Finty
Regional Australia Bank

Regional Australia Bank Personal Loan

Variable rate

All-purpose Personal Loan for quick and easy funds when you need them.

Written byDavid Boyd
Interest rate a year, from
16.24%
Comparison rate, from
17.65%
Establishment fee
$195
Monthly fee
None
Borrow
From $500

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 16.24%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$706
Total repayments
$25,398
Interest
$5,398

Loan details

Rates

Interest rate (a year)
16.24%
Comparison rate (a year)
17.65%
Rate type
Variable
Security
Not published

Limits and fees

Loan amount
From $500
Loan term
Not published
Establishment fee
$195
Monthly fee
None

How it compares

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

Comparison rate

17.65%

From 17.65%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$9,530

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

Setup fee

$195

A typical setup fee is $150.

Monthly fee

None

A typical monthly fee is $8.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 16.24%, so the rate you see is the rate you get.
  • No monthly fee. The cost doesn't creep up the longer you take to repay.
  • 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 17.65%, 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.