Thumbnail icon for Australian Military Bank

Australian Military Bank Unsecured Personal Loan - Excellent Credit (Variable)

Interest rate from
4.85% p.a.to 11.90% p.a.
Comparison rate from*
5.71% p.a.to 13.3% p.a.based on $30,000
over 5 years
Upfront fee
$100

Mozo editorial review Australian Military Bank Unsecured Personal Loan - Excellent Credit (Variable)

Last updated: 16 June 2020.

binocular icon
What's hot
  • Variable rate from 4.85% (5.71% comparison rate*)
  • Extra repayments
  • Redraw facility
What's not
  • $100 to $500 application fee (depending on credit score)
Mozo snapshot

If you have an excellent credit score and are looking for a flexible personal loan option, the Variable Rate Unsecured Personal Loan from Australian Military Bank could be the choice for you. Borrow between $4,000 and $80,000 without putting up assets as collateral. Enjoy rates as low as 4.85% (5.71% comparison rate*), a range of loan terms and flexible repayment features.

key icon
Key features

The Australian Military Bank Unsecured Personal Loan offers customers with excellent credit both competitive rates and flexibility. 

This loan has one of the lowest rates on the Mozo database, sitting at an extremely competitive 4.85% variable rate (5.71% comparison rate*). Just bear in mind, the rate is calculated based on your credit score so you may end up receiving a variable rate as high as 11.90% (13.30% comparison rate*). 

Borrowers can take out a loan anywhere between $4,000 and $80,000 with this product, and have the ability to choose from a range of loan terms: 1 to 7 years. And while we are on the topic of choice, there are also plenty of repayment schedule options too. Customers can pick to pay weekly, fortnightly or monthly, as well as make extra repayments and redraws. But just be mindful that there is a $10 redraw fee and a $20 late payment fee if you miss a regular repayment. 

Another perk of this loan is that it is unsecured, so you won’t need to put up any of your assets as collateral.

snapshot
Who is it good for

This personal loan is a great option for a borrower with excellent credit so they can take advantage of the super low 4.85% variable rate (5.71% comparison rate*).

snapshot
Any catches

Be mindful that the application fee can vary between $100 and $500, depending on your credit score. There is a $10 monthly service fee which can add up if you choose a longer loan term.

Details

Rates and fees information correct as at 30 September 2020. 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

  • 4.85% p.a.variable

  • 5.71% p.a.to 13.3% p.a.based on $30,000
    over 5 years

Fees
  • $100.00

  • $10.00

  • $20.00

  • $0.00

  • $0.00

Other financial bits
  • $4,000.00

  • $80,000.00

  • 1 Year

  • 7 Years

  • Unsecured

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?

Price
5.8/10
Features
6.1/10
Customer service
6.6/10
Convenience
5.2/10
Trust
6.2/10

Latest reviews of Australian Military Bank Unsecured Personal Loan - Excellent Credit (Variable)

  • Overall 0/10
    Run for your lives, save yourselves!

    After being pre approved by 2 other banks for a personal loan my partner decided to apply thru ADCU due to the fact the interest rate was low and we assumed having an active account with them would make the process easier and faster. Wow were we wrong! !! He first called to discuss the options and apply and was told we would get a callback. Never happened. We then applied online and 2 weeks later, with no callbacks, unkept promises of a speedy resolution so we would not lose the car we wanted, discussions with management, and constantly doing the follow-up we were told to apply for a lesser amount, which me did. To then a week later being denied. Mind you all we received to tell us this was an email saying "we tried to call, please call back " (lies!), which we did. 3 times. No notes on file btw so no help anywhere. To then go to the manager again to be told of the denial. Absolutely disgusting! !!! We since reapplied thru MY Credit Union. Approved in 3hrs for the amount we wanted and has been proactive in contacting us and calling us back exactly when they say they will. The whole process with ADCU has caused so many issues with the owner of the vehicle we are buying, my partner and I getting to work (shift work in opposite directions of the city) and other repayments. For the sake of your mental health. ...... run people! Run!!!!

    Read full review

    After being pre approved by 2 other banks for a personal loan my partner decided to apply thru ADCU due to the fact the interest rate was low and we assumed having an active account with them would make the process easier and faster. Wow were we wrong! !! He first called to discuss the options and apply and was told we would get a callback. Never happened. We then applied online and 2 weeks later, with no callbacks, unkept promises of a speedy resolution so we would not lose the car we wanted, discussions with management, and constantly doing the follow-up we were told to apply for a lesser amount, which me did. To then a week later being denied. Mind you all we received to tell us this was an email saying "we tried to call, please call back " (lies!), which we did. 3 times. No notes on file btw so no help anywhere. To then go to the manager again to be told of the denial. Absolutely disgusting! !!! We since reapplied thru MY Credit Union. Approved in 3hrs for the amount we wanted and has been proactive in contacting us and calling us back exactly when they say they will. The whole process with ADCU has caused so many issues with the owner of the vehicle we are buying, my partner and I getting to work (shift work in opposite directions of the city) and other repayments. For the sake of your mental health. ...... run people! Run!!!!

