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)|| |
5.89% p.a.based on $30,000
|Secured Fixed Personal Loan (New)|| |
5.88% p.a.based on $30,000
|Secured Fixed Personal Loan (Used)|| |
5.92% p.a.based on $30,000
|Unsecured Fixed Personal Loan|| |
10.04% p.a.based on $30,000
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.
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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.
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.
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.
The maximum term is 5 years and the minimum term for all Illawarra Credit Union loans is 1 year.
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.
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.
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.
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.
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 !! :)