Finty
Bank First

Bank First Personal Loan Personal Lending 1-5 Years Fixed Unsecured

UnsecuredFixed rate

An unsecured personal loan from Bank First, with rates from 9.64% a year.

Written byDavid Boyd
Interest rate a year, from
9.64%
Comparison rate, from
11.00%
Establishment fee
None
Monthly fee
Not published
Borrow
From $5,000

Monthly repayment

$20,000 over 1 year

Apply now

What it would cost

At the lowest published rate of 9.64%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$1,755
Total repayments
$21,060
Interest
$1,060

Loan details

Rates

Interest rate (a year)
9.64%
Comparison rate (a year)
11.00%
Rate type
Fixed
Security
Unsecured

Limits and fees

Loan amount
From $5,000
Loan term
Up to 1 year
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

11.00%

From 11.00%. A typical loan starts at 10.56%.

Setup fee

None

A typical setup fee is $213.

Longest term

1 year

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 9.64%, 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.
  • 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

Nothing stands out.

Similar loans

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