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online personal loan




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What's included in the package

Click on the package features below to find out how they’ll benefit you:

Online Secured Personal Loan 1
Offset transaction account 2
Visa Debit Card
Online banking & eStatements

Unbelievable loan features

Learn more about our personal loan features, by clicking on the features below:

Direct repayments from Offset account
Redraw facility
Penalty-free repayment options
Low interest rate

Ridiculously Good Rates

secured variable rate


comparison rate*


Calculate your repayments

Find out how much your personal loan repayments could be.

first off, what would you like to buy?
Jet ski
calculate your repayments

Getting Started

Here’s what you need to know when you’re ready to apply.

  1. Complete the short form online.
  2. We’ll be in touch within one business day to verify your details and request some information from you. We’ll need a couple of documents, including pay slips and documents to prove your identity, like your driver’s license and Medicare card. We may also request some additional documents such as other income related documents or credit card or loan statements.

Have you thought about insurance? Don’t worry, we’ve got you covered!

Take out QBE insurance with us and you'll get a 5% rebate on your first annual insurance premium! 3

We’re offering package holders a special offer on QBE insurance for your new purchase. That’s right; if you take out the Online Personal Loan Package, you’re eligible to receive a 5% rebate on your first annual QBE insurance premium when taken out through us 3.

If you’re looking for insurance for your new car, bike, caravan, or pleasure craft, look no further.

More Info

What’s an offset account?

An offset account is a transaction account which is linked to your loan and also helps you reduce the interest you pay. Your loan account balance is reduced by the balance of your offset account for the purpose of calculating interest. For example, if you had a loan balance of $25k, and $10k in your offset account, you would only pay interest on $15k of your loan balance.

Your offset account will provide you access to your money anytime, anywhere with your Visa Debit Card, plus access to Osko® BPAY® and direct debit payments and more!

How do I make loan repayments?

All repayments must be made via your PL Offset account. Once your loan is approved one of our consultants will setup a recurring transfer from your offset account so you can simply set and forget as long as you have enough money in your account.

How much are my repayments?

Your loan repayments will vary depending on the amount you borrow and term of your loan. Check out the calculator above to see how much you could borrow.

What’s the difference between a variable and fixed rate personal loan?

A variable product means that your interest rate may change throughout the term of your loan, as it’s influenced by the market. While a fixed interest rate means you’ve locked in a rate for the duration of your loan.

The Online Secured Personal Loan is a variable product. If you’d like to take a look at our fixed rate personal loan products, you can check them out here.

What’s the difference between a secured and unsecured loan?

Our Online Secured Personal Loan requires you to secure the loan with the asset you are purchasing, such as your car, bike, caravan, or new jet ski.

On the other hand, an unsecured loan does not require you to secure your loan with an asset. You can view our unsecured fixed personal loan here.

What security is required?

The loan will be secured against the item you’re purchasing. You’ll also need comprehensive insurance for it to qualify; you can arrange this through the Credit Union or through another insurer of your choice. If you take out the Online Personal Loan Package, you’ll be eligible for a 5% rebate off your first premium on QBE insurance when taken out through the Credit Union.

What’s a redraw facility?

It’s a feature of your loan which will allow you to redraw any additional repayments you’ve made to your loan, without paying a fee!

Can I pay off my loan early without paying a fee?

Absolutely! Our Online Secured Personal Loan allows you to pay off your loan as quickly as you’d like without paying a fee. It allows you to be in control of your finances and take control of your money, your way.

What’s a comparison rate?

A comparison rate allows you to compare loans from different financial institutions. It includes most fees and charges relating to the personal loan and helps you work out the true cost of the loan. Check out ASIC’s MoneySmart definition here.

How do I know if I’m eligible for the online personal loan package?

You’ll need to get in touch with us to ensure you meet our standard lending criteria. Check the eligibility criteria in the Online Personal Loan Package Conditions of Use.

Are there any ongoing fees?

There is a $5 personal loan fee which will be charged monthly to your PL Offset account. To find out more, view our Fees, Charges and Transaction Limits brochure.

What is Consumer Credit Insurance (CCI)?

In the event something happens and you’re unable to make your repayments, CCI insurance can help you make your loan repayments. Take a look at our CCI offer here.

Important Notes

Terms and Conditions apply. See the Online Personal Loan Package Conditions of Use.
1 Credit eligibility criteria, terms and conditions, fees and charges apply.
Illawarra Credit Union is the issuer of the offset account. Please refer to the Account and Access Facility Conditions of Use and Fees, Charges and Transaction Limits brochure.
*Comparison rate is calculated on a secured loan amount of $30,000 over a term of 5 years.
**Comparison rate is calculated on an unsecured loan amount of $30,000 over a term of 5 years.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Eligibility criteria, terms & conditions, fees & charges apply. Please refer to the Credit Fees and Charges brochure.
3 5% rebate only applies to the first annual premium. Illawarra Credit Union, a division of Community Alliance Credit Union Limited as a holder of Australian Financial Services Licence 245576, can issue, vary, renew and cancel insurance policies under a ‘binder’ provided by the Insurer. A ‘binder’ is an agreement that allows Community Alliance Credit Union, as agent of the Insurer, to enter into contracts of insurance on behalf of the Insurer. This means that the insurance policy issued to you by Illawarra Credit Union, is binding on the Insurer just as if it had issued the policy itself. Insurance policies are issued by QBE Insurance (Australia) Ltd ABN 78 003 191 035 AFSL 239545. Before making a decision about your insurance needs please refer to the Motor Vehicle Product Disclosure Statement, Caravan Product Disclosure Statement, or Pleasure Craft Product Disclosure Statement insurance available from Illawarra Credit Union. Illawarra Credit Union will not be held responsible for the information contained within a site accessed via this site. Should you enter another site through such links, the content will not have been produced, checked for accuracy, or reviewed by the Credit Union. Any endorsements or any opinions offered are not necessarily those of the Credit Union.

This information is of a general nature only and does not take into consideration your individual objectives, financial situation or needs. Consider whether the information is suitable for your objectives, financial situation and needs before making any decision about whether to acquire the product.

BPAY® is a registered trademark by BPAY Pty Ltd ABN 69 079 137 518.
Osko® is a registered trademark by BPAY Pty Ltd ABN 69 079 137 518.

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  • Details about your income and expenses
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