| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Unsecured Personal Loan (Variable, flybuys members rates) |
10.90% p.a. |
11.19% p.a.based on $30,000 |
$199.00 |
| Unsecured Personal Loan (Variable, Non-flybuys members rates) |
12.99% p.a. |
13.28% p.a.based on $30,000 |
$199.00 |
Unsecured Personal Loan
Coles offers two variable unsecured personal loan variations: one for flybuys members and one for non flybuys members. The difference is that flybuys members may receive a lower rate than that of non-members.
Across both loan offerings variable rates are based on a customer’s credit rating, so the better your rating the more competitive rate you’ll receive. Loan amounts range from $5,000 to $50,000 and loan terms are between 3 and 5 years. While there is only the option to make monthly repayments on this loan, extra repayments are allowed. Plus, there are no exit or early repayment charges if you pay down your debt ahead of time. Just keep in mind there is an upfront application fee and ongoing monthly service fee (which is waived in the first year).
Free extra repayments: With the Coles personal loan, borrowers can make additional contributions towards their debt whenever they like - at no extra charge.
No early repayment penalty: There is also no early repayment or “break cost” if you end up paying your entire Coles personal loan off before your agreed term is up.
Waived monthly fee in first year: For the first twelve of your Coles personal loan, the lender will waive the monthly fee. Just remember, from the second year onwards you will have to fork out this cost.
Flybuys member discount: If you are a flybuys member and enter your flybuys number when you apply for a Coles personal loan, you will receive a discount on your interest rate.
You can apply for a Coles personal loan online and can take under 15 minutes, as long as you have the right information handy. Here’s what you’ll need:
Personal information (name and contact details)
Your flybuys number (if you are a member)
Employment information (current employment, payslips etc)
Financial information (current debts, bank statements etc)
Loan details (how much you want to borrow and for how long)
Mozo users have rated Coles personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
4 Reviews
Tried to borrow $5000, very hard to understand the dialect from the o/s call centre and the slow response dragged the process out. Need more documents, sure but then they weren't signed though on my accountant stationary. Forwarded everything my accountant sent over a week ago but have heard nothing. In the two months this process has taken I've almost saved enough for the car repairs... so boo Coles
Read full reviewTried to borrow $5000, very hard to understand the dialect from the o/s call centre and the slow response dragged the process out. Need more documents, sure but then they weren't signed though on my accountant stationary. Forwarded everything my accountant sent over a week ago but have heard nothing. In the two months this process has taken I've almost saved enough for the car repairs... so boo Coles
Easy to understand statements and good customer service.
Read full reviewEasy to understand statements and good customer service.
Great customer service and easy to understand statements.
Read full reviewGreat customer service and easy to understand statements.
They are the best of the best.
Read full reviewThey are the best of the best.