BSB 805 050

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BSB 805 050

Personal Loans

Whether you want to buy a new car, renovate your home, refinance an existing loan or dream holiday planning, we can help you get the personal loan that’s right for you with competitive interest rates, fast pre-approval and no monthly fees.

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Compare Our Products

Product Summary

Interest Rate

Comparison Rate

What do I get?

Available Loan Size

Loan Term

Rate Type

Extra Repayments

Redraw Facility

Repayment Frequency

Application Fee

Ongoing Fees

Termination / Early Repayment Fees

Acceptable Security

Loan Purpose

 

A personal loan to help you buy or refinance a car at a low rate

Interest Rate

 4.65% p.a.1

 

Comparison Rate

4.99% p.a.*

What do I get?

Low flexible discounted rate, no ongoing fees, available for purchasing a car or refinancing a car loan using the same motor vehicle as security.

Available Loan Size

$20,000+ lower loan amounts available, higher rates apply - refer to the Discounted Personal Loan.

Loan Term

Up to 10 years4

Rate Type

Fixed for the first 5 years, then reverts to standard variable rate(currently 11.55% p.a.)

Extra Repayments

Redraw Facility

5

Repayment Frequency

Weekly, Fortnightly or Monthly

Application Fee

$250

Ongoing Fees

Termination / Early Repayment Fees

Acceptable Security

Cars up to 2 years of age1

Loan Purpose

Purchase or refinance a car

Remove

Interest Rate

7.99% p.a.2

Comparison Rate

8.35% p.a.*

What do I get?

Low flexible discounted rate, when using a motor vehicle, motor cycle, or caravan as security and no ongoing fees

Available Loan Size

$10,000+

Loan Term

Up to 10 years4

Rate Type

Fixed for the first 5 years, then reverts to standard variable rate(currently 11.55% p.a.)

Extra Repayments

Redraw Facility

5

Repayment Frequency

Weekly, Fortnightly or Monthly

Application Fee

$250

Ongoing Fees

Termination / Early Repayment Fees

Acceptable Security

New Cars, Used Cars, Motorbike or Caravan or Term Deposit/Savings

Loan Purpose

New Cars, Used Cars, Motorbike, Caravan, Travel, Boat, Refinance, Debt Consolidation or any other worthwhile purpose

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A low rate personal loan with a fixed rate for the life of your loan and the flexibility of no required security

Interest Rate

8.99% p.a.3

Comparison Rate

10.73% p.a.#

What do I get?

Flexible low rate unsecured loan with no ongoing fees, which is available for almost any purpose

Available Loan Size

$2,000+

Loan Term

Up to 7 years

Rate Type

Fixed

Extra Repayments

Redraw Facility

5

Repayment Frequency

Weekly, Fortnightly or Monthly

Application Fee

$250

Ongoing Fees

Termination / Early Repayment Fees

Acceptable Security

N/A

Loan Purpose

Any worthwhile loan purpose

Remove

An unsecured flexible loan with no ongoing fees, which is available for almost any purpose

Interest Rate

13.99% p.a.3

Comparison Rate

15.78% p.a.#

What do I get?

A personal loan with a fixed rate for the life of your loan and the flexibility of no required security

Available Loan Size

$2,000+

Loan Term

Up to 7 years4

Rate Type

Fixed

Extra Repayments

Redraw Facility

5

Repayment Frequency

Weekly, Fortnightly or Monthly

Application Fee

$250

Ongoing Fees

Termination / Early Repayment Fees

Acceptable Security

N/A

Loan Purpose

Any worthwhile loan purpose

Remove

What you need to know

When you apply for a loan, please have this information handy:

  • Income details – pay slips, child support, pensions, overtime, allowances, rental income, commissions etc.
  • Expense details – utility bills, rent, board, loan repayments, credit and store cards, maintenance, lease payments etc.
  • Asset information – cash savings, value of motor vehicles, shares, bonds, property, furnishings etc.
  • Residential and employment details – for the last three years.
  • Australian driver’s licence – number and expiry.

Types of personal loans

Secured personal loans

A secured personal loan lets you give an asset (like a car or motorcycle) as security for repayment of your loan. This means that if you default on your loan because you can’t meet your obligations such as repaying your loan, the lender may be able to take possession of the security.

Unsecured personal loans

An unsecured personal loan is a loan where you do not provide security over an asset. This type of loan is popular with people who want to borrow money to go on a holiday, buy a used car, or need to purchase several different things.

Fixed rate personal loans

If you take out a loan with a fixed interest rate, your repayments won't change for the life of the loan. This lets you predict and plan how much will come out of your bank account each month. The downside is that if interest rates fall, you won’t benefit and your interest rates will stay where they are.

