Finty
People First Bank

People First Bank Unsecured Personal Loan

UnsecuredFixed rate

Our Unsecured Personal Loan offers a fixed rate for the life of your loan, flexible repayments, competitive interest rates and the freedom of an unsecured loan option. You can use our personal loan for almost any purpose; from buying a car to refinancing an existing loan and debt consolidation.

Written byDavid Boyd
Interest rate a year, from
8.99%
Comparison rate, from
10.73%
Establishment fee
$250
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)
10.73%
Rate type
Fixed
Security
Unsecured

Limits and fees

Loan amount
From $2,000
Loan term
Up to 5 years
Establishment fee
$250
Monthly fee
Not published

How it compares

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

Comparison rate

10.73%

From 10.73%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$5,154

Interest and fees at its starting rate. Typical is $5,455.

Setup fee

$250

A typical setup fee is $213.

Longest term

5 years

7 years is the usual longest term.

Pros and cons

Pros

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

  • A $25 late payment fee. Setting up automatic repayments avoids it.

Similar loans

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