Rates and fees verified as correct at 03 August, 2021. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|New Vehicle Loan (Fixed)|| |
4.99% p.a.based on $30,000
|Secured Personal Loan (Variable) (Fixed)|| |
7.00% p.a.based on $30,000
|Unsecured Personal Loan (Variable) (Fixed)|| |
9.01% p.a.based on $30,000
Southern Cross Credit Union offers both a secured and unsecured personal loan option to customers. Across both variations loan terms range from 3 to 7 years, there is the option of weekly, fortnightly or monthly repayments (with extra repayments allowed) and no exit or early repayment penalty.
With the secured loan, customers can borrow between $5,000 and $150,000 and receive a lower variable interest rate. The catch is because the loan is secured, borrowers must put either their property or a vehicle up as collateral. On the other hand, if you want a loan that requires no collateral the unsecured loan option might be suitable. But keep in mind, loan terms only go up to $30,000 and the variable interest rate is higher.
Also remember, no matter if you choose the secured or unsecured option you will need to budget for an upfront application cost.
After a car loan instead? Southern Cross Credit Union has that on offer too!
This loan has the same borrow amounts, loan terms, features and fees as the secured loan option, however it is designed for the purchase of a vehicle. Meaning the car you intend to buy using the loan is put up as collateral.
Southern Cross Credit Union’s car loan has the lowest variable interest rate on offer for personal loans from this lender.
Repayment schedule options: Across all Southern Cross Credit Union personal loans there is the option to make weekly, fortnightly or monthly repayments.
Unlimited extra repayments: On top of regular repayments, borrowers can make unlimited extra repayments on their Southern Cross Credit Union personal loan.
No early repayment penalty: Some lenders charge an early repayment penalty or ‘break cost’ if a borrower pays down their loan ahead of time. No Southern Cross Credit Union personal loans have this fee attached to them.
Southern Cross Credit Union offers online personal loan applications that take around 10 minutes to complete. There is also the option for over-the-phone support if you need it.
Here’s what you’ll need when you apply:
Personal details: name, date of birth, citizenship
Address details: including contact details like your mobile and email
Income and employment details: including employment status and an outline of any assets you have
Expenditure information: any loans you have, credit cards, living expenses etc.
Mozo users have rated Southern Cross 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.
Southern Cross is an excellent small based community credit union with great services!Read full review
Southern Cross is an excellent small based community credit union with great services!
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