Australian Mutual Bank Car Loan
- Application Fee
- $150
- Interest Rate (p.a.)
- 7.45% (variable)
- Comparison Rate (p.a.)
- 7.66%
- Max Loan Amount
- $100,000
Summary
Borrow up to 100% of the vehicle price with a loan from Australian Mutual Bank.
With a car loan from Australian Mutual Bank you can buy a new or used vehicle as long as it’s less than 5 years old. You can borrow up to 100% of the vehicle price or a maximum of $100,000.
Note: If you’re looking for a car loan from Sydney Mutual Bank, they are now under the Australian Mutual Bank name.
Pros
-
This loan comes with a free redraw facility
-
You can make extra repayments and pay the loan early
-
There are no ongoing fees
Cons
-
There’s an establishment fee of $150
Details
Australian Mutual Bank Car Loan
| Product Name | Australian Mutual Bank Car Loan |
| Interest Rate (p.a.) | 7.45% |
| Comp. Rate (p.a.) | 7.66% |
| Interest Rate Type | Variable |
| Min Loan Amount | $5,000 |
| Max Loan Amount | $100,000 |
What do I need to know about the Australian Mutual Bank car loan?
- Loan amount. You can borrow from $5,000 to $100,000.
- Loan term. The maximum length of the loan term is 7 years.
- Loan ratio. You can borrow up to 100% of the vehicle amount up to a maximum of $100,000.
- Vehicle type. You can use this loan to buy a car, boat, motorcycle or caravan, as long as it is less than 5 years old.
- No ongoing fees. There are no monthly or annual fees to hold this loan.
- Extra repayments. You can make extra repayments towards your loan.
- Free redraw. As long as you're at least 1 month ahead of your repayments, you can redraw from your extra repayments for free.
How much does an Australian Mutual Bank car loan cost?
- $150 establishment fee
- No ongoing fees
- No cost for redraw
How to apply for an Australian Mutual Bank car loan
You can apply online, over the phone or via a mobile banker in NSW.
To apply for a car loan you will typically need:
- Personal information (name, date of birth, address)
- Identity verification (passport, drivers licence)
- Bank statements
- Evidence of income
- Details of any assets (property, land, contents, savings, super)
- Other loan information
To be eligible for an Australian Mutual Bank loan you must:
- Be over 18 years old
- Have the capacity to be able to repay
Your reviews
Rebecca Finder
Senior writer
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