Unlike a lot of other financial unions that charge a minimum of $10 per month as an account-keeping fee, Gateway Bank does not charge the account fee for their customers. This is one of the benefits of Gateway Bank personal loans. This article will introduce all the features of Gateway Bank loans.
In the previous post, Loansaustralia.net introduces people to some of the necessary information that is useful for getting the IMB Bank personal loans, to get more information people can read the article Consider IMB Bank personal loans to get money up to $60,000 Now, let find knowledge about loans of Gateway Bank in the post today.
GATEWAY BANK PERSONAL LOANS
Just like a lot of article posts about the personal loans in Australia, as well as each type of loans such as IMB Bank personal loans, People’s Choice Credit Union personal loans, St.George personal loans, Greater Bank personal loans…. this post about the Gateway Bank loans also includes some main parts. They are:
1. Some requirements to apply for Gateway Bank loans
Before applying for any personal loans of Gateway Bank, customers need to meet some requirements, they are:
- Customers need to be at least 18 years of age
- Customers need to be a permanent resident or Australian citizen
- Customers need to be currently employed
- Customers need to receive a regular income
- Customers need to haven’t declared bankruptcy or insolvency
- Customers need to haven’t defaulted on any loans, interest-free finance, credit cards, or store cards in the last 5 years
Customers need to submit some following documents:
- The income. Some information about gross and net salary and income from shares or other sources.
- Employment. Some information regarding the employment of customers.
- Assets. The approximate values of any vehicles, property, savings or superannuation.
- Liabilities. The current loan balances, credit card, repayment amounts, and overdraft limits.
2. Some benefits of Gateway Bank loans
- Gateway Bank loans do not have account-keeping fees. Unlike a lot of other financial unions that charge a minimum of $10 per month as an account-keeping fee, Gateway Bank does not charge the account fee for their customers.
- The loan term of up to 7 years. Customers can choose the repayment time frame that can be extended up to 7 years (if customers have a variable rate loan), or up to 5 years (with customers have a fixed interest rate loan).
- The flexible repayment schedule. Customers can choose the repayments every week, every fortnight or every month.
- Unrestricted additional repayments. Gateway Bank gives customers the freedom to make additional repayments to pay off the loan sooner and save on interest costs.
Gateway Bank personal loans have a lot of benefits to attract customers
3. The interest rate and fees of Gateway Bank loans
| Best Interest Rate | |
| Variable interest rate | 9.84% pa |
| Comparison rate | 10.86% pa |
| Tiered Interest Rates | |
| Less than 50% debt consolidation – Variable Interest Rate | 9.84% pa |
| Less than 50% debt consolidation – Comparison Rate | 10.87% pa |
| More than 50% debt consolidation – Variable Interest Rate | 11.84% pa |
| More than 50% debt consolidation – Comparison Rate | 12.89% pa |
| Fees | |
| Establishment fee | $149 |
| Monthly fee | $0 |
| Features | |
| Minimum amount | $3,000 |
| Maximum Amount | $30,000 |
| Maximum term (years) | 7 |
| Redraw facility | Yes |
| Additional repayments accepted | Yes |
| Additional repayments fee $ | $0 |
| Branch access | Yes |
- Customers get $30,000 with unsecured loans
- Loan term 5-year
- The interest rate is 9.84% p.a.
- Application fee: $149
- Monthly fee: $0
- The total amount payable is $33,101 including interest and fees
- Each month, customers need to pay $551,683
This post is about loans of Gateway Bank. We provide this information to offer you some of the necessary information that is useful for getting loans from Gateway Bank. Also if you are looking for information about the personal loans from People’s Choice Credit Union, please refer to the People’s Choice Credit Union personal loans link we just provided in the previous article.