Police Bank Personal Loans

Why choose Police Bank

Benefits

Very low interest rates available
No early exit penalty fee
No ongoing fee

Drawbacks

Limited amount of branches
Upfront fee
Secured loans unavailable

Personal Loans calculator

Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.

Your estimated repayments

based on a $30,000 loan for 5 years at -

Total loan repayments

Total interest charged

Features of a Police Bank personal loan

Police Bank offers a range of lending products for its members to choose from. All personal loans are unsecured with variable and fixed interest rate options.

Applicants for a Police Bank personal loan will pay an upfront fee that is lower than what most major banks charge. Police Bank personal loans do not come with any ongoing fees for members to pay.

Personal loan interest rates from Police Bank range from very low to moderate. Interest rates for each loan will depend on the type of loan chosen by the borrower.

Police Bank does not charge an early exit penalty fee for members who pay off their loan before the end of term.

Police Bank personal loans - customer service

There are a limited number of branches that Australian members can visit. All branches are located in New South Wales, Victoria and the ACT.

Members who are not located near a branch have online banking or assistance by phone as their banking options.

Who is eligible for a Police Bank personal loan?

Police Bank personal loan applicants must meet the following eligibility criteria:

Be an Australian resident
Have a history of income
Be 18 years of age or older
Pass a credit check
Be borrowing more than $5,000

How to apply for a Police Bank personal loan

Potential borrowers can apply for a Police Bank personal loan in the following ways:

Visit a branch
Apply online
Apply by phone

Police Bank personal loans review

Police Bank personal loans may appeal to members of the police force, relatives or friends who need assistance paying for home renovations, weddings, holidays, debt consolidation or a vehicle.

Police Bank personal loan rates vary from very low to moderate depending on the type of loan. Some borrowers could find savings here given the very low interest rates available.

There are no ongoing fees and a lower-than-average upfront fee with a Police Bank personal loan. This may give members more opportunities to save on their loans.

A personal loan from Police Bank does not come with any penalty fees for paying off the loan before the end of term. This could be a good money-saving option for borrowers who anticipate an improvement in their financial situation further down the track.

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About our expert

Nick Bendel

Property & Personal Finance Writer

A property and personal finance writer, Nick Bendel covered property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Police Bank personal loans

Why choose Police Bank

Benefits

Drawbacks

Police Bank Personal Loans