P&N Bank Fixed Secured Personal Loan

SecuredFixed rate

If you are after a fixed rate personal loan with a choice of loan term that is secured by a motor vehicle, P&N have you covered.

Monthly repayment

$20,000 over 3 years

What it would cost

At the lowest published rate of 7.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

BorrowOver

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

Comparison rate

8.65%

From 8.65%. A typical loan starts at 8.63%.

Cost of $20,000 over 5 years

$4,346

Interest and fees at its starting rate. Typical is $4,624.

Setup fee

$20

A typical setup fee is $250.

Most you can borrow

$150,000

Typically you can borrow up to $100,000.

Longest term

7 years

7 years is the usual longest term.

One rate for everyone. Everyone approved gets 7.99%, so the rate you see is the rate you get.
A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
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.

Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
A $5 late payment fee. Setting up automatic repayments avoids it.

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