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Sydney Mutual Bank New Car Loan

Interest rate from
6.45% p.a.
Comparison rate from*
6.66% p.a.based on $30,000
over 5 years
Upfront fee
$150

Details

Rates and fees information correct as at 5 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Variable

  • 6.45% p.a.variable

  • 6.66% p.a.based on $30,000
    over 5 years

Fees
  • $150.00

  • $0.00

  • $50.00

  • $0.00

  • $0.00

Other financial bits
  • $10,000.00

  • $80,000.00

  • 1 Year

  • 7 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Available for used car up to 3 years old

  • none

*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.

Customer Reviews

How are Sydney Mutual Bank personal loans rated by the Mozo community?

Overall customer rating
7.5/10
Price
6.6/10
Features
5.5/10
Customer service
8.3/10
Convenience
6.6/10
Trust
7.8/10

Latest reviews of Sydney Mutual Bank New Car Loan

  • Overall 5/10
    Too many hurdles to jump.

    I tried to get a car loan from this organisation and was asked for at least 20 forms of identification and proof of earnings and savings. It took nearly two weeks with new requests from them everyday. I went with another lender and got a loan approved within 4 hours after supplying the relevant documentation. We had two very good wages. I rang SMB and told them to cancel everything.

    Read full review

    I tried to get a car loan from this organisation and was asked for at least 20 forms of identification and proof of earnings and savings. It took nearly two weeks with new requests from them everyday. I went with another lender and got a loan approved within 4 hours after supplying the relevant documentation. We had two very good wages. I rang SMB and told them to cancel everything.

    Price
    7/10
    Features
    6/10
    Customer service
    6/10
    Convenience
    6/10
    Trust
    6/10
    Less
    Harvey, Victoria reviewed 3 months ago
  • Overall 5/10
    Customer service slow

    I wanted to pay out the loan, got a quote and then got another. I had to get it from the dealer. It turned out the dealer increased the rate and gave me a residual to keep the price down. It was 1% but how was I going to prove anything. I did expect that a high profile car distributor would be more responsible. We are helping you Peter yes but you do have your hand in my pocket. At the time the payout came around , the phone operator gave me a value I should ask for and it was at least $5000 less. Out of touch to the industry and certainly the clients.

    Read full review

    I wanted to pay out the loan, got a quote and then got another. I had to get it from the dealer. It turned out the dealer increased the rate and gave me a residual to keep the price down. It was 1% but how was I going to prove anything. I did expect that a high profile car distributor would be more responsible. We are helping you Peter yes but you do have your hand in my pocket. At the time the payout came around , the phone operator gave me a value I should ask for and it was at least $5000 less. Out of touch to the industry and certainly the clients.

    Price
    3/10
    Features
    2/10
    Customer service
    3/10
    Convenience
    3/10
    Trust
    2/10
    Less
    Peter, Western Australia reviewed over 5 years ago
Sydney Mutual Bank

About Sydney Mutual Bank

SCU previously known as Sydney Credit Union creates a longer lasting relationship when it comes to banking. SCU offers great rates for customers, with accounts that have low or no fees attached. Products that SCU offer savings accounts, term deposits, debit cards, personal, car and home loans, credit cards, business finance and overdrafts facilities. SCU are generous when it comes to dealing with your money.

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