8.4 / 10

based on 79 reviews as rated by Mozo community

Unity Bank personal loans

Operating since 1970, Unity Bank, formerly known as Maritime, Mining & Power Credit Union, is a member owned co-op, committed to delivering awesome financial products to its members.

Anyone can apply to be a member, so if you’re after a personal loan to fund your next spending goal, check out the details below.

Unity Bank offers the following personal loans

Rates and fees verified as correct at 24 November, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Car Loan (3 to 7 years old, Fixed, Secured)

9.99% p.a.

10.62% p.a.based on $30,000
over 5 years

$200

Car Loan (3 to 7 years old, Variable, Secured)

7.99% p.a.

8.62% p.a.based on $30,000
over 5 years

$200

Car Loan (Up to 3 years old, Fixed, Secured)

7.99% p.a.

8.62% p.a.based on $30,000
over 5 years

$200

Car Loan (Up to 3 years old, Variable, Secured)

5.99% p.a.

6.63% p.a.based on $30,000
over 5 years

$200

Consolidator Loan (Variable, Unsecured)

13.99% p.a.

14.54% p.a.based on $30,000
over 5 years

$150

Personal Loan (Fixed, Unsecured)

9.99% p.a.

10.55% p.a.based on $30,000
over 5 years

$150

Personal Loan (Variable, Unsecured)

9.99% p.a.

10.55% p.a.based on $30,000
over 5 years

$150

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.

Overview of Unity Bank personal loans

Car loan

After a new set of wheels? At Unity Bank, there’s a fixed or variable rate loan option to make it happen. The minimum loan amount is $10,000, and the maximum term to pay it off is 10 years. You’ll get the option to make free extra repayments, as well as use the free redraw facility. But remember, there’s both an upfront application and monthly service fee to pay, and you will have to put the vehicle you’re buying up as security against the loan.

Unsecured personal loan

Looking at a kitchen renovation, overseas holiday or maybe a new boat? With an unsecured personal loan from Unity Bank, you can borrow amounts starting at $500, for a term of up to 7 years. There’s a fixed or variable rate option available, and you won’t have to put up any assets as security. Pay off the loan quicker by making extra repayments, and don’t forget you can also make use of the free redraw facility. Keep in mind there’s an upfront application plus an ongoing service fee to consider.

Consolidator loan

If you’re looking to consolidate your existing debt into one easy to manage loan, the consolidator loan from Unity Bank might be perfect. With a minimum loan amount of $2,000 and terms of up to 7 years, this is a variable rate, unsecured loan.  You can make free extra repayments and use the free redraw facility, as well as choosing your own repayment schedule. Just don’t forget to factor the cost of the upfront application and ongoing service fee into the cost of the loan.

Unity Bank personal loan features at a glance

How to apply

To apply for a loan with Unity Bank, you’ll have to be over 18 and an Australian citizen or permanent resident. You’ll have to supply details about your finances, including employment, debts and assets. Also, don’t forget to bring I.D., like your Driver’s licence or passport.

The last thing you should remember when applying for a loan with Unity Bank, is that you’ll need to become a member. This means buying a $10 membership share, which can be refunded if you ever decide to stop banking with Unity Bank.


How are Unity Bank personal loans rated?

Mozo users have rated Unity Bank 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
Unity Bank personal loans
Overall
8.8/10
Price
Features
Customer service
Convenience
Trust

9 Reviews

Recent Unity Bank personal loan reviews

Unity Bank Personal Loan review
Overall 10/10
Amazing

Simply the best.

Read full review

Simply the best.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Jack, South Australia reviewed about 2 years ago
Unity Bank Personal Loan review
Overall 10/10
Excellent customer service with great products

I have been with this provide for 22 years and they have always looked after me and treated me like a person. They go above and beyond in looking after me with no issues.

Read full review

I have been with this provide for 22 years and they have always looked after me and treated me like a person. They go above and beyond in looking after me with no issues.

Price
9/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Sarah, New South Wales reviewed about 5 years ago
Unity Bank Personal Loan review
Overall 7/10
Great customer service

Being a single mother the credit union was the only financial institution that would look at me for car finance. Their rates are far cheaper than the finance companies most unemployed people have to go to.

Read full review

Being a single mother the credit union was the only financial institution that would look at me for car finance. Their rates are far cheaper than the finance companies most unemployed people have to go to.

Price
7/10
Features
7/10
Customer service
10/10
Convenience
8/10
Trust
8/10
Less
Cheryl, New South Wales reviewed almost 6 years ago
Unity Bank Personal Loan review
Overall 5/10
Good provider, very helpful.

Were very helpful in consolidating debts into one easy to manage personal loan. Personal loan has good redraw facility and allows you to pay additional off the loan

Read full review

Were very helpful in consolidating debts into one easy to manage personal loan. Personal loan has good redraw facility and allows you to pay additional off the loan

Price
5/10
Features
6/10
Customer service
5/10
Convenience
4/10
Trust
7/10
Less
Naomi, New South Wales reviewed over 7 years ago

Personal loan quick links