Are you considering a new car? Or keen for a cash injection to pay for your wedding or an overseas trip? You may be looking to consolidate your debt or invest in home renovations, including environmentally-friendly household upgrades.

Whether you’re looking for a personal loan of $4,000, $10,000, $40,000 or $80,000, we’re answering a few common questions to help you find the right financial solution to reach your goals.

Should I get a Variable Rate or a Fixed Rate Personal Loan?

Fixed Rate loans have terms that are locked in for the life of your loan, so you can rest assured that your minimum repayments and interest rates won’t change. A fixed rate loan makes it easier to set financial goals and work towards them steadily while protecting yourself against future interest rate changes.

Variable Rate loans offer you greater flexibility with repayments, longer potential loan terms and optional redraw facility (redraw fees apply), however you should also keep in mind that your monthly repayments may increase as interest rates increase, and this can make it challenging to plan financially for the future.

How long will I have to pay off my Personal Loan?

The length of your Personal Loan defines the interest payable across the life of the loan and the amount of your monthly payments. The longer the loan, the lower your monthly repayments.

How can I plan to pay a Personal Loan off?

Want to better understand your borrowing power and ability to pay off your Personal Loan? It’s important to consider how you’re going to pay off your debt and the frequency of payments (weekly, fortnightly or monthly) across the life of the loan.

Try our various Australian Military Bank Calculators to help you understand your capacity to not only borrow but repay on time.

What type of Personal Loan do I need?

Australian Military Bank offers four types of personal loans to meet, with a range of benefits including the ability to make extra repayments or pay off your loan early without penalty. You can also make loan repayments straight from your salary.

Green Loan – this is an unsecured personal loan that you can use to finance the purchase of approved environmentally-friendly products, including energy, hot water, battery storage, insulation, energy-efficient cooling/heating, water capture and recycling, and 5-star rated (or higher) household appliances.

Car Loan – our Rate City 2022 Gold Medal award-winning Best New Car Loan offers a low fixed rate for cars, motorbikes, caravans and boats that are less than five years old.

Variable Rate Personal Loan – our Rate City 2022 Gold Medal award-winning Excellent Credit Loan. If you’re looking for a great value personal loan, our Variable Rate Personal Loan gives you flexibility, a competitive interest rate and fast approval.

Fixed Rate Personal Loan – our Rate City 2022 Gold Medal award-winning Excellent Credit Loan. If you’re looking for a personal loan with set repayments, our Fixed Rate Personal Loan gives you the peace of mind in knowing what your repayments will be for the life of your loan.

What are the interest rates and fees?

At Australian Military Bank, we're all about good value and making your money work for you.

Click through to get an Overview of Rates, Fees and the FAQs behind each of our Personal Loans, and compare our competitive interest rates to the rest of the market.

By seeking the answers to the above questions, you’ll put yourself in a much better position as you consider what you need for and from a Personal Loan.

We understand that choosing the right loan can be a big decision – we’re here to help! Drop into one of our branches, or speak to one of our Mobile Bankers at a time and place that suits you. Speak with us now.

Lending criteria, terms & conditions, fees & charges apply.

The information and tips provided are general in nature only and do not take into account your individual needs, objectives or financial situation. Consider seeking your own financial and legal advice. Before making a decision if a product is right for you, please read the relevant product information on our website, including Fees and Charges Schedule, Target Market Determination (TMD) and Financial Services Guide (FSG).