The Finance Algorithm
Bank Australia logoBank Australia

Fixed Car Loan

A range of car loans for electric vehicles (Evs) and used cars.

Personal loansBank updated 28 Oct 2026
Apply at Bank Australia ↗Product page ↗Fees and pricing ↗Terms ↗

At a glance

Fixed
6.29%6.29% comparison
Loan size
$1,000 to no maximum
Upfront fee
$150

How it compares

This personal loan in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.

This personal loan: 6.29%Every other institution's lowest, 41 in all

Lowest advertised rate, fixed or variable. One dot per institution, at its lowest car loan rate from a bank or lender anyone can apply for; hover or tap a dot for its name.

RateThis personal loanBest anywhereTypical institutionWhere it sits
Car loan from a bank or lenderLowest advertised rate, fixed or variable6.29%5.74%Westpac's Car Loan6.99%of 42 institutions9th lowest of 42, level with one other

Rates

Every rate Bank Australia publishes for this personal loan, 2 in all.

TypeApplies toTermBandRateComparisonConditions
FixedApplicable to new or used electric vehicles. Max term for new vehicles is 7 years, max term for used vehicles is 5 yearsP&I7 yrs fixed-6.29%6.29%-
FixedApplicable to used combustion engine vehiclesP&I7 yrs fixed-7.29%7.50%-

Fees

3 fees published, grouped by when they're charged.

  1. When you take it out$150Establishment Fee - Personal Loan
  2. While you hold itNo fee published
  3. When you close it or pay it offNo feeEarly Repayment Fee

When you take it out1

  • Establishment Fee - Personal Loan

    Personal Loan Establishment Fee waiver

    $150

If a payment is late or fails1

  • Late Payment Fee
    No fee

When you close it or pay it off1

  • Early Repayment Fee
    No fee

Features

RedrawExtra repaymentsDigital banking
  • Flexible Repayments: Make your loan repayments weekly, fortnightly or monthly

Eligibility and limits

  • Minimum age 18
  • Residency: AU
  • Available to individuals
  • Amount from $1,000, no maximum
  • Applications for loans are subject to the Bank's lending criteria.
  • Maximum age of 7 years new Vehicle and 5 years for used vehicle
  • The vehicle must be road registered
  • The vehicle is required as security for the loan, and security interest noted on the Personal Property Securities Register (PPSR)
  • Maximum LVR of 100%
  • Lending for new vehicles (including ex-demonstrators with fewer than 1,000 km) is limited to Electric Vehicles (EVs). An EV is defined as a vehicle without an internal combustion engine (ICE).

Published by Bank Australia under the Consumer Data Right, last changed by them on 28 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.