Finty
Alex.Bank

Alex.Bank Unsecured Fixed Rate Personal Loan

UnsecuredFixed rate

Alex gets you a multi-award winning personal loan with personalised interest rates based on your credit history and doesn't penalise you for making additional repayments or paying your loan out earlier,

Written byDavid Boyd
Interest rate a year, from
8.99%
Comparison rate, from
8.99%
Establishment fee
None
Monthly fee
Not published
Borrow
$2,100 to $50,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 8.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$636
Total repayments
$22,892
Interest
$2,892

Loan details

Rates

Interest rate (a year)
8.99%
Comparison rate (a year)
8.99%
Rate type
Fixed
Security
Unsecured

Limits and fees

Loan amount
$2,100 to $50,000
Loan term
Up to 7 years
Establishment fee
None
Monthly fee
Not published

How it compares

Against the other unsecured personal loans we compare. Typical means the middle half of them.

Comparison rate

8.99%

From 8.99%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$4,904

Interest and fees at its starting rate. Typical is $5,455.

Setup fee

None

A typical setup fee is $213.

Most you can borrow

$50,000

Typically you can borrow up to $50,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.99%, so the rate you see is the rate you get.
  • No setup fee. Nothing is added to the loan on day one, so you only pay interest on what you borrow.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.

Cons

  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.

Similar loans

Unsecured loans from other lenders that start at a similar comparison rate.