A secured personal loan for any worthwhile purpose
Category: Personal Loans Last Updated June 7, 2024 Effective November 1, 2024
General Lending Rates
Rates listed below are for a FIXED P&I product. Additional Information
Interest Rate 8.49% PA
Comparison Rate 8.78%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 Features
RedrawAdditional Information: Redraw permitted on application
OtherAdditional Information: Loan terms up to 7 years
OtherAdditional Information: Additional repayments permitted without penalty
OtherAdditional Information: No early repayment fee
Digital Banking
Product Eligibility
Residency StatusAdditional Information: Australian Citizens or permanent residents or as otherwise approved
Min Age - 18. Additional Information: Borrower must be minimum age of 18 years old
Natural PersonAdditional Information: Borrower must be a natural person
OtherAdditional Information: Loan secured with either residential property or a Term Deposit with The Mutual Bank
Bank Fees and Charges
Agents Cost (Variable), Amount: 0.00. Additional Information: Not ascertainable, and payable to us or our solicitor or our or their agent
Cheque Issuing Fee (Event), Amount: 2.50. Additional Information: Payable to us when a payment is made from your loan account by way of Financial Institution (FI) Cheque
Consent Fee (Event), Amount: 200.00. Additional Information: Per consent. Payable to us when you ask us to consent to leasing, subdividing or any other dealing in relation to the security property
Default Administration Fee (Event), Amount: 50.00. Additional Information: Payable to us when the borrower (or security provider) has not performed an obligation on time including an obligation to pay money. This fee is payable monthly commencing one month after the obligation should have been performed and up to and including the month in which the obligation is performed. We debit this fees to tour loan account each month until the default is remedied.
Discharge Administration Fee (Event), Amount: 200.00. Additional Information: Payable to us each time we release a security
Dishonour Fee (Event), Amount: 9.00. Additional Information: Payable to us when a payment (such as as a direct debit, salary deduction or cheque) is dishonoured
Duplicate Fee (Event), Amount: 20.00. Additional Information: Per copied document. Payable to us when we provide a copy of a document
Duplicate Statement Fee (Event), Amount: 7.00. Additional Information: Per statement. Payable to us when we provide a copy of a statement
Information Fee (Variable), Amount: 0.00. Additional Information: $1.00 per minute ($20.00 minimum fee). The fee will be calulated on the actual time spent retrieving and providing the information requested.Payable to us to provide information and that information is provided in writing
Legal Fees (Variable), Amount: 0.00. Additional Information: Not ascertainable, payable to us on or before the settlement date and payable to us or our solicitor or our or their agent for preparing security documents
Legal Fees (additional) (Variable), Amount: 0.00. Additional Information: Not ascertainable, payable on or before the settlement data for addional Legal Fees for old, system Qualified or limited title security or for additional colateral security
Online Agency Fee (Variable), Amount: 0.00. Additional Information: Not ascertainable, these charges may vary depending on the type of enqury or transaction and payable to us whenever we are required to undertake stamping or electronic enquires or transcations on a security
Photocopying Fee (Event), Amount: 0.50. Additional Information: Per sheet. Payable to use when we provide a photocopy of any document
Production Fee (Event), Amount: 200.00. Additional Information: Per document per production. Payable to use if we produce a document to a land registry
Renegotiation Fee (Event), Amount: 300.00. Additional Information: Per renegotiation. Payable to us whenever we agree to renegotiate or vary conditions on your loan other than altering interest rate options
Security Substitution Fee (Event), Amount: 300.00. Additional Information: Per new security. Payable to us to substitute a new security for an existing one
Settlement Fee (Event), Amount: 150.00. Additional Information: Per settlement. Payable to us each time we or our solicitor attend settlement in connection with a security
Title Search Fee (Variable), Amount: 0.00. Additional Information: Not Ascertainable, payable to us to us or our solicitor or our or their agent on or before the settlement date
Valuation Fee (Event), Amount: 0.00. Additional Information: Valuation fees are available upon enquiry and payable in relation to each property to which a loan is secured
Limitations & Restrictions (Constraints)
Opening Balance of 5000.00 Additional Information: Minimum Loan Amount $5K
Max Balance of 100000.00 Additional Information: Maximum Loan Amount $100k