The details shown below are for a variable loan between $5,000 and $50,000
The details shown below are for a fixed loan between $5,000 and $50,000
The details shown below are for a variable loan between $5,000 and $50,000
Choose the version of this loan that suits you best
| Loan type | Min loan amount | Max loan amount | |
|---|---|---|---|
| | Variable | $5,000 | $50,000 |
| | Fixed | $5,000 | $50,000 |
| | Variable | $5,000 | $50,000 |
Loan: $5,000 $50,000
Loan: $5,000 $50,000
Loan: $5,000 $50,000
If you’re after an award winning personal loan, then look no further than the Police Bank Personal Loan. Aside from taking home a 2019 Mozo Experts Choice Award for Unsecured Personal Loan and Excellent Credit Unsecured Personal Loan with it’s discounted offer, Police Bank are also taking home the title of Personal Loan Provider of the Year!
Despite the name, the Police Bank Personal Loan is not just a loan built for those in blue, but for all borrowers on the hunt for a competitive rate. There are a couple of different rate options available with the Police Bank Personal Loan.
Discounted Fixed rate offer - this offer comes with a 5.79% variable rate (5.92% comparison rate*)
Fixed rate option - If you're after a fixed rate on your loan, Police Bank offer a 9.99% interest rate (10.13% comparison rate*)
Variable rate option - If you prefer the flexibility of a variable rate, Police Bank offer a 12.76% rate on this one (12.91% comparison rate*)
Apart from a pretty competitive rate, this loan also features free extra repayments and no monthly service or exit fees, even on the fixed rate options, helping you put every last dollar toward getting debt free.
As this loan is unsecured, you won’t have to provide any security, while being able to borrow up to $50,000. Plus there’s some flexibility with when you make your repayments, as you’ll have the choice of either weekly, fortnightly or monthly.
But there are a few things to keep in mind with this loan, like the $98 application and $10 late payment fee. You’ll also need to be sure that you won’t need to withdraw your extra repayments in the future, as there is no redraw available.
The Police Bank Personal Loan - either the variable rate or fixed rate option -is a great choice for borrowers who aren’t too fussed with a boat load of extras and are keen to pay off their loan fast.
The Police Bank Personal Loan does not come with a redraw facility, on either the variable or fixed rate option, so you’ll need to be sure you won’t need the cash again once it’s locked away. And if you are ever late with a payment, you will be charged a $10 late payment fee.
Variable
5.79% p.a.variable
5.92% p.a.based on $30,000
over 5 years
$98.00
$0.00
$10.00
$0.00
$0.00
$5,000.00
$50,000.00
1 Year
7 Years
Unsecured
Weekly, Fortnightly, Monthly
yes
yes
none
none
Fixed
9.99% p.a. fixed
10.13% p.a.based on $30,000
over 5 years
$98.00
$0.00
$10.00
$0.00
$0.00
$5,000.00
$50,000.00
1 Year
7 Years
Unsecured
Weekly, Fortnightly, Monthly
yes
no
none
none
Variable
12.76% p.a.variable
12.91% p.a.based on $30,000
over 5 years
$98.00
$0.00
$10.00
$0.00
$0.00
$5,000.00
$50,000.00
1 Year
7 Years
Unsecured
Weekly, Fortnightly, Monthly
yes
yes
none
none
Very low interset rate, very easy to apply and people very friendly and helpful. Bank opening hours and phone help hours are not very convenient but I'm willing to sacrifice in order for cheaper interest.
Read full reviewVery low interset rate, very easy to apply and people very friendly and helpful. Bank opening hours and phone help hours are not very convenient but I'm willing to sacrifice in order for cheaper interest.
Police Bank offers the most competitive interest rates on personal loans and they have no fees for early pay out.
Read full reviewPolice Bank offers the most competitive interest rates on personal loans and they have no fees for early pay out.
I have been paying off and topping up personal loans for 25+ years, paying them off then re-financing etc. I had a 100% perfect credit history for 25 years and this year I fell on hard times financially due to my daughters medical needs and I requested to reduce my repayments for the short term whilst I got through this time and they declined and made things really difficult for me, forcing me to go to court to get it while my daughter was in the hospital.
Read full reviewI have been paying off and topping up personal loans for 25+ years, paying them off then re-financing etc. I had a 100% perfect credit history for 25 years and this year I fell on hard times financially due to my daughters medical needs and I requested to reduce my repayments for the short term whilst I got through this time and they declined and made things really difficult for me, forcing me to go to court to get it while my daughter was in the hospital.
Police Bank has specially designed its financial products to offer financial solutions to the employees and families of the Police service. Police Bank offers a range of financial products and services in savings accounts, home, car and personal loans, term deposits, credit and debit cards and a range of insurance products, ensuring that its members financial needs are taken care of.
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7.45% p.a.to 16.95% p.a.
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$10.00