p.a. comparison rate*) on amounts between $2,100 and $30,000 with 1 to 5-year loan term options.

Alex personal loan features at a glance:

How much does it cost to apply for a personal loan with Alex?

This will ultimately depend on the amount of money you borrow and the repayment terms you select. However, keep in mind that Alex does charge a $295 establishment fee. So, other than the $295 establishment fee and your interest repayments, you’ll be happy to know that the Alex loan comes with no ongoing fees or other hidden costs.

What do I need to apply for a personal loan with Alex?

To be eligible to apply for a personal loan with Alex you must be the following:

You’ll also need:

How do you apply for a personal loan with Alex?

1. Submit an application online:

So, keen to give Alex a go? To take out a personal loan with Alex, all you need to do is jump online and fill out a quick online application via their website.

2. Hear back from Alex in 1 business day:

Once you’ve submitted your application, Alex should get back to you with the outcome within a day or so. Depending on the time of day you submit your application, you could get lucky and hear back within the same day.

3. Receive the funds in a flash:

Once approved, Alex will transfer the money straight into your account as soon as they receive your signed loan agreement. Depending on who you bank with the funds could land in your account either within a couple of hours, the same business day or even in up to three business days.

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