Rating based on 34 reviews

Hume Bank – Debt consolidation loans

Updated

  • Low-interest starting from 12.50%
  • Debt consolidation loans up to $50,000
  • Repayment up to 7 years

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Hume Bank homepage

Author Hume Bank. Screenshot of Hume Bank website. [Accessed June 10, 2018]

About Hume Bank

Highly simplified and pleasing in its graphics and tone, Hume Bank’s online presence is a first class offering to consumers.

Backed by substantial holdings and with a history spanning many decades, its building society roots still shine through.

In this regard, its consolidation loan offers are no exception. A favoured port of call for Australians for a variety of banking products, applying for a consolidation loan online is pleasingly uncomplicated with Hume Bank.

Smart and simple

Although having the potential to present online as a detailed and ultimately overwhelming presence, the company has done itself proud with its online site as it is a scroll-down, eminently pleasant and breezy site.

Nothing but a click away

That said, all possible details on all possible products are but a click away. Any existing client can log in and navigate as a  recognised customer. Any prospective new client can access all of the information needed to apply for a short-term loan to consolidate debt too.

Once a building society

One of the last to leave the title of “building society” behind, so committed to its roots was the entity, it asked for the blessing of its clients circa 2014 and became known as Hume Bank.

It is now perfectly poised to enter the 21st century as a stable and reputable player. Citizens would do well to peruse the various options on a consolidation loan on offer from this company.

What Hume Bank can offer you

Starting at $2,000 as a minimum loan, Hume Bank offers a really elementary and brisk online loan application process.

With repayment periods ranging from weekly through fortnightly to monthly, a debit deduction from a bank account is preferred. Payment terms range from 1 to 7 years,

No fees for paying up early

There are no penalties for early settlement of a personal loan and there is also flexibility on rescheduling in the Hume Bank offer.

There are substantial differences between the loan options and prospective borrowers would do well to peruse the comparative charts provided with care.

The best rate on offer - and there are only fixed-rate options, no variable rate offer - start at 5.50% against 5.67% up to a term of 5 years.

Secure your loan

This would be a consolidation loan secured by an existing term deposit. Next comes car loan with a rate of 6.95% against 7.13% within a term of up to 5 years when a loan is secured with a vehicle not older than 5 years.

Longer-term loans (from 7 - 10 years) carry a rate of  8.95% against 9.13% for loans secured by a vehicle not older than 5 years and 7.50% against 7.68% when secured by a term deposit.

Simple and concise

Wholly transparent, simple and concise in its terms, Hume bank will grant consolidation loans to any Australian over 18 with appropriate credit and income.

Hume Bank Product Details

  • Loan Type Debt consolidation loans
  • Interest Rate from 12.50%
  • Loan Amount up to $50,000
  • Repayment 12 months to 7 years
  • Decision 2 days

Hume Bank stands out as a polished, transformed option

Smart and savvy in its presentation, Hume Bank is a potentially valuable and attractive option for many Australians.

Talk to a consultant or apply online

Unusually and most welcome, Hume Bank have a pre-application pop-up that allows consumers to choose between an online personal loan application, a call to a consultant, or simply clicking through to more detailed information.

The last option is typical of their stance, as it allows a potential client to look at things in detail in the comfort of their own home.

With regard to loan terms you can typically choose to repay the debt consolidation loan in anything from 12 months to 7 years depending on loan amount and repayment ability.

Clients are best advised to simply confirm the best term for their circumstances with a consultant prior to submitting an application.

One of the best options

Hume Bank presents as a simple and eminently understandable option when applying for a consolidation loan.

Although not alone in its successful rendering of services online, it certainly is one of the most polished and user-friendly.  

Having bad credit and lots of debt can be very stressful and cause you many sleepless nights. Apply for one of our debt consolidation loans. One of our consultants will assess your current level of debt and present you with the possible solutions available to you.

Our service will offer a safe secure distribution of our money to your creditors or negotiate a settlement fee on your behalf. We can offer you legal protection from your creditors in the event that they want to seize your assets to reclaim the money that is owed to them.

Secured versus unsecured debt consolidation loans

If you have the ability to provide an item of collateral to secure your debt consolidation loan you will qualify for a much lower interest rate. The item of collateral can be a car that you own or your property.  An unsecured debt consolidation loan is not secured with your assets instead the agreement is based on the promise that you will repay the loan. This loan poses a higher level of risk for the lender so to compensate they usually charge a slightly higher interest rate.

A credit card is a perfect example of an unsecured loan and credit card debt is one of Australia’s biggest financial issues. A debt consolidation loan will allow you to pay off your credit card debt and any other debt that you may have quickly and easily.

The main problem with an unsecured debt consolidation loan is that they are very difficult to obtain as you need a very high credit score in order to qualify.

Customer Reviews & Testimonials

October 2018

Juggling multiple debts and payment dates had me in a flat spin. I never knew which account to pay and which one would have to wait a month. I had lenders breathing down my neck and I was afraid ...

Steve H
— Sydney —

February 2019

Hume Bank is the best! I was able to save so much money and time by applying for a reconsolidation loan and repay all my credit card debt. Soon I will be debt free and able to start saving for my...

Veronica D
— Perth —

May 2019

I would like to commend Stacey from Hume Bank on the excellent customer service that I received, she was so helpful and answered all my questions and helped put my mind at ease. My credit score w...

Mary S
— Maitland —

Hume Bank Contact Details

Contact Number

E-Mail

  • not available

Website

Physical Address

  • Cnr Victoria Cross Parade & Kelliher Avenue Wodonga Wodonga, VIC 3690 Australia
  • Get Directions

Opening Hours

  • Monday 09:00 – 17:00
  • Tuesday 09:00 – 17:00
  • Wednesday 09:00 – 17:00
  • Thursday 09:00 – 17:00
  • Friday 09:00 – 17:00
  • Saturday 09:30 – 12:30
  • Sunday – Closed