7.1 / 10

based on 294 reviews as rated by Mozo community

Australian Military Bank personal loans

Australian Military Bank (previously known as ADCU) offers financial products to members of the Australian Defence Force, civilian employees, defence contractors and their families. As well as offering services to people associated with the defence force, the provider welcomes other individuals. 

Australian Military Bank is also a mutliple 2021 Mozo Experts Choice Awards winner and was crowned Personal Loan Provider of the Year.  

Australian Military Bank offers the following personal loans

Rates and fees verified as correct at 25 February, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Car Loan - Excellent Credit (Up to 5 years old, Variable, Secured)

3.99% p.a.to 7.69% p.a.

4.90% p.a.to 9.15% p.a.based on $30,000
over 5 years

$100

Unsecured Green Loan (Variable)

3.65% p.a.

4.59% p.a.based on $30,000
over 5 years

$150

Unsecured Personal Loan (Fixed)

5.35% p.a.to 12.40% p.a.

6.21% p.a.to 13.2% p.a.based on $30,000
over 5 years

$100

Unsecured Personal Loan (Variable)

5.35% p.a.to 12.40% p.a.

6.21% p.a.to 13.2% p.a.based on $30,000
over 5 years

$100

What personal loans does Australian Military Bank offer? 

Unsecured Personal Loan 

Australian Military Bank’s unsecured personal loan options have both competitive rates and flexible repayment options for the borrower. There is the choice of a variable or fixed interest rate, which both allow customers to borrow between $4,000 and $80,000 without putting an asset against the loan. Each option also offers the choice of weekly, fortnightly or monthly repayments and free extra repayments as well (with no early repayment penalty). There is also an upfront application fee and ongoing service fee to budget for. 

There are a few differences though. The variable rate loan has borrowing terms between 1 to 7 years and borrowers can make redraws on their extra repayments. Plus, Australian Military Bank’s variable rate option won a 2021 Mozo Experts Choice Award for Best Unsecured Personal Loan. Meanwhile, the fixed rate option has terms between 1 to 5 years and borrowers are unable to access a redraw facility. However, the fixed rate option provides certainty when it comes to repayments over the life of the loan whereas the variable rate may change your repayments as the market moves.

Green Loan 

The green loan offered by Australian Military Bank comes with a low variable interest rate, a range of loan terms and flexible repayment options. Customers can borrow anywhere from $4,000 and $40,000 with this loan as long as it is used for eco-friendly domestic uses - such as solar installation or energy efficient heating and cooling. Terms range from 1 to 7 years and borrowers can make weekly, fortnightly or monthly repayments. Free extra repayments are also available on this loan, however there is no redraw facility to dip into these funds later on. While there is no early repayment penalty attached to this loan, be mindful there is an upfront application cost to consider as well as an ongoing service fee. 

Car Loan 

If you have your eyes on a car that's up to 5 years old and need a loan to get your hands on the keys, Australian Military Bank’s Car Loan might be the choice for you. This loan comes with competitively low variable rates and the option to borrow between $4,000 and $80,000 for 1 to 7 years. And when it comes to paying your loan back, there’s plenty of flexibility. Not only can you choose between a weekly, fortnightly and monthly repayment schedule, there’s also the option to make free extra repayments and redraws whenever you like! You may also be pleased to hear there is no early repayment penalty if you pay down your loan ahead of time - just be mindful there is an upfront application fee and ongoing service fee. This loan also won multiple 2021 Mozo Experts Choice Awards for Best Car Loan and Best Used Car Loan


Australian Military Bank features at a glance 


How do I apply for an Australian Military Bank personal loan? 

Applying for a personal loan from Australian Military Bank can be done online, at a local branch or over the phone. The online application for a personal loan from Australian Military Bank will take you around 15 minutes and a response can take up to 24 hours. 

Here are some things you’ll need for your application: 

How are Australian Military Bank personal loans rated?

Mozo users have rated Australian Military Bank 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
Australian Military Bank personal loans
Overall
6.0/10
Price
Features
Customer service
Convenience
Trust

34 Reviews

Recent Australian Military Bank personal loan reviews

Australian Military Bank Personal Loan review
Overall 10/10
Perfect

Great deal! It was awesome an experience! I would proudly recommend my provider for everybody who needs some financial help!

Read full review

Great deal! It was awesome an experience! I would proudly recommend my provider for everybody who needs some financial help!

Price
5/10
Features
10/10
Customer service
3/10
Convenience
6/10
Trust
10/10
Less
Bob, Queensland, reviewed 7 months ago
Australian Military Bank Used Car Loan (Variable) review
Overall 4/10
Not recommended, looking for another bank

Horrible convenience, small bank which is never open on weekends including being able to call them, can only call between 9-5 mon-fri.

Read full review

Horrible convenience, small bank which is never open on weekends including being able to call them, can only call between 9-5 mon-fri.

Price
3/10
Features
6/10
Customer service
4/10
Convenience
2/10
Trust
5/10
Less
Jack, Queensland, reviewed over 5 years ago
Australian Military Bank Personal Loan review
Overall 9/10
good

good

Price
8/10
Features
9/10
Customer service
9/10
Convenience
8/10
Trust
9/10
Less
Charles, Victoria, reviewed over 5 years ago
Australian Military Bank Personal Loan review
Overall 0/10
Ok

Ok

Price
0/10
Features
0/10
Customer service
1/10
Convenience
0/10
Trust
0/10
Less
Warren, Victoria, reviewed over 5 years ago

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