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CUA Unsecured Personal Loan (Fixed)

Interest rate from
9.89% p.a.
Comparison rate from*
10.14% p.a.based on $30,000
over 5 years
Upfront fee
$175
Go to site

Mozo editorial review CUA Unsecured Personal Loan (Fixed)

Last updated: 14 May 2020.

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What's hot
  • Flexible repayment schedule
  • Free extra repayments and redraw facility
  • No ongoing fees
What's not
  • $175 application fee
  • $200 minimum redraw in-branch
Mozo snapshot

If you love flexibility, then the CUA Unsecured Personal Loan might be the one for you, as it offers borrowers the ability to choose their own repayment schedule, make free extra repayments and access to a redraw facility. With this loan, you also won't have to worry about any ongoing, exit or early payout fees. 

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Key features

The CUA fixed rate unsecured personal loan has a 9.89% fixed interest rate (10.14% comparison rate*) for a loan between $5,000 - $50,000 with a $175 application fee.

For this loan, you'll find yourself free of any ongoing fees, only needing to repay interest.

To help fit your repayments into your budget, you're able to choose between weekly, fortnightly or monthly repayments. Furthermore, you can choose to have your loan period be anywhere between 1-7 years.

There is no penalties for extra repayments, so if you come into some money down the line, you could pay off your loan a lot quicker and save on interest payments. But keep in mind that for any redraws of those extra repayments you make in-branch, a $200 minimum withdrawal amount applies. 

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Who is it good for

You must be over 18 and an Australian permanent resident to be eligible for this loan. So, it could be a suitable option for anyone who fits that criteria, doesn't have assets to secure a loan against, and is looking for a competitive unsecured personal loan with flexible features and minimal fees. 

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Any catches

Because this loan is unsecured, it does have a higher interest rate than a secured loan. 

While extra repayments are allowed and are free, there is a minimum withdrawal amount of $200 to use the free redraw option in-branch, should you wish to access that cash at a later point in time. 

Details

Rates and fees information correct as at 8 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 9.89% p.a. fixed

  • 10.14% p.a.based on $30,000
    over 5 years

Fees
  • $175.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • $50,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • $200 minimum withdrawal amount applies for redraws conducted in-branch.

  • none

*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. WARNING: 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.

Customer Reviews

How are CUA personal loans rated by the Mozo community?

Overall customer rating
8.3/10
Price
7.9/10
Features
7.4/10
Customer service
8.4/10
Convenience
8.0/10
Trust
8.4/10

Latest reviews of CUA Unsecured Personal Loan (Fixed)

  • Overall 1/10
    An hour off my life I will never get back!

    I have a full-time secure government job earning good money. Got conditional approval but when consultant called to confirm everything, I was instantly declined. It was more of an interrogation than chat and his accent was so bad I had to ask him to repeat nearly everything! Waste of credit check which has now dropped my score!

    Read full review

    I have a full-time secure government job earning good money. Got conditional approval but when consultant called to confirm everything, I was instantly declined. It was more of an interrogation than chat and his accent was so bad I had to ask him to repeat nearly everything! Waste of credit check which has now dropped my score!

    Price
    -1/10
    Features
    -1/10
    Customer service
    1/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Mandy, South Australia reviewed 15 days ago
  • Overall 8/10
    None of the worries of dealing with a big bank!

    The staff were polite and helpful. The product was explained in detail. The application process was smooth!

    Read full review

    The staff were polite and helpful. The product was explained in detail. The application process was smooth!

    Price
    7/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Michael, Victoria reviewed about 2 months ago
  • Overall 6/10
    Good rates but bad service.

