Personal Loans

Enjoy the freedom to buy a new car, take a much-needed holiday or even tackle some home renovations. 

Equity Car Loan

Equity Car Loan

If you’re looking to buy a new car or motorbike and have a deposit of 20% or more, our Equity Car Loan gives you a further discount^ on an already low interest rate.


interest rate^



Apply online

in under 15 minutes



Take a look at the key features of the Equity Car Loan:

  • Borrow up to 80% of the price of your new car
  • Minimum loan size $1,000, maximum $80,000
  • Loan term of up to 7 years
  • Available for cars less than 12 months old
  • The option to make extra repayments
  • The option to pay off your loan early without penalty
  • Flexible repayment frequencies - pay weekly, fortnightly or monthly
  • The option to make repayments straight from your salary
  • Redraw facility available
  • Loan repayment insurance available
Applications for the Equity Car Loan can be made online, over the phone by calling 1300 13 23 28 or in person by visiting your nearest branch.

Rates & Fees


Here's everything you need to know about the rates and fees for the Equity Car Loan:

  • Interest Rate: 3.60% pa
  • Comparison rate*: 4.51%pa

*Comparison rate based on a $30,000 loan over 5 years unsecured. WARNING: The comparison rate is applicable only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

  • Application fee: $150
  • Monthly fee: $10
  • Annual fee: $0

Additional fees, including a redraw fee and personal property security administration fee, may be payable. For more information please see our Schedule of Fees and Charges.

Download our Schedule of Fees and Charges



Here are the top 5 questions we get asked about our Equity Car Loan. Call us on 1300 13 23 28 if you have a different question. 

How do I qualify for an Equity Car Loan?
Our Equity Car loan offers a lower interest than our new Car Loan and is for buying a car where you have a deposit of 20% or more, and the car is less than
1 year old. Applications for this loan are subject to Australian Military Bank’s normal lending criteria.  

Can I redraw excess funds from my loan?
Yes. If you’re ahead in your repayments, the Equity Car Loan allows you to redraw extra funds if needed.

How old can my car be?
To qualify for this loan the car you purchase must be less than 1 year old.

Can I choose my repayment frequency?
Yes. You can choose the repayment frequency that best suits you - weekly, fortnightly or monthly.

How long do I have to pay off my loan? 
You can pay off your loan over a period of up to 7 years. If you would like to pay your loan off sooner, you can also make additional repayments to reduce the loan term and pay it off early without penalty.

Interest Rate
Comparison Rate*
Redraw Facility
Minimum Amount
Maximum Amount
Loan Period
Early Repayments without Penalty
Loan Repayments from Pay
Flexible Repayment Options
Maximum Car Age

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