Coles Personal Loan

All flybuys members get an exclusive discount on their interest rates. Higher interest rates apply for non-flybuys members.

  • Special Offer: Monthly service fee of $10 is waived on new applications if applied before 31 January 2022.

If you’re a flybuys member and a regular Coles shopper, the Coles Personal Loan offers a discount on its interest rate. Rates for members start from 9.99% p.a., while for non-members it starts from 12.99% p.a.

3 things you should know about the Coles Personal Loan

Before you consider the Coles Personal Loan in detail, here are the four most important things you need to know:

  • Flybuys members enjoy a lower interest rate starting from 9.99% p.a.
  • Non-members rate starts from 12.99% p.a.
  • Coles shoppers earn an additional 1 flybuys point per $1 spent, to a maximum of 1,000 bonus points per month.


From 9.99% (variable)

Interest Rate (p.a.)

10.28%

Comparison Rate (p.a.)

$5,000

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 NameColes Personal Loan flybuys Members
Interest Rate (p.a.)
From 9.99% (variable)
Comparison Rate (p.a.)10.28%
Interest Rate TypeVariable
Min Loan Amount$5,000
Max. Loan Amount$50,000
Loan SecurityUnsecured

Main points to consider with the Coles Personal Loan

You can apply for a credit limit between $5,000 and $50,000. Unlike a standard personal loan, the Coles Personal Loan is more like a line of credit. After being approved, you will be issued a Coles Personal Loan Debit Mastercard, giving you access to the full amount of your loan. You can withdraw the loan amount as cash or access it by using your Debit Mastercard to shop. Loan terms range between 3 to 5 years, and you will need to make monthly repayments by direct debit. The loan is subject to a variable interest rate which will be personalised based on the information you provide in your application.

Features of the Coles Personal Loan

When you take out a Coles Personal Loan, you can expect the following features:

  • Special Offer. Monthly service fee of $10 is waived on new applications if applied before 31 January 2022.
  • flybuys exclusive. All flybuys members pay interest rate from 9.99% p.a. while non-flybuys members interest rate start from 12.99% p.a.
  • Flexible loan amount. Apply for any amount between $5,000 and 12.99% p.a.. The maximum amount you can apply for will be calculated during the application process.
  • Short loan term. The Coles Personal Loan features your choice of loan term between 3 and 5 years.
  • Unsecured finance. As an unsecured personal loan, you will not need to put up any of your assets as collateral for the loan.
  • Free redraws. More like a line of credit than a traditional personal loan, the Coles Personal Loan allows you to redraw for free any amount you have already repaid without having to reapply.
  • Debit Mastercard. When your loan application is approved, you will be issued a Coles Personal Loan Debit Mastercard to access your loan funds in cash or by making purchases with your card.
  • Variable interest rate. The Coles Personal Loan features a variable interest rate starting from 12.99% p.a. for non flybuys members and 9.99% p.a. for flybuys members. The interest rate you receive will be based on the information you provide in your application.
  • Free rate estimate. The online application process will give you an initial estimate of your personal interest rate without running any credit checks.
  • Fixed repayment amount. You will need to make monthly repayments by direct debit from your nominated bank account.
  • No exit or extra repayment fees. You are able to pay extra off your loan or pay it off early if it suits without incurring extra fees.
  • Bonus points. Enjoy earning bonus flybuys points by shopping at Coles. You will earn one additional point per $1 spent at Coles using your Coles Personal Loan Debit Mastercard, up to a maximum of 1,000 points per month.

Coles Personal Loan rates

flybuys Members

  • Interest rate: From 9.99% p.a.
  • Comparison rate: From 10.28% p.a.
  • Loan rate type: Variable
  • Maximum Loan Amount: $50,000

Non-flybuys Members

  • Interest rate: From 12.99% p.a.
  • Comparison rate: From 13.28% p.a.
  • Loan rate type: Variable
  • Maximum Loan Amount: $50,000

Fees

  • Application fee. $199 Note: Establishment fee reduced to $99 for applications submitted by 30 September 2021.
  • Monthly fee. $0 Note: monthly fee applies for the first 12 months.
  • Late payment fee. $30
  • Exit or early repayment fee. No fees

How to apply for the Coles Personal Loan

Before you apply for the Coles Personal Loan, make sure you fit the eligibility requirements and have all the required documents to hand. This will speed up the application process and get you on your way to finance approval.

