The IMB fixed personal loan starts from as low as $2,000 and goes up to as much as $60,000. It is available for periods of between 1-5 years and no matter how long or how much you borrow, the interest rate will always stay a cool 6.89%.
Interest is calculated daily and charged monthly. Payment options are limited to monthly repayments but you can make extra repayments at any time (for free) but there is no redraw facility.
Although there are no ongoing account keeping fees, the IMB personal loan has a $250 application fee and a steep $50 fee if your payments are late.
Who it's good for:
This is one of the cheapest personal loans on the market so its a great loan to get if you need to cover some upfront expenses but don't have the cash right now to pay the full cost. And because you can pay out the loan early without any penalties it has great flexibility.
You'll need a car as security to put against the loan which may exclude some borrowers.