Beyond Bank Low Rate Car Loan Special Offer

5.69% p.a.

5.97% p.a.based on $30,000
over 5 years

$200

Beyond Bank Low Rate Car Loan Special Offer Review

Rates and fees information correct as at 19 September 2018.

Review published: 13 July 2015

What's hot:

  • Competitive 5.69% fixed interest rate

  • No ongoing service fee

  • Extra repayments facility and offset account available

  • Mozo Experts Choice Award 2017

What's not:

  • Minimum loan $25,000

  • Car must be less than 3 years old

Mozo snapshot:

Beyond Bank’s Low Rate Car Loan (Special Offer) has everything you’d want in a top car loan, which is why it was awarded a 2017 Mozo Experts Choice Award for best value car loan. It has a super low 5.69% fixed interest rate, no ongoing service fee, and flexible features to help you save over the term of your car loan like fee free extra repayments and an offset account. 

Key features:

An easy online application approval is all you’ll need to access Beyond Bank’s competitive 5.69% fixed rate (the comparison rate is 5.97%) and fund your new ride. With your interest rate locked in for the life of the loan, you’ll easily be able to budget for your loan repayments.

You can also make additional repayments whenever you like if you have any spare cash burning a hole in your pocket and better yet, you won’t be charged any fees if you pay out your car loan early. If you need to free up funds later on, you can access any advanced payments via the free redraw facility.

There is also an offset facility available where you can reduce the amount of interest you pay over the term of the loan by linking your car loan to an offset account (aka Beyond Bank’s Car Budget Account), but if you’re looking at a pre-owned Yaris this isn’t the loan for you as the car must be less than 3 years old.

The Low Rate Car Loan (Special Offer) is available on loans starting from $25,000 and you can borrow up to 100% of your vehicle’s purchase price. Loan terms range from 1 - 7 years and there is a choice of weekly, fortnightly and monthly repayments.  

Who it's good for:

People who are looking at buying a new mid-range car over $25,000 and want a competitive fixed rate with the option of money saving features like an offset account and free extra repayments.

You must also be over the age of 18 and have a regular net income of over $2,000 per month.

Any catches?

While there are no ongoing service fees, there is a $200 upfront fee and if you miss a payment you’ll be charged a $20 late payment fee, so set up automatic repayments as soon as you drive out of the showroom.

The Mozo community has not yet rated Beyond Bank for this personal loan.

Rates

  • Fixed

  • 5.69% p.a. fixed

  • 5.97% p.a.based on $30,000
    over 5 years

Fees

  • $200.00

  • $0.00

  • $20.00

  • $0.00

  • $0.00

Other financial bits

  • $25,000.00

  • none

  • 1 Year

  • 7 Years

  • Vehicle

Features

  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Maximum age of vehicle is 3 years.

  • none

About Beyond Bank

Beyond Bank, formerly Community CPS, is one of Australia's largest customer owned banks. Based in South Australia, Beyond Bank operates more than 46 branches across the country. Beyond Bank offers a wide range of banking and financial products including home loans, credit cards, savings accounts, term deposits, bank and and business accounts, and personal loans. The winning combination of great products and local service has helped Beyond Bank win many industry awards, including Best Credit Union in the Mozo People's Choice Awards 2012.

*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.

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