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Illawarra Credit Union Green Unsecured Personal Loan Package

Advertiser disclosure
Interest rate from
3.99% p.a.
Comparison rate from
5.15% p.a.based on $30,000
over 5 years
Upfront fee
$200

Mozo editorial review Illawarra Credit Union Green Unsecured Personal Loan Package - last updated: 18 November 2021

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What's hot
  • 2022 Mozo Experts Choice Award winner
  • Competitive variable rate from 3.99% p.a. (5.15% p.a. Comparison rate)
  • Offset account
What's not
  • $200 upfront fee
Mozo snapshot

Are you looking for a personal loan to help with the costs of some green home improvements? It’s time to check out the Illawarra Credit Union Green Eco Unsecured Personal Loan. 2022 Mozo Experts Choice Award winner for Best New Loan Product, this loan is specifically designed for eco-friendly renovations. It offers a competitive variable rate from 3.99% p.a. (5.15% p.a. Comparison rate) on loan amounts from $1,000 to $30,000, with 1 to 5-year terms.

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Key features

The Illawarra Credit Union Green Eco Personal Loan is a home renovation loan designed to fund green home improvements, such as solar panels, battery storage, home ventilation systems, insulation, rainwater tanks, double glazing, and more.

The loan comes with competitive variable rates which start from 3.99% p.a. (5.15% p.a. comparison rate*) on loans between $1,000 and $30,000 and flexible 1 to 5-year loan term options.

With this loan, you can reduce your interest with an offset account, as well as make free extra repayments, so you can pay off your loan balance sooner. Additionally, you have access to these extra repayments, as the loan has a redraw facility. 

On top of this, you’ll get to choose between either weekly, fortnightly or monthly repayment options, so you’ll be able to work your regular repayments around your income and budget.

What’s also worth noting is that the Illawarra Credit Union Green Eco Personal Loan is unsecured, so you won’t have to put up any expensive assets, such as your house or car, as security items against the loan.

Be aware that the loan comes with a $200 upfront fee, a $12 monthly fee taken from your offset account, as well as a $20 late payment fee should you ever miss a repayment.


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Who is it good for

The Illawarra Credit Union Green Eco Personal Loan helps homeowners fund green projects, like solar panels, rainwater tanks, energy-efficient renovations and more. It’s a great option to consider if you’re looking to make a long-term environmental investment but are struggling with the upfront costs.

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Any catches

Remember that the Illawarra Credit Union Green Eco Personal Loan comes with a $200 upfront fee and $12 monthly that you’ll need to budget for, plus a $20 late payment fee if you ever miss a repayment.

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Ava Crawford
Money writer

Ava Crawford writes across all of our personal finance areas here at Mozo. She likes to provide no-nonsense financial information that allows everyday Australians to make informed and empowered choices. Ava has also produced digital content for Foxtel's LifeStyle and FOXArena, and has contributed to publications such as The New York Times. She attended New York University and completed a degree in English and American Literature.

Details

Rates and fees information correct as at 6 December 2021. 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

3.99% p.a.variable

5.15% p.a.based on $30,000
over 5 years

Fees

$200.00

$12.00

$20.00

$0.00

$0.00

Other financial bits

$1,000.00

$30,000.00

1 Year

5 Years

Unsecured

Features

Weekly, Fortnightly, Monthly

yes

yes

For green improvements to homes. Must meet all requirements of the Package Agreement. This includes holding an Offset account, Visa Debit card and must be registered for online statements & Internet banking.

Offset transaction account with no additional fees.

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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