A Personal Loan designed for customers to enjoy something they want or need now, if they currently don't have the savings or cash to make the purchase.
Category: Personal Loans Last Updated August 16, 2024 Effective November 1, 2024
General Lending Rates
Rates listed below are for a FIXED P&I product. Additional Information The displayed fixed rate of 11.30% p.a. applies to secured personal loans. The Comparison Rate is based on a loan amount of $30,000 and is calculated over a term of 5 years based on monthly repayments. Different amounts and terms will result in different Comparison Rates.
Interest Rate 11.30% PA
Comparison Rate 12.32%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
, FIXED, 14.00%
Lending Rate Type: Fixed
Interest Rate: 14.00%, Comparison Rate 14.99%
Repayment Type: Principal And Interest
Loan Purpose:
, VARIABLE, 17.15%
Lending Rate Type: Variable
Interest Rate: 17.15%, Comparison Rate 18.11%
Repayment Type: Principal And Interest
Loan Purpose:
, FIXED, 11.30%
Lending Rate Type: Fixed
Interest Rate: 11.30%, Comparison Rate 12.32%
Repayment Type: Principal And Interest
Loan Purpose:
Product Features
OtherAdditional Information: • Fixed and variable interest rates available. Fixed rates offer the security of always knowing how much your repayments will be in advance, which makes it easy to manage your finances.
• Loans available for a range of amounts and terms.
• Flexible repayment options - weekly, fortnightly, or monthly.
• Easy repayment methods including via internet banking, and direct debit from your Arab Bank Australia account.
• Secured and unsecured options. Security can be a car, boat or a guarantee.
• Ability to make extra repayments on a variable rate personal loan without any penalties.
• Regular statements available.
OtherAdditional Information: Secured and unsecured options
Digital Banking
Product Eligibility
Min Age - 18.
OtherAdditional Information: The following is subject to the Bank’s lending criteria:
• New and existing customers.
• Individuals who are 18 years of age or over.
• Available only for private or domestic use and cannot be used for business purposes.
• Successful completion of applicable Arab Bank Australia Limited (ABAL) identification check requirements.
Bank Fees and Charges
Application Fee (Upfront), Amount: 600.00.
Transfer Fee (Event), Amount: 300.00. Additional Information: Payable if the Customer asks the Bank to change the security property by releasing its security over some or all of the security property and taking security over different property, without any other amendments to the agreement. It does not include any solicitor costs or fees payable to a government registry to register a document.
Arrears Letter Fee (Event), Amount: 35.00.
Search Fee (Transaction), Amount: 70.00. Additional Information: Per hour or part thereof - payable whenever the Customer (or a Guarantor) requests a copy of a document (other than a statement) connected to the Facility. It is calculated on the basis of the time that it takes the Bank’s staff to search for the document.
Direct Debit Dishonour Fee (Event), Amount: 35.00. Additional Information: Payable whenever a direct debit to the Customer’s loan account is dishonoured.
Tenanted Security Report Fee (Event), Amount: 100.00. Additional Information: Per hour or part thereof - payable when the security property is to be the place of residence of the Customer and the Bank ascertains by inspection (because the Customer did not tell the Bank) that the Customer no longer occupies the security property. It is calculated on the basis of the time that it takes the Bank’s staff or agents to inspect the security property.
Deed Production Fee (Event), Amount: 60.00. Additional Information: Payable by the Customer whenever the Bank is required to produce a document to a government registry. It does not include any solicitor costs or fees payable to a government registry to register a document
Additional Security Consent Fee (Event), Amount: 150.00. Additional Information: Payable whenever the Customer asks the Bank to consent to a security interest over the security property or any other property subject to the security. It is payable whether or not the Bank consents to the security interest
Discharge Of Security Fee (Exit), Amount: 250.00. Additional Information: Payable if the Bank agrees to discharge a security. The Bank may use some or all of this fee to pay its external costs. It does not include any solicitor costs or fees payable to a government registry to register a release of the security
Title Change Fee (Event), Amount: 100.00. Additional Information: Payable if the Customer asks the Bank to change the title to any security property (for example as a result of a court order or by operation of law). It does not include any solicitor costs or fees payable to a government registry to register a document.