Rates and fees verified as correct at 25 November, 2020. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|Car Loan (Fixed, Secured)|| |
8.39% p.a.based on $30,000
|Unsecured Personal Loan (Fixed)|| |
11.08% p.a.based on $30,000
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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Fixed rate car loan:
For those considering taking out a personal loan to buy a new or used car under 12 years old, the Suncorp car loan has a competitively low fixed rate. The new set of wheels is tied to the loan as security, and in return you’ll pay less in interest. Loan amounts begin at $5,000 to $80,000 and the fixed rate means your repayments are consistent through a term of up to seven years. While you can make extra repayments, consider the early loan repayment penalty fee. Suncorp’s application and monthly costs are low, plus you can take out a consumer credit insurance policy to cover your repayments in the case of temporary disability or death (for more details on this option visit Suncorp online).
Unsecured personal loan:
Suncorp offers two types of unsecured personal loans to help finance dreams with price tags between $5,000 and $80,000. If you prefer to have the peace of mind that your repayments will stay the same, you might like the fixed rate personal loan. On the other hand, while the variable version has a slightly higher interest rate it can change at any point during the loan term (which could work in or against your favour). There’s no need to secure either loans against an asset, so you pay slightly more in interest than Suncorp’s car loan detailed above. Extra repayments are fine to make during a loan term, which can range between one and seven years. Keep in mind that penalty fees come into play for wiping off debt before the full loan amount is due. Just like the Suncorp car loan there are low monthly fees and a signup cost to begin with. You can also take out a consumer credit insurance policy for a premium price.
Suncorp personal loan applications can easily be done online. You’ll need to have all the things listed below at hand to include in your online application. Personal loan applications can also take place over the phone or at any Suncorp branch. The turnaround is usually quick depending on your credit history and financial situation.
To apply for a personal loan with Suncorp you will need:
Mozo users have rated Suncorp personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
Fixed interest rate at around 15% was ridiculous. Plus monthly account keeping fees. When compared with others I was disappointed.Read full review
Fixed interest rate at around 15% was ridiculous. Plus monthly account keeping fees. When compared with others I was disappointed.
It was hard to obtain the personal loan but once I got it things ran smoothly.Read full review
It was hard to obtain the personal loan but once I got it things ran smoothly.