Bank Australia (loans): verified facts and rating
Licensed since: 1957 Checked 2026-10-30
Score breakdown
98% backed by facts · How we rank
Bank Australia (loans) against the market
The dot is the company, the line is the median of all companies in this ranking.
Published rate, % of country reference81%158%100% · median 100%
Support hours a week60 h87 h65 h · median 69 h
Longest term84 mo120 mo120 mo · median 84 mo
Bank Australia (loans) strengths and weaknesses
Pros
- Long licence history
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
Cons
- An arrangement fee can apply
All facts
| Fact | Value | Source | Checked |
|---|---|---|---|
| Licensed since | 1957 1957 We started life as the CSIRO Co-operative Credit Society. 2011 We became Australia's first customer-owned bank under the name bankmecu. | bankaust.com.au | 2026-10-30 |
| Licensed by the regulator | Yes Bank Australia Limited (AFSL/Australian Credit Licence 238431 per bankaust.com.au) | apra.gov.au | 2026-10-30 |
| Published rate, % of country reference | 100% Variable only: 9.49% p.a. variable interest rate, effective 15 October 2026; 10.53% p.a. comparison rate based on a unsecured loan of $10,000 for 3 years · APR 10.53% · index 100 = 10.53% (median at launch) | bankaust.com.au | 2026-10-30 |
| Free early repayment | Yes Early repayment penalty: No (Lifestyle Personal Loan) | cdn.bfldr.com | 2026-10-30 |
| No arrangement fee | No Establishment fee - Lifestyle Personal Loan $150 | bankaust.com.au | 2026-10-30 |
| Fees or terms published | Yes Personal loans accounts table (PDF), plus public rates and fees page | cdn.bfldr.com | 2026-10-30 |
| Complaints procedure | Yes How to make a complaint: online form, 132 888, complaints and dispute resolution guide | bankaust.com.au | 2026-10-30 |
| Online application for new customers | Yes Apply for a personal loan. All you need is your driver's licence or passport, and your Medicare card, to get started. Apply now | bankaust.com.au | 2026-10-30 |
| Support hours a week | 65 h Get in touch if you need us. Monday to Friday 8:00am-8:00pm; Saturday 9:00am-2:00pm AEST/AEDT | bankaust.com.au | 2026-10-30 |
| Maximum amount, % of country reference | Not verified | — | |
| Longest term | 120 mo Loan Terms. Maximum term of 10 years and minimum amount of $1,000 apply to Lifestyle Personal Loans. | bankaust.com.au | 2026-10-30 |