People First Bank
Discounted Personal Loan
Our Discounted Personal Loan is free of ongoing monthly fees, offers flexible loan terms and can be used to buy or refinance a new or used car, caravan or motorcycle at a great rate. We offer a discounted interest rate with our Green Car Loan option.
Personal loansBank updated 9 June 2026
At a glance
- Fixed
- 6.49% · 6.84% comparison
- Loan size
- $20,000 to no maximum
- Upfront fee
- $250
§ 01 — Rates · 2
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| DiscountA Discounted Personal Loan (Green Car Loan) may be used to purchase or refinance a 'green' car (electric, hybrid electric or hydrogen) up to 7 years old and must secure the loan. | P&I | — | ≤1.5% LVR · $20,000–$120,000 | 0.50% | 6.34% | — |
| FixedA Discounted Personal Loan (Car Loan) may be used to purchase or refinance a car, caravan or motorcycle up to 10 years old and must be used as security. | P&I | 5 yrs fixed | ≤1.5% LVR · $20,000–$120,000 | 6.49% | 6.84% | — |
§ 02 — Fees · 5
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Arrears Administration Fee 1 | Event | $25 | — | Payable if you fail to make repayments due under your credit contract and you do not pay an amount sufficient to clear all repayment arrears within 7 days of us notifying you that your account is in… |
| Arrears Administration Fee 2 | Event | $25 | — | Payable if you fail to make repayments due under your credit contract and your account remains in arrears for a period of 20 days or more. |
| Notice of Enforcement fee | Event | $25 | — | Charged whenever an eforcement notice is issued in relation to a credit contract that is not secured by a mortgage over real property. |
| Preparation of Substitute Security | Event | $75 | — | — |
| Personal Loan Application Fee | Upfront | $250 | — | Personal Loan Application Fee |
§ 03 — Features
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- · Flexible repayment frequency - pay weekly, fortnightly or monthly.
- · Pre-Approval valid for 90 days
- · No penalties for additional repayments or early payout
- · Fixed for 5 years then reverts to a variable rate for remaining term up to 10 years.
- · No monthly account keeping fees
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: Permanent residents of Australia who reside in Australia at the time of membership application are eligible for membership, regardless of citizenship status.
- · Available to individuals
- · Amount $20,000 to no maximum
- · Terms, conditions, fees, charges and lending criteria apply and are available on application
§ 05 — Compare
§ 06 — Run the numbers
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Published by People First and Heritage Bank under the Consumer Data Right, last changed by them on 9 June 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.