7.4 / 10

based on 55 Macquarie Credit Union reviews as rated by Mozo community

Macquarie Credit Union personal loans

Macquarie Credit Union offers its financial services and products to members of any Local, State or Federal Government, Australia Post, Auscott Pty Ltd and Macquarie Credit union employees. It offers members a range of financial products in home and personal loans, car loans, savings accounts, term deposits, credit cards, debit cards and car insurance. Macquarie Credit Union offers its members financial products that are competitively priced and flexible, to suit their needs.

Macquarie Credit Union offers the following personal loans

Rates and fees verified as correct at 09 May, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
10|5|50 Personal Loan (Variable, Unsecured)

10.99% p.a.

13.45% p.a.based on $10,000
over 3 years

$200

New Car Loan (less than 2 years old, Variable, Secured)

5.99% p.a.

6.65% p.a.based on $30,000
over 5 years

$200

Unsecured Personal Loan (Variable)

13.95% p.a.

14.57% p.a.based on $30,000
over 5 years

$200

Unsecured Personal Loan (Variable)

14.20% p.a.

16.66% p.a.based on $10,000
over 3 years

$200

Used Car Loan (up to 10 years old with 10% equity option, Variable, Secured)

10.20% p.a.

10.83% p.a.based on $30,000
over 5 years

$200

Used Car Loan (up to 10 years old, Variable, Secured)

10.70% p.a.

11.33% p.a.based on $30,000
over 5 years

$200

Used Car Loan (up to 5 years old, Variable, Secured)

7.95% p.a.

8.58% p.a.based on $30,000
over 5 years

$200

What personal loans does Macquarie Credit Union offer?

10/5/50 Personal Loan 

Whether you’re looking to make a big purchase or consolidate your debt, the Macquarie Credit Union’s 10/5/50 personal loan might be what you need. The way this loan works is that it is a $10,000 loan, repaid over 5 years with a minimum repayment of $50 a week. 

With this unsecured loan, borrowers have the option of making weekly, fortnightly or monthly repayments as well as the opportunity to make extra repayments and redraws. There are also no late, exit or early repayment fees to worry about - just remember, there is a one-off application cost and ongoing monthly service charge. 

Unsecured Personal Loan 

If you need a slightly larger unsecured loan option, Macquarie Credit Union also has this on offer. With this product customers can borrow between $15,000 and $50,000 between 1 and 5 years. 

Like the 10/5/50 personal loan, there is the choice of making extra repayments and redraws on top of weekly, fortnightly or monthly regular repayments. There is an application and monthly service fee to factor in, however there are no late, exit or early repayment costs. 

Car Loan 

Macquarie Credit Union has a couple car loans whether you need to cover the cost of a new or used vehicle. Both products come with a variable interest rate, however rates are lower for the new car loan option.  

Loan amounts range from $10,000 to $80,000 and terms are between 1 and 7 years. The same fees and repayment options apply on the Macquarie Credit Union car loan as the unsecured personal loan. 

Macquarie Credit Union personal loans features at a glance 

How do you apply for a Macquarie Credit Union personal loan? 

If you’re looking to apply for a Macquarie Credit Union personal loan, you can jump online and apply whenever it suits you! There is a bit of info you’ll need to have prepared before you do. Here’s a rundown: 

How are Macquarie Credit Union personal loans rated?

Mozo users have rated Macquarie 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
Macquarie Credit Union personal loans
Overall
6.6/10
Price
Features
Customer service
Convenience
Trust

7 Reviews

Recent Macquarie Credit Union personal loan reviews

Macquarie Credit Union New Car Loan review
Overall 10/10
Very helpful.

They have been very helpful in hard times during COVID-19. Cannot ask for more than that.

Read full review

They have been very helpful in hard times during COVID-19. Cannot ask for more than that.

Price
5/10
Features
7/10
Customer service
9/10
Convenience
9/10
Trust
10/10
Less
Manwell, New South Wales, reviewed 4 months ago
Macquarie Credit Union Unsecured Personal Loan review
Overall 10/10
Great banking

Great banking so helpful

Read full review

Great banking so helpful

Price
9/10
Less
Peta, New South Wales, reviewed about 4 years ago
Macquarie Credit Union Unsecured Personal Loan review
Overall 5/10
Easy to obtain a loan

The high interest rates are killing us within our current financial predicament

Read full review

The high interest rates are killing us within our current financial predicament

Price
2/10
Less
Judy, New South Wales, reviewed over 4 years ago
Macquarie Credit Union Personal Loan review
Overall 2/10
Lack of online information

The only issue I have in both trust and recommending is the complete lack of information. Nearly through my first year of a 5 year contract and I have only just found out they have an online portal. I go to all the effort of signing up only to find the online portal has pretty much no information other than to ring the 1800 number for a pay out figure. I don't want a payout figure, I just want to see my balance, gauge how much interest I am paying, pay a little extra from time to time and enjoy watching my loan go down. I can't with this loan unless I call and state I just want to know the balance (not a payout figure as this would cost each time).

Read full review

The only issue I have in both trust and recommending is the complete lack of information. Nearly through my first year of a 5 year contract and I have only just found out they have an online portal. I go to all the effort of signing up only to find the online portal has pretty much no information other than to ring the 1800 number for a pay out figure. I don't want a payout figure, I just want to see my balance, gauge how much interest I am paying, pay a little extra from time to time and enjoy watching my loan go down. I can't with this loan unless I call and state I just want to know the balance (not a payout figure as this would cost each time).

Price
7/10
Features
6/10
Customer service
3/10
Convenience
0/10
Trust
0/10
Less
Michael, Victoria, reviewed over 6 years ago

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