Defence Bank LimitedNew Car Loan
Whether it’s your first car, a new car, motorcycle or a total change of the type of vehicle, there’s nothing quite like the feeling of being given the keys to your new set of wheels.
At a glance
- Variable
- 6.89%7.66% comparison
- Monthly fee
- $10
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.
| Rate | This personal loan | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| Car loan from a bank or lenderLowest advertised rate, fixed or variable | 6.89% | 5.74%Westpac's Car Loan | 6.99%of 42 institutions | 18th lowest of 42, level with one other |
Rates
The one rate Defence Bank Limited publishes for this personal loan.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableChoose a loan term from one to seven years | P&I | - | - | 6.89% | 7.66% | - |
Rate changes
One change logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 27 Oct 2026 | Variable, P&I | 6.39% | 6.89% | up 0.50 |
Each change is logged the night it appears in the rates Defence Bank publishes. See how every lender answered the RBA on the rate tracker.
Fees
6 fees published, grouped by when they're charged.
While you hold it1
- Personal Loan Service Fee
This fee is charged on the last day of each month during the loan term.
$10 a month
When particular things happen5
- Arrears reminder notice fee (per letter)
Payable each time we send you a reminder notice relating to arrears on a loan
$20 - Default notice (enforcement notice)
Payable each time we send you a reminder notice relating to a default on a loan
$20 - Loan Variation Fee
Payable when the loan conditions are varied at the request of the loan holder
$50 - Processing Fee (Security)
Payable on registration of loan security
$50 - Registration Fee (Security)
Payable on registration of loan security
$6
Features
- Quick approval process.
- Choice of 1-7 years.
- Repayments Weekly, fortnightly, monthly.
- No exit fee.
- No early repayment fee.
Eligibility and limits
- Residency: Australian residents only.
- Available to individuals
- 18
- Individuals must have capacity.
- New.
- Motor Vehicle/Motor Cycle.
Compare it with others
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Published by Defence Bank under the Consumer Data Right, last changed by them on 14 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.