
Personal Loans
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Personal loans that work best for you.
Bring your dreams and plans to reality with the help of a personal loan. Illawarra Credit Union offer a range of unsecured and, fixed or variable personal loans. Including a range of sustainable loans.
Find the right personal loan for your needs and apply online.
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Choose a personal loan that's right for you
Online Personal Loan Package
Features
Secured Fixed Personal Loan (New)
Features
Secured Fixed Personal Loan (Used)
Features
Unsecured Fixed Personal Loan
Features

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My wife and I have always had excellent and courteous service from any member of the Illawarra Credit Union that we have dealt with. Because of this, even though we now live in Goulburn, we still use this credit union for all our financial dealings.
Thomas
Let us answer your questions
A personal loan is a type of credit provided by financial institutions that can help you cover large expenses, consolidate debt, or fund major personal projects. Illawarra Credit Union offers several types of personal loans, including secured fixed loans, unsecured fixed loans, and a online personal loan package designed to meet various financial needs.
The Illawarra Credit Union offers both secured vs unsecured. Secured personal loan borrowers buying a motor vehicle, bike, boat, caravan, or pleasure craft that can be used as security against the loan, up to 5 years old (as at the date of application) anything outside of this would be an unsecured personal loan.
To be eligible for a personal loan with Illawarra Credit Union, you must be an Australian citizen, a permanent resident, or hold a valid visa. As long as you fall into one of these categories, you can apply for a personal loan. It’s important to have a stable income and maintain a good credit history to strengthen your loan application. Meeting these requirements ensures you can access the financial support you need through our personal loans.
Yes, self-employed individuals can still obtain personal loans from Illawarra Credit Union. While the application process might require additional documentation to verify income — such as tax returns or financial statements — our team is experienced in assisting self-employed applicants to secure the financing they need.
Applying for a personal loan at Illawarra Credit Union is straightforward. You can begin the application process for our easy personal loans online, visit our branch, or contact us directly to start your application. We offer secured, unsecured, and packaged personal loans, catering to a variety of borrowing needs. Our team will guide you through every step, ensuring you understand all your options.
The easiest and quickest way to secure a personal loan with Illawarra Credit Union is through our online application process. Our online personal loan package is designed for efficiency, with a straightforward application process and quick decision-making. Ensure you have all necessary documents ready, such as proof of income and identification, to speed up the approval process.
Yes, you can apply for a personal loan with Illawarra Credit Union even if you currently have another personal loan with a different lender. Your eligibility will depend on your overall financial situation and ability to manage multiple loan repayments.
Your personal loan can be paid off early; the Illawarra Credit Union does not charge an early exit fee. We also allow additional payments on Illawarra Credit Union Personal Loans.
If you decide to pay out your personal loan early, you can certainly do so. Illawarra Credit Union allows early repayment of personal loans, saving you on interest costs over time. It’s important to discuss potential fees or penalties for early repayment with us so you can make an informed decision.
Repaying your personal loan with Illawarra Credit Union can be done through several convenient methods, including direct debit from your personal bank account, online transfers, or in-branch payments. Setting up automatic payments can ensure you never miss a due date, helping you stay on track with your loan repayment schedule.
Yes, you can change the frequency of your personal loan repayments to match your income schedule.
Keeping track of your repayments on personal loans is essential for maintaining your financial health. Illawarra Credit Union offers online and mobile banking solutions called MoneyTree that allow you to monitor your loan balance, view transaction history, and check upcoming repayment dates, making it easy to stay on top of your loan.
A redraw facility on a personal loan allows you to withdraw funds you have paid above your minimum loan repayments, providing flexibility to access extra payments you’ve made. This feature is particularly useful if you need cash unexpectedly and have been making extra payments on your loan.
Making your last repayment on a personal loan is an important milestone. Once you’ve made this payment, we will review your account to ensure all costs have been processed correctly. Following this, your loan account will be closed, and you will be free from any further obligations related to the loan. We will confirm that your loan has been paid in full and is closed.
To default on a personal loan means failing to meet the legal obligations of the loan agreement, typically by failing to make the scheduled payments. Defaulting on a loan can have serious consequences, including damage to your credit score and legal action. It’s essential to contact us if you’re facing financial difficulties.
Important notes
*Secured Personal Loans and Online Personal Loan Package comparison rates are calculated on a secured loan amount of $30,000 over a term of 5 years. Unsecured Personal Loan Comparison rates are 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 Fees and Charges.
^Terms and Conditions apply. *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 Fees and Charges.
1. An offset account is attached to the loan and used to make loan repayments. Please refer to the Account and Access Facility Conditions of Use and Fees and Charges.
2. Credit eligibility criteria, terms and conditions, fees and charges apply.