If you're looking for a way to finance a large upcoming expense like your wedding or next holiday abroad, you may be interested in IMB Bank's Secured Personal Loan which is offering an impressively low fixed rate of 6.84% p.a. (7.19% p.a. comparison rate*) for borrowers willing to put up a new or used vehicle (up to 6 years old) as security. The loan was even named by our expert judges as a 2024 Mozo Experts Choice Personal Loan Award winner in the best Secured Personal Loan category.
The IMB Bank Secured Personal Loan starts from as low as $2,000 and goes up to as much as $75,000. It is available for periods between 1-7 years and no matter how long or how much you borrow, the fixed interest rate will always stay a cool 6.84% p.a. (7.19% p.a. comparison rate*).
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). However, once you make additional contributions there is no turning back as you cannot make redraws on this loan.
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.
This is a great low-rate 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.
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Fixed |
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6.84% p.a. fixed |
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7.19% p.a.based on $30,000 |
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$250.00 |
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$0.00 |
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$50.00 |
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$0.00 |
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$0.00 |
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$2,000.00 |
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$75,000.00 |
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1 Year |
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7 Years |
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Vehicle |
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- |
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Weekly, Fortnightly, Monthly |
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yes |
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no |
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Must be secured with a vehicle up to 6 years old. For more information, go to https://www.imb.com.au/ |
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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.
Was approved for personal loan, it was fair & affordable witj other life expenses.
Read full reviewWas approved for personal loan, it was fair & affordable witj other life expenses.
IMB bank is one of the best banks in Australia, however they need to stop using Equifax a corrupted, incompetent and worse Credit agency in Australia and America. In Australia the have made mistakes on every single Australians meta data credit history in regards to information of their address, previous leading deatols and more mistakes from them which is extremely dangerous. IMB is a great financial institution I have seen, but huge problem they have is using Equifax.
Read full reviewIMB bank is one of the best banks in Australia, however they need to stop using Equifax a corrupted, incompetent and worse Credit agency in Australia and America. In Australia the have made mistakes on every single Australians meta data credit history in regards to information of their address, previous leading deatols and more mistakes from them which is extremely dangerous. IMB is a great financial institution I have seen, but huge problem they have is using Equifax.
The customer service received by the IMB team is completely unprofessional, asking probing questions on a continual basis about personal family matters associated with our loan. Their level of communication and ability to listen is very poor. They evoked a real air of distrust and I would seriously dissuade anyone from dealing with this company.
Read full reviewThe customer service received by the IMB team is completely unprofessional, asking probing questions on a continual basis about personal family matters associated with our loan. Their level of communication and ability to listen is very poor. They evoked a real air of distrust and I would seriously dissuade anyone from dealing with this company.
I have been with this bank for 15 years when I went to apply for a personal loan it was not accepted even though I had a credit card with them. They suggested I try another bank or increase my credit limit which I did not want to do I did not find them helpful or care about me as a person, I have just opened up another account with a bank that has approved my loan and treats me with the respect that I deserve.
Read full reviewI have been with this bank for 15 years when I went to apply for a personal loan it was not accepted even though I had a credit card with them. They suggested I try another bank or increase my credit limit which I did not want to do I did not find them helpful or care about me as a person, I have just opened up another account with a bank that has approved my loan and treats me with the respect that I deserve.
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Debt Consolidation
6.57% p.a.to 18.99% p.a.
7.19% p.a.to 19.39% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Clean Green Car Loan
7.69% p.a.
8.80% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Low Rate Personal Loan
9.14% p.a.to 11.19% p.a.
9.50% p.a.to 11.56% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years