based on 442 Community First Bank product reviews as rated by Mozo community

Community First Bank personal loans

Want to be a member of and borrow from an organisation that’s been responsibly handling money since 1959? Community First Bank is the largest community based credit union operating throughout the Sydney and Central Coast region. It’s a member owned institution, which means there’s no need to pay large dividends to shareholders — instead it’s focused on delivering great value to its members. Best of all, Community First Bank’s Unsecured Personal Loan won a 2024 Mozo Experts Choice Award for Best Unsecured Personal Loan.

Read on for a rundown of Community First personal loans.

Community First Bank offers the following personal loans

Rates and fees verified as correct at 24 April 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate from Comparison rate from Upfront fee
Car Loan (Up to 5 years old, Fixed, Secured)

6.29% p.a.

7.35% p.a.based on $30,000
over 5 years

$249.00

Car Loan (Up to 5 years old, Variable. Secured)

6.29% p.a.

7.35% p.a.based on $30,000
over 5 years

$249.00

Green Car Loan (Secured, Fixed)

5.89% p.a.

6.95% p.a.based on $30,000
over 5 years

$249.00

Green Car Loan (Secured, Variable)

5.89% p.a.

6.95% p.a.based on $30,000
over 5 years

$249.00

Green Loan (up to 10 years, Variable, Unsecured)

6.54% p.a.

7.60% p.a.based on $30,000
over 5 years

$249.00

Home Improvement Loan (up to 10 years, Variable, Unsecured)

6.54% p.a.

7.60% p.a.based on $30,000
over 5 years

$249.00

Personal Loan (Fixed, Unsecured)

9.99% p.a.

11.03% p.a.based on $30,000
over 5 years

$249.00

Personal Loan (Variable, Unsecured)

9.99% p.a.

11.03% p.a.based on $30,000
over 5 years

$249.00

Overview of Community First Bank personal loans

New car loan

Got your eye on a brand new set of wheels but don’t have the lump sum saved up just yet? A new car loan from Community First Bank could be the solution. It’s a secured loan, which means the car you’re buying will be put up as security against the amount you borrow, and you can choose between the certainty of a fixed rate or the flexibility offered by a variable rate loan. In terms of features, you’ll have the option to make extra repayments on your loan and the use of a redraw facility. Just remember that if you opt for the fixed rate offer and pay the entire loan off before the term is up, there’ll be an early repayment penalty. Also, make sure you budget for the upfront application and small monthly service fee.

Unsecured personal loan

Whether you’re buying a boat, going on holiday or consolidating debt, a personal loan will let you get your hands on the necessary funds. An unsecured loan from Community First Bank is a good option if you don’t have any assets to put up as security, and you’ll be able to choose between a flexible variable rate or a secure fixed rate. There’s an upfront application fee to budget for, but no ongoing fees, and you’ll get the chance to make free extra repayments and use a redraw facility. You can borrow between $5,000 and $35,000, and pay it back over a term ranging from 1 - 5 years.

Community First Bank personal loan features at a glance

Extra repayments: Pay off your loan quicker and save on interest by making free extra repayments. You can make as many of these additional repayments as you like - but remember, if you chose a fixed rate loan, there’ll be a penalty fee for repaying your entire loan before the term is up.

Redraw facility: Went a little crazy with your extra repayments and need some of that cash back? You’ll have use of a redraw facility with loans from Community First Bank, so you can get your extra funds back if you need to.

Flexible repayment schedule: Choose to make your repayments monthly, fortnightly or weekly - whatever will suit your budget schedule.

Fees: Remember to budget for an upfront application fee if you’re taking out a personal loan with Community First. And if you’re after the new car loan, don’t forget to factor in the small monthly service fee as well.

How to apply

Are you sold on a Community First Bank personal loan? Then the next thing you’ll want to know is how to apply. You can apply for a loan if you:

  • Are over 18

  • Are an Australian citizen or permanent resident

  • Have a regular income

  • Have been in your current job longer than 3 months

  • Aren’t bankrupt

  • Haven't defaulted on any Loans, Credit cards, or other credit sources in the last 5 years

When you go to apply, you’ll need to supply your personal details, like address, phone number and email, as well as details about your finances, including your income, assets and debts.

How are Community First Bank personal loans rated?

Mozo users have rated Community First 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
Community First Bank personal loans
Overall
Price
Features
Customer service
Convenience
Trust

14 Reviews

Recent Community First Bank personal loan reviews

Community First Bank Green Loan
Overall 10/10
Amazing!!!!

I thought there must be a catch but it was exactly what it appeared to be and the service was out of this world. Absolutely amazing product :)

Read full review

I thought there must be a catch but it was exactly what it appeared to be and the service was out of this world. Absolutely amazing product :)

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Max, New South Wales, reviewed over 1 year ago
Community First Bank Personal Loan
Overall 8/10
Great service and competitive rates

The team at CFCU made the loan application process easy and efficient, and I spoke to the same person from start to end. There is also a redraw facility on the car loan with a competitive interest rate.

Read full review

The team at CFCU made the loan application process easy and efficient, and I spoke to the same person from start to end. There is also a redraw facility on the car loan with a competitive interest rate.

Price
7/10
Features
9/10
Customer service
10/10
Convenience
5/10
Trust
10/10
Less
Scott, New South Wales, reviewed over 4 years ago
Community First Bank Personal Loan
Overall 7/10
Peoples bank

Great community bank who understands local businesses and local people

Read full review

Great community bank who understands local businesses and local people

Price
6/10
Features
7/10
Customer service
9/10
Convenience
8/10
Trust
7/10
Less
Toa , , reviewed over 9 years ago
Community First Bank New Car Loan - Special
Overall 4/10
Not bad

Not bad

Price
5/10
Features
5/10
Customer service
5/10
Convenience
5/10
Trust
7/10
Less
Isaac, , reviewed over 9 years ago
See all personal loan reviews
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