Defence Bank Personal Loan Rates & Fees, Review & Compare - Best Find

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Defence Bank Personal Loans

Personal Loan

We offer a choice of loan terms from 1 to 7 years – simply choose what you’re comfortable with and what suits your lifestyle. And with no early payout fees, having the things you want right now has never been easier.

Overview

Minimum loan amount$1,000

Maximum loan amount$100,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Advertised rate11.74%

Comparison rate12.70%

Monthly repayments (approx)$336

Total repayments (approx)$12,103

Total interest repayments (approx)$2,103

Rate typeVariable

Secured or unsecuredUnsecured

Security required No

Encumberance/REVVS check fee$50

Application / establishment fee$150

Other Fees & Information

Monthly fee$10

Quaterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$20

For debt consolidation?Yes

Sponsored No

Telephone1800 033 139

Data accurate as of5/04/2017

Comparison rate warning Comparison rate is based on a $30,000 secured loan over a 5 year term. Fees and Charges are payable. Terms and Conditions available on request. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees, other loan amounts or loans offered on an unsecured basis may result in a different comparison rate.

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Consolidation Loan

Consolidating your debts means replacing multiple debts – like credit cards, personal loans and store accounts – with just one loan, which can save you time, money and helps you manage your finances more effectively.

Overview

Minimum loan amount$1,000

Maximum loan amount$100,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Advertised rate13.99%

Comparison rate14.93%

Monthly repayments (approx)$347

Total repayments (approx)$12,499

Total interest repayments (approx)$2,499

Rate typeVariable

Secured or unsecuredUnsecured

Security required No

Encumberance/REVVS check fee$50

Application / establishment fee$150

Other Fees & Information

Monthly fee$10

Quaterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$20

For debt consolidation?Yes

Sponsored No

Telephone1800 033 139

Data accurate as of5/04/2017

Comparison rate warning Comparison rate is based on a $30,000 secured loan over a 5 year term. Fees and Charges are payable. Terms and Conditions available on request. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees, other loan amounts or loans offered on an unsecured basis may result in a different comparison rate.

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

Compare and review Defence Bank personal loan rates

Looking to make major purchase, go on a holiday or perhaps to consolidate your existing debts into one simple regular repayment? When comparing Defence Bank personal loans, there are other important things to consider and understand, other than just Defence Bank’s interest rates.

What personal loan options does Defence Bank offer?

Defence Bank has 2 personal loan products:

  • Defence Bank Personal Loan
  • Defence Bank Consolidation Loan

 

View the above table for detailed product information and a comparison of the interest rates, fees and features.

You can also review and compare Defence Bank car loans, Defence Bank home loan and Defence Bank credit cards.

Do you have a Defence Bank personal loans calculator?

Yes. Use the filter to adjust your loan amount and term to calculate your approximate monthly repayments. When you apply the filter, you will see a breakdown of your approximate monthly repayments as well as the total amount of interest and fees paid.

How to apply for a Defence Bank Personal Loan?

If you’d like to apply online for a Defence Bank personal loan, just scroll up and click on “Learn more” to be taken to Defence Bank’s secure online application form. Before you apply, be sure to learn about Defence Bank’s personal products, fees and eligibility criteria. Give yourself around 30 minutes to complete the application.

Defence Bank’s personal loan eligibility criteria

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

Defence Bank’s minimum requirements for a personal loan

  • Minimum age of 18
  • Earn a minimum of $15,000 per annum
  • An Australian citizen, permanent resident or have a valid visa

Information you’ll need to provide

Whether at the Defence Bank 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

Are you self-employed?

If you’re self-employed, you will also need to provide:

  • Financial statements for the last year
  • Your most recent personal/business tax return

Other things to keeping mind when applying with Defence Bank

  • 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 Defence Bank personal loan

There are many additional factors Defence Bank 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!

What can you use a Defence Bank personal loan for?

You can borrow for almost any worthwhile purpose. No, going to the casino and putting it all on black is not a worthwhile purpose.

Examples of common loan purpose Defence Bank will lend for:

 

Additional product information

Defence Bank’s minimum and maximum personal loan amounts and terms

You can borrow between $1,000 and $100,000. Over terms between 1 year and 7 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

Defence Bank’s repayment schedule

Defence Bank allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

Defence Bank allows you to make additional or early repayments. There are fees associated with completely repaying your loan off early.

Redraw facility

Defence Bank’s Variable Rate Personal Loan gives you the option of being able to make redraws.