Eligibility requirements for the Coles Personal Loan:

  • Permanent Australian resident
  • Aged 18 or older
  • Annual income of at least $35,000

Documents required for a Coles Personal Loan:

  • Australian driver's license
  • Proof of income, either by payslips, bank statements or tax return depending on your employment circumstances

Ready to apply? First, take the time to compare your personal loan options to ensure you choose the personal loan that's right for you. If you choose a Coles Personal Loan, click "Go to Site" on this page to start the online application process.

Compare other personal loans

$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Symple Loans Personal Loan

From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10

You'll receive a variable rate from 5.75% p.a. to 25.99% p.a.

Borrow up to $50,000 and earn 1 Qantas Point for every $1 borrowed.

⭐Special Offer: Earn up to 50,000 Qantas Points with a personal loan from Symple.
Harmoney Unsecured Personal Loan

From 5.35% (fixed)
6.14%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
You'll receive a fixed rate between 5.35% p.a. and 19.09% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.
Alex Bank Personal Loan

From 4.99% (fixed)
4.99%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 4.99% p.a. to 14.99% p.a. based on your risk profile
Borrow between $2,100 and $30,000 from 6 months to 5 years.

⭐ Special Offer: Note: The $295 establishment fee will be waived for loan applications submitted by 26 January 2022.
SocietyOne Unsecured Personal Loan

From 6.45% (fixed)
6.45%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 6.45% 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.
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
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
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
NOW Finance No Fee Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
No Establishment Fee
$0
You'll receive a fixed rate between 5.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.
OurMoneyMarket Personal Loan

From 5.45% (fixed)
6.07%
$2,001
1 to 7 years
From $250
$0
You'll receive a fixed rate from 5.45% p.a. to 20.99% p.a. based on your risk profile.
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

⭐ Finder Exclusive: Apply before 31 January 2022 to secure a discounted rate of 5.45% p.a. (comparison rate: 6.07% p.a.) for the first 12 months on loans over $35,000. T&Cs apply.
Latitude Personal Loan (Unsecured)

From 7.99% (fixed)
9.24%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 7.99% p.a. and 22.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly. You can check your interest rate before applying with no impact to your credit score.
ANZ Fixed Rate Personal Loan
8.99% (fixed)
9.88%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 8.99% p.a. with a comparison rate of 9.88% p.a. if you're approved.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

⭐Special Offer: A $500 cashback offer available for loans of $10,000 or more that been applied for before 28 February 2022. Loans approved and drawn down by this date are also eligible for the reduced rate of 8.99% p.a.
MoneyMe Personal Loans

From 6.25% (fixed)
7.64%
$2,100
1 to 5 years
from $295 to $495
$10
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
Wisr Personal Loan ($5,000 to $30,000)

From 6.49% (fixed)
6.49%
$5,000
3 to 7 years
$0 - Waived Establishment Fee
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer:The $595 establishment will be waived for unsecured personal loans between $5,000 and $30,000. Offer ends 31 January 2022. T&Cs apply.
Wisr Personal Loan ($30,001 to $64,000)

From 6.49% (fixed)
7.11%
$30,001
3 to 7 years
$595
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $30,001 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer:The $595 establishment will be waived for unsecured personal loans between $30,001 and $64,000. Offer ends 31 January 2022. T&Cs apply.
ANZ Variable Rate Personal Loan
10.50% (variable)
11.38%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 10.50% p.a. with a comparison rate of 11.38% p.a. if you're approved. Note: This rate may vary during the loan term.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.

⭐Special Offer: A $500 cashback offer available for loans of $10,000 or more that been applied for before 28 February 2022. Loans approved and drawn down by this date are also eligible for the reduced rate of 10.50% p.a.
NAB Personal Loan Unsecured Variable Rate

From 6.99% (variable)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a variable 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
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
loading

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 5.35% p.a. and based on your risk profile.
Apply for a loan up to $70,000 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 8.99% 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
Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 5.95% p.a. and 19.99% 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.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

2 Comments

    Default Gravatar
    Mohammad
    August 18, 2019

    How can I make repayment to Coles personal loan?

      Avatarfinder Customer Care
      Jeni
      August 18, 2019

      Hi Mohammad,

      Thank you for getting in touch with Finder.

      With Coles personal loan, you are required to make repayments monthly on each payment due date, as advised in your statement. You can repay your Coles personal loan by setting up direct debit directly with your financial institution to your Coles personal loan or via BPay.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

Go to site