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IMB Bank New Car Loan (up to 2 years old)

Advertiser disclosure
Interest rate from
4.88% p.a.
Comparison rate from
5.23% p.a.based on $30,000
over 5 years
Upfront fee

Mozo editorial review IMB Bank New Car Loan (up to 2 years old) - last updated: 12 January 2022

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What's hot
  • Fixed interest rates from 4.88% (5.23% comparison rate*)
  • No service or exit fees
What's not
  • $250 upfront fee
Mozo snapshot

The IMB Bank New Car Loan can give borrowers the security of a fixed rate and keep costs low at the same time, with no ongoing fees. You’ll be able to borrow up to a massive $75,000 for a maximum of seven years. 

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Key features

In the market for a brand new car? Then you might want to give the IMB Bank New Car Loan a look. With a low 4.88% fixed interest rate (5.23% comparison rate*) and no service or exit fees you’ll be able to enjoy a budget-friendly loan as you drive into the sunset in your fresh set of wheels. 

There’s also some great flexibility on offer, as you’ll be able to make your repayments on a weekly, fortnightly or monthly basis, plus you’ll have the option to make additional repayments to your loan. You’ll have access of up to $75,000 to be repaid over a maximum of 7 years, but just keep in mind that you’ll need to be purchasing a car that’s under two years old. 

Also remember there is a $250 application fee with this loan and if you ever miss a repayment, you will be charged a $50 late payment fee. However, you won’t be charged any ongoing fees. 

Who is it good for

The IMB Bank New Car Loan could be a good option for Aussies borrowers looking to pick up a new car that’s not more than two years old and are after a sweet low rate.  

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Any catches

The IMB Bank New Car Loan is only available for cars that are up to two years old, so if you were thinking of picking up a car older than this, you will have to consider another loan, like the IMB Bank Secured Personal Loan


Rates and fees information correct as at 16 May 2022. 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.


4.88% p.a. fixed

5.23% p.a.based on $30,000
over 5 years







Other financial bits



1 Year

7 Years






Available for new vehicles or up to 2 years old


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.

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