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Arab Bank Australia Personal Loans

Arab Bank Australia opened in Australia in 1986 and is a subsidiary of Arab Bank PLC, which has been around for more than 80 years and has 500 branches across 30 countries.

Arab Bank Australia has five branches in Sydney and two in Melbourne, and customers have access to more than 3,000 rediATMs across the country.

The assets held by Arab Bank Australia total more than $1 billion.

Arab Bank Australia personal loan repayment calculator

Thinking about taking out a personal loan with Arab Bank Australia? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Arab Bank Australia personal loans compare with other options.

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years

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Arab Bank Australia Personal Loans rates

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Features of Arab Bank Australia personal loans

Loan types - secured or unsecured. A secured personal loan is where you use an asset (like a property or a car) as collateral. An unsecured personal loan is where there is no collateral, although your credit history and current financial situation will be considered.

Interest rates - variable and fixed

Loan amounts - from $5,000 to $50,000

Loan terms - one to five years

Repayment options - weekly, fortnightly or monthly. Repayment can be made via internet banking, and direct debit from an Arab Bank Australia account.

Fees - you may be charged an application fee, account-keeping fees and an early exit fee. Arab Bank doesn’t charge late fees.

Arab Bank Australia customer service

Arab Bank Australia offers customers several ways to get in contact, with the option for face-to-face customer service at its branches as well as phone and online services.

  • Phone
  • Email
  • Branch (only in Sydney and Melbourne)
  • Mobile banking staff
  • Mobile app
  • Online banking

Who is eligible for an Arab Bank Australia loan?

To apply you must:

  • Be 18 years or over
  • Be an Australian permanent resident or citizen
  • Have a reasonable credit history
  • Have proof of employment

How to apply for an Arab Bank Australia personal loan

You can either apply in person at a branch or online.

You will likely need the following documents and information:

  • Proof of address
  • Proof of ID (like a driver’s licence, passport or Medicare card)
  • Proof of income, assets and liabilities

Arab Bank Australia personal loans review

Arab Bank Australia offers a range of personal loan options, with the option to have a secured or unsecured loan with either a variable or fixed interest rate.

Arab Bank Australia’s interest rates are not the cheapest on the market, so you might find better value elsewhere.

Like other financial institutions in Australia, Arab Bank Australia tends to charge higher interest rates for unsecured loans compared to secured loans, while fixed-rate loans tend to be higher than variable-rate loans.

When it comes to its secured personal loans, Arab Bank Australia charges high interest rates, while its unsecured personal loans have moderately high to high interest rates.

The fees charged on personal loans by Arab Bank Australia vary, so it pays to carefully compare these before applying.

Arab Bank Australia does allow extra repayments without penalty, but only on its variable personal loans, not fixed. It does not offer a redraw facility.

FAQs

It may be much more difficult for a self-employed borrower to successfully apply for a personal loan if they also have bad credit. Many lenders already consider self-employed borrowers to be riskier than those in full time employment, so several self-employed personal loans require borrowers to have excellent credit.

If you’re a self-employed borrower with a bad credit history, there may still be personal loan options available to you, such as securing your personal loan against a vehicle of equity in a property, though your interest rates may be higher than those of other borrowers. Consider contacting a lender before applying to discuss your options.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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