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Illawarra Credit Union Online Personal Loan Package

Advertiser disclosure
Interest rate from
5.25% p.a.
Comparison rate from
5.89% p.a.based on $30,000
over 5 years
Upfront fee

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

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What's hot
  • 2022 Mozo Experts Choice Award winner
  • Variable rates from 5.25% p.a. (5.89% p.a. comparison rate*)
  • Extra repayments allowed
What's not
  • $200 upfront fee
Mozo snapshot

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.

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Key features

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.

Who is it good for

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.

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Any catches

There is a $200 upfront application fee to pay and you will be charged $5 per month from your offset account.


Rates and fees information correct as at 28 June 2022. 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.


5.25% p.a.variable

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







Other financial bits



1 Year

5 Years

Various, Vehicle


Weekly, Fortnightly, Monthly



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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