First established in 1880 as Illawarra Mutual Building Society, IMB has expanded its reach over its 142 year history, with branches now serving regions beyond Illawarra including Sydney, Newcastle and the Hunter, Melbourne and the ACT. Regarded as the third-largest building society in Australia, IMB combines a wealth of experience with a member-first mindset to deliver better value banking. It delivers customer support at an onshore contact centre.

IMB Personal & Car Loans

IMB offers both secured and unsecured personal loans for a number of uses from $2,000 to $75,000 depending on the loan. These uses include:

  • Holidays

  • Consolidating debts

  • Home improvements

  • Marriage

  • Unexpected expenses

Rates
Features
Fees
Other
Lender
FixedSecuredN/AN/AMore details

Secured Personal Loan

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    FixedUnsecuredN/AN/AMore details

    Unsecured Personal Loan

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      VariableUnsecuredN/AN/AMore details

      Personal Line of Credit

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        • Interest rates start at 14.95% and could be as high as 27.95% based on your personal circumstances and loan term
        • Australian residents and citizens only
        • Personal Loans from $5,000 to $25,000, with loan terms ranging from 24 - 48 months
        • Terms, Conditions and Lending Criteria apply

        More details
        Important Information and Comparison Rate Warning

        All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

        The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates are for unsecured personal loans only for the relevant amounts and terms. The comparison rates for car loans and secured personal loans are for secured loans unless indicated otherwise. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

        Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of April 26, 2024. View disclaimer.

        Secured Personal Loan

        IMB’s secured personal loan offering allows customers to borrow up to $60,000 across a one to five-year term. Given this loan is secured, IMB allows customers to put up an asset such as a new or used vehicle as a guarantee to borrow for a range of purposes.

        The main benefit of a secured loan is that the interest rate could be a lot more competitive than unsecured finance. The drawback is, however, that the loan is tied to an asset and there could be more restrictions as to how you use the loan.

        Unsecured Personal Loan

        IMB’s unsecured personal loan offering allows customers to borrow up to $30,000 without requiring an asset as a guarantee. Loan terms for unsecured personal loans range from one to five-years.

        The main benefit of an unsecured loan is that it’s not tied to an asset and can be more flexible with how you use the loan. However the drawback is unsecured loans often attract higher interest rates.

        See Also: Debt Consolidation Explained

        New Car Loan

        IMB offers customers new car finance up to $75,000 across a loan term of one to seven-years. In order to qualify for finance, the car that is intended to be purchased must be no more than two years old. Terms are available from one to seven years, and there are no penalties for early-payouts.

        Car Buying Service

        Emerging as a popular option when car shopping, a car buying service essentially removes the legwork of going around to dealerships. Through IMB you can enlist the help of a car buying service, using National Car Search Australia. This means through IMB you can secure a car loan and organise a hassle-free car search and delivery in one spot.

        The cost of the service is usually baked-in to the final sticker price, however, as car buying services can access fleet pricing and it’s their job to negotiate, the cost savings could be worth it.

        Rates
        Features
        Fees
        Other
        Lender
        Important Information and Comparison Rate Warning

        All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

        The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

        Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of . View disclaimer.

        IMB Wedding Package

        A unique offering from IMB, this package allows customers to bundle a secured or unsecured personal loan, an Everyday Unlimited Account and a Reward Saver Account - two other banking products offered by IMB. This package lets customers take advantage of lower fees and convenient access to funds to help plan their special day.

        Read more: Different types of personal loans explained

        IMB Personal & Car Loan Features

        Flexible loan amounts

        IMB offers customers the flexibility of financing an amount to cater to their needs, from $2,000 to $75,000.

        Fee-free additional repayments

        Customers looking to get ahead of their loan by making additional repayments will not be charged across any of IMB’s personal loans. This can help save total interest paid over the life of the loan.

        Extra Payment Calculator

        No monthly fees

        IMB personal and car loan customers won’t be charged monthly account keeping fees.

        Insurance options

        Loan repayment insurance can be added onto IMB personal loans to ensure customers are protected if they are unable to make repayments. This is an optional extra on all of IMB personal loan products.

        Am I eligible?

        To be eligible for any IMB personal loan, the following requirements must be met:

        • Applicants must be over the age of 18 years.

        • Applicants must have a monthly income.

        • Applicants must be an Australian citizen or permanent resident.

        • Applicants must have good credit history.

        • Applicants must must use the loan for personal use only.

        What do I need to provide to receive an IMB personal or car loan?

        To obtain an IMB personal loan, you may need to supply the following information and documents as part of your personal loan application:

        • Your personal details including name, address and date of birth.

        • A drivers licence or passport details.

        • Proof of your address - for example, a utility bill.

        • Proof of your income in the form of payslips or bank statements.

        • Details about your day-to-day expenses, and any other debts.

        Image by Bayley Clark via Unsplash