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The Mutual Bank personal loans
Member-owned and local to the Hunter Region in NSW, The Mutual Bank has been here to help local people since 1888. The Mutual Bank provides members with choice and convenience for their personal and business banking with innovative digital solutions and traditional, award-winning customer service.
Our profits are reinvested into product and service improvements, competitive rates and minimal fees and tangible support for local educational, sporting, community and cultural organisations.
Branches are open six days a week offering a full range of banking services in Dungog, East Maitland, Edgeworth, Maitland, Mayfield, Raymond Terrace and Rutherford.
Personal Finance Editor
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Why choose The Mutual Bank
The Mutual Bank 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
Total interest
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Total 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 The Mutual Bank personal loan
The Mutual Bank personal loans come in a range of options. Secured and unsecured loans are available with fixed interest rates.
The minimum amount borrowers can apply for is $5,000 and the maximum is as high as $100,000, depending on the loan type. Loan terms of up to seven years are available based on what kind of personal loan is obtained from The Mutual Bank.
The Mutual Bank’s personal loan interest rates are moderate when compared to other financial institutions. Borrowers can use RateCity’s comparison tool to find competitive personal loan rates in Australia. An establishment fee may need to be paid when starting a loan with The Mutual Bank. A redraw facility may be available with a fee per withdraw.
The Mutual Bank personal loans - customer service
The Mutual Bank has branches in Dungog, East Maitland, Edgeworth, Maitland, Mayfield, Raymond Terrace and Rutherford. They are open six days a week and offer a full range of banking services. If you rely on face-to-face banking outside of these regional hubs, this may be a challenge.Â
Members of The Mutual Bank also have the option of managing their personal loans online, via an app or by using phone banking services.
Who is eligible for a The Mutual Bank personal loan?
Eligibility criteria for a The Mutual Bank personal loan is as follows:
- Be a member of The Mutual Bank
- Be over 18
- Be an Australian permanent resident
- Show income and employment history
- Show proof of existing debts
How to apply for a The Mutual Bank personal loan
The Mutual Bank allows potential customers to apply for a personal loan in multiple ways
- Calling the bank;
- Applying online via The Mutual Bank website; or
- Visiting a home loan specialist in person at a local branch.
Customers can also make enquiries about personal loan products online or by email. Before applying for a personal loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a personal loan. This will include:
- Personal identification documents.
- Proof of income – whether you are self-employed or work for an employer.
- Proof of assets, earnings and other income.
- Details of other loans, debts, liabilities and expenses.
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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.
