Getting started
If you want to refinance an existing P&N Bank personal loan, or a loan you have with another bank or lender, we’re here to help.
You might be looking to increase your loan, lock in a lower secured interest rate, or combine multiple loans into one with a debt consolidation loan.
We offer both secured and unsecured fixed rate personal loans for any purpose. And you can use our repayment calculator to get an idea of your repayments.
If you have an existing P&N Bank loan you want to review or increase, or you want to speak to a team member about a new personal loan application, please contact our lending specialists on 13 25 77 to apply over the phone, or visit your nearest branch.
Alternatively you can apply for a new personal loan online at any time.
- your income,
- your expenses (living expenses, rent, insurance etc.),
- your assets (cars, deposit accounts, homes etc.) and
- your debts or liabilities (mortgages, other loans, credit cards, store cards etc.).
When we assess your loan application we consider your personal details, including your regular income and expenses, to determine your capacity to repay the loan.
To be eligible to apply for a P&N Bank personal loan you must be earning a primary income from a part time, full time or casual job. We may be able to accept some types of government benefits or centrelink payments as a type of income too.
For further information please contact our friendly lending consultants on 13 25 77.
General enquiry
Secured personal loan
Yes, we can assess your personal loan application and provide you with a loan pre-approval so you can shop for a car with confidence.
If the car you’re buying or refinancing is less than seven years old, you can apply for a car loan - which is a basically a secured loan for the purpose of buying a car.
If the vehicle is older than seven years old, you may be able to get an unsecured loan instead.
Securing the loan simply means that we’ll register an interest on the car at the Personal Property Securities Register (PPSR).
You can read more about this in our Personal Loan Terms and Conditions.
Unsecured personal loan
Yes, we offer unsecured personal loans to purchase a car or motor vehicle of any age. The minimum loan amount is $5,000, and you will get the benefit of a fixed rate and a range of flexible features.
Repayments & redraw
If you’re having trouble meeting your next home loan, personal loan or credit card repayment please call us on 13 25 77 or visit your nearest branch during business hours and we’ll connect you with a team member who can help.
We’ll work with you to come to an agreement based on your personal circumstances and may be able to offer you financial hardship assistance during this period.
Credit reporting
Your credit report shows how many times you’ve applied for credit and which loans you've opened and your history of making repayments, any defaults, and how much debt you currently have. This is very important information as it tells the new credit provider how you’ve treated those debts, which gives an indication about how you’re likely to treat the new debt.
It includes information that is needed to identify you - name; birth date; and recent addresses; current or last known employer’s name; driver’s licence number (if you have one).
Your credit report helps us determine your suitability for credit (loan) products, like home loans, personal loans or credit cards. When you apply for a home loan, personal loan or credit card with us we will check your credit report. We will also record your application for credit.
You can access your own credit report using the credit reporting bodies outlined on the CreditSmart website.
Your credit score is a summary of your credit report. It’s a number that indicates how healthy your credit report is – generally, the higher the number, the better you’re managing your credit. Your credit score can change as well, and under Comprehensive Credit Reporting (CCR), things like on-time repayments will positively affect your score.
There are a number of ways to find out your credit score, however the score that matters for your next credit application may depend on which reporting body the credit provider uses.
You can find out more about obtaining your credit score on the CreditSmart website.
Under CCR, financial institutions are sharing additional information which forms part of your credit report, providing a more in-depth view of your credit history. This information includes the type of accounts you hold, when they were opened, your credit limit(s), and up to 24 months of your repayment history – including payments made on time.
If you make your repayments on time, your credit score will reflect your good payment behaviour. This means lenders may look at this information more favourably if you have requested credit. If you’ve had difficulty in the past making repayments on time, but are now back on track, this will be considered in your loan application and may impact your ability to obtain credit.
Credit providers are looking for the following key indicators on your credit report to show that you are a good prospective customer:
- Stability – for example, credit providers want to make sure that you haven’t moved house too many times over a short period.
- Not too much credit – this includes credit that you’ve taken out, but also credit that you’ve simply applied for.
- Good payment history – credit providers want to see that you’re made your payments on time. Don’t worry if you’ve missed the occasional payment by a few days. One of the good things about the credit reporting system is that each payment you do make on time will make you look better to credit providers. If you think you’ve missed (or will miss) more than an occasional payment, it's best to speak to your lender about it.
- No negative entries – this includes defaults, bankruptcy information and court judgments. These types of things will make it harder for you to get credit (at least until they fall off your credit report in 5-7 years).
In Australia, everyone has the right to one free credit report per year from each of the three main credit reporting bodies. These reports include the information that credit providers see when you apply for a loan or credit, so it’s important to check each report for any errors.
It's worthwhile getting a copy of your credit report before you apply to borrow money or buy something on credit, if you're eligible to. Checking your own credit report has no impact on your credit report or credit score when viewed by a credit provider.
You can access your credit report from the following organisations:
If you want to access your credit report more than once per year you can also choose to pay for an additional one from some of these organisations.
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