SWSbank Unsecured Personal Loan

UnsecuredVariable rate

An unsecured personal loan from SWSbank, with rates from 12.95% a year.

Monthly repayment

$20,000 over 3 years

What it would cost

At the lowest published rate of 12.95%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

BorrowOver

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

Comparison rate

12.95%

From 12.95%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$7,273

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

Most you can borrow

$30,000

Typically you can borrow up to $50,000.

Longest term

5 years

7 years is the usual longest term.

One rate for everyone. Everyone approved gets 12.95%, so the rate you see is the rate you get.
No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
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.

A higher starting rate. Its comparison rate starts at 12.95%, above the typical 10.56%, so it's likely to cost more than most similar loans unless you're offered less.
A lower limit. Up to $30,000, less than the typical $50,000, so it may not cover a larger purchase.
A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

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