bcu Secured Freedom Loan - Review & Fees | finder.com.au

bcu Secured Freedom Loan

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Take advantage of a competitive 7.58% p.a. rate and loan approval in 30 minutes.

The Freedom personal loan from Bananacoast Credit Union, more commonly known as bcu, offers amounts between $4,000 and $75,000, making it suitable for a range of purposes. You can benefit from features such as a 30-minute application and flexible repayments. Find out more about this loan below.


From 7.58% (variable)

Interest Rate (p.a.)

8.49%

Comparison Rate (p.a.)

$4,000

Min Loan Amount

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Details

Product Namebcu Secured Freedom Loan
Interest Rate (p.a.)
From 7.58% (variable)
Comparison Rate (p.a.)8.49%
Interest Rate TypeVariable
Min Loan Amount$4,000
Max. Loan Amount$75,000
Loan SecuritySecured

Main points to consider about the bcu Freedom personal loan

This loan is secured so you need to attach security with a value of $5,000 or more in order to qualify. You'll receive a variable rate of and you can apply for amounts between $4,000 and $75,000. This loan comes with no fee for early repayment and a redraw facility is available.

Features of the Freedom Personal Loan

The Freedom personal loan offered by bcu has many features, such as:

  • Variable interest rate. From a 7.58% p.a. variable rate for this personal loan and a 8.49% p.a. comparison rate, bcu ensures that anyone who is approved for this loan will get a competitive rate.
  • Fast approval process. You can be approved for this loan in as little as 30 minutes.
  • Flexible repayments offered. Make additional repayments when you can and pay off the loan early without penalty.
  • Transparent fee system. You are able to see all of the fees that you will be charged over the term of the loan. For example, your application fee for your secured loan is $250, there is a monthly fee of $8 and the redraw fee is $25 each time you want to redraw money out of your loan.
  • Loan terms. The minimum loan term for this loan is 1 year and the maximum loan term is 5 years. This means you can select the loan term that suits your repayment needs.
  • Loan amounts. You can apply for between $4,000 and $75,000, making it suitable for a variety of purposes.
  • Redraw available. You have access to extra repayments you have made with the redraw facility available within this loan.

How to apply for the bcu Freedom personal loan

Click on "Go To Site" and ensure you meet the following requirements before you apply for this loan. They are as follows:

  • 18 years or older
  • A permanent Australian resident or citizen
  • Not have any debts, judgements or undeclared bankruptcy charges against you

Also be prepared to provide:

  • Your financial details, such as other income, whether or not you have a mortgage, whether you receive a salary etc.
  • Your monthly expenses

The Freedom personal loan offered by bcu is one of many personal loans available to consumers on the market. It's important to do your research before deciding which loan is best for you and your needs.

Compare other personal loans

Data updated regularly
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Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
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IMB New Car Loan
4.99% (fixed)
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NRMA New Car Loan
From 4.99% (fixed)
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Credit Concierge Car Loan
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You'll receive a fixed rate of 3.85% p.a. with a comparison rate of 4.91% p.a.
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Wisr Secured Car Loan
From 4.74% (fixed)
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$195 (Includes PPSR registration fee)
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A flexible car loan from $5,000 - $63,000 with personalised rates and rewards for strong credit customers.

NAB Personal Loan Unsecured Fixed
From 6.99% (fixed)
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$5,000
1 to 7 years
$150
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An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
OurMoneyMarket Car Loan
From 5.35% (fixed)
5.65%
$2,001
1 to 7 years
$250
$0
You'll receive a fixed interest rate from 5.35% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 10 years.
CUA Secured Fixed Car Loan
6.79% (fixed)
7.16%
$5,000
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$265 ($175 Establishment Fee + $90 Security Administration Fee)
$0
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
Latitude Personal Loan (Secured)
From 5.99% (fixed)
7.26%
$3,000
1 to 7 years
Loans under $5000 - $140
$13
You'll receive a fixed rate between 5.99% p.a. and 21.99% p.a. based on your risk profile
Lock in a competitive fixed rate when you offer security. Loan can be used for any purpose and repayments are flexible. You can check your interest rate before applying with no impact to your credit score.
Stratton Finance New Car Loan
From 4.05% (fixed)
5.63%
$10,000
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$700
$8.25
You'll receive a fixed rate from 4.05% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Driva Car Loan
From 3.95% (fixed)
5.1%
$2,000
1 to 7 years
$295 (Varies by lender, starting from $295)
$10
You'll receive a fixed rate from 3.95% p.a.
Borrow up to $250,000 with loan terms from 1 to 7 years. Get access to a range of lenders.
RACV New Car Loans
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
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A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
NRMA Used Car Loan
From 6.49% (fixed)
7.19%
$5,000
1 to 7 years
$499
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Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
Symple Loans Personal Loan
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from 0% to 5% of the loan amount
$10
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Borrow up to $50,000 to pay for what you need.
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Compare up to 4 providers

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 10.5% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

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