Personal Loan

Having money for the things that you want and need in life is great! At the Illawarra Credit Union we help our members with Personal Loans for many different purposes. Contact us to find out more and remember

We will not be beaten in offering you the Best Value Unsecured Personal Loan.

 
Purpose

Loans are to be used predominantly for personal purposes.

Secured
Unsecured
Any worthwhile personal purpose and the borrower offers the following assets as security:
Any worthwhile personal purpose
Car new or used (up to 5 years old)  
Motorbike new  

 
Interest Rate
Term
Secured
Unsecured
12 to 60 months
12 to 60 months
Repayments

Principal and interest.
Repayments are quoted as monthly repayments but members may make a reduction on a weekly, fortnightly, monthly basis.
Interest only option

Not available
Redraw

No fees apply

Repay loan early

 

Features
An option of either fixed or variable rates
Redraw
No monthly fees
Can redraw advance repayments
Flexible repayments monthly, fortnightly or weekly
Loan repayment insurance available
 
Loan amounts
Unsecured
Minimum
$2,000
Maximum
subject to approval
     
Secured
Minimum
$10,000
Maximum
subject to approval

Repayment Methods
Funds may be deposited to the account via:
Payroll deposit
Direct credit
Internet transfer
Branch deposit

Eligibility:

Available to personal borrowers only.
Applicants are to be:
Over 18 years of age
Receive a regular income
Are a resident of Australia.

Special conditions:

Standard lending criteria applies to applicants residing in NSW.
For applicants outside NSW stricter criteria applies due to the local nature of our business.

Security

Where the personal loan is sought on a secured basis, security is to be a Bill of Sale over an acceptable vehicle as described above.

In all cases the secured asset is to be covered by comprehensive insurance and the first years insurance premium can be financed by the loan.

Fees:

Refer to Credit Fees & Charges schedule for current details.
Application fee applies
Stamp Duty may be applicable depending on State Government thresholds and requirements.

***Interest rates effective 15 August 2008