Beyond Bank offers a variety of secured and unsecured personal loan products that can be used to finance debt consolidation, vacations, weddings, and renovations. 

What personal loans are available at Beyond Bank?

Customers at Beyond Bank can choose from low-rate, no-fee, or line-of-credit loans depending on their needs and circumstances (i.e. ability to provide security). Personal loans start at $2,000 with terms of up to seven years. 

Low-Rate Personal Loan

Beyond Bank’s low-rate loans allow customers to borrow money for any purpose and use their existing car – no more than eight years old – as security. Minimum loan amount starts at $5,000. Customers may opt to pay out their loans early without worrying about fees or penalties, as well as redraw extra payments they’ve made via Internet or mobile banking for free.

Flexi Personal Loan

This could be ideal for individuals seeking an unsecured personal loan with a fixed rate. Depending on their profile and creditworthiness, borrowers can take out at least $5,000 and repay their loans across terms of up to seven years. It also comes with unlimited repayment options and free redraws via Internet or mobile banking. 

Line of Credit

Need access to funds when needed? This personal loan features a variable rate and flexible borrowing option that lets customers access funds up to an approved limit whenever needed. It works in the same way as a credit card in which borrowers only need to pay interest on the amount they used and not the total limit. 

Once approved, borrowers can take out loans from as little as $2,000 and keep their funds in the bank’s facility without incurring any monthly fees. 

How to secure a lower interest rate at Beyond Bank

In upholding its commitment as a ’green’ institution, Beyond Bank extends rate reductions on loans intended to finance environmentally friendly investments or purchases. Since specific discount details are not disclosed, it is recommended to contact the bank directly to get detailed information on eligibility and potential rate reductions. 

What are the features of Beyond Bank's personal loans?

Dedicated to providing excellent customer service, Beyond Bank ensures customers can easily access their funds and pay their loans.  

• Loan pre-approval – Customers can get pre-approved to determine how much they can potentially borrow, allowing them to shop and budget with confidence.

• 24/7 fund access – Even if branches are closed, customers can access their money via Internet, mobile, and telephone banking.

• Redraw facility – Borrowers can make extra repayments on top of regular payments and redraw anytime without fees (staff-assisted transactions incur a fee).

• Flexible repayment options – Customers can make repayments weekly, fortnightly, or monthly.

What are the fees charged to customers?

Customers taking out a personal loan from Beyond Bank may be subject to fees upon the loan establishment and when applying for increased credit or requesting a change to the contract, subject to approval. 

Here’s a list of fees Beyond Bank charges to personal loan borrowers. 

Government fees and charges may also apply. It’s best to reach out to the bank’s lending consultants to get an exact computation of all applicable fees.  

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

Who can apply for a personal loan at Beyond Bank?

The personal loans offered by Beyond Bank are available to Australian citizens or permanent residents aged 18 years and over. 

Would-be borrowers need to present the following information and documents to support their loan application:

• Primary photo ID (e.g. passport, driver’s licence)

• Two most recent payslips

• Bank statements

Similar to other Beyond Bank products, anyone who acquires a personal loan will automatically become a member and part-owner of the bank.