Arab Bank Australia personal loans

Arab Bank Australia
Arab Bank Australia's overall rating for personal loans

(as rated by the Mozo community)

8.3 / 10

based on 3 reviews

Arab Bank Australia 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 the whole market with our personal loan comparison tools.

Arab Bank Australia offers the following personal loans

Rates and fees verified as correct at 04 December, 2016. Other information correct at the time of writing.

Product Interest rate from Comparison rate from* Upfront fee
Secured (Variable)
Arab Bank Australia

12.40% p.a.

13.41% p.a.based on $30,000
over 5 years

$200

Secured (Fixed)
Arab Bank Australia

11.30% p.a.

12.33% p.a.based on $30,000
over 5 years

$200

Unsecured (Variable)
Arab Bank Australia

15.10% p.a.

16.05% p.a.based on $30,000
over 5 years

$200

Unsecured (Fixed)
Arab Bank Australia

14.00% p.a.

14.96% p.a.based on $30,000
over 5 years

$200

* 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.

About Arab Bank Australia Personal Loans:

Launched in 1986 Arab Bank Australia 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 nine branches across Sydney and Melbourne, allowing you to speak to a branch manager in person about your borrowing needs.

While Arab Bank Australia specialises in home loans, it also offers a suite of personal loans including a secured option which requires you to put up an asset as security or alternatively an unsecured option. Both types of personal loans allow you to choose between a fixed or variable interest rate.

Okay, let’s delve deeper into each option...

What personal loans do Arab Bank Australia offer?

Secured

If you have a car, boat or guarantee you can apply for Arab Bank Australia’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.

Unsecured

Alternatively, for borrowers who don’t hold an asset to use as security there is an unsecured loan available through Arab Bank Australia. 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 $50,000.

Arab Bank Australia personal loan features at a glance

Repayment flexibility: Both the secured and unsecured loan options from Arab Bank Australia let you set up your repayments on either a weekly, fortnightly or monthly cycle.

Extra repayments: If you’re a borrower who wants to make additional payments on your loan, you’ll be happy to hear that all of Arab Bank Australia’s personal loans come with an extra repayments facility. But keep in mind with the fixed rate loan fees may apply if you try to pay out the loan early.

Fees: All of Arab Bank Australia’s personal loan offerings come with an upfront fee that you will have to pay when you first take out the loan and a small ongoing fee that will be charged on a monthly basis.

How are Arab Bank Australia personal loan products rated?

If you want to know how Arab Bank Australia’s personal loans rate when it comes to price, customer service and features we recommend reading customer reviews from past and present customers here.

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:

More helpful personal loan quick links