MyState Bank personal loans

MyState Bank
MyState Bank's overall rating for personal loans

(as rated by the Mozo community)

7.5 / 10

based on 30 reviews

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 14 August, 2020. Other information correct at the time of writing.

Product Interest rate from Comparison rate from* Upfront fee

9.99% p.a.

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


9.99% p.a.

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


8.49% p.a.

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


9.49% p.a.

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


6.99% p.a.

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


7.99% p.a.

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


*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. WARNING: 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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What personal loans do MyState offer?

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

Repayment flexibility: 

Personal loan repayments are easy because you can choose between weekly, fortnightly or monthly dates.

Extra repayments: 

MyState allow you to make as many extra repayments as you please, and no charges are applied.

Optional loan insurance: 

With MyState, you can take out a loan insurance policy to cover circumstances that impact on your ability to meet repayments (such as falling ill). Refer to its site for the finer points.

MyState customer reviews:

To get the lowdown on what everyday Australians just like you are saying about their experiences with MyState, look no further than this customer reviews section on our site.

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:

More helpful personal loan quick links