Finty
Australian Mutual Bank

Australian Mutual Bank Green Loan

Variable rate

The Green loan is available for the selected green products.

Written byDavid Boyd
Interest rate a year, from
7.10%
Comparison rate, from
7.10%
Establishment fee
Not published
Monthly fee
Not published
Borrow
$5,000 to $40,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 7.10%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$618
Total repayments
$22,264
Interest
$2,264

Loan details

Rates

Interest rate (a year)
7.10%
Comparison rate (a year)
7.10%
Rate type
Variable
Security
Not published

Limits and fees

Loan amount
$5,000 to $40,000
Loan term
Not published
Establishment fee
Not published
Monthly fee
Not published

How it compares

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

Comparison rate

7.10%

From 7.10%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$3,818

Interest and fees at its starting rate. Typical is $5,513.

Most you can borrow

$40,000

Typically you can borrow up to $60,000.

Pros and cons

Pros

  • A lower starting rate. Its comparison rate starts at 7.10%, below the typical 10.14%, and the comparison rate counts the standard fees too, so it's a fair guide to a lower overall cost.
  • One rate for everyone. Everyone approved gets 7.10%, so the rate you see is the rate you get.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Similar loans

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