Very low interset rate, very easy to apply and people very friendly and helpful. Bank opening hours and phone help hours are not very convenient but I'm willing to sacrifice in order for cheaper interest.
I have been paying off and topping up personal loans for 25+ years, paying them off then re-financing etc. I had a 100% perfect credit history for 25 years and this year I fell on hard times financially due to my daughters medical needs and I requested to reduce my repayments for the short term whilst I got through this time and they declined and made things really difficult for me, forcing me to go to court to get it while my daughter was in the hospital.
There have been no pros or cons, the PCU took time to explain everything about my loan and offered alternatives to reduce fees and charges. Friendly and prompt service has never been a problem and a personalised letter form the local manager is sent to me if any offers come about that may benefit my needs...yes personalised!! The website and online services are exceptional and simple to setup, kept simple and uncluttered is very appealing to the less computer savvy people. I constantly recommend the Police Credit Union, I have been with many banks over the years but after 10 years I wont change again.
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Personal loan comparisons on Mozo - rates updated daily
Low Rate Personal Loan
8.21% p.a.based on $30,000 over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.00% would cost $36,647.51 including fees.
*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.
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