7.4

Finder Score

Great

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Interest Rate (p.a.): 12.74% to 22.74%
Comp. Rate (p.a.): 12.74% to 22.74%
Min Loan Amount: $2,100

Summary

Pay zero fees and get tailored interest rates. Interest charges apply.

3 things to consider about this loan:

Personalised interest rates. Your rate will be influenced by your credit history, financial circumstances and how much you want to borrow.
No fees. This loan does not charge monthly, establishment or early repayment fees.
Unsecured loan. You don’t have to provide an asset as security for this loan.

Pros

No early payout penalty fee
No extra repayment fee
100% online application
Application fee of $0

Cons

Maximum borrow amount limited to $30,000

Details

Product details

Product Name	Alex Bank Personal Loan
Interest Rate (p.a.)	12.74% to 22.74%
Comp. Rate (p.a.)	12.74% to 22.74%
Interest Rate Type	Fixed
Min Loan Amount	$2,100
Max. Loan Amount	$30,000
Loan Security	Unsecured

How does the Alex Bank Personal Loan work?

Alex Bank is a neobank lender offering a 100% digital personal loan. Your interest rate will be personalised based on a number of factors. These include your credit history, financial history and borrowing amounts. With personalised rates, borrowers with a good credit history are likely to get lower rates. If your credit score isn’t perfect, your interest rate will be higher.

Eligibility criteria

To be eligible for this loan, you must:

Be over the age of 18
Be an Australian citizen or permanent resident
Be receiving regular income
Not have been bankrupt

How to apply

You can apply for this loan online, by clicking the "Go to Site" button on this page or through the Alex Bank website. You will need to provide an Australian passport or driver's licence and your Internet banking details. Keeping your documents at hand can help speed up the process.

Features of this loan

Personalised rates. Rates for Alex Bank loans are personalised, meaning that the higher your credit score, the lower your rate and vice versa.
Fixed rate. Your interest charges will remain fixed for the duration of the loan, making it easier to budget for.
Unsecured loan. You don't need to provide an asset to secure this loan.
Rate estimate. Receive a rate estimate online based on your loan amount, desired loan term and credit score before you apply.
Borrow up to $2,100. Funding amounts vary from $2,100 to $30,000.
Terms up to 5 years. Terms range from 6 months to 5 years.
Quick application. The application takes 5 minutes to complete and is entirely online.
Flexible repayments. Repay your loan weekly, fortnightly or monthly, depending on your preferences.
No fees. This loan does not come with any fees.

How much does the Alex Bank Personal Loan cost?

You will be charged interest ranging from 12.74% p.a. to 22.74% p.a.

No other fees apply for this loan.

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