Auswide Bank unsecured personal loans are available for financing various expenses, including weddings, holiday trips, and debt consolidation.

The bank's personal loans can also be used for the purchase of a variety of vehicles, including motorbikes, caravans, boats, and privately bought cars (for cars purchased from a licenced dealer, go to Auswide Bank car loans).

Personal Loans Available at Auswide Bank

Borrowers can take out personal loans starting at $3,000 up to $50,000 with fixed interest rates. Loan repayment terms range from 1 to 5 years.

As the loans are unsecured - meaning no asset is used as collateral to back-up the loan - expect interest rates to be high.

Auswide Bank allows customers to make additional repayments to pay off their loans earlier, though an early settlement fee may apply.

A redraw facility enables borrowers to redraw their advance personal loan balance. However, the availability of this feature is subject to each loan's terms and conditions.

Home Renovation Loan

Borrowers funding home repairs or small- to mid-size renovation projects may apply for a specialised personal loan with Auswide Bank.

What can it be used for:

• Kitchen or bathroom renovation

• Building a deck or patio

• Construction of a carport or driveway

• House repainting

• Professional landscaping

• Installation of in-ground pool

• Eco-friendly home improvements (solar panels, rainwater storage tanks, LED lighting, etc.)

The Home Renovation Loan is an unsecured loan with fixed interest rates. The loan amount also ranges from $3,000 to $50,000, payable within 1 to 5 years.

Borrowers can also make additional repayments (early payout fee may apply) and redraw their advance personal loan balance.

To apply for this personal loan, interested customers must present proof of home ownership, such as a rates notice.

Fees Charged to Customers

Auswide Bank personal loan customers may be required to pay the following:

• Establishment fee: $250

• Account service fee: $5 per month

• Default administration fee: $40 per month

• Early payout fee: $50

Guarantee fees and real-time gross settlement (RTGS) payments may also apply.

These are correct at the time of writing and are subject to change.

How to Apply for a Personal Loan with Auswide Bank

To apply, interested borrowers must be an individual (not a business), an Australian citizen or permanent resident, and at least 18 years of age.

Applications can be completed online or in person at any branch. According to Auswide, the process should only take around 20 minutes.

Details and documents required:

• Driver's licence, Australian passport, or other govt-issued ID

• Proof of income (payslips or bank statements)

• Rates notice or other proof of homeownership (for home reno loan)

Approved applicants will receive a contract to sign, and may choose how they want to receive their borrowed funds.

We recommend contacting the bank's customer service or enquiring via live chat for more information on eligibility requirements.