People's Choice Credit Union personal loans

People's Choice Credit Union
People's Choice Credit Union's overall rating for personal loans

(as rated by the Mozo community)

7.7 / 10

based on 96 reviews

Since starting up through the merging of Australian Central and Savings and Loans back in 2009, People’s Choice has become one of the largest credit unions in the country. Instead of operating on a shareholder system, it’s owned  by members, where profits are used to provide better products and services to its customers. When it comes to personal loans, People’s Choice Credit Union has four available to suit a range of financial dreams. Read on to learn more about them...

People's Choice Credit Union offers the following personal loans

Rates and fees verified as correct at 09 August, 2020. Other information correct at the time of writing.

Product Interest rate from Comparison rate from* Upfront fee

4.65% p.a.

4.99% p.a.based on $30,000
over 5 years


7.99% p.a.

8.35% p.a.based on $30,000
over 5 years


Low Rate Unsecured Personal Loan (Fixed)
People's Choice Credit Union

9.99% p.a.

11.74% p.a.based on $10,000
over 3 years


Unsecured Personal Loan (Fixed)
People's Choice Credit Union

13.99% p.a.

15.78% p.a.based on $10,000
over 3 years


*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. WARNING: 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

What personal loans do People's Choice Credit Union offer?

Secured car loan

If you are in need of a personal loan for a new or used car priced at $10,000 or over (or are thinking of refinancing your car loan for a lower rate), consider People's Choice Credit Union 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. Plus, if you choose to buy a brand new car over $20,000, you’ll even get a “special rate”. 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.

Discounted personal loan

If you have a dream in mind that means taking out a personal loan of $10,000 or more, People's Choice Credit Union’s 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.

Unsecured personal loans

People’s Choice Credit Union also has a standard unsecured personal loan if you are looking to borrow $2,000 or more.  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.

People’s Choice Credit Union personal loan features at a glance

No monthly fees: 

Having to pay for monthly fees can be a pain, but the nifty thing about People’s Choice Credit Union personal loans is that there are none.

Repayment flexibility: 

These personal loans can be convenient to pay off because you have the choice between weekly, fortnightly or monthly repayments.

Extra repayments: 

If you want to lower the cost of what you end up paying in interest on your loan, People’s Choice allows you to make extra repayments.

Redraw facility: 

You can use a redraw facility and dip into any extra repayments you’ve made online or in person (at a branch) for free. There is a minimum redraw amount, so be sure to check with People’s Choice before committing to one of these loans if this is a factor important to you.

90 day pre-approval: 

You can apply for a 90 day pre-approval on your loan which is useful for secured loan types where you’re looking to order a car.

People’s Choice Credit Union customer reviews:

To find out what People’s Choice Credit Union’s rates, fees and customer service is like in relation to its personal loans, you can visit Mozo’s customer reviews section.

How do you apply for a People’s Choice Credit Union personal loan?

It’s a straightforward process applying for a People’s Choice Credit Union 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:

More helpful personal loan quick links