Hume Bank personal loans

Interest rates

All Hume Bank personal loans have fixed interest rates.

Fees

• Upfront application fee charged
• No monthly fees
• No fee for extra repayments and early exit
• Missed payment penalty fee charged

Loan terms

One to five years.

Loan amounts

From $2,000. Maximum limits will be determined by Hume Bank on application.

Security

Hume bank offers secured loans where customers use their property, a term deposit or a vehicle as collateral. Hume Bank also offers unsecured loans, where there is no collateral. Higher interest rates are charged for unsecured personal loans.

Repayment options

• Weekly, fortnightly or monthly
• Additional payments can be made without penalty
• The loan can be paid off early without penalty

Hume Bank is headquartered in Albury, New South Wales, and has 19 branches in southern NSW and north-eastern Victoria. Customers also have access to its online banking and app services 24/7. Hume Bank Customers can seek assistance in the following ways:

• Branch (Monday-Friday at all branches, Saturdays at some branches)
• Phone
• Email
• Mobile lenders
• Mail

To be eligible for a Hume Bank personal loan, you must be:

• At least 18 years of age
• An Australian citizen or a permanent resident of Australia
• Not bankrupt or insolvent

Hume Bank lets customers apply for a personal loan online or in person at a branch.

The online application form takes about 15 minutes.

You will likely need the following documents:

• Driver’s licence or passport
• Two most recent payslips
• Current group certificate/PAYG payment summary
• If self-employed: The last two years of financial statements and income tax returns
• If consolidating credit cards debts: The last three months of statements for each card
• If consolidating personal loan debts: A statement showing the past three months of transactions and balances
• If you have other debts not held with Hume: A current statement for any of these debts
• If you have savings not held with Hume: The last three months of statements

Hume Bank offers personal loans packed with features for a wide variety of needs, including consolidating debt, paying for special occasions like weddings, or holidays and medical bills.

Once a relatively low application fee is paid, there are no ongoing charges on a personal loan with Hume Bank, and no penalties for making extra repayments or paying off the loan early

There is also a free redraw facility offered by Hume Bank on its personal loans.

When it comes to interest rates, Hume Bank only offers fixed-rate personal loans. The rates on Hume Bank’s secured personal loans are higher than the unsecured.

Compared to other lenders, Hume Bank’s unsecured personal loans have very low to moderately low interest rates, depending on the product, while its unsecured personal loans have a moderate interest rate.