Why choose Bank First

Benefits

  • Redraw facility available
  • No ongoing fees
  • No early exit penalty fee

Drawbacks

  • Only two branches in Australia
  • Potential for moderately high interest rates
  • No loans below $5,000 available

Bank First Personal Loans

Loan amount

$

Loan term

credit score icon

Credit score

Don't know your score? Find it out here.

Sort by

Default
Compare

All filters

Loan amount
$
Loan term
Credit score

Don't know your score? Find it out here.

Loan type
Security type
Features
Specials
Fees
Providers

Type of lender

Include all products?

Yes

We provide links to some financial institutions. If you click through to a financial institution, you can get more product information, apply for or purchase the product and RateCity may earn a fee for referring you. This is one of the ways RateCity makes money and how we can offer our comparison service to you for free. See how we make money for more.

Provider
Total repayments
Compare

Australian Credit Licence 240960Fees & charges apply

8.15%

9.49%

up to 9.49%

$610

$36,627

Share Loan
  • 1 to 5 years
  • Unsecured
  • Variable Rate
  • No ongoing fees

Australian Credit Licence 240960Fees & charges apply

Australian Credit Licence 240960Fees & charges apply

8.15%

9.49%

up to 9.49%

$610

$36,627

Share Loan Fixed
  • 1 to 5 years
  • Unsecured
  • Fixed Rate
  • No ongoing fees

Australian Credit Licence 240960Fees & charges apply

Australian Credit Licence 240960Fees & charges apply

9.64%

11.00%

$632

$37,927

Personal Loan
  • 0 to 7 years
  • Unsecured
  • Variable Rate
  • No ongoing fees

Australian Credit Licence 240960Fees & charges apply

Australian Credit Licence 240960Fees & charges apply

9.64%

11.00%

up to 11%

$632

$37,927

Personal Loan Fixed
  • 1 to 5 years
  • Unsecured
  • Fixed Rate
  • No ongoing fees

Australian Credit Licence 240960Fees & charges apply

Australian Credit Licence 240960Fees & charges apply

12.79%

13.43%

$679

$40,762

Overdraft
  • 0 to 10 years
  • Unsecured
  • Variable Rate

Australian Credit Licence 240960Fees & charges apply

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 8.15%

Total loan repayments

-

Total interest charged

-

Features of a Bank First personal loan

Bank First offers a range of personal loans for its members to choose from. There are secured and unsecured loans available, with fixed and variable interest rates.

Bank First personal loan rates vary from moderately low to moderately high depending on the type of loan chosen. RateCity’s personal loan comparison tool can help you compare personal loan rates and find the best loan available for your needs.

Loan terms of up to seven years are available to customers who choose to take out a personal loan with Bank First.

There are no ongoing fees for Bank First personal loans, but borrowers will pay an upfront fee that is on par with most major banks. Additionally, there is no early exit penalty fee.

Bank First personal loans - customer service

Bank First only has two branches to visit, so most potential borrowers will need to be satisfied with online banking services only.

In addition to help by phone and email, Bank First also offers a web chat option during business hours.

Who is eligible for a Bank First personal loan?

The following criteria must be met for borrowers to get a Bank First personal loan:

  • At least 18
  • Be a Bank First member
  • Good credit
  • Employed with history of income
  • Collateral if the loan is secured

How to apply for a Bank First personal loan?

The following methods of applying for a Bank First personal loan are available:

  • Online application form
  • Phone application
  • Visit a branch to apply in person

Bank First personal loans review

There are many personal lending options available from Bank First, so different types of borrowers may be able to find a loan that suits them. Bank First personal loans include secured and unsecured loans, with both fixed and variable interest rates.

Borrowers who are looking for lower interest rates might be satisfied with the moderately low interest rate option available. However, this rate does not apply to all loans offered by Bank First, and some do have moderately high interest rates.

Bank First does not charge its members a penalty fee for paying off their loan ahead of schedule. This is useful for anyone who wants to pay off their loan early and avoid additional interest.

The lack of branches (only two in Australia) could be a deterrent for anyone who prefers more personalised customer service.

About our expert

Did you find this page helpful?

^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.