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CUA Unsecured Personal Loan (Variable)

Advertiser disclosure
Interest rate from
11.89% p.a.
Comparison rate from
12.15% p.a.based on $30,000
over 5 years
Upfront fee
$175
Go to site

Mozo editorial review CUA Unsecured Personal Loan (Variable)

Last updated: 14 September 2020.

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

Personal loans can be great to help pay for an extension on your house, a holiday or the wedding you've always wanted. When it comes to loans, the CUA Unsecured Personal Loan’s variable 11.89% p.a. interest rate (12.15% p.a. comparison rate*) lets you know you’re starting in a good place. The loan also allows you to choose from weekly, fortnightly and monthly repayment terms over 1 - 7 years.

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Key features

First off, you'll have to think about how much you want to borrow. If you're after a smaller loan from $5,000, then you can snag a CUA Unsecured Personal Loan with a rate of 11.89% p.a. (12.15% p.a. comparison rate*). On the other hand, if you're borrowing between $30,000 and $100,000, you could potentially score a discounted rate of 11.89% p.a. (12.15% p.a. comparison rate*).

If you're interested in repaying your loan back early to save on interest, then go right ahead, because CUA allows for unlimited free extra repayments, and there’s no penalty for paying your loan off early. This loan also comes with a free redraw facility, so if you need access to the money you paid back early, you can get it back. The only caveat is that you have to redraw a minimum of $200 if you are in-branch.

Having the ability to choose how long your loan is and how often your repayments are can be really important for keeping your budget in check. That’s why CUA allows you to pick weekly, fortnightly or monthly repayments, and a loan term that can extend between 1 and 7 years.

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Who is it good for

This loan is a budget-friendly option for just about any borrower but is particularly well-suited to those borrowing more than $30,000, as they can score the lower rate option.

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Any catches

There aren’t really any major catches as far as the CUA Unsecured Personal Loan goes. Although, keep in mind that while there's a redraw facility available, a minimum $200 limit applies for in-branch redraws.

Details

Rates and fees information correct as at 26 November 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
  • Variable

  • 11.89% p.a.variable

  • 12.15% 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

  • $60,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

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

  • Applications made in branch have loan amounts available up to $100,000.

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.

Customer Reviews

How are CUA personal loans rated by the Mozo community?

Overall
8.2/10
Price
7.9/10
Features
7.4/10
Customer service
8.3/10
Convenience
7.9/10
Trust
8.3/10

Latest reviews of CUA Unsecured Personal Loan (Variable)

  • 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
  • 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
  • Overall 8/10
    Definitely worth considering

    Branch staff are great. Phone and email is not good.

    Read full review

    Branch staff are great. Phone and email is not good.

    Price
    8/10
    Features
    8/10
    Customer service
    6/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Andrew, Queensland reviewed 8 months ago
  • Overall 1/10
    Okay I guess

    Most stupid bank I have ever banked with, wasn't eligible for anything.

    Read full review

    Most stupid bank I have ever banked with, wasn't eligible for anything.

    Price
    1/10
    Features
    1/10
    Customer service
    1/10
    Convenience
    -1/10
    Trust
    1/10
    Less
    Rebecca, Victoria reviewed over 2 years 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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6.45% p.a.to 26.99% p.a.

6.45% p.a.to 26.99% p.a.based on $30,000
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Unsecured Personal Loan (Fixed)

9.39% p.a.

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

Symple Loans

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5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

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6.95% p.a.to 17.95% p.a.

6.95% p.a.

$0.00

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6.49% p.a.to 8.99% p.a.

6.84% p.a.

$0.00

Alex

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Personal Loan

6.95% p.a.to 19.99% p.a.

6.95% p.a.

$0.00

SocietyOne

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6.99% p.a.to 9.49% p.a.

6.99% p.a.

$0.00

OurMoneyMarket

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6.75% p.a.to 8.48% p.a.

6.96% p.a.

$0.00

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6.45% p.a.to 26.99% p.a.

6.45% p.a.

$0.00

CUA

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9.39% p.a.

9.64% p.a.

$0.00

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5.75% p.a.to 21.99% p.a.

6.47% p.a.

$10.00