Finty

First Option Bank Begreen Loan

Variable rate

BEGREEN LOAN - Borrowers without a First Option Mortgage

Written byDavid Boyd
Interest rate a year, from
8.99%
Comparison rate, from
8.24%
Establishment fee
$175
Monthly fee
Not published
Borrow
From $2,000

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)
8.24%
Rate type
Variable
Security
Not published

Limits and fees

Loan amount
From $2,000
Loan term
Not published
Establishment fee
$175
Monthly fee
Not published

How it compares

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

Comparison rate

8.24%

From 8.24%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$5,079

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

Setup fee

$175

A typical setup fee is $150.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.99%, 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.