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Keep more dollars in your pocket to fuel life's big adventures with the variable car loan that gives you a great low rate, unlimited extra repayments and redraws, no application fee and doesn't charge any ongoing fees. Now's the time to buy your first set of wheels or upgrade your style to something newer, safer or more economical².
A car loan with plenty of benefits.
Options that work for youChoose between a 6 month³ to 6 year loan + how often you want to make repayments - your loan, your choice.
No on-going feesPay off your loan faster with no monthly service fees or any on-going fees⁴.
Fee-free redrawUnlimited additional repayments and redraws on variable loans, 100% fee-free⁴. Yes please!
Up to $50kBorrow from $5,000 to $50,000 without needing to use an asset like a house or car as collateral.
No application feeNo upfront application fee for a limited time means more dollars in your pocket - happy days!
Same day approvalsGet your money the same day when your loan contract is electronically accepted and signed before 1pm AEST on business days⁷.
|Loan amount :||$5,000 - $50,000|
|Loan term :||6 months - 6 years|
|Repayment type :||Principal and interest|
|Repayment frequency :||Weekly, Fortnightly, Monthly|
|Application fee :||$0 (for a limited time. Save $100)|
|Monthly fee :||$0|
|Extra repayments fee :||$0|
|Top up available :||Yes|
|Redraw available :||Yes|
|Arrears administration fee :||$10 (for any overdue payments that we need to follow up on)|
|Trace fee :||$20 per search (if we ever need to help you recover money you've accidently sent to the wrong person)|
|Break fee :||Yes (at cost)|
Read our complete Fees and charges
Step 1: Join the Hive
Membership eligibility applies. Click here for more info. If you're considered a betterer, simply download the Hiver app and register... it only takes 3 minutes.
Step 2: Apply in 15 mins!
Once you've joined Hiver, login to internet banking and complete the online application.
Make sure you've got:
- Your current Australian Drivers Licence
- Info about how much you earn and own
- Info about how much you spend and owe
Step 3: Get an outcome in 30 mins!⁵
In most cases we'll let you know the outcome of your application within 30 minutes. If all looks good, you'll need to provide proof of income. Once we’ve verified your income + what you spend and owe, we'll send your loan contract electronically for review, acceptance and eSignature. Easy!
To be conditionally approved for an All Purpose Personal Loan, you’ll need to tick all the following boxes:
- A single borrower – no joint applications.
- A PAYG income.
- Permanent full-time or part-time employment.
- Employed at the same job for over six months.
- A good credit score.
- A loan purpose for anything except debt consolidation.
- No previous loan defaults.
- Incomings that cover what you spend and owe.
- Accurately enter all details about your spending and debt.
To take out a Hiver personal loan, you'll need to:
- Be a member of Hiver. Membership eligibility applies. Click here for more information.
- Apply as a single applicant
- Have a regular income (PAYG)
Are you a betterer interested in joining the Hive?
Joining is free, easy and only takes 3 minutes!
With a fixed rate, the interest rate stays the same for the entire length of your loan, so your loan repayment amount will stay the same too. This provides you with more certainty because you know your repayments will not change.
A variable rate on the other hand could go up or down throughout your loan period which means your minimum repayment amount might change. A variable rate loan also gives you access to more flexible features like making extra repayments so you can pay down your loan faster and a redraw facility, so if you ever need to access extra funds, you can redraw any extra payment amounts you’ve made on your loan.
A secured personal loan means that you use an asset you own (like a car or a house) as security for the loan. In the unlikely case that you're unable to pay back the loan, the bank would be able to recoup the costs from the security that you used as collateral.
An unsecured loan means you don't need to use an asset as security. An unsecured loan often has stricter lending criteria to make sure you can afford to pay back the loan, but it allows eligible borrowers far more flexibility
Debt consolidation can be a great way to get on top of your finances by simplifying multiple debts like car loans, credit cards or store cards into one personal loan. So instead of juggling multiple loans and repayments, you end up with one easy to manage loan and one regular repayment date. Plus, you can save a bundle on interest too.
Ready to get on top of things? Start saving with a debt consolidation personal loan today.
A comparison rate is there to help you identify the cost of the loan more accurately and make it easier to compare products. The rate is an estimate of how much a loan could cost over the loan length when you combine interest and the ongoing fees and charges. It's important to look at the comparison rates to avoid any potential surprises in the future.
You can choose whether you'd like to make repayments monthly, fortnightly or weekly. Whatever suits you best.
Your repayment amount is calculated based on the length of your loan and the frequency you choose to pay it back as well as the interest rate.
With Hiver's personal loan you can borrow between $4,000 and $50,000 with flexible loan terms from 6 months to 6 years.
With Hiver’s car loan you can borrow between $5,000 and $50,000 with flexible loan terms from 6 months to 6 years.
It takes around 10-15 minutes to complete your online application and in most cases you'll be notified of the outcome within 30 minutes (on week days). We don't muck around!
If your application looks good, we'll ask you to provide proof of your income by sending us your last two payslips. If everything checks out, we'll send you a letter of offer contract to digitally accept. Once you accept, the money will hit your bank account on the same day (if approved before 1pm Mon-Fri). Outside of these hours, funds will be transferred within 1 business day.
If you chose a variable interest personal loan, you can definitely make extra repayments at any time 100% fee-free. Making additional repayments on a fixed rate loan may result in a break cost being charged.
Our variable interest personal loan comes with unlimited fee free redraw so you can withdraw any extra repayments that you've made on your loan at any time. Just make sure you stay ahead of your loan repayments by at least one payment to avoid any unwanted fees.
Hiver will automatically set up your repayment for you from your Everyday account at the time of loan settlement. If you'd like to remove the automatic repayment from your Everyday account, please send us an in-app message or an email to [email protected]
There are also many other easy ways to make loan repayments. You can simply;
If you're experiencing financial difficulties or unable to make your repayments for another reason, please get in touch as soon as possible to find out how we can help.
Our support team can provide you with options which could include flexibility with repayments, time extensions and other hardship solutions depending on your personal circumstances.
The best way to get in touch is via in-app message or to send an email to [email protected].
If you'd like to increase the amount on your loan, you'll need to submit an application for a new loan. Our lending specialists will then review your current situation and let you know the outcome and your options.
Tips to keep on top of your loan.
Save $ and get the most from your Hiver loan with our helpful tips on;
- Making your repayments easy-as.
- Accessing extra cash with Hiver redraw.
- Smashing your loan down with extra repayments.
- Paying off your loan faster by increasing your loan repayments.
- How to increase your loan amount if you need to.
- What to do if you're going through some tough times and need a little extra help making your repayments.