I tried to get a car loan from this organisation and was asked for at least 20 forms of identification and proof of earnings and savings. It took nearly two weeks with new requests from them everyday. I went with another lender and got a loan approved within 4 hours after supplying the relevant documentation. We had two very good wages. I rang SMB and told them to cancel everything.
I wanted to pay out the loan, got a quote and then got another. I had to get it from the dealer. It turned out the dealer increased the rate and gave me a residual to keep the price down. It was 1% but how was I going to prove anything. I did expect that a high profile car distributor would be more responsible.
We are helping you Peter yes but you do have your hand in my pocket. At the time the payout came around , the phone operator gave me a value I should ask for and it was at least $5000 less. Out of touch to the industry and certainly the clients.
As soon as I walked in the door I was greeted with a smile and great conversation. The branch manager sat down with me and explained everything to me and told me all my options and what would be best for me for now and in the future. The advice he gave me helped me to decide about a number of things concerning my finances.I opened up an acc with them straight away as well. I also did my car insurance threw them as well. The list goes on.
The Sydney Credit Union is a great bank, they were very helpful when I was applying for my personal loan, they talked through different packages available and worked out the best one for me financially. They set out a month by month payment plan. As this was my first loan, they were extremely helpful in explaining the contract and terms and conditions. There telephone contact line is open long hours, my particular branch was open standard banking hours and the webiste is avaialable 24 hours for information. The website is extremely easy to navigate around. The main positives about this bank is there extremely friendly and helpful service, as well as the very competetive interest rates. I would recommend this bank to all of my family and friends.
My local branch have relocated to a huge shopping complex, it is inconvenient to use the ATM, when the shopping complex is closed there is no access to the ATM, since my Credit Union which used to be Prospect Credit Union merged with other Credit Unions and changed to Sydney Credit Union I have really noticed the impersonal approach they now have, I have never been happy with their interest rate for personal or car loans as they are much higher than elsewhere, the amount of time it takes to clear cheques and funds remains four days which is two days longer than other institutions, ultimately I am now looking to change my main financial institution.
There's no attempt to sweet-talk you into something you don't need or borrow more than you need; unlike the pressure tactics used by the bigger banks.
They are also very understanding and communicative should a situation arise where you can't make payment; I've experienced some of the bigger banks before on this and they just plain don't care, no matter what the situation, causing financial pain unreasonably.
Just how Sydney credit Union take money out of your account to pay off personal loans twice in one week leaving me with no money, then when i talk to them they won't let me transfer my own cash back into my personal loan account because of their mistake
New South Wales,
reviewed about 11 years ago
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Personal loan comparisons on Mozo
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Unsecured Personal Loan
7.95% p.a.to 19.45% p.a.
8.78% p.a.to 20.4% p.a.based on $30,000 over 5 years
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 7.95% would cost $37,049.45 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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