Bank Australia, recognised for its strong stance on ethical and sustainable banking, extends these values to its personal loan offerings.

With a focus on meeting various financial needs while upholding environmental responsibility, the bank’s personal loan products can cater to a unique segment of the market.

Bank Australia personal loan review

Bank Australia markets two personal loan products: One for homeowners and one for all other borrowers. 

The loans can be used to fund just about anything a borrower’s heart desires, such as debt consolidation, home renovations, or a significant life event.

Types of Personal Loans

Bank Australia offers two types of personal loans:

  • Lifestyle Personal Loan: This loan is unsecured and versatile, allowing borrowers to fund various personal needs like holidays, debt consolidation, or renovations. The variable interest rate might fluxuate over the loan term.

  • Lifestyle Personal Loan - Property Owner: Available for property owners, this loan offers a lower variable interest rate as the borrower's property secures the loan. It is particularly beneficial for those seeking competitive rates.

  • The bank also offers car loans, which InfoChoice has detailed separately. 

Bank Australia personal loans: Features and benefits

Flexible repayment options

Borrowers can choose their repayment schedule - weekly, fortnightly, or monthly.

Extra repayments and redraw facilities

Extra repayments are allowed without penalty, helping borrowers pay off loans faster. 

Redraw facilities are available for those with a Property Owner loan, allowing borrowers to access extra repayments if needed.

Green loan initiatives: Aligning with environmental values

The bank has integrated its sustainability mission into its personal loan products.

These initiatives reflect the bank's broader commitment to the environment. 


  • Applicants must be at least 18 years old and residents in Australia (permanent residents or with relevant work visas)

  • A regular income is necessary, ensuring borrowers can manage their loan repayments effectively

  • A good credit history is typically required, reflecting the borrower's ability to manage loans responsibly


Fee Type


Establishment Fee

$150. A one-time fee charged for setting up the loan.

Ongoing fees


Late repayment fee


Early repayment fee