BSB 805 050

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BSB 805 050

Secured Personal Loan

A flexible, secured personal loan that offers a competitive fixed rate for the life of your loan

Loan Size

$2,000+

Loan Terms

Up to 7 years

Extra Repayments

Yes

Redraw Available

Yes

Our personal loans are a fast and convenient way to get the things you want or to pay for the things you need. Enjoy flexibility, low interest rates and many other great features.

A big life change in a small package

Our Personal Loan option offers a fixed rate for the life of your loan, flexible repayments, competitive interest rates and a choice of loan security options. You can use our personal loan for almost any purpose; from buying a new car to refinancing an existing loan and debt consolidation.

We’re here to help

As a member owned organisation, our first priority is to help you. We continually focus on providing high levels of personalised service and value for money products – such as our Personal Loans– there to help you make those life-changing purchases.

We offer:

  • No monthly account fees
  • Competitive interest rates fixed for the life of the loan
  • Flexible repayment frequency - pay weekly, fortnightly or monthly
  • Loan terms up to 7 years
  • No penalty for additional repayments or early payout
  • Redraw facility against your extra repayments4
  • Loans from $2,000
  • Online application
  • Fast pre-approval valid for 60 days

You can apply for a Secured Personal Loan online, over the phone by calling 13 11 82 or by visiting your nearest branch.

Secured Personal Loans

Product Name Tier Rate Comparison Rate
Discounted Personal Loan (Cars 3 years or less)1,2 $30,000 - $100,000 6.64% p.a. 6.99% p.a.*
$20,000 - $29,999 7.64% p.a. 7.99% p.a.*
Discounted Personal Loan2 $10,000 - $100,000 8.42% p.a. 8.78% p.a.*
Secured Personal Loan $2,000 - $100,000 11.20% p.a. 12.96% p.a.^

Unsecured Personal Loans

Product Name Tier Rate Comparison Rate
Unsecured Personal Loan $2,000 - $100,000 13.99% p.a. 15.78% p.a.#

Most popular questions...

More questions...

  • What do I need to do to apply for a Personal Loan?

    To apply for a Personal Loan you will need to provide us with the following:

    • 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
    • Driver’s licence number and expiry
  • If I’m looking for a car, can I get a loan approved before I find the car I want?

    Yes, we can conditionally approve a Personal Loan for you before you buy. You just need to submit an application form, letting us know how much you want to borrow and we’ll review your application. We offer 60 day pre-approval to give you time to find the car that is right for you.

    You can apply for a Personal Loan online, by calling 13 11 82, or by visiting your nearest branch.

  • Do I have to be a People's Choice Credit Union member to apply for a car loan?

    No, anyone can apply. If you're not currently a member, you'll need to become a member before the car loan can be finalised. And have no fear, it’s a quick and simple process.

  • How much can I borrow to purchase a car?

    Our Personal Loans start from as little as $2,000 and our Discounted Personal Loans start from as little as $10,000. The maximum loan is based on the amount that you can afford to repay.

  • What can I use to secure my Personal Loan?

    Depending on the Personal Loan you choose, you can use a new or used car, motorbike, caravan or a term deposit / savings.

  • How often can I make repayments?

    You can choose to make your repayments weekly, fortnightly or monthly.

    You can even make additional payments without penalty at any time via Phone Banking, Internet Banking, or at any of our branches and agencies.

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Product Summary

What do I get?

Interest Rate

Comparison Rate

Available Loan Size

Loan Term

Rate Type

Rate Lock Option

Extra Repayments

Redraw Facility

Repayment Frequency

Application Fee

Ongoing Fees

Termination / Early Repayment Fees

Loan Protection

Acceptable Security

Loan Purpose

 

A flexible, secured personal loan that offers a competitive fixed rate for the life of your loan

What do I get?

A flexible loan with no ongoing fees and which is available for almost any purpose

Interest Rate

11.2% p.a.

