8.7 / 10

based on 430 BankVic reviews as rated by Mozo community

BankVic personal loans

After a new loan for a car, boat or home renovation? BankVic’s got a range of personal loan options for you to choose from. While BankVic’s roots are in Victoria, it doesn’t mean you have to be. Anyone can become a member of BankVic to take advantage of its personal loans as long as you meet the application criteria, are over the age of 18 and become a BankVic member. Below is a summary of the loans available that we compare, but you can also check out our full personal loan comparison tool to see how BankVic’s rates and fees compare with other lenders.

BankVic offers the following personal loans

Rates and fees verified as correct at 24 June, 2021. Other information correct at the time of writing. Advertiser disclosure.

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

6.99% p.a.

7.12% p.a.based on $30,000
over 5 years

$90

Unsecured Personal Loan (Fixed)

9.95% p.a.

10.57% p.a.based on $10,000
over 3 years

$90

Unsecured Personal Loan (Variable)

9.95% p.a.

10.57% p.a.based on $10,000
over 3 years

$90

Unsecured Personal Loan Special (Variable)

7.95% p.a.

7.95% p.a.based on $10,000
over 3 years

$0

What personal loans does BankVic offer? 

Unsecured Personal Loan 

Unsecured personal loan options from BankVic have either a variable interest rate or fixed rate. On one hand your rate may stay the same over the life of the loan (fixed) or it could fluctuate with the market (variable), meaning it could go up or down over the life of your loan 

With a BankVic personal loan you’ll be able to borrow as little as $500 up to a maximum of $30,000. You’ll have an option to choose the loan term that best suits your budget too, as BankVic allows you to select repayment terms from 1 to 5 years. Plus, you can choose to time your repayments with your pay cycle, with the option of between weekly, fortnightly and monthly repayments. Not only that, you can also make free extra repayments too. 

While there is an upfront application fee of $90 for all BankVic personal loans, unlike many other loans in the market there are no ongoing fees like service fees, late payment or exit fees. Plus, for a limited time BankVic is offering an application fee waiver to customers. 

Car Loan 

Car loans with BankVic are fixed interest rate loans. They work in a very similar way to the unsecured personal loan options in terms of fees and features. However, BankVic car loans have different limits. There is no maximum (as long as you can afford the repayments) and the minimum loan amount is $10,000. 

It’s also important to note, there is no application fee waiver available on this loan - so make sure to budget for that upfront cost. 

BankVic personal loan features at a glance 


How do you apply for a BankVic personal loan? 

There are three easy ways you can apply: online, over the phone or in-branch. You’ll need to be a BankVic member and you’ll also need to supply the usual information like your driver’s licence or passport as well as proof of income and details of assets/liabilities.

Here’s a rundown of what you’ll need:  


How are BankVic personal loans rated?

Mozo users have rated BankVic 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
BankVic personal loans
Overall
8.2/10
Price
Features
Customer service
Convenience
Trust

10 Reviews

Recent BankVic personal loan reviews

BankVic Personal Loan review
Overall 5/10
They care

Very good for the common person.

Read full review

Very good for the common person.

Price
8/10
Features
5/10
Customer service
7/10
Convenience
5/10
Trust
7/10
Less
Mark, Victoria, reviewed over 5 years ago
BankVic Personal Loan review
Overall 9/10
Competitive premiums and great customer servicer

Good.

Price
8/10
Features
9/10
Customer service
8/10
Convenience
9/10
Trust
8/10
Less
Charles, Northern Territory, reviewed over 5 years ago
BankVic Personal Loan review
Overall 4/10
Service by staff is above average

For members only, I don't think they really have tried with their interest rates.

Read full review

For members only, I don't think they really have tried with their interest rates.

Price
4/10
Features
3/10
Customer service
6/10
Convenience
6/10
Trust
7/10
Less
Margaret, Victoria, reviewed about 6 years ago
BankVic Personal Loan review
Overall 7/10
Truly happy with their service

BankVic have really looked after me. Their one on one service is really something I appreciate with this bank. Here you are treated as a person and not a number.

Read full review

BankVic have really looked after me. Their one on one service is really something I appreciate with this bank. Here you are treated as a person and not a number.

Price
8/10
Features
8/10
Customer service
8/10
Convenience
6/10
Trust
7/10
Less
James, Victoria, reviewed over 6 years ago

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