| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Discounted Personal Loan (Car Loan, Fixed, Secured) |
6.49% p.a. |
6.84% p.a.based on $30,000 |
$250.00 |
| Green Car Loan (Cars over $20K, Fixed, Secured) |
5.69% p.a. |
6.04% p.a.based on $30,000 |
$250.00 |
| Unsecured Personal Loan (Fixed) |
8.99% p.a. |
10.73% p.a.based on $10,000 |
$250.00 |
Secured car loan
If you are in need of a personal loan for a new or used car priced at $20,000 or over (or are thinking of refinancing your car loan for a lower rate), consider the People's Choice secured car loan. You can apply for a 90 day pre-approval, which will give you time to shop around and give you a clear idea of how much you’ll be eligible to borrow.
This loan is secured, meaning the car will be tied to the loan as collateral. With this security, you benefit in the form of a significantly lower rate compared to regular personal loans. Maximum loan terms are ten years, and for loans over five years, the rate will change from fixed to variable. Features of this loan include an extra loan repayment and redraw facility, plus no break fees for clearing your debt before the end date. There are zero monthly account-keeping costs, but you do need to pay a small amount when you first sign the dotted line. The People's Choice car loan also took home a 2021 Mozo Experts Choice Award for Best Car Loan.
Discounted personal loan
If you have a dream in mind that means taking out a personal loan of $10,000 up to $100,000, the People's Choice discounted loan allows you to secure the loan with a car, caravan, motorcycle or term deposit and in return you get a lower interest rate. Loan terms are between 1 and 10 years, plus borrowers can choose from a weekly, fortnightly or monthly repayment schedule. There is also the option to make extra repayments and redraws.
Like with the car loan option mentioned above, fixed rates are available for up to 5 years and will revert to a variable rate for any remaining time left on the loan afterwards.
Unsecured personal loans
People’s Choice also has a standard unsecured personal loan if you are looking to borrow between $2,000 and $40,000. The interest rate is higher on an unsecured loan because it isn’t tied to an asset. It has a fixed rates and the maximum loan term is seven years. There are also handy repayment and redraw facilities for you to use at your convenience and if you decide to finalise your loan before the term ends, People’s Choice won’t penalise you for it in fees. Just remember to factor in the small sign up cost when budgeting for your loan.
It’s a straightforward process applying for a People’s Choice personal loan. All you need to do is hop online and start filling out your details, and People’s Choice will get back to you as soon as possible. You can also take out one of these loans at a branch or complete the application over the phone.
To apply for a personal loan with People’s Choice you will need:
Mozo users have rated People's Choice personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
I have been with the Credit Union for 26 years, and have always had a great experience when it came to lending.
Read full reviewI have been with the Credit Union for 26 years, and have always had a great experience when it came to lending.
They go above and beyond with their customer service when helping you, and nothing is too much trouble for them. they really try to help
Read full reviewThey go above and beyond with their customer service when helping you, and nothing is too much trouble for them. they really try to help
I like this credit union as it has competitive personal loan rates. Even better rates if you spend over 20G on a new car! Is easily accessible in NT and SA, not so good in other states! I make higher payments regularly which enables me to redraw funds when times are tight! The customer service is very efficient and effective.
Read full reviewI like this credit union as it has competitive personal loan rates. Even better rates if you spend over 20G on a new car! Is easily accessible in NT and SA, not so good in other states! I make higher payments regularly which enables me to redraw funds when times are tight! The customer service is very efficient and effective.
Horrible to get in contact with. Ringing gets rejected. Slap you with a heap of interest at the beginning of the loan so the "discount" is pointless. Will never bank here again.
Read full reviewHorrible to get in contact with. Ringing gets rejected. Slap you with a heap of interest at the beginning of the loan so the "discount" is pointless. Will never bank here again.