Variable rate personal loans

With a variable interest rate, your repayments will change when the interest rate changes. If interest rates go up, your repayments will unfortunately go up too. However, if interest rates drop, your repayments will likely go down as well. We offer a personal loan with a variable rate option, where interest is fixed for the first five years, then reverts to a standard variable rate for the rest of the life of the loan. This is our Discounted Personal Loan.

Most popular questions...

Personal Loan Calculators

Need to organise your finances to prepare for a loan? Take a look at our range of calculators below. Alternatively, get in touch with one of our Financial Planners.

See all financial calculators

How long will it take to pay back my loan?

Calculate how long it will take you to pay off your loan.

Loan term calculator

What will my repayments be?

Enter the loan details on the first page of our Personal Loan application and you can see the repayment amount at the top of the page. 

Repayment calculator

Related articles

What is a Personal Loan?

Personal loans. They’re loans to help people get what they want sooner.

Learn more



Secured vs Unsecured Personal Loans

If you’re researching personal loans, you’ve probably come across the terms secured and unsecured a few times. We break down the differences between these types of personal loans.

Learn more



1 Discounted Personal Loan (Car Loan) rate is subject to change at any time. Minimum loan amount $20,000; a $250 Application Fee applies. Minimum loan term is 12 months and maximum loan term is 10 years. No penalties apply for paying out early. A Discounted Personal Loan (Car Loan) may be used to purchase or refinance a car up to 2 years old from year of manufacture (currently from 2019) which must be used as security for the Car Loan. Other rates apply to other personal loan types. Examples: $20,000 borrowed for 5 years at 4.65% p.a. / 4.99% p.a. comparison rate has to be repaid back in 60 monthly instalments of $379 per month~. $20,000 borrowed for 3 years at 4.65% p.a. / 4.99% p.a. comparison rate has to be paid back in 36 monthly instalments of $604 per month~.

2 Discounted Personal Loan rate is subject to change at any time. Minimum loan amount $10,000; a $250 Application Fee applies. Minimum loan term is 12 months and maximum loan term is 10 years. No penalties apply for paying out early. Secured by a vehicle which is less than 7 years old (minimum security value of $5,000) or has a security value of $10,000 or more. As your Discounted Personal Loan interest rate will be based on various factors such as your loan criteria and our assessment of your application, a different rate and repayment amount may apply if the vehicle used as security is more than 7 years old and is less than the minimum security value of $10,000. We will confirm the specific details in your loan offer document. Other rates apply to other personal loan types. Examples: $10,000 borrowed for 5 years at 7.99% p.a. / 8.35% p.a. comparison rate has to be repaid back in 60 monthly instalments of $208 per month~. $10,000 borrowed for 3 years at 7.99% p.a. / 8.35% p.a. comparison rate has to be paid back in 36 monthly instalments of $321 per month~.

3 Unsecured Personal Loan rate is subject to change at any time. Minimum loan amount $2,000; a $250 Application Fee applies. Minimum loan term is 12 months and maximum loan term is 7 years. No penalties apply for paying out early. As your Unsecured Personal Loan interest rate will be based on various factors such as your loan criteria and our assessment of your application, a different rate may apply to your loan. We will confirm the specific details of your loan, including your actual interest rate and repayment amounts in your loan offer document. Maximum interest rate for an Unsecured Personal Loan product is 13.99%p.a. (comparison rate 15.78%p.a.). Other rates apply to other personal loan types. Examples: $2,000 borrowed for 3 years at 13.99% p.a. / 15.78% p.a. comparison rate has to be repaid back in 36 monthly instalments of $77 per month~. $2,000 borrowed for 1 year at 13.99% p.a. / 15.78% p.a. comparison rate has to be paid back in 12 monthly instalments of $202 per month~.

4 Fixed for 5 years then reverts to a variable rate for remaining term up to 10 years.

5 Minimum redraw amount is $250. Redraws are only available if sufficient extra repayments have been made against the loan account.

Terms, conditions, fees, charges and lending criteria apply and are available on application.

* Comparison rates are based on a secured loan of $30,000 with monthly repayments over a term of 5 years. 

# Comparison rates are based on an unsecured loan of $10,000 with monthly repayments over a term of 3 years.  

~The repayment amount is based on certain assumptions, should be regarded as indicative only, and is not a quote nor a pre-qualification for a personal loan.

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. 

The information above is general advice only and does not take into consideration your personal objectives, financial situation or needs (“your personal circumstances”). Please consider the relevant Disclosure Documents and your personal circumstances before making any decision to purchase the products. Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant.

People's Choice Credit Union, 50 Flinders Street, Adelaide 5000, a trading name of Australian Central Credit Union Ltd ABN 11 087 651 125 AFSL, Australian Credit Licence 244310.

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