Arab Bank Australia opened in Australia in 1986 and is a subsidiary of Arab Bank PLC, which has been around for more than 80 years and has 500 branches across 30 countries.
Arab Bank Australia has five branches in Sydney and two in Melbourne, and customers have access to more than 3,000 rediATMs across the country.
The assets held by Arab Bank Australia total more than $1 billion.
Benefits
Drawbacks
Australian Credit Licence 234563Fees & charges apply
11.30%
12.32%
$657
$39,406
Australian Credit Licence 234563Fees & charges apply
14.00%
14.99%
$698
$41,883
Australian Credit Licence 234563Fees & charges apply
16.90%
17.86%
$744
$44,638
Australian Credit Licence 234563Fees & charges apply
19.60%
20.54%
$788
$47,289
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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Total loan repayments
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Total interest charged
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Loan types - secured or unsecured. A secured personal loan is where you use an asset (like a property or a car) as collateral. An unsecured personal loan is where there is no collateral, although your credit history and current financial situation will be considered.
Interest rates - variable and fixed
Loan amounts - from $5,000 to $50,000
Loan terms - one to five years
Repayment options - weekly, fortnightly or monthly. Repayment can be made via internet banking, and direct debit from an Arab Bank Australia account.
Fees - you may be charged an application fee, account-keeping fees and an early exit fee. Arab Bank doesn’t charge late fees.
Arab Bank Australia offers customers several ways to get in contact, with the option for face-to-face customer service at its branches as well as phone and online services.
To apply you must:
You can either apply in person at a branch or online.
You will likely need the following documents and information:
Arab Bank Australia offers a range of personal loan options, with the option to have a secured or unsecured loan with either a variable or fixed interest rate.
Arab Bank Australia’s interest rates are not the cheapest on the market, so you might find better value elsewhere.
Like other financial institutions in Australia, Arab Bank Australia tends to charge higher interest rates for unsecured loans compared to secured loans, while fixed-rate loans tend to be higher than variable-rate loans.
When it comes to its secured personal loans, Arab Bank Australia charges high interest rates, while its unsecured personal loans have moderately high to high interest rates.
The fees charged on personal loans by Arab Bank Australia vary, so it pays to carefully compare these before applying.
Arab Bank Australia does allow extra repayments without penalty, but only on its variable personal loans, not fixed. It does not offer a redraw facility.
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