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Sydney Mutual Bank Standard Personal Loan

Advertiser disclosure
Interest rate from
7.99% p.a.
Comparison rate from
8.20% p.a.based on $30,000
over 5 years
Upfront fee
$150

Mozo editorial review Sydney Mutual Bank Standard Personal Loan - last updated: 12 November 2020

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What's hot
  • Low variable rates from 7.99% (8.20% comparison rate*)
  • Free extra repayments and redraws
  • 2021 Mozo Experts Choice Award winner
What's not
  • $150 application fee
Mozo snapshot
If you’re after a personal loan that’s small on costs and big on flexibility, the Sydney Mutual Bank Standard Personal Loan could offer you the best of both worlds. With this loan, rates start from a competitive 7.99% (8.20% comparison rate*) and you’ll also have a range of repayment options at your disposal, including free extra repayments and redraws. The Sydney Mutual Bank Standard Personal Loan even received an expert stamp of approval, snagging a 2021 Mozo Experts Choice Award for best Unsecured Personal Loan.
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Key features

Looking for extra cash to fund your next road trip or home renovation? The Sydney Mutual Bank Standard Personal Loan could be worth a look, with variable rates starting from 7.99% (8.20% comparison rate*) for loan amounts between $1,000 and $40,000. This loan is unsecured, meaning you won’t have to use any assets like your car as collateral.

Sydney Mutual Bank also offers heaps of flexible features, including the ability to make additional repayments and to dip back into those funds if you ever find yourself needing to. Borrowers also have the choice to coincide repayments with their pay cycle (weekly, fortnightly or monthly), and pick loan terms ranging from as short as 1 year all the way up to 7 years.

While there are no ongoing service fees, exit fees or early repayment penalties to worry about, you will need to budget for a $150 application fee. 


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Who is it good for

The Sydney Mutual Bank Standard Personal Loan could suit borrowers who want competitive interest rates without having to compromise on all the bells and whistles. 


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Any catches

Bear in mind that for any late or missed repayments, you’ll be hit with a $50 fee, so it’s a good idea to jot down the due dates or set up automatic payments via your bank account.


Details

Rates and fees information correct as at 17 September 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Variable

7.99% p.a.variable

8.20% p.a.based on $30,000
over 5 years

Fees

$150.00

$0.00

$50.00

$0.00

$0.00

Other financial bits

$1,000.00

$40,000.00

1 Year

7 Years

Unsecured

Features

Weekly, Fortnightly, Monthly

yes

yes

none

none

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.

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