Finty
Police Bank

Police Bank Personal Loan

Fixed or Variable rate

Borrow for any worthwhile purpose from the latest in big ticket electronics, white goods and household items to holidays, cars, boats and bikes. You can also refinance or consolidate your loans from other lenders.

Written byDavid Boyd
Interest rate a year, from
9.99%
Comparison rate, from
10.13%
Establishment fee
None
Monthly fee
Not published
Borrow
From $5,000

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 9.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$645
Total repayments
$23,229
Interest
$3,229

Loan details

Rates

Interest rate (a year)
9.99%–12.99%
Comparison rate (a year)
10.13%–13.14%
Rate type
Fixed or Variable
Security
Not published

Limits and fees

Loan amount
From $5,000
Loan term
Up to 7 years
Establishment fee
None
Monthly fee
Not published

How it compares

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

Comparison rate

10.13%

From 10.13%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$5,491

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

Setup fee

None

A typical setup fee is $150.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • No setup fee. Nothing is added to the loan on day one, so you only pay interest on what you borrow.
  • 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

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 9.99% to 12.99%, and only some people get the starting rate.
  • A $10 late payment fee. Setting up automatic repayments avoids it.

Similar loans

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