Police Bank is a member-owned mutual bank offering financial products and services to the NSW Police Force, Australian Federal Police and the wider police community.
Police Bank’s Australian membership has grown to over 75,000 members since its humble beginnings in 1964 when it had only 60 members.
Police Bank has a limited number of branches for its members to visit, all of which are located in the southeast region of Australia.
Benefits
Drawbacks
Australian Credit Licence 240018Fees & charges apply
7.49%
7.62%
$601
$36,060
Australian Credit Licence 240018Fees & charges apply
9.99%
10.13%
$637
$38,236
Australian Credit Licence 240018Fees & charges apply
12.99%
13.14%
$682
$40,946
Australian Credit Licence 240018Fees & charges apply
14.10%
14.35%
$700
$41,976
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
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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.
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.
Police Bank personal loan applicants must meet the following eligibility criteria:
Potential borrowers can apply for a Police Bank personal loan in the following ways:
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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