Australian Military Bank Car Loan - Excellent Credit (Variable)

5.71% p.a.to 8.66% p.a.

6.57% p.a.to 10.07% p.a.based on $30,000
over 5 years

$100

Australian Military Bank Car Loan - Excellent Credit (Variable)

5.71% p.a.to 8.66% p.a.

6.57% p.a.to 10.07% p.a.based on $30,000
over 5 years

$100

Mozo Review   Australian Military Bank Car Loan - Excellent Credit (Variable) Review

Last updated: 30 November 2018.

What's hot:
  • Interest rate from 5.71% (6.57% comparison rate)

  • Flexible repayment schedule

  • Free extra repayments and redraw facility

What's not:
  • $10 monthly service fee

Mozo snapshot:

For Aussies connected to the Australian Defence Force, the Australian Military Bank Car Loan is definitely worth checking out. It comes with a variable interest rate starting as low as 5.71% (6.57% comparison rate). Plus you can take advantage of features like free extra repayments and a redraw facility. But remember to budget for the application fee that can be up to $500.

Key features:

First things first, you’re probably going to want to know about the interest rate on offer. The Australian Military Bank Car Loan comes with a great variable interest rate from as low as 5.71% (6.57% comparison rate) for borrowers with excellent credit.

If you want to make extra repayments to pay off your car loan early and help save on interest then you’ll be able to without being slapped with an early repayment fee. And if you need some of those extra funds back for whatever reason, that’s all good because the Australian Military Bank Car Loan lets you redraw at no extra cost.

Fitting your repayments in to your regular budget is really important, which is why Australian Military Bank Car Loan lets you choose between weekly, fortnightly or monthly repayment terms with loan terms ranging from anywhere between 1 and 7 years.

Australian Military Bank Car Loan allows you to borrow anywhere from $1,000 - $80,000, which allows you to get the car you need, whether it’s a 2nd hand Corolla or a new Mercedes.

Who it's good for:

This loan is available to anyone who is in the Australian Defence force, a defence contractor, a civilian employee or family to someone who is any of these. Thanks to the variable rate, which is determined according to your credit history, this loan particularly benefits people who have good credit scores.

Any catches?

There’s a variable $100 - $500 application fee to look out for. Plus the $10 monthly service fee, which might not seem high, but can certainly add up over time, especially if you are paying your loan back over many years.

Details

Rates and fees information correct as at 15 December 2018. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Variable

  • 5.71% p.a.variable

  • 6.57% p.a.to 10.07% p.a.based on $30,000
    over 5 years

Fees
  • $100.00

  • $10.00

  • $20.00

  • $0.00

  • $0.00

Other financial bits
  • $1,000.00

  • $80,000.00

  • 1 Year

  • 7 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Application fee varies from $100 to $500 depending on credit score.

  • none

*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. WARNING: 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.

Customer Reviews

How are Australian Military Bank personal loans rated by the Mozo community?

Overall customer rating
5.9/10
Price
5.9/10
Features
6.0/10
Customer service
6.7/10
Convenience
5.1/10
Trust
6.0/10

Latest review of Australian Military Bank Car Loan - Excellent Credit (Variable)

  • Overall
    9/10
    Customer friendly and orientated.

    ADCU is a bank that listens to it's customers.

    ADCU is a bank that listens to it's customers.

    Price
    9/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    8/10
    Trust
    10/10

    Jacqui | Queensland

    reviewed almost 4 years ago

Australian Military Bank

About Australian Military Bank

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 offers a comprehensive range of saving and investment accounts, loans, insurance and financial advice especially designed for its members.

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