| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Discounted Green Car Loan (Fixed, Secured) |
6.29% p.a. |
6.56% p.a.based on $30,000 |
$195.00 |
| Discounted Green Car Loan (Variable, Secured) |
6.29% p.a. |
6.56% p.a.based on $30,000 |
$195.00 |
| Discounted New Car Loan (Fixed, Secured) |
6.79% p.a. |
7.06% p.a.based on $30,000 |
$195.00 |
| Discounted New Car Loan (Variable, Secured) |
6.79% p.a. |
7.06% p.a.based on $30,000 |
$195.00 |
| Discounted Used Car Loan (Fixed, Secured) |
7.79% p.a. |
9.13% p.a.based on $10,000 |
$195.00 |
| Discounted Used Car Loan (Variable, Secured) |
7.79% p.a. |
9.13% p.a.based on $10,000 |
$195.00 |
| Green Car Loan (Fixed, Secured) |
9.29% p.a. |
9.57% p.a.based on $30,000 |
$195.00 |
| Green Car Loan (Variable, Secured) |
9.29% p.a. |
9.57% p.a.based on $30,000 |
$195.00 |
| New Car Loan (Fixed, Secured) |
9.79% p.a. |
10.07% p.a.based on $30,000 |
$195.00 |
| New Car Loan (Variable, Secured) |
9.79% p.a. |
10.07% p.a.based on $30,000 |
$195.00 |
| Personal Loan (Fixed, Unsecured) |
9.64% p.a. |
11.00% p.a.based on $10,000 |
$195.00 |
| Personal Loan (Variable, Unsecured) |
9.64% p.a. |
11.00% p.a.based on $10,000 |
$195.00 |
| Used Car Loan (Fixed, Secured) |
10.79% p.a. |
12.16% p.a.based on $10,000 |
$195.00 |
| Used Car Loan (Variable, Secured) |
10.79% p.a. |
12.16% p.a.based on $10,000 |
$195.00 |
Unsecured Personal Loans
With the Bank First unsecured personal loan there is both a variable rate and fixed rate option. On the one hand, your interest rate may go up or down as the market moves, or alternatively it could stay the same over the life of the loan.
No matter what option you choose the features and fees on the loan are the same. You can borrow anywhere upwards of $5,000 and choose a loan term anywhere from 1 to 7 years. There is also the choice of a weekly, fortnightly or monthly repayment schedule with the added option of extra repayments and redraws. Just bear in mind, on fixed loans there is a break cost fee if you pay off your entire loan early.
On this loan, you’ll also be up for an establishment fee but Bank First doesn't charge a monthly service fee. There is a late payment fee so it is a good idea to organise a direct debit on the payment due date to avoid this.
Car Loans
Like the unsecured personal loan, there is also a variable or fixed rate option for both new and used car loans offered by Bank First. For new cars, customers can borrow anywhere from $10,000, while for used cars the minimum is $5,000.
Loan fees and features are exactly the same as the personal loan product mentioned above. Loan terms range from 1 to 7 years, there are repayment schedule options, extra repayments and redraws are available and there are minimal fees to worry about. Similarly, the fixed rate car loans have an early repayment penalty attached to them.
Green Loans
Looking to make an eco-friendly purchase? If you’re getting a loan for environmentally conscious home improvements such as solar panels or your car you’re purchasing has a CO2 value of 180g/km or less as rated by the Australian Government Green Vehicle Guide you’ll be eligible for a discounted interest rate.
There are both fixed and variable rate options across green personal loans and car loans.
The simplest way to apply for a Bank First personal loan is online. You can also call the customer service hotline or visit one of the service centres if you’d like to discuss options regarding your specific financial circumstances prior to applying for the loan. In order to be eligible for a loan you’ll need to be over the age of 18 years and an Australian citizen.
If you’re applying for a student loan, you’ll need to prove that you are a full-time student in a University, TAFE, CAE, apprenticeship, traineeship or other registered course and have successfully completed at least one year of study. You will also need security for the loan, either via a guarantor or car.
Mozo users have rated Bank First personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
Excellent service and competitive products.
Read full reviewExcellent service and competitive products.
Our bank is extremely assessable even though we don't have a branch in our city. You never have to wait in queue on the phone and the staff are always helpful.
Read full reviewOur bank is extremely assessable even though we don't have a branch in our city. You never have to wait in queue on the phone and the staff are always helpful.
This bank treats customers as a person, not a number. Call-backs are always followed through, the product range is vast, and the premiums and interest rates are highly competitive.
Read full reviewThis bank treats customers as a person, not a number. Call-backs are always followed through, the product range is vast, and the premiums and interest rates are highly competitive.
The whole process was very simple. Once all of the paperwork had been lodged (through email to a person, not a computer), it was funded within the day. The consultant who assisted me was amazing. If ever I have had a query or wanted to change payment options, I simply email the same person and my request is done within a matter of minutes.
Read full reviewThe whole process was very simple. Once all of the paperwork had been lodged (through email to a person, not a computer), it was funded within the day. The consultant who assisted me was amazing. If ever I have had a query or wanted to change payment options, I simply email the same person and my request is done within a matter of minutes.