Comparison Rate

12.96% p.a.^

Available Loan Size

$2,000+

Loan Term

Up to 7 years

Rate Type

Fixed

Rate Lock Option

0.15% fee applies3

Extra Repayments

Redraw Facility

Repayment Frequency

Weekly, Fortnightly or Monthly

Application Fee

$250

Ongoing Fees

Termination / Early Repayment Fees

Loan Protection
Acceptable Security

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

Loan Purpose

Any worthwhile loan purpose

A personal loan to help you buy the right car or refinance an existing car loan at a low rate

What do I get?

Low flexible discounted rate, no ongoing fees, available specifically for car loans using the same motor vehicle as security

Interest Rate

6.64% p.a. 1,2

Comparison Rate

6.99% p.a.*

Available Loan Size

$30,000+, cars 3 years or less1~,
Higher rates apply for lower loan amounts

Loan Term

Up to 10 years

Rate Type

Fixed for the first 5 years, then reverts to variable rate2

Rate Lock Option

0.15% fee applies3

Extra Repayments

Redraw Facility

Repayment Frequency

Weekly, Fortnightly or Monthly

Application Fee

$250

Ongoing Fees

Termination / Early Repayment Fees

Loan Protection
Acceptable Security

New Cars, or Cars aged 3 years or less

Loan Purpose

Purchase or refinance of  an external debt for New Cars, or Cars aged 3 years or less1

Remove

A low rate, secured personal loan that can be arranged to help you for almost any purpose

What do I get?

Low flexible discounted rate, no ongoing fees with lower rates available when using a motor vehicle as security

Interest Rate

8.42% p.a.

Comparison Rate

8.78% p.a.*

Available Loan Size

$10,000+
Lower rates available for higher loan amounts

Loan Term

Up to 10 years

Rate Type

Fixed for the first 5 years, then reverts to variable rate2

Rate Lock Option

0.15% fee applies3

Extra Repayments

Redraw Facility

Repayment Frequency

Weekly, Fortnightly or Monthly

Application Fee

$250

Ongoing Fees

Termination / Early Repayment Fees

Loan Protection
Acceptable Security

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

Different rates may apply depending on security and loan purpose

Loan Purpose

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

Different rates may apply depending on security and loan purpose

Remove

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

What do I get?

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

Interest Rate

13.99% p.a.

Comparison Rate

15.78% p.a.#

Available Loan Size

$2,000+

Loan Term

Up to 7 years

Rate Type

Fixed

Rate Lock Option

0.15% fee applies3

Extra Repayments

Redraw Facility

Repayment Frequency

Weekly, Fortnightly or Monthly

Application Fee

$250

Ongoing Fees

Termination / Early Repayment Fees

Loan Protection
Acceptable Security

N/A

Loan Purpose

Any worthwhile loan purpose

Remove

hi…

Thank you for your enquiry. Unfortunately we don’t have a branch in this area, so please call us on 13 11 82 to see how we can still help you.

How long will it take to pay back my loan?

Calculate how long it will take to pay back your loan by entering your loan amount, interest rate and repayment frequency (weekly, fortnightly or monthly).

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What will my repayments be?

Calculate your weekly, fortnightly or monthly Personal Loan Repayments by entering a loan amount, loan purpose, term and repayment frequency. This calculator will also show you the total cost of the loan and help you determine your borrowing power by entering your income, current expenses and loan information.

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Personal Loan Calculators

Our range of Personal Loan calculators can help you plan your future.

All Personal Loan Calculators

1 More than 50% of the base loan amount (total loan amount less fees) must be to purchase or refinance an external debt for a vehicle aged 3 years or less, which must secure loan.
2 Fixed for 5 years then reverts to a variable rate of 11.55% p.a. for remaining term.
3 Rate Lock fee is 0.15% of the total loan amount and is valid for 60 days from the date of application.
4 Minimum redraw amount is $250 and redraws are free if performed online or at a cost of $40 for an in-branch Staff Assisted Redraw. 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 upon 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 a secured loan of $10,000 with monthly repayments over a term of 3 years.
# Comparison rates are based on an unsecured loan of $10,000 with monthly repayments over a term of 3 years.  
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.

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