Secured Personal Loan
If you’re looking to buy a used car or other type of motor vehicle like a car, boat, caravan or motorcycle, the Secured Personal Loan is for you. It’s also a great option if you want to use an existing vehicle as security for financing other purposes, such as a holiday, household goods, sporting goods, or debt consolidation.
Features
- Benefit from a lower interest rate because the loan is secured by a vehicle (if you don’t have security, check out the Unsecured Personal Loan)
- Available for a range of purposes
- Terms up to 7 years
- Pre-approval available to give you more bargaining power
- No deposit required
- Make extra repayments with no early repayment fees
- Choice of weekly, fortnightly or monthly repayments
- Borrow from $1,000 to $50,000
| Product | Interest rate | Comparison rate |
|---|---|---|
|
Secured personal loan – new car up to 3 years old (Principal & Interest)
|
6.79.^^^
|
7.39.*
|
|
Secured vehicle loan (Principal & Interest)
|
9.75.^^^
|
10.68.*
|
|
Secured personal loan (Principal & Interest)
|
9.75.^^^
|
10.68.*
|
| Fee | Amount | |
|---|---|---|
|
Establishment fee
|
$120
|
|
|
Loan maintenance fee
|
$10
|
|
| Document fees may apply | ||
^^^Comparison Rate calculated on a secured loan of $30,000 over a 5 year term based on monthly repayments.*WARNING: These Comparison Rates apply 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.
Please be aware that variable interest rates may change at any time without agreement. All interest rates quoted are per annum. Fees and charges are payable. Normal lending criteria, terms and conditions apply and are available on request. Before acquiring this product, the information above should be read in conjunction with the following documents to determine if this product is right for you: Personal Loans, Fees and Charges, Credit Guide and Loan Interest Rate Schedule.
Interest Rate
