8.7 / 10

based on 309 Police Bank reviews as rated by Mozo community

Police Bank personal loans

Thinking of getting a new personal loan? Police Bank has a range of loans available for every purpose from travel, cars, boats, big ticket electronic items to ‘green’ initiatives. And despite its name, Police Bank loans are available to anyone, not just people in the police service. 

Police Bank is also an award-winning lender. It took home a 2021 Mozo Experts Choice Award for Best Unsecured Personal Loan. You can review a summary of the loan options available here or if you’d like to compare Police Bank with other lenders in our database, head over to our personal loans comparison tool.

Police Bank offers the following personal loans

Rates and fees verified as correct at 16 April, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Driveaway Car Loan (Fixed, Secured)

7.19% p.a.

7.33% p.a.based on $30,000
over 5 years

$98

Green Loan (Fixed, Secured)

5.79% p.a.

5.92% p.a.based on $30,000
over 5 years

$98

Green Loan (Fixed, Unsecured)

5.79% p.a.

5.92% p.a.based on $30,000
over 5 years

$98

Personal Loan (Fixed, Unsecured)

9.99% p.a.

10.13% p.a.based on $30,000
over 5 years

$98

Personal Loan (Variable, Unsecured)

12.76% p.a.

12.91% p.a.based on $30,000
over 5 years

$98

Personal Loan Special (Variable, Unsecured)

5.79% p.a.

5.92% p.a.based on $30,000
over 5 years

$98

What personal loans does Police Bank offer? 

Unsecured Personal Loan 

Police Bank’s unsecured personal loan comes with the option of either a fixed or variable rate. Borrowing amounts go up to $50,000 and loan terms range from 1 to 7 years. 

With a fixed interest rate loan, your repayments will be fixed for the duration of the loan so every month you’ll know exactly how much your repayment will be. Police Bank cannot change the rate on you. Knowing how much you have to pay back each month, makes it easier to manage your expenses and household budget.

If you opt for the variable rate option, interest rates are lower but may also change during your loan term. So if rates go up you will have to pay extra. 

The good news is that borrowers can make extra repayments on top of their regular weekly, fortnightly or monthly regular payments. Plus there is no early repayment fee if you pay down your entire debt ahead of time. Just remember, there is an application cost straight off the bat. 

This loan won a 2021 Mozo Experts Choice Award for best Unsecured Personal Loan.  

Car Loan 

There is also a secured car loan option that comes with a fixed interest rate. Customers can borrow up to $120,000 on this loan and pay it back between 1 and 7 years. 

Like the personal loan mentioned above, there is the choice for borrowers to make weekly, fortnightly or monthly repayments as well as the option to make extra repayments too. There are also no break costs or monthly service fees to worry about either. You will have to budget for an upfront application cost though when you first sign up for the loan. 

Green Loan 

Police Bank is encouraging its members to be more environmentally conscious by rewarding customers who make green purchases with lower interest rates than their standard loans.

Police Bank have a range of items, including things like solar roof panels, rainwater tanks, energy / water efficient white goods and home battery systems.

Police Bank personal loans at a glance 

How do you apply for a Police Bank personal loan? 

You can apply online for a personal loan with Police Bank, and the lender says that it should only take 10 to 15 minutes to do so. 

To be eligible for a Police Bank personal loan you need to satisfy the following criteria: 

You’ll also need these document handy: 

How are Police Bank personal loans rated?

Mozo users have rated Police 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
Police Bank personal loans
Overall
8.3/10
Price
Features
Customer service
Convenience
Trust

25 Reviews

Recent Police Bank personal loan reviews

Police Bank Personal Loan (Fixed) review
Overall 7/10
Very good

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 review

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.

Price
8/10
Features
7/10
Customer service
8/10
Convenience
4/10
Trust
10/10
Less
Keira, New South Wales, reviewed 12 months ago
Police Bank Debt Consolidation Loan review
Overall 10/10
Great.

Great company.

Read full review

Great company.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
7/10
Trust
10/10
Less
Sue, Australian Capital Territory, reviewed about 1 year ago
Police Bank Personal Loan (Fixed) review
Overall 10/10
Very competitive interest rates.

Police Bank offers the most competitive interest rates on personal loans and they have no fees for early pay out.

Read full review

Police Bank offers the most competitive interest rates on personal loans and they have no fees for early pay out.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Steve, New South Wales, reviewed over 1 year ago
Police Bank Personal Loan (Fixed) review
Overall 3/10
Competitive interest rates. Bad customer service.

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 review

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.

Price
10/10
Features
3/10
Customer service
3/10
Convenience
1/10
Trust
3/10
Less
Kerrie, New South Wales, reviewed over 1 year ago

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