8.2 / 10

based on 79 reviews as rated by Mozo community

Illawarra Credit Union personal loans

If you are thinking of taking out a personal loan and want an alternative to a big bank, Illawarra Credit Union has a range of low cost loans to help ‘make the things you want, the things you have.’ Anyone can join Illawarra Credit Union to take advantage of their great rates. You can compare its loans side by side here or you can head over to our full personal loan comparison section to compare its loan with all other loan providers in our database.

Illawarra Credit Union 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
Online Personal Loan Package (Variable, Secured)

5.25% p.a.

5.89% p.a.based on $30,000
over 5 years

$200

Secured Fixed Personal Loan (New)

5.60% p.a.

5.88% p.a.based on $30,000
over 5 years

$200

Secured Fixed Personal Loan (Used)

5.64% p.a.

5.92% p.a.based on $30,000
over 5 years

$200

Unsecured Fixed Personal Loan

9.75% p.a.

10.04% p.a.based on $30,000
over 5 years

$200

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.

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.

The key FAQs about Illawarra Credit Union personal loans

Can I borrow money for a reason other than buying a car?

Yes, in addition to its loans for new and used cars, Illawarra Credit Union also has a standard unsecured fixed loan. With this loan you can borrow money for any reason you like a holiday, wedding, mancave or backyard reno but as it is an unsecured loan, you’ll pay a higher interest rate than the car loans.

There is a minimum loan amount of $2,000 with the unsecured loan up to a maximum amount of $30,000.

Is there a variable rate option?

No, Illawarra Credit Union only offer fixed rate personal loans but with all loans, you’re able to make extra repayments and pay out your loan early without penalty.

Is there a minimum loan amount I can borrow with a car loan?

The minimum you can borrow is $10,000 for both the used car and new car. There is a maximum loan amount of $100,000 but for any loan, you’ll need to prove that you’ll be able to meet the repayments.

If you’re wondering how much you’ll be able to borrow, check out our loan repayments calculator.

What about loan terms, how long can I take to pay back my loan?

The maximum term is 5 years and the minimum term for all Illawarra Credit Union loans is 1 year.

Do they have flexible repayment options?

Yes, you can time your repayments with your salary payments to make it easy to stay on top of your repayments. Illawarra Credit Union offer weekly, fortnightly and monthly repayments.

Are there fees I should be aware of?

There is an application fee when you first set up the loan but the good news is there are no ongoing service fees, so all of your repayments will go towards paying down your debt.

There is a $10 late payment fee so to avoid this make sure you set up a bill alert or have the amount direct debited from your account.

What will I need to apply for a loan?

You’ll need to meet the Credit Union’s standard credit criteria to be approved for a loan.

You’ll need to be at least 18 years of age, be an Australian resident (with an Australian address), never have been bankrupt and have a regular PAYG income from an employer.

How are Illawarra Credit Union personal loans rated?

Mozo users have rated Illawarra Credit Union 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
Illawarra Credit Union personal loans
Overall
9.4/10
Price
Features
Customer service
Convenience
Trust

5 Reviews

Recent Illawarra Credit Union personal loan reviews

Illawarra Credit Union Personal Loan review
Overall 10/10
Best service ever

Best Service ever

Read full review

Best Service ever

Price
10/10
Features
10/10
Convenience
10/10
Trust
10/10
Less
Karin, New South Wales reviewed over 6 years ago
Illawarra Credit Union Personal Loan review
Overall 10/10
Not a problem.

Had at least five loans without a hitch.

Read full review

Had at least five loans without a hitch.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Robert, New South Wales reviewed about 7 years ago
Illawarra Credit Union Personal Loan review
Overall 8/10
Great customer service and rates

Staff are helpful and friendly. Nothing is too big a problem

Read full review

Staff are helpful and friendly. Nothing is too big a problem

Price
6/10
Features
7/10
Customer service
8/10
Convenience
3/10
Trust
8/10
Less
Sandra, New South Wales reviewed over 7 years ago
Illawarra Credit Union Personal Loan review
Overall 9/10

easy to understand the products provided by this bank, honest friendly and professional attitude by the staff, a pleasure to do business with !! :)

Read full review

easy to understand the products provided by this bank, honest friendly and professional attitude by the staff, a pleasure to do business with !! :)

Price
9/10
Features
8/10
Customer service
9/10
Convenience
9/10
Trust
9/10
Less
Amanda, New South Wales reviewed over 10 years ago

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