8.1 / 10

based on 2156 CUA 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 19 April, 2021. 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

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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

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
8.1/10
Price
Features
Customer service
Convenience
Trust

137 Reviews

Recent CUA personal loan reviews

CUA Unsecured Personal Loan (Fixed) review
Overall 10/10
I got to speak with a real person!

Very easy application process with real, genuine personalised service. Highly recommended,

Read full review

Very easy application process with real, genuine personalised service. Highly recommended,

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Michael, Queensland, reviewed about 1 month ago
CUA Personal Loan review
Overall 1/10
Terrible to deal with

Terrible company to deal with, terrible customer service, not very flexible most certainly not helpful at all. Would not deal with them at all for anything ever again.

Read full review

Terrible company to deal with, terrible customer service, not very flexible most certainly not helpful at all. Would not deal with them at all for anything ever again.

Price
1/10
Features
4/10
Customer service
1/10
Convenience
3/10
Trust
1/10
Less
L, Victoria, reviewed 2 months ago
CUA Unsecured Personal Loan (Variable) review
Overall 1/10
Info brokers not lenders

Just no good at their jobs. Awful experience and they take forever and ask unnecessary questions in my opinion sounds like pulling information to sell off instead of giving loans out.

Read full review

Just no good at their jobs. Awful experience and they take forever and ask unnecessary questions in my opinion sounds like pulling information to sell off instead of giving loans out.

Price
8/10
Features
8/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Micheal, Western Australia, reviewed 2 months ago
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 5 months ago

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