8.9 / 10

based on 408 reviews as rated by Mozo community

Bank First personal loans

When it comes to personal loan choices, Bank First has just about every borrowing situation covered. From discounted green loans, student loans, new car or used car loans, you’ll have plenty of choice when finding a personal loan for your needs.  

Below is a summary of all the loans available by Bank First. To review the loan in detail click on the product name link in the table below or if you’d like to compare the loans available through Bank First with other providers, head over to our personal loans hub.

Bank First offers the following personal loans

Rates and fees verified as correct at 29 November, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Discounted Green Car Loan (Fixed, Secured)

5.29% p.a.

5.56% p.a.based on $30,000
over 5 years

$195

Discounted Green Car Loan (Variable, Secured)

5.29% p.a.

5.56% p.a.based on $30,000
over 5 years

$195

Discounted New Car Loan (Fixed, Secured)

5.79% p.a.

6.06% p.a.based on $30,000
over 5 years

$195

Discounted New Car Loan (Variable, Secured)

5.79% p.a.

6.06% p.a.based on $30,000
over 5 years

$195

Discounted Used Car Loan (Fixed, Secured)

6.79% p.a.

8.12% p.a.based on $10,000
over 3 years

$195

Discounted Used Car Loan (Variable, Secured)

6.79% p.a.

8.12% p.a.based on $10,000
over 3 years

$195

Green Car Loan (Fixed, Secured)

8.29% p.a.

8.57% p.a.based on $30,000
over 5 years

$195

Green Car Loan (Variable, Secured)

8.29% p.a.

8.57% p.a.based on $30,000
over 5 years

$195

Green Personal Loan (Variable, Unsecured)

7.25% p.a.

8.59% p.a.based on $10,000
over 3 years

$195

Green Personal Loan (Fixed, Unsecured)

7.25% p.a.

8.59% p.a.based on $10,000
over 3 years

$195

New Car Loan (Fixed, Secured)

8.79% p.a.

9.07% p.a.based on $30,000
over 5 years

$195

New Car Loan (Variable, Secured)

8.79% p.a.

9.07% p.a.based on $30,000
over 5 years

$195

Overdraft (Variable, Unsecured)

12.79% p.a.

n/a

$0

Personal Loan (Fixed, Unsecured)

9.64% p.a.

11.00% p.a.based on $10,000
over 3 years

$195

Personal Loan (Variable, Unsecured)

9.64% p.a.

11.00% p.a.based on $10,000
over 3 years

$195

Share Loan (Fixed, Unsecured)

8.15% p.a.

9.49% p.a.based on $10,000
over 3 years

$195

Share Loan (Variable, Unsecured)

8.15% p.a.

9.49% p.a.based on $10,000
over 3 years

$195

Used Car Loan (Fixed, Secured)

9.79% p.a.

11.15% p.a.based on $10,000
over 3 years

$195

Used Car Loan (Variable, Secured)

9.79% p.a.

11.15% p.a.based on $10,000
over 3 years

$195

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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Key information about Bank First Personal Loans

Eligibility: 

The good news is that you don’t have to be a teacher or even part of the education industry to bank with Bank First, but 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.

Loan Features:

Fees: 

You’ll be up for a loan establishment fee but Bank First loans do not have a monthly service fee. There is a late payment fee of $20 so it is a good idea to organise a direct debit on the payment due date to avoid this.

How to apply:

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.


How are Bank First personal loans rated?

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.

Icon of personal-loans
Bank First personal loans
Overall
9.4/10
Price
Features
Customer service
Convenience
Trust

7 Reviews

Recent Bank First personal loan reviews

Bank First Personal Loan (Unsecured) review
Overall 10/10
Outstanding service.

Excellent service and competitive products.

Read full review

Excellent service and competitive products.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Dimitra, Victoria reviewed 8 months ago
Bank First Green Personal Loan review
Overall 9/10
Always assessable and great customer service.

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 review

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.

Price
9/10
Features
10/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Kelly, Victoria reviewed almost 5 years ago
Bank First Used Car Loan review
Overall 10/10
Excellent customer service, competitive premiums.

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 review

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.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Suzanne, Victoria reviewed over 5 years ago
Bank First Personal Loan Special (Unsecured) review
Overall 9/10
Personal service that leaves the Big Four for dead

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 review

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.

Price
9/10
Features
8/10
Customer service
10/10
Convenience
9/10
Trust
9/10
Less
Ryan, Victoria reviewed over 5 years ago

Personal loan quick links