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Why choose a Car Loan?

Offer your new or existing car as security and borrow up to $80,000 at a lower interest rate

Fixed interest rate
from 7.49% p.a. (8.60% p.a. comparison rate)^
Variable interest rate
from 12.74% p.a. (13.81% comparison rate)^

For you to spend how you like

Car Loan interest rates

Fixed rate

  • 1-5 years flexible loan term
  • 7.49% p.a. fixed interest rate
  • 8.60% p.a. comparison rate^
  • Set repayments for simpler budgeting

Variable rate

  • 1-7 years flexible loan term  
  • 12.74% p.a. variable interest rate  
  • 13.81% p.a. comparison rate^ 
  • Pay your loan off earlier with fewer fees

Is your car eligible as security?

The car you offer as security for the loan must be:

Registered in the applicant’s name once purchased.
A four-wheel vehicle that has never been extensively damaged or written off.
12 years old or less at the end of the loan term to qualify for a lower interest rate.
Covered for one year’s full comprehensive car insurance when you access the funds.

You also get…

Preferred repayment frequency

Choose to make weekly, fortnightly or monthly repayments.

Redraw facility on variable rate loans

Redraw a minimum of $500 from your loan amount if you need to, provided you’re at least $500 ahead on your repayments. Each request is subject to approval and a fee.

Internet banking access

Manage your loan and track repayments online or through your mobile banking app.

Key Fees

  • $195 Establishment fee (added to your loan amount). Excludes all government charges such as stamp duty, search fees, fees to register security interest with the Personal Property Securities Register
  • $12 Monthly administration fee
  • $10 Per redraw on variable loans
  • $150 Early repayment fee if you fully repay the loan within the first 12 months
  • $100 Early repayment fee if you fully repay the loan after the first 12 months and before the end of the loan term
  • Break costs If you choose to repay your fixed rate loan early in full or prepay at least $5,000 in any 12 month period or if your fixed rate loan is in default - break costs may apply. These costs are equal to the reasonable estimate of our loss for breaking a fixed loan term. Please refer to the Personal Loan Terms and Conditions for more details. 

The Detail

Before making a decision, please read these documents to ensure you’re aware of all fees, charges and interest rates.
Terms and conditions
General details of our personal loan products
Fees and charges
All costs for specific personal loan services and accounts

How to apply for a loan

Apply online in 10 minutes – 5 minutes for existing customers – depending on your internet connection.
We’ll then review your application and may ask you for more details to verify your income and learn about the car you’re offering as security.
When you’re ready, provide us with information about your car and we’ll review it to make sure the vehicle is suitable for your secured loan.
Once your application has been approved, visit a branch with proof of comprehensive insurance to review and accept the contract. We’ll then credit the funds into your account or give you a cheque payable to the car seller.

Important information

Credit criteria, fees, charges, terms and conditions apply.

The advice on our website is prepared without knowing your personal objectives, financial situation or needs. Before you act on this or any advice, please consider if it's right for you. Read the above product disclosure documents as well as the Internet and Phone Banking Terms and Conditions (PDF 265KB) before making a decision and consider whether the product is appropriate for you. If you need help, call 13 13 76.

The interest rate may vary based on the value of the car you offer as security.

Secured Personal Loan Repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on a secured loan of $30,000 borrowed for 5 years:

  • with the minimum interest rate of 7.49% p.a. (comparison rate 8.60% p.a.), the estimated total amount payable including fees is $37,014
  • with the maximum interest rate of 12.74% p.a. (comparison rate 13.81% p.a.), the estimated total amount payable including fees is $41,701.

^ Comparison rates help you understand the true cost of a loan. The comparison rate is based on a Secured Personal Loan with a loan amount of $30,000 and a term of 5 years. 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.