8.1 / 10

based on 1640 reviews as rated by Mozo community

People's Choice Credit Union personal loans

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 31 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Discounted Personal Car Loan (Cars over $20k, Fixed, Secured)

4.65% p.a.

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

$250

Discounted Personal Loan (over 10k, Fixed, Secured)

7.99% p.a.

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

$250

Unsecured Personal Loan (Fixed)

13.99% p.a.

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

$250

Unsecured Personal Loan (Low Rate, Fixed)

8.99% p.a.

10.73% p.a.based on $10,000
over 3 years

$250

WARNING: 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. 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.

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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

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:

How are People's Choice Credit Union personal loans rated?

Mozo users have rated People's Choice 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
People's Choice Credit Union personal loans
Overall
7.7/10
Price
Features
Customer service
Convenience
Trust

96 Reviews

Recent People's Choice Credit Union personal loan reviews

People's Choice Credit Union Discounted Personal Loan review
Overall 9/10
Great customer service.

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 review

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.

Price
7/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Rachael, Northern Territory reviewed 4 months ago
People's Choice Credit Union Discounted Personal Loan review
Overall 3/10
Look elsewhere.

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.

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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.

Price
5/10
Features
1/10
Customer service
3/10
Convenience
2/10
Trust
8/10
Less
Brad, South Australia reviewed 7 months ago
People's Choice Credit Union Unsecured Personal Loan review
Overall 9/10
Highly recommended.

People's Choice have always been very helpful and approachable. I can not fault their service.

Read full review

People's Choice have always been very helpful and approachable. I can not fault their service.

Price
8/10
Features
7/10
Customer service
9/10
Convenience
10/10
Trust
9/10
Less
Stuart, South Australia reviewed 8 months ago
People's Choice Credit Union Discounted Personal Loan review
Overall 9/10
Usually helpful and friendly.

Helpful and friendly! They recently approved for a personal loan.

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Helpful and friendly! They recently approved for a personal loan.

Price
7/10
Customer service
8/10
Convenience
9/10
Trust
9/10
Less
Amanda, Northern Territory reviewed about 1 year ago

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