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Beyond Bank Low Rate Car or Personal Loan

Advertiser disclosure
Interest rate from
6.49% p.a.
Comparison rate from
7.62% p.a.based on $30,000
over 5 years
Upfront fee
$175

Mozo editorial review Beyond Bank Low Rate Car or Personal Loan

Last updated: 11 February 2021.

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What's hot
  • 6.49% fixed rate (7.62% comparison rate*)
  • Free extra repayments
  • Redraw facility
What's not
  • $175 upfront fee
Mozo snapshot

The Beyond Bank Low Rate Car or Personal Loan not only comes with a solid fixed rate but also has a bunch of flexible features. Whether it's to fund the purchase of a car or another big purchase, as long as you put up a vehicle as security you can borrow anywhere from $5,000. There’s also plenty of options when it comes to loan terms and regular repayments, as well as the option to make free extra repayments and redraws.

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Key features

There are plenty of things going for the Beyond Bank Low Rate Car or Personal Loan. This product comes with a fixed interest rate, meaning it won’t change over the life of the loan. Plus, you can borrow upwards of $5,000 and choose a term between 1 to 7 years. 

But what about the repayment features? Well, Beyond Bank lets you choose what’s best for you. There’s the option of making weekly, fortnightly or monthly repayments as well as free extra repayments and a redraw facility. 

And when it comes to fees there are only a handful attached to this loan. There are no exit or early repayment costs, just keep in mind there is an upfront $175 application charge straight off the bat and a $5 ongoing monthly service fee.

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Who is it good for

This could be a good option for borrowers looking to buy a vehicle or make a large personal purchase. It is a secured option, so customers must put up a vehicle that is a maximum of 6 years old against the loan as collateral.

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Any catches

Remember, this loan is designed for customers borrowing upwards of $5,000 for either a car or personal purchase. However, if you are borrowing $25,000 or more, and are looking to purchase a vehicle, you may qualify for a lower interest rate with the Beyond Bank Low Rate Car Loan Special Offer.

Details

Rates and fees information correct as at 23 June 2021. 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

  • 6.49% p.a. fixed

  • 7.62% p.a.based on $30,000
    over 5 years

Fees
  • $175.00

  • $5.00

  • $20.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • none

  • 1 Year

  • 7 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Maximum age of vehicle is 6 years.

  • none

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.

Customer Reviews

How are Beyond Bank personal loans rated by the Mozo community?

Overall
8.3/10
Price
8.0/10
Features
7.2/10
Customer service
8.8/10
Convenience
8.5/10
Trust
8.5/10

Latest reviews of Beyond Bank Low Rate Car or Personal Loan

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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.

See Beyond Bank personal loans