CUA personal loans

CUA
CUA's overall rating for personal loans

(as rated by the Mozo community)

7.7 / 10

based on 25 reviews

CUA personal loans offer a range of packages for different needs. Check out our range of personal loans for an overview of interest rates, fees and more. Or you can compare the whole market with our personal loan comparison tools.

CUA offers the following personal loans

Rates and fees verified as correct at 04 December, 2016. Other information correct at the time of writing.

Product Interest rate from Comparison rate from* Upfront fee  

7.29% p.a.

7.42% p.a.based on $30,000
over 5 years

$90

6.79% p.a.

6.92% p.a.based on $30,000
over 5 years

$90

Go to site

6.79% p.a.

7.40% p.a.based on $10,000
over 3 years

$90

11.99% p.a.

11.99% p.a.based on $10,000
over 3 years

$0

Go to site

12.99% p.a.

12.99% p.a.based on $10,000
over 3 years

$0

Go to site

* 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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

About 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.

What personal loans do CUA offer?

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

No monthly fees:

While there is an initial start up cost for taking out a personal loan with CUA, unlike many other providers you don’t get charged ongoing monthly fees.

Flexible payments: 

CUA lets you set up your personal loan repayments weekly, fortnightly or monthly. This flex is going to help you out if you want repayments to coincide with pay day, so you can transfer funds across before spending them!

Fee-free extra repayment facility: 

CUA doesn’t mind if you want to pay off your loan faster through making additional repayments. In fact you won’t get charged more in fees for doing so.

No break cost: 

There is no break cost for paying off your personal loan early, even if it’s a fixed loan. This is a big tick if you come into extra money due to a work promotion or bonus and have the funds to pay your loan off sooner.

How are CUA personal loan products rated?

Mozo has a customer feedback section especially dedicated to CUA personal loan reviews. It’s a great place to go if you want to learn what members are saying about their experiences with this customer-owned institution.

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:

More helpful personal loan quick links