QBANK - Debt Consolidation Loan
Unsecured | Variable
The QBANK Debt Consolidation Loan offers an advertised interest rate from 13.24% p.a. and a comparison interest rate from 13.86% p.a.. This product has a loan service charge of $5 per month. The QBANK Debt Consolidation Loan is a Variable rate, Unsecured loan with a borrowing range from $1,000 and a loan repayment term of between 1 and 7 years.
More details about the QBANK Debt Consolidation Loan can be found below or visit QBANK to learn more or apply.
A comparison rate of 13.86% p.a. and an advertised rate of 13.24% p.a.. The loan type will be Unsecured.
Advertised Rate
13.24% p.a. Variable
Comparison Rate
13.86% p.a.
Loan Term
1 to 7 years
Borrowing Range
$1,000
Interest
Rate Type
Variable
Advertised Rate
13.24% p.a.
Variable
Comparison Rate
13.86% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Unsecured
Loan Terms
Loan Term
1 to 7
years
Borrowing Range
$1,000
Repayment
Fortnightly, Weekly, Monthly
Features
Redraw Available
Yes
Fees
Establishment Fee
$195
one off
Loan Service Fee
$5
per month
Early Repayment Fee
$0
per event
Who is the product designed for?
The objectives, needs, financial situation and eligibility criteria of customers in the target market are:
Objectives
- This product is suitable for those who are seeking a general personal loan or a debt consolidation loan for more than $1,000 and are seeking to repay the loan within 7 years.
Needs
- This product offers a variable interest rate and is suitable for those who are seeking low monthly fees and flexible repayments.
Financial Situation
- To assess whether this product is affordable to the Member, QBANK will make reasonable enquiries about the Member's financial situation in accordance with QBANK’s credit assessment criteria.
Eligibility Criteria
- Are 18 years of age or over.
- Pay As You Go (PAYG) income earners, guarantors and self-employed (sole traders or partnership).
- Permanent Australian residents or Australian citizens (residing in Australia or overseas) where the security provided is in Australia.
Visit QBANK to view Target Market Determination Effective From: 2024-02-14.
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