Bank First - New Car Loan
Secured | Variable
The Bank First New Car Loan offers an advertised interest rate from 9.79% p.a. and a comparison interest rate from 10.07% p.a.. The Bank First New Car Loan is a Variable rate, Secured loan with a minimum borrowing range of $10,000 and a loan repayment term of between 1 and 7 years.
More Bank First New Car Loan details can be found below or visit Bank First to learn more or apply.
A Secured loan with an advertised rate of 9.79% p.a. and comparison rate of 10.07% p.a.
Advertised Rate
9.79% p.a. Variable
Comparison Rate
10.07% p.a.
Loan Term
1 to 7 years
Borrowing Range
$10,000
Interest
Rate Type
Variable
Advertised Rate
9.79% p.a.
Variable
Comparison Rate
10.07% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Goods security agreement on the motor vehicle.
Loan Terms
Loan Term
1 to 7
years
Borrowing Range
$10,000
Repayment
Monthly, Weekly, Fortnightly
Features
Extra Repayments Allowed
Yes
Redraw Available
Yes
Fees
Establishment Fee
$195
one off
Loan Service Fee
$0
per month
Late Payment Fee
$20
per event
Who is the product designed for?
The retail clients for whom this product has been designed are individuals who:
- Are seeking a loan for the purchase of a new motor vehicle that is less than 12 months old
- Are aged 18 years or more and meet the credit assessment criteria for the product
- Are able and willing to offer acceptable security for the loan
- Require the flexibility to make additional repayments and an ability to redraw advance repayments as required
Visit Bank First to view Target Market Determination Effective From: 2024-02-28.
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