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Minimum and maximum loan periods vary between 6 months and 10 years. Comparison
interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between
$1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan
of $10,000 for a term of 3 years. WARNING: This comparison rate is true only for the
examples given and may not include all fees and charges. Different terms, fees or other loan
amounts might result in a different comparison rate. These rates can change without further
notice. All rates quoted are per annum. For more information regarding fees click on "View
fees & additional info +" for each product or contact the provider.
What type of loan are you looking for?
Beyond Bank personal loans – Pump cash into your dreams
If you’re looking for a legit alternative to the big banks, Beyond Bank Australia is one of the top contenders. It has been customer-owned since 2013 and a successful credit union before that.
Like all mutual financial institutions, Beyond Bank reinvests its profits back into the business to benefit customers instead of shareholders. The Victoria-based bank has been going strong as part of its community for nearly 60 years, and it’s the first Australian bank to become a Certified B corporation.
In terms of personal loans, Beyond Bank Australia tips the scale with a suite of products designed to meet all manner of needs. Learn more about Beyond Bank personal loans and use the info to decide which available options suit you.
Beyond Bank personal loan snapshot
- Loan amounts – $5,000 – $80,000
- Loan terms – Up to 7 years
- Interest rate – Depends on the product
- Interest rate type – Fixed rate or variable rate
- Security – Secured and unsecured
- Pros – Beyond Bank accepts joint applications and applications from Visa holders. Additionally, once you receive the funds, you automatically become a member and part-owner of the bank.
- Cons – Most options come with an establishment fee as well as other fees that increase your finance costs.
Types of personal loans offered by Beyond Bank
Beyond Bank’s range of personal loans includes the following:
- Low rate personal loan. This is a secured loan that comes with a competitive fixed rate.
- Flexi personal loan. You can choose a fixed or variable rate and a minimum amount of $5,000 without offering security.
- No fee personal loan. With this option, there’s zero mention of fees attached to your loan. You also get a competitive fixed rate since the funds are secured. However, you have to borrow a minimum amount of $10,000, and the rate you get is higher than the low rate personal loan option.
Please note that each of the three products above also has an Environmental and a “Pinnacle Plus” option available at a discounted rate. For instance, under low rate personal loans, you’ll find an environmental low rate loan and a pinnacle plus low rate loan. In the same way, you can apply for the environmental and pinnacle plus versions of the “Flexi” and “No Fee” loans.
Environmental options are available only if more than 50% of the funds are for an approved environmental purpose. The pinnacle plus option is available to members who are eligible for certain benefits.
Beyond Bank personal loan features
- Monthly, fortnightly or weekly repayment options are available. Use our Beyond Bank personal loan calculator to find an affordable repayment estimate before applying.
- You can get pre-approval if you want to shop around for your purchase with more confidence.
- Unlimited, fee-free additional repayments are available, so you can pay off your debt early without penalty.
- The redraw facility enables you to withdraw any extra repayments you’ve made.
- You’ll have easy access to your money any time via Internet, Telephone, or Mobile Banking services.
What else does Beyond Bank offer?
You can also apply for a line of credit that keeps you prepared for emergencies and unexpected expenses. You’ll be able to access funds whenever you need to, without reapplying. The product comes with a variable rate and a minimum amount of $2,000.
To find out more about Beyond Bank car loans products, check out our Beyond Bank car loan guide.
Fees and charges
The following fees may apply, depending on the product type:
- Establishment fee/Variation fee – $175
- Security documentation fee – $25
- PPSR search fee – $17.50
- PPSR registration fee – $17.50
- Monthly admin fee – $5
To be eligible for any Beyond Bank personal loan, you must:
- Be at least 18 years old
- Be an Australian citizen or permanent resident
- Have a good credit history
- Not have any unpaid defaults or been declared bankrupt
- Agree to a credit check
- Have a regular income of more than $2,000 per month
How to apply for a Beyond Bank personal loan
Before you sign up with Beyond Bank, make sure you have the following things lined up:
- Details of your income and employment
- Driver’s licence number
- Details of your assets and liabilities
When you’re ready, scroll up and click the “Go to Site” button of your choice to follow through to the lender’s website. Applying for a Beyond Bank personal loan online generally takes 15 minutes or 20 minutes (if it’s a joint application). Once you submit your details, a lending specialist will be in touch.
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