Unity Bank Personal Loan

Key features

The Unity Bank Personal Loan kicks things off with competitive variable rates from 9.99% p.a. (10.55% p.a. comparison rate*) with 1-7 year loan term options, letting you borrow as little as $500, with no maximum loan amount!

Being an unsecured loan, you won’t need to worry about potentially losing your car or other assets should you ever default on a repayment, as the Unity Bank Personal Loan doesn’t require any security items. But remember, you should still do your best to meet those repayments and avoid defaulting on the loan as it’ll hurt your credit score.

If flexibility’s what you’re after, then with the Unity Bank Personal Loan, flexibility’s what you’re going to get! Giving you the choice of either weekly, fortnightly or monthly repayments, you’ll have the freedom to work your loan repayments around your lifestyle or regular pay schedule.

On top of all this, the Unity Bank Personal Loan also comes with a bunch of other great features, like the ability to make free extra loan repayments, as well as a redraw facility, in case you ever need to dip back into those extra repayments.

Just remember this loan comes with a few different fees that you’ll need to budget for, such as the $150 application fee, $5 service fee and $20 late payment fee.

Who is it good for

With loan amounts starting from just $500 and up, the Unity Bank Personal Loan could be a great option for Aussies needing a little extra cash but who aren’t necessarily wanting to take out a huge loan.

Any catches

While you won’t need to worry about being charged an exit fee or early repayment fee, the Unity Bank Personal Loan does, however, come with a few other fees, like the $150 application fee, $5 service fee and $20 late payment fee.