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2023-12-22 2:05 pm

Car Loan

For new or used cars and motorbikes. And you can pay off your loan early at no cost to you.

Our rates starting from:

Fixed interest rate
Effective 13 February 2024
Comparison rate
Comparison rate based on a secured loan of $30,000 for 5 years. Terms and conditions, and other fees and charges, may apply.
7 years – Maximum loan term
$1,000 – Minimum loan amount
$0 – Early repayment fee

Why us?

Who it's for

  • People aged 18+
  • People living in Australia as a permanent resident or with a relevant work visa
  • People with a regular source of income

What it's for

Our Car Loan is for cars and motorbikes.

  • Brand new cars or used cars up to 7 years old
  • Registered with the Road Traffic Authority
  • Comprehensively insured
  • Buy or refinance an existing car loan

Is this product right for you? Find out more

What you get

“Fantastic, friendly and fast loan experience. They were awesome with all my questions and concerns during the loan process. It's great to be able to lend and bank with an ethical Australian institution, that doesn't mean I miss out on great service and friendly staff.”
Review by Blaise.

Carbon offsets

We offset your car’s carbon emissions for the life of the loan. Find out how.

A fixed rate

The interest rate is fixed for the life of the loan – there are never any repayment surprises.

Extra flexibility

Set up monthly, weekly or fortnightly repayments – whatever works for your budget cycle.

Fee-free extras

You can pay extra whenever you like without penalty. You can even pay your loan off early.

Calculate your repayments

See what your repayments could be with our fixed rate Car Loan.


LEV Car Loan

Buying a hybrid or electric vehicle? The LEV Car Loan is our way of saying thanks on behalf of the planet. We want to reward you for choosing an LEV (low emission vehicle) with a lower interest rate and no fees.

  • LEV interest rate discount
  • No establishment fee
  • Carbon offset
  • Fixed rate
Learn more
Above: LEV vehicle at Cape Patterson, VIC

Fees and charges

Here’s what to expect with our Car Loan:

  • Establishment fee $150
  • Early repayment fee $0
  • Late payment fee $0

It pays to know. Read the Product Disclosure Document and this fact sheet to help you decide if this loan is right for you. See all rates and fees.

Start your application now

Apply for a car loan. All you need is your driver's licence or passport, and your Medicare card, to get started.

Apply now

Money, People & Planet

See more at the Bank Australia blog
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Things you need to know


  • Information provided is general in nature only. Any information and advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and seek any third party advice you need.
  • All applications are subject to a credit assessment and approval.
  • All applicable terms and conditions will be included in our loan offer.
  • Additional fees and charges may be payable – all relevant details will be included in our loan offer.
  • Information and interest rates are current as at the date of publication and are subject to change at any time, at the discretion of Bank Australia Limited.


^Carbon emissions: We calculate emissions associated with each car loan based on average vehicle emissions figures and average mileage figures for Australian vehicles (sources: National Greenhouse Accounts Factors and Australian Bureau of Statistics). For each car loan, we use the average vehicle emissions factor multiplied by the share of the year that the car loan was active. To access this rate, we require a Goods Security Agreement on the car. The car must also be registered in the name of the borrower.

*Comparison rate: The Comparison Rate is based on a secured loan of $30,000 for 5 years. Additional fees and charges may be applicable. WARNING: This comparison rate is true only for the example given and may not include all fees and charges.

#Bank Australia Low Emission Vehicle criteria: Bank Australia may provide a Low Emission Vehicle (LEV) pricing benefit if the car is Pure Electric, Plug In Hybrid Electric, Regenerative Hybrid or the internal combustion engine produces less than 125 g / km Tailpipe C02 (g/km) as published by Green Vehicle Guide©.

© Commonwealth of Australia (Department of Infrastructure, Regional Development and Cities) 2018 Limited End-user licence provided by the Department of Infrastructure, Regional Development and Cities: You may print and reproduce views obtained from the Green Vehicle Guide data, retaining this notice, for your personal use only. The Department of Infrastructure, Regional Development and Cities gives no warranty regarding the Green Vehicle Guide data's accuracy, completeness, currency or suitability for any particular purpose.