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IMB Personal Loan

IMB Personal Loan

1.6 from 27 reviews

See the Best Personal Loans in 2019 as rated by Australians on ProductReview.com.au.

Incompetent phone staff

Short of funds in Albury, money in IMB .. rang staff, set up payID, transfer by OSKO
silly me, thinking "external payments" would be opposite of internal ... ie IMB to IMB ... and I wo7ld be directed to osko from there ..
In hindsight, I should have noticed" OSKO payment at the bottom of the list ...
The phone staff just needed to say, " OSKO payments are last on the list .. hit that button only"₩

Customer Service

Horrible customer service and worst loan procedure ever!

This is a horrible bank service. Apply for little personal loan and end up with millions +1 documents. Requesting for all kind of unnecessary documents and reject without a single explanation. Keep harassing for more and more and more documents through 100 phone call a day. Crap and scaling service. Warning to anyone plan to apply through them

Shoddy service, save your time and go elsewhere.

I applied for a personal loan through IMB a couple of months back. Pre-approved. Gave them all of the information they requested for loan approval. They requested more, so I gave that. They requested even more, so I gave that too. Then I gave again when they requested even more. Their requests included things like group certificates for jobs I no longer have and details on my non-existent partner that they somehow seem to think exists. Their final two requests were for information that I'd already given them - so I gave it to them again. Then they declined me because I don't meet policy. I have tried to find out on several occasions now - both by email and phone - what "not meeting policy" means but no one can tell me more than "it means you don't meet our lending requirement policy". Mind you, I have a six figure salary, a very good credit rating, and more savings than I wanted to actually lend from the bank, but "not meeting policy" is all I have to work with to improve getting a loan approved with someone else - anyone else - in future. A little bit of clarity and transparency and not throwing 30+ years of customer loyalty back in my face would be nice!

Reeling in customers with low interest rates and then screw them up.

I took home loan from IMB by noticing the low interest rates. They made a lot of mistakes in the contract process with interest rates higher than agreed upon. We had to send the contract back and forth to fix this . I have noticed from the reviews that others have experienced the same issue. It could go unnoticed if you don't read the contract carefully or don't work out the numbers yourself. Sounds like a dodgy way of screwing customers. When I joined ,the interest rate was around 3.84%,then as soon as contract signed the interest rate gone up by .3% then it continues and within a 15 month period the interest rate is currently sitting up at 4.3% and I notice they are still issuing loan for new customers at 3.84 % now. I am thinking of refinancing my loan since I don't trust these people anymore.

A sloth is quicker than their application process.

Pre-approval is such a waste of time especially when they are asking you for all the documents like you were applying for the loan itself. I can understand if you need to ensure that the person applying for the loan is the legitimate person but asking for group certificate, pay slip, bank statements etc..... is irrelevant as its a pre-approval process.
IMB even dissect your bank statement to uncover any other outgoings that you have. I wouldn't be surprised if they would be asking what brand of toilet paper that I use. The pre-approval process is still going and its been 2weeks so far. I think I might as well watch David Attenborough's documentary on Sloth tonight to alleviate the painstaking IMB loan application!

Here is a hint IMB - You should let your customers know by: "Your loan application have been pre-approve, please provide these documents for final approval if you want to proceed with the loan"

Its that easy!

Complete joke.

First of all, the amount of hidden rates that they do not tell you about upfront is ridiculous, so don't trust their deceptive payback calculator. It actually ended up costing the same as all their competition in the end. The amount of completely unnecessary details and documents that they wanted for a secured car loan was unreasonable. We were 'provisionally approved' before they even told us about the extra rates. We ended up needing a loan quickly as we had a lowered price secured with a dealership, but the amount of excuses and need for more documents almost made us lose the deal. We ended up going with another place that accepted the loan within one hour and secured our car deal, no thanks to this shoddy IMB place.

The circus is in town they haven't got a clue

Seriously haven't got got a clue on car finance,
Trying to speak to an actual person is almost impossible the long wait on phone is not a free phone number.

They told myself and the dealership I was provisionally approved pending my documents match what I told them.
Guess what NOT approved, my docs match exactly to what they want, then cam the excuses.....

Chasing these cowboys is a joke, I'm now been approved elsewhere with no hassle and a direct phone number to the person I am dealing with.

According to a more informed lender is everyone is pre approved pending an actual application.

Lacks customer service

They've got to be the worst in customer service! A simple, straight forward application was recently rejected- after 8 pre approvals from all other banks. However their interest was a lil lower and so we decided to apply to them. Guess what- 10hrs and they rejected it. On calling them to understand why, the lady on the phone explains they do not discuss these with the clients and we have to wait for a call back as rejected clients. Are you serious!? She was right- they didn't bother calling me back to explain why. We worked it out with the broker that IMB use an automated computer service that rejects loans with a "actual person" looking into them. Hence they do not give you a call back, because really they are in fact lazy and unprofessional.


