Much better interest rates can be found. The process is long and frustrating. Trying to contact the branch directly resulted in about a dozen calls going through to the answering machine and none being returned.
Overall I find it a very convenient personal loan. As it is a flex loan, it allows me to take only what I need, up to $10,000, and only pay interest on the amount I have borrowed. When I have no money owing, it is not closed, but stays available for me to use like a credit card. One negative would be that the interest rates went up 4% after the first year and the monthly service fee also went up by $3. This encourages me to use it much less often.
CBA has always been my bank, I have trust in the bank and its products and they are fair and reputable.
The staff were polite and helpful. The product was explained in detail. The application process was smooth!
Have been very flexible with all my loan needs. Have been very happy with the service that I have received.
CUA are a very easy bank to deal with. Their interest rates are much lower than other banks (Especially the major banks... Upwards of 5% or 6%), and the app I use for the bank is incredibly easy to use and is very secure. Instant transfers (literally instant) are a great way of spruiking what they have.
Fast easy personal loan possess. Can sign up online which is a plus. Rewards with travel insurance which has come in handy! Cons are if your young and don't really know how a loan works you have to do a lot of digging rather then the information being there! E.g. what happens if you miss a payment, monthly fees etc
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Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.75% would cost $35,790.18 including fees.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.00% would cost $36,647.51 including fees.
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 7.65% would cost $36,196.75 including fees.
Terms from 2 to 3 years. Representative example: a 3 year $10,000 loan at 7.50% would cost $11,534.19 including fees.
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 7.95% would cost $37,049.45 including fees.
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