based on 387 BCU Bank product reviews as rated by Mozo community

BCU Bank personal loans

If you’re seeking out a personal loan from an alternative provider to the big banks, check out a bcu personal loan.  bcu is a division of Police & Nurses Limited following the successful merger between Bananacoast Community Credit Union Ltd and Police & Nurses Limited. Find details you need to know before you apply, like interest rates, fees and loan amounts below. BCU’s New Car Loan product also secured a 2024 Mozo Experts Choice Award under the Best Used Car Loan, and Car Loan categories!

BCU Bank offers the following personal loans

Rates and fees verified as correct at 26 February 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate from Comparison rate from Upfront fee
Freedom Loan (Variable, Unsecured)

9.30% p.a.

9.59% p.a.based on $10,000
over 3 years

$200.00

New Car Loan (Less than 5 years old, Variable, Secured)

6.49% p.a.

6.77% p.a.based on $30,000
over 5 years

$200.00

bcu personal loan overview

Unsecured personal loan:

Don't have an asset to put up as collateral? You can choose an unsecured loan with bcu. The loan allows customers to borrow between $4,000 and $75,000 for a loan term between 1 and 5 years. While there is an application cost to budget for straight off the bat, there are no other ongoing or early repayment penalties to worry about. And when it comes to making repayments there is tonnes of flexibility. Not only can borrowers choose from a weekly, fortnightly or monthly repayment schedule, there are also free extra repayments and a redraw facility attached to this loan.  

New or used car loan:

If you're specifically shopping for a car with your bcu loan, you're in luck. The bcu car loan (for vehicles up to five years old) comes with extra loan repayments and a redraw facility. Plus, bcu won’t penalise you for clearing your debt before the total amount is due, and there are also no ongoing or exit fees either. However, keep in mind bcu's car loan does come with an upfront application fee. This loan wowed Mozo's experts as they awarded it Best Used Car Loan for the 2023 Mozo Experts Choice Awards.  

bcu personal loan features at a glance

  • Repayment flexibility: Take your pick between weekly, fortnightly or monthly repayments with all bcu personal loans.
  • Extra repayments: Make additional repayments as you like with bcu, as there are no break cost fees or penalty fees to consider.
  • Redraw facility: With bcu you’re free to draw on funds from past repayments via a redraw facility.
  • No break cost: If you want to clear your debts sooner rather than later, bcu personal loans won’t charge you extra for doing it.

How do you apply for a bcu personal loan?

To apply for a personal loan with bcu, all you need to do is head to a local branch or fill out your details in online form. Once that’s done, bcu could approve your loan within the hour.

To apply for a personal loan with bcu you will need:

  • To be 18 years of age or older
  • To be an Australian resident or citizen
  • To prove your income with the contact details of your employer
  • To give an estimate of your monthly personal expenses
  • To provide details of any assets you own and liabilities

How are BCU Bank personal loans rated?

Mozo users have rated BCU Bank personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
BCU Bank personal loans
Overall
Price
Features
Customer service
Convenience
Trust

86 Reviews

Recent BCU Bank personal loan reviews

BCU Bank Secured Freedom Loan
Overall 10/10
Awesome

Great service

Read full review

Great service

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Ben, New South Wales, reviewed almost 8 years ago
BCU Bank Secured Freedom Loan
Overall 9/10
Great service

Well looked after and provided all sufficient information I asked and also very satisfying customer service

Read full review

Well looked after and provided all sufficient information I asked and also very satisfying customer service

Price
8/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Jye, New South Wales, reviewed almost 8 years ago
BCU Bank Freedom Loan
Overall 10/10
Excellent customer service

Excellent customer service & super quick at approving/processing personal loan

Read full review

Excellent customer service & super quick at approving/processing personal loan

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Tammy, New South Wales, reviewed almost 8 years ago
BCU Bank Secured Freedom Loan
Overall 10/10
Will never look anywhere else!!

Great, efficient and personal.

Read full review

Great, efficient and personal.

Price
8/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Kattya, New South Wales, reviewed almost 8 years ago
See all personal loan reviews
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