Interest Rate Increase - Thursday 5 February: Following the RBA’s decision to change the official cash rate, interest rates for owner occupier, investor and commercial variable loans will increase by 0.25%, effective 19 February 2026. From 19 February 2026, deposit rates across the majority of savings products will also increase by 0.25%. Find out more.

2026-02-03 3:38 pm

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Car loans

Used Car Loan

For used cars and motorbikes.

Apply now

Rates for used vehicles:

7.29 % p.a.

Fixed interest rate

Effective 17 December 2025

7.5 % p.a.

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.

Snapshot:
5 years – Maximum loan term for used vehicles
$1,000 – Minimum loan amount
$0 – Early repayment fee

Why us?

Fixed rates

The interest rate is fixed for the life of your loan.

Shared values

Rest assured that we don't fund industries that do harm, like fossil fuels or animal exports.

Fixed repayments

Take control of your budget with the certainty of regular repayments.

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

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What it's for

Our Used Car Loan is for cars and motorbikes.

Used cars up to 7 years old with a maximum loan term of 5 years
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.

See more on Productreview.com.au

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 Used Car Loan.

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Fees and charges

Here’s what to expect with our Used 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.

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Things you need to know

GENERAL ADVICE

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.

CAR LOAN

*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.

Lending for new vehicles is limited to Electric Vehicles (includeing ex-demonstrators with fewer than 1,000km). An Electric Vehicle is defined as a vehicle without an internal combustion engine (ICE).