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.
Benefits
Drawbacks
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
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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.
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.
Bank of Us stipulates the following eligibility criteria for personal loans applications:
The following application options are available for those who wish to borrow from Bank of Us:
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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