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Personal Loans

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Whether it's for home renovations, a holiday or to consolidate your debt, our personal loans can be used for just about anything.

My Secured Personal Loan

By providing security against your loan, we are able to offer you all the features of our unsecured personal loan along with a lower variable interest rate and larger borrowing capacity.

  • Super competitive rate
  • Loan up to $50,000
  • No monthly loan or maintenance fees+
  • No penalty for early repayments or payouts
  • Redraw on variable rate loans^
 12.85% pa
interest rate

13.07% pa*
comparison rate		 apply

My Unsecured Personal Loan

My Unsecured Personal Loan is an unsecured loan that offers you a choice of fixed or variable interest rates, with the flexibility to make extra repayments without penalty, so you can manage your loan as you choose.

My Unsecured Personal Loan (variable) 

  • Competitive rate
  • Loan up to $20,000
  • No monthly loan or maintenance fees+
  • No penalty for early payments or payouts
  • Redraw on variable rate loans^
 12.85% pa
interest rate

13.00%pa*
comparison rate		 apply

 

My Unsecured Personal Loan (fixed)

  • Competitive rate
  • Loan up to $20,000
  • No monthly loan or maintenance fees+
  • No penalty for early payments or payouts
  • Redraw on variable rate loans^
 15.25% pa
interest rate

15.48%pa*
comparison rate		 apply

 

Important Notes:
+ Up to $40 free transactions per month included. See Transaction Fee Schedule.
^ Free redraw for amounts $501 and above, $5 fee for amounts below, via Internet and Phone Banking.
* Comparison rates are calculated on a 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. View our comparison rate schedule.

  Personal Loans Comparison Table
Key Features

Secured Personal Loan

(Variable)

Unsecured Personal Loan

(Variable)

Unsecured Personal Loan

(Fixed)
Interest rate 12.85% pa 12.85% pa 15.25% pa
Comparison rate 13.07% pa 13.00% pa 15.48% pa*
Minimum loan $5,000 $5,000 $5,000
Maximum loan $50,000 $20,000 $20,000
Max loan period 7 years 7 years 7 years
Repayments Monthly / Fortnightly / Weekly
Interest charges Calculated daily, charged monthly
Application Fee $150
No monthly account keeping fees

Yes, you get up to $40 per month in transaction fee allowances.

See Transaction Fee Schedule.
Early repayments without penalty Yes
Redraw Free redraw for amounts $501 and above, $5 fee for amounts below, via Internet and Phone Banking. See Loan Fee Schedule.
Loan repayment insurance available Yes
  Personal Loan Benefits

Variable and lump sum repayments

By contributing extra income to your loan, in addition to your scheduled repayments, you can pay off your loan sooner and potentially save hundreds of thousands of dollars in interest costs.

Want to calculate how much you could save by making extra repayments? Use our Loan Calculator

Early repayment without penalty

The earlier you pay off your loan the more money you save in interest charges. We don't penalise you if you're able to pay off your loan sooner.

Redraw your advance repayments

We provide you with the option of making extra repayments on your variable rate loans so you can save money on interest charges.

Automatic repayments (salary / account)

You can arrange to make automatic repayments either by payroll deduction, direct debit from your savings or transaction account or via internet/telephone banking. Setting up automatic repayments saves you time and enables you to avoid any late fees.

No loan interview

Submitting a loan application couldn't be simpler. You can apply online today and receive approval within 24-48 hours. No need to visit the branch for a loan interview.

Loan repayment insurance available

Loans are a long term commitment, so it makes sense to protect your repayments. Learn more about our Loan Repayment Insurance.
  Personal Loan FAQs

Do I have to be a member to take out a loan?

Anyone can enquire or apply for a loan with us - you don't have to be a member at this time.

You will need to become a member when you take out the loan. We are a mutual financial services organisation whose shareholders are its members, and you must be a member before you can take up a product or service with us.

Read more about becoming a member.

How does redraw work?

We provide you with the option of making extra repayments on your variable rate loans so you can save money on interest charges.

How much can I borrow?

The minimum amount you can borrow is $1,000. The actual amount you can borrow is determined by your ability to meet the repayments of the loan.

Calculate how much you could borrow with our Loan Calculator.

How do I make repayments on the loan?

There's a lot of choice. You can arrange to make your loan repayments either by:

  • payroll deduction
  • direct debit from your savings or transaction account
  • Internet or Phone Banking transfer
  • at any of our branches or
  • by direct debit from another financial institution

Learn more about these methods of payment.

How often will I receive information on my account?

Statements are produced quarterly. Duplicate statements can be requested at anytime from our office. Account information also available through our Internet and Phone Banking services.

What security is required to take out a Car Loan?

We will take a Bill of Sale over your vehicle as security. Loans over $35,000 require Stamp Duty to be paid. We will advise you of the amount for your loan.

What happens if I get sick, have an accident or lose my job?

The best way to obtain peace of mind that your repayment obligations will be met in the case of an accident, illness or involuntary unemployment is to take out insurance.

Learn more about Loan Repayment Insurance.

Do I need to take out loan insurance?

You can take out insurance on your loan for your peace-of-mind. This insurance is designed to cover your lending obligations in the case of sickness, accident or involuntary unemployment. Although you do not have to purchase your insurance through us, we do offer a range of insurance policies.

Learn more about Loan Repayment Insurance
  More Information

Apply

Apply using our simple online Personal Loan application Form Apply Now

Questions?

If you have any questions, please contact us Contact Us