bcu Secured Freedom Loan

Take advantage of a competitive 9.08% p.a. rate and loan approval in 30 minutes.

The Freedom personal loan from Bananacoast Credit Union, more commonly known as bcu, can put you back into the driver's seat when it comes to your finances

With a large minimum amount of $4,000 and a maximum amount of $75,000, this loan can suit a variety of borrowing needs. As long as you're already a member of bcu, you can get approved for this loan within 30 minutes. Whether you want a new car, a holiday or to renovate your house, the Freedom personal loan offered by bcu is an option to consider.

Product Namebcu Secured Freedom Loan
Interest Rate (p.a.) From 9.08% (variable)
Comparison Rate (p.a.)9.99%
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 is a secured personal loan which means you have to offer an asset in order to get this loan. The asset that you offer must have a value of $5,000 or more in order to qualify. The interest rates start from 9.08% p.a. and the comparison rate is from 9.99% p.a.. The loan amounts you can apply for start from $4,000 and extend up to a maximum of $75,000. The minimum loan term is 1 year(s) and the maximum loan term is 5 year(s).

In order to be eligible for this loan, you must already have another product from bcu.

Features of the Freedom personal loan

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

        • Competitive rates. From a 9.08% p.a. variable rate and a 9.99% p.a. comparison rate, bcu ensures that anyone who is approved for this loan will get a competitive rate.
        • Fast approval process. You can get approved for this loan in as little as 30 minutes.
        • Flexible repayments offered. Found yourself with a bit of extra money and want to repay the loan quicker? This gives you the flexibility to make additional repayments when you can.
        • No fees for paying the loan out early. The loan has no fees or charges if you want to pay off the loan early.
        • 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(s) and the maximum loan term is 5 year(s). This means you can select the loan term that suits your repayment needs.
        • Loan amounts are varied. This loan comes with a minimum loan amount of $4,000 and a maximum of $75,000, making it suitable for a variety of borrowers.
        • Redraw available. You have access to extra repayments you have made with the redraw facility available within this loan. Keep in mind you’ll be charged $25 each time you redraw money.

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:

        • Already a member of bcu bank. In order to be eligible for this loan, you must already be a member of this bank and use one or more of its products.
        • 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.

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