Maritime, Mining & Power Credit Union personal loans

Maritime, Mining & Power Credit Union
Maritime, Mining & Power Credit Union's overall rating for personal loans

(as rated by the Mozo community)

8.5 / 10

based on 2 reviews

Operating since 1970, Maritime, Mining & Power Credit Union is a member owned co-op, committed to delivering awesome financial products to its members.

Anyone can apply to be a member, so if you’re after a personal loan to fund your next spending goal, check out the details below.

Maritime, Mining & Power Credit Union offers the following personal loans

Rates and fees verified as correct at 04 December, 2016. Other information correct at the time of writing.

Product Interest rate from Comparison rate from* Upfront fee
Car Loan (Up to 3 years old, Fixed)
Maritime, Mining & Power Credit Union

7.99% p.a.

9.04% p.a.based on $30,000
over 5 years

$200

Car Loan (Up to 3 years old, Variable)
Maritime, Mining & Power Credit Union

8.66% p.a.

9.70% p.a.based on $30,000
over 5 years

$200

Consolidator Loan (Variable, Unsecured)
Maritime, Mining & Power Credit Union

17.57% p.a.

18.48% p.a.based on $30,000
over 5 years

$150

Personal Loan (Variable, Unsecured)
Maritime, Mining & Power Credit Union

14.82% p.a.

15.75% p.a.based on $30,000
over 5 years

$150

Personal Loan (Fixed, Unsecured)
Maritime, Mining & Power Credit Union

14.82% p.a.

15.75% p.a.based on $30,000
over 5 years

$150

* 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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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What personal loans does Maritime, Mining & Power Credit Union offer?

Car loan

After a new set of wheels? At Maritime, Mining & Power Credit Union, there’s a fixed or variable rate loan option to make it happen. The minimum loan amount is $10,000, and the maximum term to pay it off is 10 years. You’ll get the option to make free extra repayments, as well as use the free redraw facility. But remember, there’s both an upfront application and monthly service fee to pay, and you will have to put the vehicle you’re buying up as security against the loan.

Unsecured personal loan

Looking at a kitchen renovation, overseas holiday or maybe a new boat? With an unsecured personal loan from Maritime, Mining & Power Credit Union, you can borrow amounts starting at $500, for a term of up to 7 years. There’s a fixed or variable rate option available, and you won’t have to put up any assets as security. Pay off the loan quicker by making extra repayments, and don’t forget you can also make use of the free redraw facility. Keep in mind there’s an upfront application plus an ongoing service fee to consider.

Consolidator loan

If you’re looking to consolidate your existing debt into one easy to manage loan, the consolidator loan from Maritime, Mining & Power Credit Union might be perfect. With a minimum loan amount of $2,000 and terms of up to 7 years, this is a variable rate, unsecured loan.  You can make free extra repayments and use the free redraw facility, as well as choosing your own repayment schedule. Just don’t forget to factor the cost of the upfront application and ongoing service fee into the cost of the loan.

Maritime, Mining & Power Credit Union personal loan features at a glance

Flexible repayment options: Choose to make repayments monthly, fortnightly or weekly, to suit your schedule and budget.

Extra repayments: Pay your loan off faster and save on interest by making free additional repayments. Just remember that if you opt for a fixed rate loan, there may be penalties for repaying the loan entirely before the term is up.

Free redraw facility: Put a little too much into your extra repayments? You can get those funds back in your pocket by making use of the free redraw facility.

Fees: Don’t forget that when taking out a personal loan from Maritime, Mining & Power Credit Union, you’ll have to budget for an upfront application fee, as well an an ongoing monthly service fee.

Maritime, Mining & Power Credit Union customer reviews

Want to know what Maritime, Mining & Power Credit Union customers have to say? In our customer review section, you can read up on how its customers rate it in terms of things like customer service, trust and convenience.

How to apply

To apply for a loan with Maritime, Mining & Power Credit Union, you’ll have to be over 18 and an Australian citizen or permanent resident. You’ll have to supply details about your finances, including employment, debts and assets. Also, don’t forget to bring I.D., like your Driver’s licence or passport.

The last thing you should remember when applying for a loan with Maritime, Mining & Power Credit Union, is that you’ll need to become a member. This means buying a $10 membership share, which can be refunded if you ever decide to stop banking with Maritime, Mining & Power Credit Union.

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