Bank First Green Personal Loan

The details shown below are for a fixed loan of at least $5,000

The details shown below are for a variable loan of at least $5,000

Choose the version of loan that suits you best

  • Loan: $5,000

  • Loan: $5,000

9.35% p.a.

10.39% p.a.based on $10,000
over 3 years

$150

Bank First Green Personal Loan

9.35% p.a.

10.39% p.a.based on $10,000
over 3 years

$150

9.35% p.a.

10.39% p.a.based on $10,000
over 3 years

$150

Bank First Green Personal Loan

9.35% p.a.

10.39% p.a.based on $10,000
over 3 years

$150

Mozo Review   Bank First Green Personal Loan Review

Last updated: 30 November 2018.

What's hot:
  • Interest rates starting from 9.35%

  • Extra repayments and redraw facility available

What's not:
  • $20 late payment fee

Mozo snapshot:

If you're looking for a personal loan that rewards you for your environmentally friendly pursuits (e.g a green home renovation), then you might have met your match with Bank First's Green Personal Loan. Not only will you receive a super low rate of 9.35% (9.97% comparison rate) but you'll also gain access to a range of flexible features in the form of an extra repayments and redraw facility. 

Sounds like a competitive personal loan right? Well, Bank First offers such great value across its entire range of banking products that it was named Australia's Best Mutual Bank of 2016 in the Experts Choice Australia's Best awards. 

Key features:

If you are borrowing to fund an environmentally friendly project or pursuit, then Bank First will reward you with a low rate of 9.35% (9.97% comparison rate). For repayment certainty you'll have the option to lock in your rate by going for the fixed option. But if you think you might benefit from rates going down over the course of your term, then leaving it variable is also an option. 

There's a $150 application fee and you'll be free of fees over the life of the loan with no monthly service charges. But keep in mind if you get behind on your regular repayments a $20 late payment fee applies. Loan terms are available from 1 to 7 years and the loan is unsecured, meaning you don't have to put up security. 

When it comes to flexibility, you might be happy to hear the Green Personal Loan comes packed with it. There's an extra repayments facility, allowing you to pump extra into your loan at any time, as well as a redraw facility which means you can dip into those extra repayments if needed down the track. Keep in mind each redraw must be a minimum of $500. You'll also get the flexible feature of choosing your repayment cycle either weekly, fortnightly or monthly.

Who it's good for:

As the name suggests, the Green Personal Loan is designed for those borrowing for environmentally friendly purposes. In return for your green pursuits, Bank First will reward you with a great variable or fixed rate and flexible features. 

Any catches?

One thing to keep in mind if you pick the fixed rate option is may have to pay a break cost fee if you pay out the loan during the fixed period. 

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
  • Fixed

  • 9.35% p.a. fixed

  • 10.39% p.a.based on $10,000
    over 3 years

Fees
  • $150.00

  • $0.00

  • $20.00

  • none

  • Break Cost Fee Applies

Other financial bits
  • $5,000.00

  • none

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Minimum Redraw of $500. Used for the purchase of environmentally friendly products.

  • 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.

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

  • 9.35% p.a.variable

  • 10.39% p.a.based on $10,000
    over 3 years

Fees
  • $150.00

  • $0.00

  • $20.00

  • none

  • $0.00

Other financial bits
  • $5,000.00

  • none

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Minimum Redraw of $500. Used for the purchase of environmentally friendly products.

  • 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 Bank First personal loans rated by the Mozo community?

Overall customer rating
9.3/10
Price
9.3/10
Features
8.3/10
Customer service
10.0/10
Convenience
7.0/10
Trust
9.7/10

Latest review of Bank First Green Personal Loan

  • 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...

    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

    Kelly | Victoria

    reviewed almost 3 years ago

Bank First

About Bank First

Formerly Victoria Teachers Mutual Bank, Bank First is an award winning financial institution with a competitive range of banking products including personal loans, home loans, term deposits and savings accounts. Founded by Australian educators in 1972, Bank First offers all Australians outstanding value but doesn't compromise on service or quality. Best of all, Bank First customers become equal shareholders which means all the benefits are directly returned to you.

See Bank First personal loans

Promoted

loans.com.au

loans.com.au

New Car Loan (Fixed)

5.44% p.a.to 5.94% p.a.

5.99% p.a.to 6.5% p.a.based on $30,000
over 5 years

$400.00upfront and $0.00/month

Promoted

Australian Military Bank

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

$100.00upfront and $10.00/month

Promoted

CUA

CUA

Secured Car Loan (Fixed)

6.79% p.a.

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

$265.00upfront and $0.00/month

Promoted

loans.com.au

loans.com.au

Used Car Loan (Fixed)

5.94% p.a.to 6.44% p.a.

6.49% p.a.to 7.0% p.a.based on $30,000
over 5 years

$400.00upfront and $0.00/month

Promoted

St.George

St.George

Secured Personal Loan

8.49% p.a.

9.60% p.a.based on $30,000
over 5 years

$195.00upfront and $12.00/month

Promoted

Harmoney

Harmoney

Unsecured Personal Loan

6.99% p.a.to 28.69% p.a.

7.69% p.a.to 29.55% p.a.based on $30,000
over 5 years

$500.00upfront and $0.00/month

Promoted

HSBC

HSBC

Unsecured Personal Loan

8.50% p.a.to 16.99% p.a.

9.06% p.a.to 17.53% p.a.based on $30,000
over 5 years

$150.00upfront and $5.00/month

Promoted

SocietyOne

SocietyOne

Unsecured Personal Loan - Excellent Credit (Fixed)

7.50% p.a.to 9.99% p.a.

9.51% p.a.to 12.71% p.a.based on $10,000
over 3 years

$300.00upfront and $0.00/month

Promoted

Australian Military Bank

Australian Military Bank

Unsecured Personal Loan - Excellent Credit (Variable)

7.88% p.a.to 18.82% p.a.

8.72% p.a.to 20.22% p.a.based on $30,000
over 5 years

$100.00upfront and $10.00/month

Promoted

NAB

NAB

Personal Loan (Variable, Unsecured)

12.69% p.a.to 18.69% p.a.

13.56% p.a.to 19.53% p.a.based on $30,000
over 5 years

$150.00upfront and $10.00/month

Promoted

ANZ

ANZ

Unsecured Personal Loan

12.45% p.a.

13.32% p.a.based on $30,000
over 5 years

$150.00upfront and $10.00/month

Promoted

CUA

CUA

Unsecured Personal Loan (Variable)

10.89% p.a.

11.15% p.a.based on $30,000
over 5 years

$175.00upfront and $0.00/month

Promoted

RACQ Bank

RACQ Bank

Unsecured Personal Loan

12.95% p.a.

13.25% p.a.based on $30,000
over 5 years

$200.00upfront and $0.00/month