The Mutual Bank - Secured Personal Loan
Secured | Fixed
The The Mutual Bank Secured Personal Loan offers an advertised interest rate from 8.49% p.a. and a comparison interest rate from 8.78% p.a.. The The Mutual Bank Secured Personal Loan is a Fixed rate, Secured loan with a borrowing range of between $5,000 and $100,000 and a loan repayment term of between 1 and 7 years.
More The Mutual Bank Secured Personal Loan details can be found below or visit The Mutual Bank to learn more or apply.
A Secured loan with an advertised rate from 8.49% p.a. and comparison rate from 8.78% p.a.
Advertised Rate
8.49% p.a. Fixed
Comparison Rate
8.78% p.a.
Loan Term
1 to 7 years
Borrowing Range
$5,000 to $100,000
Interest
Rate Type
Fixed
Advertised Rate
8.49% p.a.
Fixed
Comparison Rate
8.78% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Residential property or a term deposit with The Mutual Bank.
Loan Terms
Loan Term
1 to 7
years
Borrowing Range
$5,000 to $100,000
Repayment
Fortnightly, Weekly, Monthly
Fees
Establishment Fee
$200
one off
Loan Service Fee
$0
per month
Early Repayment Fee
$0
per event
Who is the product designed for?
The target market for this product consists of customers who are likely to have the following objectives, needs, and financial situations:
Objectives and Needs:
- Customers want to borrow money for any personal worthwhile purpose
- A personal loan that offers Principal & Interest repayments
- A personal loan that allows unlimited extra repayments without costs
- A personal loan that allows access to redraw repayments made in advance
- A personal loan with no ongoing personal loan fees
Financial Situation:
- The financial situation of the target market are customers that have the ability to repay the personal loan without substantial hardship which is demonstrated by meeting The Mutual Bank’s credit assessment criteria
- The Mutual Bank believes that if a customer meets its credit assessment criteria it is likely that the product will be consistent with the financial situation of the target market.
Visit The Mutual Bank to view Target Market Determination Effective From: 2024-08-07.
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