What you’ll get with a Hume Bank Personal Loan:
- Fixed interest rate. All hume bank personal loans are fixed which means that during your loan term your repayments will remain fixed, so no nasty surprises. There’s no early termination fee and you can make extra repayments so if you decide to pay out your loan early you will not be penalised.
- Choice of secured or unsecured loan. Secured loans are the popular choice when you are borrowing money for a new car as it will mean a cheaper interest rate for you. Unsecured loans are more common when borrowing money for a holiday or other expense like a wedding. Generally you’ll pay a higher interest rate with these loans but will have more flexibility.
- Loan amounts to suit your needs. There is a minimum loan amount of $2000 with Hume Bank but there is no maximum (as long as you can meet the repayments) so you can fund your holiday or new car to suit your lifestyle.
- Repayment flexibility. Time your repayments to suit your lifestyle. You’ll have the choice of opting for weekly, monthly or fortnightly repayments. Just make sure that if you automate any repayments, so that you won’t be hit up with a $20 late payment fee.
- Loan term to suit your repayment capacity. Hume Bank has loan terms from 1 to 7 years so that you can choose the term to best suit your lifestyle needs. Just remember that the longer your loan term, the more interest you’ll end up paying so try and choose a loan term that will mean you’re not stretched financially but also not too lax that you’ll pay interest when you don’t need to.
- No ongoing fees. Once you’ve got your Hume Bank Personal Loan, the good news is that all of your repayments will go towards paying down your loan, not in bank fees.
Other essentials to know:
- You’ll need to be at least 18 years of age to get a loan with Hume Bank
- You’ll need to be a permanent Australian resident or citizen
- You can apply for your loan online, there’s no need to visit a Hume Bank branch until it’s time to sign your loan contract
- Make sure you’ve got copies of your ID, details of your assets, liabilities and income