MyState Bank Personal Loans

MyState is a personal loan lender based in Tasmania. MyState is the largest Tasmanian-owned financial institution and has been in business for over 50 years. MyState is a wholly-owned subsidiary of MyState Limited, which was formed in 2009 after the merger between MyState and Tasmanian Perpetual Trustees Limited.

MyState serves over 120,000 customers in Tasmania and across Australia. It operates bank branches around Tasmania and offers customers access to a network of ATMs across the country.

MyState Bank personal loan repayment calculator

Thinking about taking out a personal loan with MyState Bank? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how MyState Bank personal loan compare with various products.

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MyState Bank Personal Loans

Features of a MyState personal loan

MyState offers multiple personal loans suitable for a range of borrowers. MyState provides both secured and unsecured personal loans, with variable  interest rates.

MyState personal loans have a maximum amount of $75,000 and a maximum term of 10 years. Customers can choose to make repayments weekly, fortnightly or monthly.

Customers are permitted free redraw facility as well as additional payments with no penalty. However, MyState charges both an establishment fee and a monthly fee.

MyState personal loan rates tend to be moderate.

MyState personal loans – customer service

Customers can contact MyState by phone, email, appointment or by dropping into one of its branches. MyState operates branches only in Tasmania, so other Australian residents will need to contact via phone or email.

Who is eligible for a MyState personal loan?

  • Must be at least 18
  • Must be an Australian citizen or permanent resident
  • Must be applying in your own name
  • Must have a good credit rating

How to apply for a MyState personal loan?

  • Click ‘Apply Now’
  • Complete the online application
  • Submit the online application

MyState personal loans review

MyState is a smaller Australian personal loan lender and, as such, offers a thinner range of loans than larger banks. However, MyState does provide both secured and unsecured loans with variable interest.

Customers can borrow up to $75,000 for up to 10 years.

MyState charges an establishment fee and ongoing monthly fees. Customers are allowed free redraws and free additional payments, which means customers are able to pay their loan early if they wish.

In terms of current personal loan interest rates, MyState is in the middle of the market. Both its secured and unsecured loan options offer moderate interest rates.

Because so many personal loan lenders exist, it’s important to compare personal loan rates. By comparing several different lenders, you’ll be able to find the best personal loan rates for your financial situation.

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