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Alex Bank

Alex Bank

3.3 from 4 reviews · View Statistics
See the Best Personal Loans in 2021 as rated by Australians on ProductReview.com.au.
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Reviews

3.3
4 reviews
  • Transparency
    2.7 (3)
  • Customer Service
    3.3 (3)
  • Loan TypeFixed Rate (1)
  • Application Process
    4.3 (3)
  • Timeliness
    3.7 (3)
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Amazing service fulfillment. Absolutely nailed it for me. Thanks

published

Amazing service fulfillment. Absolutely nailed it for me as an experience. No fuss, no nonsense, highly efficient and very effective. That is how to transact finance products for customers. Well done

Transparency
5/5
Customer Service
5/5
Alex Bank
Simon B.Alex Bank

What a review! Thanks so much Gary, glad your personal loan was easy and fast to organise.
Dee - Alex Team

Carolyn
CarolynCairns
  • 4 reviews
  • 2 likes

Never again

published

I have a perfect credit history and a long term, secure income, no debt except very low mortgage. I just got rejected for a 6K loan so not to touch secured savings which will now impact my credit score. Only reason I can think of is I have 4 kids (in shared care but no option for that). The advertise great rates but it seems just an illusion. I note others also say they advertise low rates and then either reject of hike the rate up. I've used Ratesetter (Plenti) before with no hassles, will use them in the future.

Transparency
1/5
Customer Service
1/5
Alex Bank
Simon B.Alex Bank

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0.0
(1,234)
Will D.
Will D.Greater Melbourne (Inner), VIC

You won't get the advertised rate but you can negotiate with them

published

I have an extremely good credit history - never missed a payment on any car loan, mortgage or credit card. Applied for the advertised rate of 5.49%, got offered 11% but negotiated down to 9%.

Transparency
2/5
Customer Service
4/5
Alex Bank
Simon B.Alex Bank
Hugo2021
Hugo2021Sydney, NSW

Product is to ambiguous

published

Beware that even if your credit score is ‘excellent’ you may not be able to achieve a low interest rate of 6.95%. Instead you will be offered a rate comparable to other lenders.

Alex Bank
Simon B.Alex Bank

Hi Hugo, thanks for your review we value your feedback. All of our rates are based off risk based pricing and take into account many different factors, so it is difficult to comment on your particular circumstances.

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Questions & Answers

Kathleen E.
Kathleen E.asked

Is it normal to be asked to log in to my internet banking and to allow access to them to obtain statements rather than me sending the statements through my self

1 answer
Alex Bank
Simon B.Alex Bank

Hi Kathleen, it certainly is normal with 200 financial services providers in Australia and New Zealand making use of this secure service. This allows Alex Bank to make fast decisions for our customers. We work with a partner, bankstatements.com.au which is owned by Illion. The service relies on you providing your online banking credentials. Illion treat the security and protection of these credentials with the highest degree of importance. The service is audited annually by leading IT security companies. Your credentials are never stored and when being used to connect to the bank they are encrypted with bank level encryption of up to 256 bit. Immediately once the connection to the bank is made your credentials are securely discarded. Illion provide a read only service to Alex Bank for the retrieving of data and do not make any transactions. You can read more here: https://www.bankstatements.com.au/about or FAQs on our website.

If however you are uncomfortable doing this, you can email or speak to one of our friendly team and they will talk you through some alternative options.

Get an answer from our members and Alex Bank representatives

Details

CategoryPersonal Loans
Interest Rate6.95% p.a.
Comparison Rate 6.95% p.a.
Application Fee $0.00
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