Tried applying for a personal loan - the process took OVER TWO WEEKS!! I ended up applying to RACV instead (who were awesome). They didn't care that I already had a deposit on a car and that I wanted a quick process, they delayed it every day to call me and ask stupid questions and ask for forms that I had already submitted.
0/10, horrible experience.


You please held me loans .because want money payment bill Internet an gas and phone thank you ......thank you please

Extra money missing through direct debit??

Recently took a car loan out. My bank account has been hit with double direct debit payments every fortnight instead of one.
IMB takes no responsibility and is unwilling to assist with the situation making me deal with my bank. My bank says IMB has definitely been receiving the money and registered 2 direct debits. IMB continue denying that they are receiving it and are offering me no assistance. The guy i spoke to from IMB now refusing to talk to me anymore saying this is an issue with my bank nothing they can do. My statement shows the money is going to IMB and the direct debit is going to the same user ID.
Terrible service. Will never use again.

****Warning***Do not use IMB Bank *** warning ***

My wife and I applied for a loan and it was a complete and utter disaster and a waste of time. They wanted a never ending amount of paperwork of which they did not understand. They wasted our time and because of their inability or willingness to to accept the information and they declined the loan.
We have plenty of surplus income and the next bank we went to approved the loan. The problem is we now have a declined loan on our record.
They simply got it wrong and we or you will pay the price. I spoke to them to see if they could rectify but they were not interested.
I personally think they are incompetent.
Don't say you weren't warned.

Just wanted to try someone other than the big banks and so far i'm not impressed.

I applied for a car loan after reading they were award winning and was referred to them by the Canstar website. I applied through IMB because they advertise you will be cruising around sooner with a fast application process in additional to their so-called focus on customers.

I had a callback once I applied and a message was left to call a 1300 number, I called this number over and over (right up till 8pm when they close) and after holding 2 mins you get diverted to a messagebank... Left a message, sent an email (as their voicemail suggested) and I haven't heard back in a day :(

Not a good start to a new relationship, I am unsure if I can trust a company that you cannot contact when needed.

Waste of time

3 days waited delay after delay for preapproval, did enquiry over my credit file and wanted to put car loan under my wife and my name when I am supposed to be the main loan bearer, should have told me all this before when I put my time and effort in collating all information for them including my payslip, bonus evidence letter, govt benefit letter and yet couldn't proceed. Extremely upset.

Poor customer service and constant mistakes by made by staff

Constant dramas with this bank, I refinanced my home loan with IMB for the low interest rate.
It took 4 months from the time I was pre approved until settlement. Constant mistakes made by staff and very rude customer service. Contract had to be sent numerous times to rectify mistakes, one of which was the interest rate which had to be changed twice on the contract from the agreed upon rate, then when it settled the rate came through at a full interest rate higher then the contract rate. They fixed the rate but didn't change the monthly repayment figure. If I knew what I know now about IMB I would have gone with another bank. Unpleasant experience and unprofessional service.

1 comment
It just keeps getting better, I just received a call from IMB saying they are increasing my rate by 0.3% something they have known for weeks but withheld the information until the loan was finalised. Steer clear of this bank

Bad bank

IMB don't have many branches and don't do direct - IMB bank refuses to honor a promotion where you sign up to a bank account & you get rewarded with $50. Didn't bother to send a card or mail, just unsecured email - bit dodgy. They don't care about existing or potential customers, lot of unnecessary charges just for simple stuff.

Kickback own Terms and not offer $50 bonus promotion

Have signed up a promotion from IMB when you open a new saving account via a specific IMB website page and award you a $50. However, I heard the bank have change their terms due to too many signups that by tweaking their minor details that almost no one eligible for the offer.

It is just another typical inappropriate attitude from bank we are dealing with. My personal details given to them and now account open with reward nothing. Bad business ethics. I am the one who apply before they have change the term so it is definitely not the right thing to do by refusing the offer from new changed conditions.

Refused to honour a promotion

IMB bank refuses to honour a promotion where you sign up to a bank account and you get rewarded with $50. I wonder what this reveals about IMB as a bank. They don't care about existing or potential customers. They have just lost a customer forever and I will be cautioning anyone who considers to bank with them in the future.

signed up for an account, never received card in the mail, internet banking not secure


Sign up was fast and accepted all my ID straight away.


Internet banking security is a joke. It wont allow special characters as it's 'not secure', enter only letters and numbers.... ?

Despite successfully opening an account I have received no card in the mail and no notifications from the bank regarding my sign up despite the original success email and internet banking login details which works.

$6 a month account keeping fees for your account, even though they dont send you a card to use it.

Avoid this shonky company

Lied about promotion

These IMBeciles lied about a free $50 for opening an account. Lost my business forever. Bank with the big 4!

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IMB Personal Loan
CategoryPersonal Loans
Contact Number 133 462
24-Hour Phone Contact No
Online Live Chat No
Interest Ratefrom 3.36% p.a.
Comparison Rate from 3.39% p.a.
Repayment FrequencyFortnightly, Monthly and Weekly
Loan Term1 to 30 years
Rate TypeVariable
Redraw AvailableYes

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