Personal lending

Often life-improvement plans require a little extra money; for a new car, home renovation, holiday or to put on the picture-perfect family wedding. Our team of personal bankers are just a phone call away to chat about your options. Or if you're a member already, apply online now ...

Car loans

Choosing a new car might be a hard decision but applying for financing for it doesn't have to be. We offer loans to members for the purchase of new or used cars, less than 7 years old.

Features

Interest rate of 6.99% per year1 
(Comparison Rate of 6.99% per annum)2
Loan terms up to 7 years
Available for vehicles aged up to 7 years
(Older vehicles can be considered)
Principal plus interest terms
Minimum loan amount is $15,000

Inclusions

Early payout penalties:  none
Extra repayments: yes, unlimited and free
Redraw: available for a $10 fee

Fees

Application fee: none
Annual fees: none
Early pay-out fee: none

Apply Now

Personal loans

Loans for members for things like home renovations, family holidays and big life events. Low fees, flexible terms and extra payments and redraw included as standard.

Features

Interest rate of 13.99% per year1 
(Comparison Rate of 14.25% per annum)2
Loan terms up to 7 years
Principal plus interest terms
 

Inclusions

Early payout penalties:  none
Extra repayments: yes, unlimited and free
Redraw: available for a $10 fee

Fees

Application fee: $1753
Monthly fees: none
Annual fees: none

Apply Now

VIP personal loans

Extra special personal loans just for members who already have a First Option home loan package: no application fees, amazing rates and our usual excellent personal banking service.

Features

Interest rate of 6.44% per year1 
(Comparison Rate of 6.44% per annum)2
Loan terms up to 7 years
Principal plus interest terms

Inclusions

Early payout penalties:  none
Extra repayments: yes, unlimited and free
Redraw: available for a $10 fee

Fees

Application fee: none 
Monthly fees: none
Annual fees: none

Apply Now

1 Interest rates are subject to change at the discretion of First Option Bank
2 Comparison rates are calculated on a loan amount of $30,000 over a term of 5 years. Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates.
3 Eligibility criteria, terms and conditions, fees and charges apply. Normal lending criteria apply. Stamp duty and government charges may apply. Any legal and valuation fees
will be on-charged at cost. Product is provided by First Option Bank Ltd ABN 95 087 650 735, Australian Credit Licence no. 236 509
4 VIP Personal Loan application fees are waived for members with current First Option home loan packages and have paid their annual home loan package fee

 

First Option Bank - low-rate credit card

Low-rate credit card

Interest Rate: 9.99% pa*
Interest Free Period: up to 45 days
Annual fee: $0 for the first two years, then $48 per year

Apply Now

Premium home loan package

Our most popular home loan packages with the perfect balance between low interest rates with included extras like attached offset account up to 100% of the loan value, free redraw facilities and unlimited extra repayments

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First Option Bank - low-rate credit card