Coastline CU Personal Loan Secured with Fixed Term Deposit

Secure the loan with your fixed deposit and get competitive rates. Interest charges and fees apply.

You can secure this personal loan with a fixed term deposit. This gives you access to competitive interest rates and higher borrowing amounts. Interest rates are 5.11% p.a., while the maximum borrowing amount is $200,000. There are no monthly fees for this loan, but you will be charged a $200 establishment fee and interest charges.

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From 5.11% (variable)

Interest Rate (p.a.)

6.47%

Comparison Rate (p.a.)

$5,000

Min Loan Amount

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Details

Product NameCoastline CU Personal Loan - Secured with Fixed Term Deposit
Interest Rate (p.a.)
From 5.11% (variable)
Comparison Rate (p.a.)6.47%
Interest Rate TypeVariable
Min Loan Amount$5,000
Max. Loan Amount$200,000
Loan SecuritySecured

How does the Personal Loan Secured with Fixed Term Deposit work?

The security for this loan is your fixed term deposit. By securing this loan, you get access to a competitive rate starting at 5.11% p.a. The loan funds can be used for a variety of purposes, including personal expenses like holidays.

What features does the Personal Loan Secured with Fixed Term Deposit offer? 

  • Secured loan. This loan can be secured using your fixed term deposit. With secured loans, you can access lower interest rates and higher borrowing amounts.
  • Large borrowing amounts. You can borrow from $5,000 up to $200,000.
  • No monthly fees. You won’t be charged monthly loan fees for this loan.
  • Flexible repayments. This loan offers flexible repayment options.
  • Redraw facility. You can redraw a minimum of $500. There is no fee to redraw electronically, but a $20 fee applies for assisted in-branch redraws.

How much does the loan cost?

The costs associated with this loan include: 

  • Loan principal
  • Interest rate of 5.11% p.a.
  • Loan establishment fee of $200

There are no monthly fees associated with this loan. The comparison rate, which includes interest charges and fees, is 6.47% p.a.

What are the pros and cons of the Personal Loan Secured with Fixed Term Deposit? 

Pros 

  • Large borrowing amounts. You can borrow up to $200,000 by securing the loan.
  • No monthly fees. No monthly fees are charged for this loan. This keeps down the cost of your loan.
  • Competitive rate. You receive a competitive rate when you secure the loan. By contrast, the unsecured option comes with a 11.94% p.a.interest rate.

Cons

  • Risk to asset. Secured loans come with the risk of asset repossession in case you default on the loan.  

Am I eligible for this loan?

To apply for this loan, you will need to: 

  • Be 18 years or older 
  • Be an Australian citizen or permanent resident 
  • Be in paid employment 
  • Not have been bankrupt

How do I apply for this loan?

You can apply for this loan online, through the Coastline website. Keep your documents on hand to speed up the process.

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