Alex Bank personal loans

Looking to leap into the world of digital banks with a personal loan? Allow us to introduce you to Alex Bank. Hitting the lending scene in 2020, Alex Bank 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 digital lenders.

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! In fact, the Alex Bank personal loan stood out so much that it was awarded Best New Loan Product as part of the 2021 Mozo Experts Choice Awards

Alex Bank offers the following personal loans

Rates and fees verified as correct at 04 August, 2021. Other information correct at the time of writing. Advertiser disclosure.

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

5.45% p.a.to 19.99% p.a.

5.45% p.a.to 19.99% p.a.based on $30,000
over 5 years

$0

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What personal loan products does Alex Bank have to offer?

Alex Bank keeps things simple with its small but mighty product, the Alex Bank Personal Loan. The unsecured Alex Bank Personal Loan offers competitive fixed rates starting from 5.45% p.a. (5.45% p.a. comparison rate*) on amounts between $2,100 and $30,000 with 6 months to 5-year loan term options.

Alex Bank personal loan features at a glance:

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

This will ultimately depend on the amount of money you borrow and the repayment terms you select. However, keep in mind that Alex Bank does charge a $295 establishment fee (waived on applications fully submitted before 11 August 2021). So, other than the $295 establishment fee and your interest repayments, you’ll be happy to know that the Alex Bank loan comes with no ongoing fees or other hidden costs (subject to all loan repayments being made on time).

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

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

You’ll also need:

How do you apply for a personal loan with Alex Bank?

1. Submit an application online:

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

2. Hear back from Alex Bank in 1 business day:

Once you’ve submitted your application, Alex Bank should get back to you with the outcome within one business day. 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 Bank 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 within one to two business days.

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