Bankwest - Secured Car Loan
Secured | Fixed
The Bankwest Secured Car Loan offers an advertised interest rate from 8.99% p.a. and a comparison interest rate from 9.33% p.a.. The Bankwest Secured Car Loan is a Fixed rate, Secured loan with a borrowing range of between $10,000 and $100,000 and a loan repayment term of between 3 and 7 years.
More Bankwest Secured Car Loan details can be found below or visit Bankwest to learn more or apply.
An advertised rate of 8.99% p.a. and comparison rate of 9.33% p.a. The loan type will be Secured.
Advertised Rate
8.99% p.a. Fixed
Comparison Rate
9.33% p.a.
Loan Term
3 to 7 years
Borrowing Range
$10,000 to $100,000
Interest
Rate Type
Fixed
Advertised Rate
8.99% p.a.
Fixed
Comparison Rate
9.33% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Cars or motorcycles that are less than seven years old or cars or motorcycles that are valued at least $10,000.
Loan Terms
Loan Term
3 to 7
years
Borrowing Range
$10,000 to $100,000
Repayment
Monthly, Fortnightly, Weekly
Features
Extra Repayments Allowed
Yes
Redraw Available
Yes
Fees
Establishment Fee
$0
one off
Loan Service Fee
$5
per month
Early Repayment Fee
$250
per event
Who is the product designed for?
The objectives, needs and financial situation of customers in the target market are:
Objectives and Needs
- Require a loan for personal purposes including, but not limited to:
- Purchase of a vehicle (e.g. car, motorcycle, motorhome) or
- Debt consolidation
- Require a loan for a fixed amount and term.
- Require certainty of a fixed interest rate and repayments.
- Require an interest rate that is usually lower when compared to Bankwest’s Unsecured Basic Personal Loan.
- The ability to make additional repayments.
- Access to redraw surplus funds.
Financial Situation
- Meet Bankwest’s credit assessment criteria which includes demonstrating the capacity to make the required repayments without substantial hardship.
- Can service a loan amount typically between $10,000 and $100,000.
Visit Bankwest to view Target Market Determination Effective From: 2024-06-27.
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