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Variable Rate Personal Loan

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SERVICE ONE Alliance Bank's Variable Rate Personal Loan offers a competitive interest rate and is available for any worthwhile purpose, whether you are renovating your home, going on a holiday or just want to refinance your personal debt. The variable interest rate offers you considerable flexibility as you can make extra repayments to pay off your loan sooner. This loan can be secured or unsecured.

  Secured Unsecured
Interest rate

9.99% p.a. (interest rate). 10.54% p.a. (comparison rate)^ 

View all interest rates.


Loan must be secured by:

  • a registered motor vehicle (car, motor bike, motor home or truck, or caravan for instance) - up to 10 years old from the date of manufacture
  • a SERVICE ONE Alliance Bank term deposit equal to or more than the total loan, or
  • a residential mortgage.
No security required.
Maximum amount You can borrow up to $75,000. You can borrow up to $50,000.
Loan period Up to 7 years. Up to 7 years.
Flexible repayments Monthly repayments, or your choice of fortnightly or weekly - helping you reduce the term of the loan, saving you money.
Variable and lump sum payments Pay off your loan sooner by making variable and lump sum repayments**.
Redraw facility Extra repayments can be made against your loan at any time, reducing the principal outstanding and consequently reducing the interest charged against the loan. You can withdraw part or all of these extra repayments.
Auto repayments (salary/account) Yes, easy and convenient repayments to avoid late fees.
Loan Repayment Insurance This insurance helps you cover your loan repayments should the unexpected occur.

In addition:

  • Conditional approval can be granted quickly upon receipt of your completed application.
  • You will take advantage of discounts on your everyday banking.*

^Comparison rate calculated on an unsecured loan amount of $30,000 over a 5 year term and based on monthly repayments.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

*Discounts on everyday banking will depend upon your average relationship balance (including loan balances). View the Schedule of Fees and Charges for more information.

**Early repayment fees may apply.

Terms and conditions apply and fees and charges are payable. Lending criteria apply. Full details available on application. Security may be required for certain applications and will be determined at the point of assessment. Some loan services may require a separate application and are subject to assessment.

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