| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Car Loan (Fixed) |
8.24% p.a. |
8.87% p.a.based on $30,000 |
$199.00 |
| Secured Personal Loan (Fixed) |
8.24% p.a. |
8.90% p.a.based on $30,000 |
$199.00 |
| Unsecured Personal Loan (Fixed) |
9.99% p.a. |
10.65% p.a.based on $30,000 |
$199.00 |
Personal Loan
The P&N Bank personal loan comes with a variable rate and has both a secured and unsecured option. The loans work in exactly the same way when it comes to borrowing amounts, repayments and fees. However, if you opt for a secured loan you’ll have to put up an asset against the loan in return for a lower rate. On the other hand, with an unsecured loan you don’t need to risk your belongings against the loan but you will receive a higher rate.
Loan terms range from 2 to 5 years with the P&N Bank personal loan and customers can borrow anywhere upwards of $5,000. There is the option of a weekly, fortnightly or monthly repayment schedule - plus extra repayments and redraws are allowed.
When it comes to fees, there are no exit or break costs if you pay off your loan early. Just bear in mind there is an application fee and monthly service charge.
Car Loan
P&N Bank also has a variable rate car loan on offer for customers. It has all the same loan terms, amounts, repayment options and fees. The only difference is that you must put the car that you intend to buy up as security against the loan.
Repayment schedule options: P&N Bank gives customers the option to pay off their personal loan on a weekly, fortnightly or monthly regular repayment schedule.
Free extra repayments: With P&N Bank personal loans, not only can customers make regular repayments, there is also the option to make free extra repayments too.
Redraw facility: Want the flexibility of a redraw facility? P&N Bank personal loans come equipped with this feature to assist customers if they need to access their additional funds at all.
No break cost: There are no break costs or early repayment penalties attached to any P&N Bank personal loans, meaning you won’t be slapped with a fee if you pay off your entire debt ahead of time.
There are a few options when it comes to applying for a P&N Bank personal loan - you can do it online, over the phone or in person.
To qualify you must:
Be living in Western Australia OR already be a P&N Bank member
Be an individual over the age of 18
Be an Australian citizen or permanent resident
Have a regular income.
There are also a few things you’ll need with you to complete an application with P&N Bank. These are:
Two forms of identification (driver’s licence, passport or medicare)
Your income details
Expenses information (living, insurance etc)
Asset information (what you own - car, savings, home etc)
Liability information (what you owe - outstanding loans, credit cards etc).
Mozo users have rated P&N Bank personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
P&N Bank is great for service and understandingly consumer focused. I have been with them for quite some time, and wouldn't go anywhere else.
Read full reviewP&N Bank is great for service and understandingly consumer focused. I have been with them for quite some time, and wouldn't go anywhere else.
I would recommend P&N bank to everyone, all my family use them. It's great to know that when you have any question your call will be answered quickly by a local branch employee.
Read full reviewI would recommend P&N bank to everyone, all my family use them. It's great to know that when you have any question your call will be answered quickly by a local branch employee.
I have been with the P&N bank for 27 years & always had great service ! Their interest rates are very fair & lower than most other banks ! Whenever I speak to their customer service team , they are always friendly & helpful. Their only problem is they don't have many branches outside the metro area... But they are always available & quick to help on the phone !!
Read full reviewI have been with the P&N bank for 27 years & always had great service ! Their interest rates are very fair & lower than most other banks ! Whenever I speak to their customer service team , they are always friendly & helpful. Their only problem is they don't have many branches outside the metro area... But they are always available & quick to help on the phone !!