Bank Australia - New Car Loan
Secured | Fixed
The Bank Australia New Car Loan offers a Fixed rate, Secured loan. The New Car Loan has comparison interest rates from 8.16% p.a. and advertised interest rates from 7.95% p.a.. It also has a borrowing range from $1,000 with a loan repayment term of between 1 and 7 years.
More Bank Australia New Car Loan details can be found below or visit Bank Australia to learn more or apply.
The loan type will be Secured with a comparison rate of 8.16% p.a. and an advertised rate of 7.95% p.a.
Advertised Rate
7.95% p.a. Fixed
Comparison Rate
8.16% p.a.
Loan Term
1 to 7 years
Borrowing Range
$1,000 to $100,000
Interest
Rate Type
Fixed
Advertised Rate
7.95% p.a.
Fixed
Comparison Rate
8.16% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Vehicle
Loan Terms
Loan Term
1 to 7
years
Borrowing Range
$1,000 to $100,000
Repayment
Weekly, Fortnightly, Monthly
Features
Extra Repayments Allowed
Yes
Fees
Establishment Fee
$150
one off
Loan Service Fee
$0
per month
Early Repayment Fee
$0
per event
Late Payment Fee
$0
per event
Who is the product designed for?
The retail clients for whom this product has been designed are individuals who:
- are seeking a loan to:
- purchase a new or used vehicle up to 7 years of age
- purchase a new or used motorbike (road registered) up to 7 years of age
- refinance where original loan purpose was for purchase
- are aged 18 years or more and meet the credit assessment criteria for the product
- are able and willing to offer the vehicle as security for the loan, and security interest noted on the Personal Property Securities Register (PPSR)
- need the certainty of a fixed interest rate and fixed repayments for the term of the loan
- need the flexibility to make additional repayments
- want to take advantage of a lower rate for low emissions and electric vehicles
Visit Bank Australia to view Target Market Determination Effective From: 2023-11-23.
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