Sydney Mutual Bank offers plenty of car loans, it’s just a matter of finding the one that suits your needs best. That’s where this page comes in, detailing each loan in an easy-to-read comparison table. Scroll down even further and you’ll find a nifty FAQ section answering all the q’s you may have on what this credit union has to offer.
|Product||Interest rate from||Comparison rate from*||Upfront fee|
New Car Loan (Up to 3 years old, Variable, Secured)
Sydney Mutual Bank
6.66% p.a.based on $30,000
Standard Personal Loan (Variable, Unsecured)
Sydney Mutual Bank
8.20% p.a.based on $30,000
† Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.
Look at Sydney Mutual Bank’s interest rates listed in the table above. Would you commit to an unchanging fixed rate loan, or rather pay interest at a rate subject to change during your loan term? Some like being charged at a set interest rate, as they know what repayments will be like for the life of the loan. Then again, potential rate drops can bring the bills down. It’s your choice!
Secured loans are cheaper, because you score a lower rate in return for tying your vehicle to the loan as collateral. If you don’t like the sound of that, Sydney Mutual Bank can offer you an unsecured loan, which involves paying more in interest but no extra paperwork.
Loan approvals vary between applicants, as they rely on a lot of personal information like credit history and salary. While we can’t tell you how much credit Sydney Mutual Bank can lend you, note that secured loans start at $10k, and unsecured loans from $2k.
Either weekly, fortnightly or monthly. You get to pick the repayment frequency you find most suitable.
Between 1 - 7 years.
Sure can, and free of charge too! This helps to reduce the amount of interest you pay.
Yes, whichever Sydney Mutual Bank loan you choose, you’ll have a redraw facility to access any additional loan repayments made.
If it’s under 3 years old, you can. Otherwise, consider an unsecured loan, or taking out a secured personal loan using an asset you already have.
Not at all. In fact, all Sydney Mutual Bank car loans charge zero fees when you wipe that debt off before the contract is up.
Very easy, as you can do it online, at a branch or over the phone. There are some personal details that must be included in your application though, which include:
Once that’s done, sit back and you’ll hear from Sydney Mutual Bank on the outcome of your application shortly. You should be on the road in that dream car in no time. Good luck!