Rates and fees verified as correct at 27 February, 2021. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|Car Loan (Fixed, Secured)|| |
7.27% p.a.based on $30,000
|Secured Personal Loan (Variable)|| |
9.28% p.a.based on $30,000
|Unsecured Personal Loan (Variable)|| |
16.36% p.a.based on $10,000
Secured Personal Loan
Whether it's to fund a home renovation or wedding, if you have an asset to put against a loan, Australian Unity’s secured personal loan could be what you are looking for. With this loan customers can borrow from $5,000 upwards, plus there is the option to pay it down from 1 to 7 years. Not only that, borrowers can opt to make weekly, fortnightly or monthly repayments as well as free extra repayments and redraws if they want to.
There are no monthly service, exit or early repayments attached to this loan, just be mindful Australian Unity does charge an upfront application fee. Also remember, this is a variable interest rate option - meaning it could go up or down at any point over the life of the loan.
Unsecured Personal Loan
Don’t want to or can’t put up an asset against a personal loan? No worries, Australian Unity also offers an unsecured personal loan option. Like the secured option above, there are a bunch of loan terms from 1 to 7 years and borrowers have the choice of a weekly, fortnightly or monthly repayment schedule. There are also free extra repayments and a redraw facility as well, without an early repayment penalty.
Because the loan is unsecured the interest rate is higher than the secured option. On top of that, there is also a limit to how much you can borrow: between $5,000 and $20,000. Don’t forget, there is an application fee on this loan to budget for as well.
If you have your eyes on a car that is less than five years old and need a loan to help you get your hands on the keys, take a look at the Australian Unity Car Loan. This loan works in a very similar way to the secured loan, just that you use the car you are buying as security against the loan. Customers can borrow from $5,000, plus interest rates are also lower on this loan.
Like the above mentioned loans, customers can choose to borrow between 1 to 7 years and make weekly, fortnightly or monthly repayments. Australian Unity also allows customers to make free extra repayments and access a redraw facility on their additional contributions if they want to. There is no early repayment charge, but there is an upfront fee upon application.
Extra repayments: Want to put more money towards your loan when you get the chance? With the Australian Unity personal loan options you can - without being charged.
Redraw facility: There is also the opportunity to redraw on any extra repayments you have made. This is handy if you find yourself needing a little extra emergency cash later down the track.
No early repayment fee: Some lenders charge hefty break costs for paying down your loan early, however Australian Unity also doesn’t charge this penalty.
Applying for an Australian Unity personal loan can be done online and takes around 10 minutes to complete. You’ll need a few things handy before you start your application though.
Here’s what you need:
Financial information: income, expenses, assets and debts
Current and past employment details
Email address and contact information
Identification documents: driver’s licence, medicare card or passport
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