Choose the version of this loan that suits you best
Loan type | Name | Min loan amount | Max loan amount | |
---|---|---|---|---|
|
Variable | Lifestyle Personal Loan (Variable, Unsecured) | $1,000 | |
|
Variable | Lifestyle Personal Loan (Variable, for Property Owners, Secured) | $1,000 |
Coming from the 2019 Mozo Experts Choice Australia’s Best Customer Owned Bank, the Bank Australia Lifestyle Personal Loan offers flexibility, minimal borrowing restrictions and next to no fees. Borrowers can take out anywhere from $1,000, there’s no maximum loan amount. Bank Australia also offers a wide range of loan terms from 1 to 10 years, and you can make extra repayments throughout the life of the loan without being slapped with a fee every time you do.
Whether you are funding your wedding, home renovation or next holiday adventure, Bank Australia’s Lifestyle Personal Loan could be the loan you’ve been searching for as you can borrow a minimum of $1,000 with no maximum limit.
Bank Australia’s Lifestyle Personal loan is an unsecured loan so you won’t have to worry about offering up collateral, like your house or car; however, this does mean you’ll face a hefty interest rate. This unsecured loan comes with a 9.89% (10.93% comparison rate*) with loan terms spanning from 1 to 10 years.
But while there is a hefty interest rate to consider, borrowers have the ability to choose their own repayment schedule, whether that’s weekly, fortnightly or monthly, and can make early repayments for free if they want to. Keep in mind though, unless you're a home-owner, there is no redraw facility on this loan so if you make extra repayments, you can’t access those funds later on.
While you will save on fees throughout the life of this loan as there are no service, late payment or exit fees on this personal loan, you will face a $150 fee when you first apply.
The Bank Australia Lifestyle Personal Loan could be a good option for a borrower who wants flexibility when it comes to making repayments, and doesn’t want to provide security.
While there are complimentary extra repayments on this loan, there is no redraw facility so think carefully before putting more money towards the loan, as you won’t be able to get your hands on it later if you need to.
Variable |
|
9.89% p.a.variable |
|
10.93% p.a.based on $10,000 |
$150.00 |
|
$0.00 |
|
$0.00 |
|
$0.00 |
|
$0.00 |
$1,000.00 |
|
none |
|
1 Year |
|
10 Years |
|
Unsecured |
- |
|
Weekly, Fortnightly, Monthly |
|
yes |
|
no |
|
none |
|
none |
WARNING: 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. 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.
Variable |
|
7.89% p.a.variable |
|
8.92% p.a.based on $10,000 |
$150.00 |
|
$0.00 |
|
$0.00 |
|
$0.00 |
|
$0.00 |
$1,000.00 |
|
none |
|
1 Year |
|
10 Years |
|
Residential Property |
- |
|
Weekly, Fortnightly, Monthly |
|
yes |
|
yes |
|
none |
|
none |
WARNING: 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. 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.
I applied for a personal loan on Monday and it was approved/made available by Thursday.
Read full reviewI applied for a personal loan on Monday and it was approved/made available by Thursday.
The ease and promptness of having a personal loan application was fantastic. When I needed a replacement card, the limited options of branches open on a Saturday to withdraw cash was very frustrating.
Read full reviewThe ease and promptness of having a personal loan application was fantastic. When I needed a replacement card, the limited options of branches open on a Saturday to withdraw cash was very frustrating.
Never had a problem with them .
Read full reviewNever had a problem with them .
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Debt Consolidation
6.57% p.a.to 18.99% p.a.
7.19% p.a.to 19.39% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Clean Green Car Loan
7.29% p.a.
8.41% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Clean Green Car Loan
7.29% p.a.
8.41% p.a.
$8.00