Customer service was great when I needed to contact them about an issue I had with payment. Interest rates being variable are a bit high, but that's the way the loan is. Could shop around for lower rates at another bank. It's Commonwealth, so being a big bank you can trust them.
Much better interest rates can be found. The process is long and frustrating. Trying to contact the branch directly resulted in about a dozen calls going through to the answering machine and none being returned.
Fast easy personal loan possess. Can sign up online which is a plus. Rewards with travel insurance which has come in handy! Cons are if your young and don't really know how a loan works you have to do a lot of digging rather then the information being there! E.g. what happens if you miss a payment, monthly fees etc
Overall I have a neutral liking of this bank. Its one of the big banks and for some reason have confidence that they will do the right thing. There are however smaller banks/institutions that offer more competitive rates and fees.
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Personal loan comparisons on Mozo - rates updated daily
Low Rate Personal Loan
8.21% p.a.based on $30,000 over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.00% would cost $36,647.51 including fees.
*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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