Catalyst Money personal loans

Catalyst Money
Catalyst Money's overall rating for personal loans

(as rated by the Mozo community)

8.0 / 10

based on 1 reviews

Catalyst Money is a growing credit union offering fixed personal loans, term deposits and banking services to its members at competitive rates and at minimum cost. If you want to try an alternative lender to the big banks for your personal loan needs, read on and you might find a hidden gem (especially if you’re a student!).

Catalyst Money offers the following personal loans

Rates and fees verified as correct at 20 November, 2018. Other information correct at the time of writing.

Product Interest rate from Comparison rate from* Upfront fee

5.25% p.a.

5.89% p.a.based on $30,000
over 5 years


5.90% p.a.

6.18% p.a.based on $30,000
over 5 years


7.49% p.a.

7.77% p.a.based on $30,000
over 5 years


10.90% p.a.

11.19% p.a.based on $30,000
over 5 years


*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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What personal loans do Catalyst Money offer?

New car loan:

If you’re looking to take out a personal loan for a new car valued at $10,000+, check out this Catalyst Money fixed rate loan. In return for securing your set of wheels to the loan as collateral, you’ll score a competitively low interest rate. Even though the rate will be consistent for the loan term (of up to five years), it doesn’t mean you can’t clear your debt early. In fact, with Catalyst Money new car loans there are no early loan repayment penalties. Another nifty feature with this new car loan is the redraw facility giving you access to additional repayments free of charge. Not only does the Catalyst Money loan have zero monthly fees except for a one off payment when you first sign up, full-time uni students with a Unicorn Saver Account skip the establishment fee altogether.

Used car loan:

The Catalyst Money used car loan can assist in financing second-hand rides from $10,000, and charges slightly more in interest than the new car version detailed above. All handy product features including the free redraw facility, zero early loan repayment fees and no monthly costs, as the new car loan still apply (not to mention the uni student discount for those with a Unicorn Saver Account).

Unsecured personal loan:

A range of dreams can be achieved earlier with Catalyst Money unsecured personal loans, where loan amounts begin at $2,000 on loan terms capped at five years. Don’t have an asset to secure the loan with? That’s okay, Catalyst Money doesn’t require one so you’ll end up paying more in interest than you would with the secured car loans mentioned above. The interest rate is fixed, meaning no rate changes to throw your budget out of whack. You can also make extra loan repayments and repay the loan before the total is due without financial penalty. As with all Catalyst Money personal loans, the redraw facility is free and there are zero monthly admin fees. Don’t forget to factor in the establishment fee you’ll pay when you take out the loan, unless you’re a uni student with a Unicorn Saver Account.

Catalyst Money personal loan features at a glance

No monthly fees:

Catalyst Money personal loans don’t involve monthly fees, so you can focus on meeting loan repayments and other life expenses.

Uni students avoid signup cost:

Full-time university students with a Catalyst Money Unicorn Saver Account are not charged the standard establishment fee, a plus for the budget conscious.

Repayment flexibility: 

Choose between weekly, fortnightly or monthly loan repayments with Catalyst Money loans.

Extra repayments: 

One sure way of paying less in interest is by making extra loan repayments, which you can do with Catalyst Money at no extra cost.

No early repayment penalties: 

If you want to minimise what you end up paying back in interest and clear that debt before the full amount is due, Catalyst Money won’t penalise you with a fee.

Optional loan insurance: 

You can pay a premium for loan insurance that will cover you for circumstances which render you unfit to meet your loan repayments, such as falling ill.

How do you apply for a Catalyst Money personal loan?

You can apply for a Catalyst Money personal loan online, over the phone, by email or at one of its three branches in Australia. Online applications involve filling out a web form, while doing it via email means printing out a PDF form and completing it by hand before sending it to Catalyst Money.

To apply for a personal loan with Catalyst Money you will need:

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