Get exclusive money-saving offers and guides
Straight to your inbox
By signing up, you agree to the Finder
Privacy & Cookies Policy
and
Terms of Use, Disclaimer & Privacy Policy.
bcu Personal Loan
Get a personal loan from $4,000 up to $75,000 with terms up to 5 years. Interest rates vary based on loan purpose and security offered.
bcu offers a personal loan with a credit limit of up to $75,000. Loan terms are relatively short, ranging up to 5 years. Applications can be made online or in-branch, and have a quick approval time. There are no penalties for paying the loan early, or for making redraws, but there is an establishment fee of $200. Interest rates start from 9.30% p.a., with a comparison rate of 10.69% p.a., but it can vary based on the purpose of the loan and whether or not you offer security. The interest rate is also variable, which means that your repayments could fluctuate on a month by month basis. This means that you could pay higher interest for some months, and lower for others, making budgeting difficult.
No reviews yet.
Write a review
From 9.30% (variable)
Interest Rate (p.a.)
10.69%
Comparison Rate (p.a.)
$4,000
Min Loan Amount
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Details
| Product Name | bcu Freedom Loan Unsecured |
|---|---|
| Interest Rate (p.a.) | From 9.30% (variable) |
| Comparison Rate (p.a.) | 10.69% |
| Interest Rate Type | Variable |
| Min Loan Amount | $4,000 |
| Max. Loan Amount | $75,000 |
| Loan Security | Unsecured |
Important Information
bcu has changed their personal loan offering. This personal loan is no longer offered however you can find their secured and unsecured personal loans at the linked below.
Main points to consider with the bcu Personal Loan
bcu charges no fees for early repayment and allows joint loan applications. 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 9.30% 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 without penalty.
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 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 personal loan options and verify your financial position to ensure it's the right loan for you.
Compare other personal loans
1 - 5 of 5
4 Comments
May 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
May 12, 2017
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 may consider Centrelink recipients.
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
April 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
April 26, 2017
Hi Supattra,
Thanks for your question.
You may check the eligibility criteria and requirements to apply for a bcu Personal Loan on this page, under the heading “How to apply for the bcu personal loan.”
Just in case, you may also be interested in comparing other personal loans featured on our website.
Cheers,
Anndy