Rates and fees verified as correct at 26 October, 2021. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|Credit Card Crusher (Variable, Unsecured)|| |
10.27% p.a.based on $30,000
|FastRoad New Car Loan (up to 3 years old) (Variable)|| |
5.29% p.a.based on $30,000
|FastRoad Used Car Loan (over 3 years old) (Variable)|| |
7.80% p.a.based on $30,000
|GreenRoad - Hybrid & Electric Cars (Variable)|| |
5.04% p.a.based on $30,000
|Travel Loan (Unsecured, Variable)|| |
10.02% p.a.based on $30,000
|Unsecured Personal Loan (Variable)|| |
8.99% p.a.to 15.25% p.a.
9.27% p.a.to 15.55% p.a.based on $30,000
Unsecured Personal Loan
Transport Mutual Credit Union offers an unsecured personal loan product that comes with a variable rate and allows customers to borrow up to $30,000. The loan can be paid back over 1 to 7 years and there is the choice of a weekly, fortnightly or monthly repayment schedule. Plus, extra repayments and redraws are also available, and for customers that pay down their entire loan ahead of time there are no break costs.
There are also no ongoing monthly service or exit fees attached to this loan, just keep in mind there is a one-off application charge straight off the bat.
The Transport Mutual Credit Union car loan can be used for new or used vehicles. Like the personal loan option, this product comes with a variable interest rate. For cars under 3 years old the interest rate is lower than that of cars over 3 years old. Plus, the upfront application fee is slightly higher for cars older than 3 years.
This car loan allows customers to borrow anywhere upwards of $5,000 to purchase a car. Loan terms range from 1 to 7 years and can be paid back on a weekly, fortnightly or monthly basis. Extra repayments and redraws are also allowed, plus there is no ongoing monthly, exit or early repayment charges.
There is also a green loan car option available too.
Transport Mutual Credit Union won a 2021 Mozo Experts Choice Award in the Best Car Loan category.
If a travel loan is what you are after, Transport Mutual Credit Union has one that might suit what you need. It is a shorter loan (between 1 and 2 years) and can go up to $30,000 to cover travel costs. It is unsecured meaning you do not need to put up assets as collateral.
Repayments can be made weekly, fortnightly or monthly and there is the option to make extra repayments too. Just bear in mind there is no redraw facility attached to this loan option. When it comes to fees there are no ongoing monthly service fees, exit or break costs, but there is a one-off application charge.
Credit card debt consolidation
For customers looking to clear credit card debt, Transport Mutual Credit Union offers up a product that is designed to help borrowers do so at a lower variable interest rate. Loans go up to $30,000 and terms range from 1 to 5 years.
Like the unsecured personal loan option, there are a bunch of repayment schedule options and extra repayments and redraws. Like on all Transport Mutual Credit Union personal loans there are minimal fees to worry about - just remember the upfront application cost.
Repayment schedule options: On all Transport Mutual Credit Union personal loans, weekly, fortnightly or monthly repayments are accepted.
Extra repayments: Customers have the option to make extra repayments on their Transport Mutual Credit Union personal loan whenever they like.
Redraw facility: Most Transport Mutual Credit Union personal loans also come equipped with a redraw facility. This allows customers to access their additional contributions later on if they need to.
No early repayment penalty: Unlike some personal loans, Transport Mutual Credit Union personal loans don’t have an early repayment penalty or “break cost” for borrowers that pay down their entire loan ahead of time.
Applying for a Transport Mutual Credit Union can be done online, or you can speak to a representative on the phone if you need assistance.
There are a few things you’ll need to have when you apply for a personal loan:
3 recent payslips
Proof and source of income
Recent home loan or other loan statements
Recent credit or store card statements
Current rental lease (if applicable)
3 months worth of everyday banking statements