Australian Military Bank Personal Loans | Interest Rates - BestFind
Important disclosure

Australian Military Bank Personal Loans

Australian Military Bank (formerly Australian Defence Credit Union/ADCU) is Australia’s longest serving financial institution serving the defence force. You no longer have to be part of the defence force to be customer, membership is open to Australian citizens. Members get to access the 3,000 ATMs on the RediATM network, 30+ branches Australia-wide and low-rate awarding winning products.

Australian Military Bank has two personal loan products, the Variable Rate Personal Loan and the Fixed Rate Personal Loan. The key features of Australian Military Bank’s Variable Rate Personal Loan include:

  • no early exit fees
  • a redraw facility
  • low interest rates, and
  • an option to borrow up to $80,000.

Negatives include the $10 monthly fee and the $150 application fee.

Australian Military Bank Personal loan approval time vary; some applications will be approved on instantly. If they require additional information, it may take up to 5 business days

Compare Australian Military Bank Personal Loans

If you’re looking for a great value personal loan, our Variable Rate Personal Loan gives you flexibility, a competitive interest rate and fast approval.

Overview

Minimum loan amount$1,000

Maximum loan amount$80,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)7.88%

Personal loan comparison rate8.72%

Monthly repayments (approx)$316

Total repayments (approx)$11,385

Total interest repayments (approx)$1,385

Rate typeVariable

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$100

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Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$550

Missed payment fee$0

For debt consolidation?Yes

Sponsored No

Telephone1300 13 23 28

Data accurate as of20/10/2017

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If you’re looking for a personal loan with set repayments, our Fixed Rate Personal Loan gives you the peace of mind in knowing what your repayments will be for the life of your loan.

Overview

Minimum loan amount$1,000

Maximum loan amount$50,000

Minimum term (years)1 Year

Maximum term (years)5 Years

Personal loan interest rates (base)7.93%

Personal loan comparison rate8.77%

Monthly repayments (approx)$316

Total repayments (approx)$11,393

Total interest repayments (approx)$1,393

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$100

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Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?Yes

Sponsored No

Telephone1300 13 23 28

Data accurate as of20/10/2017

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We provide a range of flexible personal loans designed to suit your needs.

Overview

Minimum loan amount$5,000

Maximum loan amount$40,000

Minimum term (years)2 years

Maximum term (years)7 Years

Personal loan interest rates (base)8.95%

Personal loan comparison rate10.56%

Monthly repayments (approx)$333

Total repayments (approx)$12,020

Total interest repayments (approx)$2,020

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee4%, maximum $495

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Other Fees & Information

Monthly fee$13

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$35

For debt consolidation?Yes

Sponsored Yes

Telephone1300 275 669

Data accurate as of26/10/2018

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Did you know you can compare 100’s of personal loans? Browse, filter and save on our main personal loans comparison page.

Loan purposes

You can borrow for almost any worthwhile purpose, and no, going to the casino is not a worthwhile purpose.

Examples of common loan purposes they will lend for:

Australian Military Bank personal loan approval time

If you’re an existing customer you may have applications approved and funded on the same day, other applications approval times vary between 48 hours and 5 working days.

Do you have an Australian Military Bank personal loans calculator?

Yes. View the Australian Military Bank Personal Loans calculator.

Australian Military Bank personal loan application

If you’d like to apply online, visit Australian Military Bank’s website by clicking here. Alternatively you can fill in their paper application, which can be downloaded here.

Eligibility criteria

Before you apply for a personal loan, be sure to understand and meet the lending criteria. Below is high-level overview of Australian Military Bank’s criteria:

Personal loan requirements

  • Minimum age of 18
  • Earn a regular income
  • An Australian citizen, permanent resident or have a valid visa
  • Have not declared bankruptcy or insolvency, or had defaults on any loans, credit cards, interest free finance or store cards in the last five years.

Information you’ll need to provide

Whether at the branch or online, make sure to have the following nearby:

  • Proof of income. A verifiable and steady employment. You may be required to provide copies of your most recent pay slips and employer’s contact information
  • A list of your assets, expenses and liabilities
  • Driver’s licence (if you have one) or other forms of ID

Other things to keeping mind when applying

  • It’s advantageous to have a good credit history. For example, you have no recent defaults and no frequent requests for credit
  • Credit cards with large credit limits are seen as liabilities, even if there’s nothing owing. If you have existing liabilities, be certain you can pay them off in addition to your Australian Military Bank personal loan

There are many additional factors AMB consider when accessing your application, but the above are the most important. If you feel like you may not meet their eligibility criteria, it may be best to save!

Australian Military Bank personal loan application status

If you have already applied, you can check your application status by calling 1300 13 23 28. Call between 8.00am to 9.00pm AEST, Monday to Friday or 9.00am – 12.00pm on Saturday.

Additional product information

Minimum and maximum loan amounts

You can borrow between $1,000 and $80,000.

Personal loan terms

Terms vary between 1 year and 7 years.

Repayment schedule

Australian Military Bank allow weekly, fortnightly or monthly repayment.

Redraw facility

The Variable Rate Personal Loan gives you the option to make redraw additional payments you may have made.

AMB mobile banking app

Other Australian Military Bank products

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