Rates and fees verified as correct at 26 January 2022. 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. | 13.40% p.a.based on $10,000 | $200 |
| New Car Loan (less than 2 years old, Variable, Secured) | 5.99% p.a. | 6.65% p.a.based on $30,000 | $200 |
| Unsecured Personal Loan (Variable) | 13.95% p.a. | 16.61% p.a.based on $10,000 | $200 |
| Unsecured Personal Loan (Variable) | 14.20% p.a. | 16.66% p.a.based on $10,000 | $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 | $200 |
| Used Car Loan (up to 10 years old, Variable, Secured) | 10.70% p.a. | 11.33% p.a.based on $30,000 | $200 |
| Used Car Loan (up to 5 years old, Variable, Secured) | 7.95% p.a. | 8.58% p.a.based on $30,000 | $200 |
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.
Repayment schedule options: Macquarie Credit Union personal loan customers can choose between a weekly, fortnightly or monthly repayment schedule.
Extra repayments: Borrowers can also make free extra repayments on their Macquarie Credit Union personal loan whenever they like.
Redraw facility: Macquarie Credit Union personal loans also come equipped with a redraw facility so customers can access their additional repayments if they want to.
No early repayment penalty: With Macquarie Credit Union personal loans there are no early repayment penalties if you pay off your entire debt ahead of time (you may face this cost with other lenders).
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:
Employment, income and living expenses information
Asset details (land, house, contents, vehicles etc)
What you owe (loans, overdrafts, credit cards etc.)
Australian driver’s licence
Passport
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.
7 Reviews
They have been very helpful in hard times during COVID-19. Cannot ask for more than that.
Read full reviewThey have been very helpful in hard times during COVID-19. Cannot ask for more than that.
Great banking so helpful
Read full reviewThe high interest rates are killing us within our current financial predicament
Read full reviewThe 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 reviewThe 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).
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