Finty
Broken Hill Bank

Broken Hill Bank L41 Personal Loan

Variable rate

Sometimes The Budget Just Won't Stretch To Something You Really Want, Or Need To Pay For. We Offer Multiple Personal Loans For Countless Worthwhile Purposes, With Fast And Hassle-Free Approval.

Written byDavid Boyd
Interest rate a year, from
16.15%
Comparison rate, from
16.61%
Establishment fee
$230
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 16.15%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$705
Total repayments
$25,366
Interest
$5,366

Loan details

Rates

Interest rate (a year)
16.15%
Comparison rate (a year)
16.61%
Rate type
Variable
Security
Not published

Limits and fees

Loan amount
$5,000 to $40,000
Loan term
Not published
Establishment fee
$230
Monthly fee
Not published

How it compares

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

Comparison rate

16.61%

From 16.61%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$9,507

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

Setup fee

$230

A typical setup fee is $150.

Most you can borrow

$40,000

Typically you can borrow up to $60,000.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 16.15%, so the rate you see is the rate you get.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • 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 higher starting rate. Its comparison rate starts at 16.61%, above the typical 10.14%, so it's likely to cost more than most similar loans unless you're offered less.
  • 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.