With interest rates starting at a competitively low level, and a number of additional features on offer, it’s no wonder this product bagged a 2022 Mozo Experts Choice Award for best Secured Personal Loan! Loans from $10,000 to $100,000 are on offer and loan terms range from one to five years.
Interest rates for Illawarra Credit Union’s Online Personal Loan Package are variable and start as low as 5.25% p.a. (5.89% p.a. comparison rate*). Plus, as the name suggests this particular loan comes as part of a package, meaning there’s plenty of additional features to take advantage of. These include a redraw facility and a 100% offset account. You will also have to have a Visa Debit card with the credit union and be registered for online banking to be eligible.
On top of all this, there’s the option to make extra repayments and no penalty for paying off your loan early. So if you have the budget to make additional payments, you could be done with your debt sooner than anticipated. Speaking of budget, you can even choose to make repayments weekly, fortnightly or monthly. So you could work your bill payments around whatever money you have coming in.
Loans are available from as little as $10,000 to as much as $100,000 and loan terms range from one to five years. There is no exit fee and no additional fees for the offset account. Just keep in mind that there is a $200 upfront, application fee and a $5 monthly personal loan fee, which will be charged to your personal loan offset account.
It is also good to remember that this is a secured loan, so you will have to provide some form of security, like a car for example.
This loan would be suited to someone looking for a personal loan with a few extra bells and whistles attached to make the most of.
There is a $200 upfront application fee to pay and you will be charged $5 per month from your offset account.
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Variable |
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5.25% p.a.variable |
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5.89% p.a.based on $30,000 |
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$200.00 |
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$5.00 |
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$20.00 |
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$0.00 |
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$0.00 |
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$10,000.00 |
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$100,000.00 |
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1 Year |
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5 Years |
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Various, Vehicle |
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Weekly, Fortnightly, Monthly |
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yes |
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yes |
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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. |
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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.
OurMoneyMarket
Low Rate Personal Loan
5.45% p.a.to 8.48% p.a.
6.07% p.a.to 8.84% p.a.based on $30,000
over 5 years
Harmoney
Unsecured Personal Loan
5.35% p.a.to 19.09% p.a.
6.14% p.a.to 19.99% p.a.based on $30,000
over 5 years
Plenti
Unsecured Personal Loan (Fixed)
6.39% p.a.to 7.89% p.a.
6.39% p.a.to 8.49% p.a.based on $30,000
over 5 years
Wisr
Unsecured Personal Loan
5.95% p.a.to 17.45% p.a.
6.79% p.a.to 17.86% p.a.based on $30,000
over 5 years
Latitude
Personal Loan
5.75% p.a.to 25.99% p.a.
6.68% p.a.to 29.2% p.a.based on $30,000
over 5 years
NOW Finance
Unsecured Personal Loan
5.95% p.a.to 19.95% p.a.
5.95% p.a.to 19.95% p.a.based on $30,000
over 5 years
Alex Bank
Personal Loan
4.99% p.a.to 14.99% p.a.
4.99% p.a.to 14.99% p.a.based on $30,000
over 5 years
loans.com.au
New Car Loan - Prime Special
6.09% p.a.
6.64% p.a.based on $30,000
over 5 years
Latitude
Car Loan
6.99% p.a.
8.24% p.a.based on $30,000
over 5 years
Wisr
Secured Car Loan
4.49% p.a.to 13.59% p.a.
5.31% p.a.to 14.49% p.a.based on $30,000
over 5 years
Great Southern Bank
Secured Car Loan (Fixed)
6.79% p.a.
7.16% p.a.based on $30,000
over 5 years
OurMoneyMarket
Low Rate Personal Loan
5.45% p.a.to 8.48% p.a.
6.07% p.a.to 8.84% p.a.based on $30,000
over 5 years
Plenti
Unsecured Personal Loan (Fixed)
6.39% p.a.to 7.89% p.a.
6.39% p.a.to 8.49% p.a.based on $30,000
over 5 years
Harmoney
Unsecured Personal Loan
5.35% p.a.to 19.09% p.a.
6.14% p.a.to 19.99% p.a.based on $30,000
over 5 years
Wisr
Unsecured Personal Loan
5.95% p.a.to 17.45% p.a.
6.79% p.a.to 17.86% p.a.based on $30,000
over 5 years
Alex Bank
Personal Loan
4.99% p.a.to 14.99% p.a.
4.99% p.a.to 14.99% p.a.based on $30,000
over 5 years
NOW Finance
Unsecured Personal Loan
5.95% p.a.to 19.95% p.a.
5.95% p.a.to 19.95% p.a.based on $30,000
over 5 years
OurMoneyMarket
Low Rate Personal Loan
8.49% p.a.to 11.19% p.a.
8.85% p.a.to 11.56% p.a.based on $30,000
over 5 years
