8.2 / 10

based on 2125 reviews as rated by Mozo community

CUA personal loans

CUA is Australia’s largest customer-owned financial institution, so unlike big banks who pass profits back to shareholders, profits are passed on to its customers (e.g members) in the form of lower rates and fees. Whether you’re in need of funds for a new or used set of wheels or to pay for a home reno, CUA has personal loan solutions to help you pay for the things you want now. Just read below to find out more about this provider’s secured and unsecured loan types.

CUA offers the following personal loans

Rates and fees verified as correct at 04 December, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee  
Secured Car Loan (Fixed)

6.79% p.a.

7.16% p.a.based on $30,000
over 5 years

$265

Go to site
Unsecured Personal Loan (Fixed)

9.39% p.a.

9.64% p.a.based on $30,000
over 5 years

$175

Go to site
Unsecured Personal Loan (Variable)

11.89% p.a.

12.15% p.a.based on $30,000
over 5 years

$175

Go to site

WARNING: 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. 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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CUA personal loans overview

Secured car loans:

If you're reading this page because you’re on the hunt for a car loan to buy a new ride, it might please you to know that CUA have three types of loans available which depend on the price and age of the car you are looking to buy. Let’s start with the lowest fixed interest rate one:

Car loan type 1: If you want to buy a car over $15k that is less than two years old, CUA will give you the lowest rate.

Car loan type 2: For a car that is up to two years old and under $15k, your fixed interest rate will be a little higher.

Car loan type 3: Finally, for a used car purchase that has seen two to seven years on the road, you’re going to be paying the highest interest rate. It makes sense considering a second-hand car is going to be a less promising security asset to CUA than a sweet ride worth more than $15k.

But overall, these secured loans have lower rates than their unsecured relatives (see below for more info). That factor, on top of you being able to make extra repayments for free and pay no break cost if you repay it all off earlier than expected, make CUA’s secured car loans well worth considering. Just make sure you factor in the initial start up fee when you do the maths.

Unsecured Personal Loans:

CUA have another type of personal loan available called an unsecured personal loan. This means if you are not tying an asset to the loan as security, you will pay more in interest as a substitute. You might use this type of loan to consolidate your debts, cure a serious case of wanderlust, or even to buy a car if you don’t want your ride to be used as security. Unlike the secured car loans mentioned above, you get to choose between a variable and fixed interest rate. You might prefer a fixed rate for the piece of mind that your rate won’t change for the duration of your loan term. On the other hand, the variable option may suit you if you think rates are likely to go down over the course of your personal loan term (but just keep in mind by the same token they could rise too). One major plus of CUA’s unsecured personal loans is you can make extra repayments at no extra cost. Likewise, there are no break cost fees for paying your loan off early. If monthly fees are a deal breaker for you, these fixed and variable types don’t have them. You’ll only be up for a one off fee upfront when you take out the loan.

CUA personal loan features at a glance

How do you apply for a CUA personal loan?

It’s pretty simple to sign up for a personal loan with CUA, and you don’t even need to deal with the institution before hand. You can simply apply online, over the phone or at a branch. Just make sure you have all your details and relevant documents (detailed below) at hand for a quick turnaround.

To apply for a personal loan with CUA you’ll need:


How are CUA personal loans rated?

Mozo users have rated CUA 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
CUA personal loans
Overall
8.2/10
Price
Features
Customer service
Convenience
Trust

134 Reviews

Recent CUA personal loan reviews

CUA Unsecured Personal Loan (Fixed) review
Overall 1/10
Worst lending experience

Honestly this was my worst lending experience. I work in the same field but applied for personal loan through these guys and this was by far the worst experience, reason being, I was asked 3 types of contracts 2 being my employment contracts, my home loan being 1 of them, home loan statement, and my acceptance letter, on top of my employment letter. I was asked for 3 payslips, and they wanted a loan approval letter for a loan I haven't got yet, this process took a week and half and they said dont proceed with the application if you don't have your future loan loan letter. Being in same line of work I found this to be the worst experience and un-logical, during the process I was told our policies are different to yours, asking for a document for something I don't have has nothing to do with policy.

Read full review

Honestly this was my worst lending experience. I work in the same field but applied for personal loan through these guys and this was by far the worst experience, reason being, I was asked 3 types of contracts 2 being my employment contracts, my home loan being 1 of them, home loan statement, and my acceptance letter, on top of my employment letter. I was asked for 3 payslips, and they wanted a loan approval letter for a loan I haven't got yet, this process took a week and half and they said dont proceed with the application if you don't have your future loan loan letter. Being in same line of work I found this to be the worst experience and un-logical, during the process I was told our policies are different to yours, asking for a document for something I don't have has nothing to do with policy.

Price
6/10
Features
6/10
Customer service
1/10
Convenience
1/10
Trust
2/10
Less
Nazz, Victoria reviewed 22 days ago
CUA Unsecured Personal Loan (Fixed) review
Overall 10/10
Online is great and they keep up to date.

CUA is very helpful and are willing to look at other products which will work better for what we were looking to do. Their staff are all very helpful in each of the branches I have gone into. The only negative is they have shut down to many of the branches and ATMs.

Read full review

CUA is very helpful and are willing to look at other products which will work better for what we were looking to do. Their staff are all very helpful in each of the branches I have gone into. The only negative is they have shut down to many of the branches and ATMs.

Price
10/10
Features
8/10
Customer service
10/10
Convenience
8/10
Trust
9/10
Less
Glenice, Queensland reviewed about 2 months ago
CUA Unsecured Personal Loan (Variable) review
Overall 5/10
The worst banking ever!

CUA had a good personal loan with good terms at the time. We applied for the loan and waited a week to receive a call. After a week, I called to see how are we progressing with approval and then they requested a new document. Document was provided and a week later another 2 documents were requested. Every week for next 5 weeks, there was a new specific document requested, but no approval. I couldn't continue to wait any longer so in week 6 from submission I said that they are to let me know immediately are we approved or is the application declined. The only thing they said that the lender that was looking after us has left the company day before and they will need to start the same application from the beginning.

Read full review

CUA had a good personal loan with good terms at the time. We applied for the loan and waited a week to receive a call. After a week, I called to see how are we progressing with approval and then they requested a new document. Document was provided and a week later another 2 documents were requested. Every week for next 5 weeks, there was a new specific document requested, but no approval. I couldn't continue to wait any longer so in week 6 from submission I said that they are to let me know immediately are we approved or is the application declined. The only thing they said that the lender that was looking after us has left the company day before and they will need to start the same application from the beginning.

Price
5/10
Features
8/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Sasha, New South Wales reviewed 3 months ago
CUA Unsecured Personal Loan (Variable) review
Overall 9/10
Age Pensioners who need help can depend on CUA

Not long ago I applied for a loan from CUA to pay for costly white ant damage to my home. The loan was quickly sorted out and I was able to pay for the damage. CUA has a very friendly informative approach particularly to Pensioners with their accounts and is in an easily accessible location in my local shopping centre.

Read full review

Not long ago I applied for a loan from CUA to pay for costly white ant damage to my home. The loan was quickly sorted out and I was able to pay for the damage. CUA has a very friendly informative approach particularly to Pensioners with their accounts and is in an easily accessible location in my local shopping centre.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Lorna, Queensland reviewed 3 months ago

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