bcu Personal Loan

Rates and fees last updated on

Apply for a bcu personal loan to take advantage of competitive variable rates and flexible repayment terms.

If you’re looking for a flexible personal loan that comes with competitive low rates, you can consider a bcu Personal Loan. Whether you apply online or at a bcu store, you can be approved for a personal loan within as little as 30 minutes.

Things to consider about bcu personal loans

bcu charges no fees for early repayment and allows joint loan applications. You can use the loan for any purpose, even consolidating outstanding debt. You must already be a bcu customer to be eligible for a personal loan.

The minimum you can apply for is $4,000 and a $200 application fee applies if the loan is unsecured. This fee is $250 for a secured loan. If you select the secured option, the asset you put up as collateral must be valued at least $5,000.

If you’re borrowing to consolidate outstanding debt, it must be for at least two non-bcu debts. While you do pay application and monthly fees, there is no charge if you choose to settle the balance before the end of the loan term.

What features come with a bcu personal loan?

If you’re interested in applying for a bcu personal loan, here are some of the features from which you can benefit.

  • Flexibility. You have the option to make additional repayments or repay your loan in full without risking a penalty.
  • Competitive rates. Interest rates start at 8.94% p.a.. However, rates can vary depending on factors like the purpose, security put forward and whether or not you qualify for an interest rate discount.
  • Easy application. You can either apply at a bcu office or submit an application online.
  • Secured and unsecured options. You can choose to put up collateral to secure a personal loan as long as the asset is worth more than $5,000.
  • Joint applications. You have the option to submit a joint application for a personal loan. On the online application form, you can select the option under “Number of applicants”.
  • Redraw facility. You have the option to redraw additional payments. You pay a fee of $25 for each redraw.
  • Loan Protection Insurance. You have the option to insure your loan. Payments and the loan amount are covered if you’re unable to make payments because of death, unemployment, disability or illness. You may also qualify for a discount if you choose this option.

How to apply for the bcu personal loan

Applying is simple and can be completed online. To get started, click “Go to Site”. You’ll need to meet the following eligibility criteria:

  • Be 18 years or older
  • Be an existing bcu customer
  • Be an Australian citizen or permanent resident
  • Have no outstanding defaults or judgements against your name

Specify the loan type, whether or not you’re putting up security, and whether you want loan protection. You can also register to receive eStatements. Keep the following details on hand to complete your application:

  • Personal details
  • Employment details
  • Financial information
  • Assets and liabilities
  • The purpose of the loan

While bcu personal loans come with application fees and charges, you can borrow up to $75,000 with flexible terms and repayment options. Before making a commitment, it’s important to compare loan options and verify your financial position to ensure it's the right loan for you.

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This page was last modified on 15 August 2017 at 4:55pm.

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4 Responses

  1. Default Gravatar
    RobertMay 12, 2017

    Why do you and all the other lenders Discriminate when a Pensioner on Centrelink Payment Applies for A personal Loan this is Discrimination and you ought to be ashamed we built this country paid our taxes and because there was no such thing as superannuation when I worked for 54 years so we arw discriminated against please take a look at this and Reconsider your Position
    That I must be Employed I could pay the Loan with regular Fortnightly payments Payed by the Federal Government every Fortnight in to my Bank Account

    • Staff
      MayMay 12, 2017Staff

      Hi Robert,

      Thanks for your comment and I understand how you feel. Just to confirm though that finder.com.au is a financial comparison website and general information service and we do not offer the loans ourselves.

      Please note that lenders have different eligibility criteria and requirements, so not all of them would accept people who receive Centrelink payments. However, some specialised lenders do and you can find them here. On that same page, you can review the criteria and get more information from the guide on how you can get a loan.

      Cheers,
      May

  2. Default Gravatar
    SupattraApril 25, 2017

    Hi,
    can you please send me a full eligibility criteria for a personal loan? I would like to consolidate my 2 credit cards but I am a self employed.

    Regards,
    Supattra

    • Staff
      AnndyApril 26, 2017Staff

      Hi Supatra,

      Thanks for your question.

      You may check the eligibility criteria and requirements to apply for a bcu Personal Loan in our page above, under the heading “How to apply for the bcu personal loan.”

      You may also compare other personal loans on this page.

      Cheers,
      Anndy

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