The Mutual Bank Unsecured Personal Loan

UnsecuredFixed rate

An unsecured personal loan for any worthwhile purpose.

Monthly repayment

$20,000 over 3 years

What it would cost

At the lowest published rate of 12.49%. 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

12.79%

From 12.79%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$7,191

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

Setup fee

$200

A typical setup fee is $213.

Most you can borrow

$50,000

Typically you can borrow up to $50,000.

Longest term

7 years

7 years is the usual longest term.

One rate for everyone. Everyone approved gets 12.49%, 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.
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.

A higher starting rate. Its comparison rate starts at 12.79%, above the typical 10.56%, so it's likely to cost more than most similar loans unless you're offered less.

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