    Great Competitive Rates and Features on CUA’s unsecured personal loan. 9.89% compared to others providing for 11.90- 14.90%. I bank with CBA but their personal loan was 11.90% and had less features such as no fee payout anytime, no monthly fees, free redraw on fixed loans. The process for applying for this loan was horrendous. Have dealt with the Big 4's subsidiaries such as Bankwest and in the past and I am used to speedy responses and great customer service. Loan approval should not take greater than 2 days! CUA takes 16 days! Cua was a surprise! A simple personal loan with great credit history took more than 2 weeks. Their lenders leave you in the dark on what is actually going on, and never ever call you back even though they say they will. Some statements about apps going to assessors and documents required. I furnished all docs as required within minutes of request. Then I was sent on a mystery wait for days. I think they just either have too much to do or don't bother to speed up the process whatsoever. In hindsight, i went back on the CUA website and they do not state a processing time for this very reason. Could take half a month or a month. Who knows? Only a CUA insider can tell us why they are so slow in processing simple personal loans. I have received a $1.2M home loan in under 2 days from CBA with less mucking around & less docs. They are hell nervous and risk averse in my perception. Due to the great rates, i was forced to bite the bullet and put up with this horrid service while the loan was processing. On certain instances the lender had no clue what he told me just a few days back that he would call me by a certain time and provide approval docs. 2 days post this appointment, i had to chase up yet again. Lender says again it is with the assessor not realising what he said last time. Quite unprofessional and under experienced lenders i think. If you are in no rush and willing to wait it out, then this may be just for you.

    Read full review

    Great Competitive Rates and Features on CUA’s unsecured personal loan. 9.89% compared to others providing for 11.90- 14.90%. I bank with CBA but their personal loan was 11.90% and had less features such as no fee payout anytime, no monthly fees, free redraw on fixed loans. The process for applying for this loan was horrendous. Have dealt with the Big 4's subsidiaries such as Bankwest and in the past and I am used to speedy responses and great customer service. Loan approval should not take greater than 2 days! CUA takes 16 days! Cua was a surprise! A simple personal loan with great credit history took more than 2 weeks. Their lenders leave you in the dark on what is actually going on, and never ever call you back even though they say they will. Some statements about apps going to assessors and documents required. I furnished all docs as required within minutes of request. Then I was sent on a mystery wait for days. I think they just either have too much to do or don't bother to speed up the process whatsoever. In hindsight, i went back on the CUA website and they do not state a processing time for this very reason. Could take half a month or a month. Who knows? Only a CUA insider can tell us why they are so slow in processing simple personal loans. I have received a $1.2M home loan in under 2 days from CBA with less mucking around & less docs. They are hell nervous and risk averse in my perception. Due to the great rates, i was forced to bite the bullet and put up with this horrid service while the loan was processing. On certain instances the lender had no clue what he told me just a few days back that he would call me by a certain time and provide approval docs. 2 days post this appointment, i had to chase up yet again. Lender says again it is with the assessor not realising what he said last time. Quite unprofessional and under experienced lenders i think. If you are in no rush and willing to wait it out, then this may be just for you.

    Price
    10/10
    Features
    9/10
    Customer service
    1/10
    Convenience
    6/10
    Trust
    -1/10
    Less
    Anonymous, Queensland reviewed 4 months ago
  • Overall 9/10
    You feel like family.

    Super low interest rates, always helpful and see the human side of the account not just the number.

    Read full review

    Super low interest rates, always helpful and see the human side of the account not just the number.

    Price
    10/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    6/10
    Trust
    9/10
    Less
    Hayden, Western Australia reviewed 5 months ago
  • Overall 8/10
    Customer oriented with a good range of products.

    Friendly and efficient with good interest rates.

    Read full review

    Friendly and efficient with good interest rates.

    Price
    8/10
    Features
    6/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    9/10
    Less
    Carolyn, Queensland reviewed 7 months ago
CUA

About CUA

CUA is Australia's largest credit union and an alternative to the big banks, offering financial, health and insurance solutions to over 500,000 Aussies. As a mutual, it's run by members for members, and reinvests in making its service better for customers and supporting local communities. CUA is committed to helping members through life's big changes, so if you want to make a change for the better, check out CUA's range of home loans, personal loans, credit cards, savings accounts and more.

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