    Price
    8/10
    Features
    5/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Sylvie, Queensland reviewed almost 5 years ago
  • Overall 6/10
    wadwa

    dsas

    Price
    6/10
    Features
    6/10
    Customer service
    7/10
    Convenience
    6/10
    Trust
    6/10
    Less
    Nhi, Western Australia reviewed over 5 years ago
  • Overall 0/10
    Shop around, they're not worth the bother

    We had a seven year loan that was supposed to be complete in November last year but has been extended by four months through no fault of our own. Their policy is to raise interest rates whenever they want (there was a space of 13 days between one rise)! And not to raise the repayments it's just a little surprise package when you thought that you should have been out of debt, and to top it off we are now paying interest on interest until the debt is paid out, apparently it's all there in the small print. No notification in writing of changes, you are supposed to read all of your monthly account statements to be fully informed of changes. Apparently it is better for customers' budgeting purposes not to raise repayments, but how can it be fair to extend the time of a loan without consulting the customer in the first place, the only ones that benefit through this so called policy is the ADCU.

    Read full review

    We had a seven year loan that was supposed to be complete in November last year but has been extended by four months through no fault of our own. Their policy is to raise interest rates whenever they want (there was a space of 13 days between one rise)! And not to raise the repayments it's just a little surprise package when you thought that you should have been out of debt, and to top it off we are now paying interest on interest until the debt is paid out, apparently it's all there in the small print. No notification in writing of changes, you are supposed to read all of your monthly account statements to be fully informed of changes. Apparently it is better for customers' budgeting purposes not to raise repayments, but how can it be fair to extend the time of a loan without consulting the customer in the first place, the only ones that benefit through this so called policy is the ADCU.

    Price
    0/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Laraine, New South Wales reviewed over 5 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.

See Australian Military Bank personal loans

Promoted

OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years

Promoted

Symple Loans

Symple Loans

Personal Loan

5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

Promoted

Alex

Alex

Personal Loan

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

Promoted

NOW FINANCE

NOW FINANCE

Unsecured Personal Loan

6.95% p.a.to 17.95% p.a.

6.95% p.a.to 17.95% p.a.based on $10,000
over 3 years

Promoted

Jacaranda Finance

Jacaranda Finance

Unsecured Personal Loan (Fixed, Excellent Credit)

7.59% p.a.to 8.89% p.a.

12.24% p.a.to 13.91% p.a.based on $30,000
over 5 years

Promoted

Liberty

Liberty

Personal Loan

7.65% p.a.to 26.99% p.a.

7.65% p.a.to 26.99% p.a.based on $30,000
over 5 years

Promoted

Wisr

Wisr

Unsecured Personal Loan

7.95% p.a.to 19.45% p.a.

8.78% p.a.to 20.4% p.a.based on $30,000
over 5 years

Promoted

SocietyOne

SocietyOne

Unsecured Personal Loan (Fixed)

6.99% p.a.to 9.49% p.a.

6.99% p.a.to 12.2% p.a.based on $10,000
over 3 years

Promoted

OurMoneyMarket

OurMoneyMarket

Car Loan

5.50% p.a.

5.85% p.a.based on $30,000
over 5 years

Promoted

Liberty

Liberty

Personal Loan

7.65% p.a.to 26.99% p.a.

7.65% p.a.to 26.99% p.a.based on $30,000
over 5 years

Promoted

Wisr

Wisr

Secured Car Loan

5.19% p.a.to 18.95% p.a.

6.08% p.a.to 19.91% p.a.based on $30,000
over 5 years

Promoted

Plenti

Plenti

New Car Loan (Fixed)

4.89% p.a.to 8.89% p.a.

5.44% p.a.to 9.46% p.a.based on $30,000
over 5 years

Promoted

loans.com.au

loans.com.au

New Car Loan (Fixed)

4.67% p.a.

5.22% p.a.based on $30,000
over 5 years

Promoted

CUA

CUA

Secured Car Loan (Fixed)

6.79% p.a.

7.16% p.a.based on $30,000
over 5 years

Promoted

loans.com.au

loans.com.au

Clean Green Car Loan

3.97% p.a.

4.51% p.a.based on $30,000
over 5 years

Promoted

OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years

Promoted

Symple Loans

Symple Loans

Personal Loan

5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

Promoted

Alex

Alex

Personal Loan

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

Promoted

NOW FINANCE

NOW FINANCE

Unsecured Personal Loan

6.95% p.a.to 17.95% p.a.

6.95% p.a.to 17.95% p.a.based on $10,000
over 3 years

Promoted

Jacaranda Finance

Jacaranda Finance

Unsecured Personal Loan (Fixed, Excellent Credit)

7.59% p.a.to 8.89% p.a.

12.24% p.a.to 13.91% p.a.based on $30,000
over 5 years

Promoted

Liberty

Liberty

Personal Loan

7.65% p.a.to 26.99% p.a.

7.65% p.a.to 26.99% p.a.based on $30,000
over 5 years

Promoted

Wisr

Wisr

Unsecured Personal Loan

7.95% p.a.to 19.45% p.a.

8.78% p.a.to 20.4% p.a.based on $30,000
over 5 years

Promoted

SocietyOne

SocietyOne

Unsecured Personal Loan (Fixed)

6.99% p.a.to 9.49% p.a.

6.99% p.a.to 12.2% p.a.based on $10,000
over 3 years

Promoted

loans.com.au

loans.com.au

New Car Loan (Fixed)

4.67% p.a.

5.22% p.a.

$0.00

Promoted

loans.com.au

loans.com.au

Clean Green Car Loan

3.97% p.a.

4.51% p.a.

$0.00