Alex Bank

Alex Bank: Australian digital banking with loans and deposits

Alex Bank is a 100% digital banking institution from Australia that presents itself as the country's most awarded new bank. Its proposition focuses on simple products, online applications and human support from teams based in Brisbane, Sydney and Melbourne. The institution operates under Australian financial services and credit licence 510805.

Personal and green loans

Alex Bank's unsecured personal loan is designed for quick applications and fast approvals. The personalised fixed and comparison rate starts from 9.49% p.a., with flexible repayment terms from 6 months to 7 years, no upfront, ongoing or early repayment fees, and an application decision within one business day. The green loan shares the same conditions and is intended exclusively for home solar systems, including panels, batteries and installation.

Car and electric vehicle financing

For the purchase of new or used cars from dealerships, Alex Bank offers a secured loan. Personalised fixed interest rates start from 8.49% p.a., with a comparison rate from 8.91% p.a. The amount financed ranges from AUD 10,000 to AUD 100,000, with terms from 1 to 7 years and a one-off establishment fee of AUD 295. The electric vehicle variant maintains the same conditions and requires the engine to be fully electric, with hybrids not accepted.

Savings and term deposits

The term deposit offers a fixed rate of 5.25% p.a. for a 12-month term with interest paid at maturity, and the option to choose from different terms. The online application takes an average of 3 minutes. This product was recognised as Term Deposit of the Year by WeMoney in 2023, 2024 and 2025. The savings account, meanwhile, offers a variable rate of 4.50% p.a., with no minimum deposit or complex bonus conditions, and no monthly or transaction fees.

Operational approach and support

Alex Bank's platform uses current technologies to streamline applications and approvals, while maintaining a human team in Brisbane, Sydney and Melbourne. The institution describes its products as simple, with clear forms and paperless processes for personal loans. Its recognitions include awards for personal loans and term deposits.

Available products

• Unsecured personal loan
• Green loan for home solar systems
• Secured car loan
• Secured electric vehicle loan
• Term deposit
• Savings account