8.2 / 10

based on 157 reviews as rated by Mozo community

Police Credit Union personal loans

In the market for a personal loan? Well then, why not take a look at what’s on offer from Mozo Experts Choice Personal Loan Lender of the Year, Police Credit Union.

There are a range of personal loans on offer, so whether you’re buying a new car, taking a holiday, getting stuck into some renovations or consolidating your existing debt, there’s an option to suit your needs. And don’t let them name fool you - anyone can take out a personal loan with Police Credit Union, not just members of the police force.

Check out the details of these award winning personal loans below.

Police Credit Union offers the following personal loans

Rates and fees verified as correct at 30 November, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Debt Consolidation Loan (Fixed, Unsecured)

12.90% p.a.

13.19% p.a.based on $30,000
over 5 years

$195

Debt Consolidation Loan (Fixed, Unsecured)

11.90% p.a.

13.25% p.a.based on $10,000
over 3 years

$195

Fixed Rate Car Loan (Secured)

6.69% p.a.

6.96% p.a.based on $10,000
over 3 years

$195

Fixed Rate Car Loan (Secured)

4.69% p.a.

4.96% p.a.based on $30,000
over 5 years

$195

Low Rate Car Loan (Secured, Variable)

4.69% p.a.

4.96% p.a.based on $30,000
over 5 years

$195

Personal Loan (Fixed, Unsecured)

6.90% p.a.

7.17% p.a.based on $30,000
over 5 years

$195

Personal Loan (Fixed, Unsecured)

9.90% p.a.

11.26% p.a.based on $10,000
over 3 years

$195

Solar Eco Loan (Variable, Unsecured)

4.69% p.a.

4.69% p.a.based on $30,000
over 5 years

$0

Variable Rate Car Loan (Secured)

6.99% p.a.

7.26% p.a.based on $30,000
over 5 years

$195

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.

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.

FAQs about Police Credit Union Personal Loans

What are the advantages to a fixed interest rate?

The main advantage of choosing a personal loan with a fixed interest rate is a sense of certainty about what you’ll be paying and when. Since your interest rate won’t be affected by changes in the market, your repayments will be the same for the life of the loan. You’ll know exactly what you have to pay back each month, which makes sorting out your future household budget much easier.

What are the downsides to a fixed rate loan?

The flip side of that security, is that if market interest rates go down during your loan term, you won’t see the benefit in lower repayments.

It also means that if you decide to pay your loan off early by taking advantage of Police Credit Union’s extra repayments feature, you’ll have to pay an early repayment penalty.

Are there any fees to consider?

Yes. Nearly all Police Credit Union personal loans come with an upfront application fee, although the good news is that there are no ongoing service fees to worry about. Keep in mind there’s also a $15 late payment fee - but this can be easily avoided by setting up automatic repayments.

How much can I borrow with a Police Credit Union personal loan?

Your possible loan amount will depend on your personal financial situation. For debt consolidation or general personal loans, there’s no minimum or maximum amount you can borrow. On both variable and fixed rate car loans, however, loan amounts start at $5,000.

When you choose a loan amount, you should always plan ahead and make sure you can handle the repayments it will require. Check out our personal loan repayments calculator to see how much repayments will be on different loan amounts.

What’s the difference between a secured and unsecured loan?

If you take out a secured loan, you’ll need some kind of asset, such as a vehicle, property, boat or caravan, to put up as security against the loan. That means that if you default and can’t make repayments, the lender can repossess your asset. On an unsecured loan, this isn’t necessary - although the tradeoff is that you’ll usually get a slightly higher interest rate on an unsecured loan.

With Police Credit Union, only car loans require security, which comes in the form of the vehicle you’re buying.

What should I know about a debt consolidation loan?

A debt consolidation loan is a strategy for combining other loans and even credit card debt into one easy to manage loan. That way, you’ve only got one interest rate and one set of repayments to manage each month. Plus, if you pick a consolidation loan with a low, fixed interest rate, you’ll know your exact monthly repayment amount and you can plan to pay off your debt effectively over the loan term.

For more information, you can check out our guide on debt consolidation loans.

How are Police Credit Union personal loans rated?

Mozo users have rated Police 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
Police Credit Union personal loans
Overall
7.5/10
Price
Features
Customer service
Convenience
Trust

10 Reviews

Recent Police Credit Union personal loan reviews

Police Credit Union Personal Loan review
Overall 9/10
Friendly staff. Attentive and approachable. Great

Terrific service and staff. Loan was hassle free and my bank took care of the majority of paperwork.

Read full review

Terrific service and staff. Loan was hassle free and my bank took care of the majority of paperwork.

Price
9/10
Features
9/10
Customer service
10/10
Convenience
7/10
Trust
10/10
Less
Rob, New South Wales reviewed over 4 years ago
Police Credit Union Personal Loan review
Overall 10/10
Second to none customer service

From the day we went to this bank for help to reconsolidate our debt we were met with a bank manager who bent over backwards to find a product that worked for us. We got an interest rate that I have never seen as good anywhere else in the 3 years we have had it. Every time we had a question we could easily get in touch and received a fast response. We felt like the manager "knew us" and would ask after our children or health. Cannot recommend them highly enough.

Read full review

From the day we went to this bank for help to reconsolidate our debt we were met with a bank manager who bent over backwards to find a product that worked for us. We got an interest rate that I have never seen as good anywhere else in the 3 years we have had it. Every time we had a question we could easily get in touch and received a fast response. We felt like the manager "knew us" and would ask after our children or health. Cannot recommend them highly enough.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Erin, South Australia reviewed about 5 years ago
Police Credit Union Personal Loan review
Overall 8/10
I have always banked with PCU, total confidence

I have always banked with PCU. I have total confidence in their products and advice.

Read full review

I have always banked with PCU. I have total confidence in their products and advice.

Price
7/10
Features
7/10
Customer service
8/10
Convenience
3/10
Trust
8/10
Less
Victoria, reviewed over 6 years ago
Police Credit Union Personal Loan review
Overall 10/10
Fantasic rates, top customer service, flexible

We had the BEST customer service by Karen at the Marion Branch SA. Every person we spoke to on the phone there was extremely helpful and always followed up on requests. If information couldnt be given to us straight away they would still call us to let us know they were chasing it up still. The rates were MUCH lower than anywhere else and for people like us who were struggling it was great that we could use our car as partial security as they recognised giving us the loan would put us in a better position financially. No other bank seemed to understand that. We will consider moving our home loan over when it is out of a fixed rate.

Read full review

We had the BEST customer service by Karen at the Marion Branch SA. Every person we spoke to on the phone there was extremely helpful and always followed up on requests. If information couldnt be given to us straight away they would still call us to let us know they were chasing it up still. The rates were MUCH lower than anywhere else and for people like us who were struggling it was great that we could use our car as partial security as they recognised giving us the loan would put us in a better position financially. No other bank seemed to understand that. We will consider moving our home loan over when it is out of a fixed rate.

Price
10/10
Features
9/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Warren, South Australia reviewed over 7 years ago

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