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Bank of us personal loans
Bank of Us is Tasmania’s only customer-owned bank and has a history dating back as far as the 19th century.
With only eight branches serving members within Tasmania, Bank of Us is an online bank for the rest of Australia.
In addition to personal loans, Bank of Us also offers its customers everyday bank accounts, savings accounts, credit cards, home loans and insurance.
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Why choose Bank of us
Bank of us Personal Loans
Personal Loans calculator
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
Your estimated repayments
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- This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
- Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
- Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
- Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
- The calculation rounds of the personal loan repayment to the closest dollar value without decimals.
- All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
- Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
- Calculator does not include the cost of fees or other extra charges.
- Calculator does not account for changes to interest rates over time.
- This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.
Features of a Bank of Us personal loans
Bank of Us offers secured and unsecured personal loans for its members to choose from. Both lending options come with variable interest rates.
Bank of Us personal loan rates range from very low to moderately low depending on which borrowing option is chosen. Use RateCity’s personal loans comparison tool to find a personal loan with interest rates that are right for you.
Bank of Us borrowers could receive up to $100,000 depending on the loan type.
The maximum loan term for Bank of Us personal loans is 10 years.
Upfront fees, missed payment fees and ongoing monthly fees apply to Bank of Us personal loans.
Bank of Us personal loans - customer service
There are only eight Bank of Us branches to visit and all of them are located in Tasmania. Customers outside Tasmania do not have branch access. Online banking, email and phone services are available for Bank of Us customers who need assistance.
Who is eligible for a Bank of Us personal loan?
Bank of Us stipulates the following eligibility criteria for personal loans applications:
- Be a Bank of Us member
- Employed with history of income
- Good credit
- At least 18
- Secured loans must be paired with a Bank of Us home loan
How to apply for a Bank of Us personal loan
The following application options are available for those who wish to borrow from Bank of Us:
- Phone application
- In-person application at a branch
- Online application
Bank of Us personal loans review
Bank of Us personal loans have variable interest rates. Borrowers have secured and unsecured lending options to choose from - although please note that to get a secured personal loan you need to have a home loan with Bank of Us.
Bank of Us interest rates range from very low to moderately low, which could be useful for borrowers looking to save on interest.
Ongoing fees are comparable to those of the major banks. The upfront fees are moderate and there are no early exit penalty fees.
Bank of Us borrowers should be mindful of the moderately high late payment penalty fees.
Loan terms of up to 10 years could be useful for borrowers who need more time to pay off their personal loans.
Compare personal loan rates with RateCity to find the best personal loan rates available for your circumstances.
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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.
