7.6 / 10

based on 579 reviews as rated by Mozo community

MyState Bank personal loans

As the largest Tasmanian-owned financial provider, MyState Bank offers customers variable rate personal loans to suit a range of purposes. If you’re one to fall for
competitive rates and nifty features, continue reading and find out more...

MyState Bank offers the following personal loans

Rates and fees verified as correct at 04 December, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
General Purpose Personal Loan (Unsecured, Fixed)

9.99% p.a.

12.45% p.a.based on $10,000
over 3 years

$200

General Purpose Personal Loan (Variable, Unsecured)

9.99% p.a.

13.51% p.a.based on $10,000
over 3 years

$200

Secured Personal Loan (vehicles 2-7 years old, Fixed)

8.49% p.a.

9.12% p.a.based on $30,000
over 5 years

$200

Secured Personal Loan (vehicles 2-7 years old, Variable)

9.49% p.a.

10.46% p.a.based on $30,000
over 5 years

$200

Secured Personal Loan (vehicles up to 2 years old, Fixed)

6.99% p.a.

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

$200

Secured Personal Loan (vehicles up to 2 years old, Variable)

7.99% p.a.

8.96% p.a.based on $30,000
over 5 years

$200

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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

MyState personal loans overview

Unsecured personal loan:

Whether you need a personal loan to help fund a dream wedding or home reno, the MyState unsecured loan could be for you. You won’t need collateral to secure it, which spells less paperwork but a higher interest rate than the secured version detailed further down the page. Like all MyState personal loans, the variable interest rate is subject to change at any point during the loan term. Loan amounts range from as little as $3,000 to $50,000 and are repaid on terms of up to seven years. Extra repayments on a MyState unsecured loan can be made at no extra cost, plus there are zero break costs for wiping off that debt at any time. You can also dip into any extra repayments via a redraw facility, but keep in mind there’s a $500 minimum. If you’re considering this loan, don’t forget to factor in monthly admin fees and an initial cost to sign up.

Secured personal loan:

MyState secured personal loans have two interest rate tiers dependent on the age of the car you secure it against. If you take out this loan and secure with a vehicle two years old or younger, you’ll score a lower interest rate than a set of wheels between two and seven years of age. You can borrow $10,000 to $75,000 and repay it on a term of up to ten years. Just like the unsecured MyState loan described before, you can make extra repayments and there are zero break fees. Plus, you can make use of your extra repayments via a redraw facility and withdraw funds (with a minimum requirement). Monthly fees and a one off sign up cost applies when you first take out the loan.

MyState personal loan features at a glance

How do you apply for a MyState personal loan?

If you want to take out a MyState personal loan, you can call, apply online or apply at a branch if you live in Tasmania. MyState will process your application swiftly and let you know of any hiccups along the way.

To apply for a personal loan with MyState you will need:


How are MyState Bank personal loans rated?

Mozo users have rated MyState Bank personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
MyState Bank personal loans
Overall
7.5/10
Price
Features
Customer service
Convenience
Trust

30 Reviews

Recent MyState Bank personal loan reviews

MyState Bank General Purpose Personal Loan review
Overall 6/10
MyState aren't that helpful

I am tired of getting 30 dollar fees when my loan's are slightly overdrawn. Rather than helping me to put all my debts in one account they won't lend me the fund's because I am on a disability pension & they don't seem to care. I am human not a Robot l need food, power, etc. Please help me.

Read full review

I am tired of getting 30 dollar fees when my loan's are slightly overdrawn. Rather than helping me to put all my debts in one account they won't lend me the fund's because I am on a disability pension & they don't seem to care. I am human not a Robot l need food, power, etc. Please help me.

Price
4/10
Features
4/10
Customer service
7/10
Convenience
5/10
Trust
6/10
Less
Tracy, Tasmania reviewed almost 3 years ago
MyState Bank Secured Personal Loan review
Overall 9/10
Excellent all round

They are professional, courteous and care for their customers. I would not go anywhere else.

Read full review

They are professional, courteous and care for their customers. I would not go anywhere else.

Price
8/10
Features
8/10
Customer service
10/10
Convenience
9/10
Trust
9/10
Less
Jennie, Tasmania reviewed over 5 years ago
MyState Bank General Purpose Personal Loan review
Overall 7/10
Highly recommended

Fantastic credit union with great customer service.

Read full review

Fantastic credit union with great customer service.

Price
5/10
Features
5/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Ben, Tasmania reviewed over 5 years ago
MyState Bank General Purpose Personal Loan review
Overall 10/10
Great customer service, focus and professionalism

Exceptional customer service focus from Mystate credit union. The product features were thoroughly explained and when I was taken ill, the loan manager deterred my payments and sat with me to work out a repayment plan which suited me given the change of circumstances. Understanding, concerned and most professional loan manager.

Read full review

Exceptional customer service focus from Mystate credit union. The product features were thoroughly explained and when I was taken ill, the loan manager deterred my payments and sat with me to work out a repayment plan which suited me given the change of circumstances. Understanding, concerned and most professional loan manager.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Puspa, Tasmania reviewed over 6 years ago

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