CUA Discount Fixed Personal Loan (Loans over $30,000)
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Unlimited additional repayments and a discounted interest rate are available with the Fixed Rate Personal Loan from CUA.
The CUA Fixed Rate Personal Loan is an all-purpose lending product that can be used to cover the cost of any major purchase.
Those borrowing over $30,000 can enjoy a discounted interest rate, while unlimited repayments and no added fees will help you pay this personal loan off quickly. Find out more about how this loan works in this review.
Main points to consider with the CUA Fixed Rate Personal Loan
| Product Name | CUA Discount Fixed Personal Loan (Loans over $30,000) |
|---|---|
| Interest Rate (p.a.) | From 10.99% (fixed) |
| Comparison Rate (p.a.) | 10.99% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $30,000 |
| Max. Loan Amount | $100,000 |
Pros
- Free redraw
- Flexible repayment options
- No penalties for extra repayments
Cons
- Discounted rate only available for loans over $30000
If you borrow less than $30,000 this loan will come with a rate of 11.99% p.a., while loans over $30,000 come with a discounted interest rate of 10.99% p.a..There are no monthly fees and CUA has waived the application fee for applications submitted for limited time.
For those who are looking for personal loans for a new car, CUA has a Fixed Rate Car Loan to consider. The interest rate is 6.79% p.a. and just like with the personal loan, you can choose a flexible repayment schedule that fits in with your budget.
Features of the CUA Fixed Rate Personal Loan
This is a competitive personal loan that's worth considering when you're trying to meet a high-priced personal need. The features include:
- Fixed interest rate with a discounted rate available. You will be charged a fixed rate of 10.99% p.a. if you borrow more than $30,000, while a fixed rate of 11.99% p.a. will be applied to all other loan amounts.
- Loan terms. You can choose to pay your loan off over a period of 1 to 7 years.
- Flexible repayments. The repayment terms are flexible for this loan and can be made according to your pay schedule. You can also make as many additional repayments as you wish with no worry of penalties or charges if the loan is paid off sooner than expected.
- Redraw. You can redraw any additional repayments you make using the convenient redraw facility attached to this loan. Keep in mind there is a $200 minimum for in-branch redraws.
- How much you can borrow. You can borrow between $5,000 and $100,000 with this personal loan.
- Waived application fee. For a limited time, CUA has waived the $120 application loan for this personal loan. It may withdraw this offer at any time.
- No monthly fees. You'll be charged $0 for the monthly maintenance of your account.
How to apply for the CUA Fixed Rate Personal Loan
You can apply for this personal loan product from CUA online, and to do so just click "Go to Site" to start your application. Before you begin, make sure that you are able to meet the following eligibility requirements:
- Be at least 18 years of age
- Be an Australian permanent residents or citizen
- Be able to provide proof of a regular income
- Have not declared bankruptcy or insolvency
- Have had no defaults on any forms of finance in the past five years
If you can meet these requirements, click ‘Go to Site’ to begin the application. Have the following documentation ready to help with the questions you will be asked on the application:
- Personal information. Your name, birth date and current address will have to be disclosed. You may also need to provide an e-mail address in order for a representative from CUA to contact you.
- Income. A detailed description of your current employment situation including contact information and earnings.
- Identification. Your driver’s licence number, passport or Medicare card may be required.
- Liabilities. A complete listing of your current debts. Include any other loans and credit cards.
- Assets. Your personal assets. This could include property, vehicles and savings accounts.
This is a good personal loan to consider if you need money to cover the cost of a major expense. When comparing this to other personal loans, look carefully at the varying interest rates and other fees that may be included so that you can find the right loan for your needs.
HI,
If you know of, I am wandering if you know if i can apply for a personal loan from CUA to repay my flexiloan from another banking institution which has much higher interest rate and also compound interest
Thsnks
Hi Simone,
Thanks for reaching out.
If you meet CUA’s eligibility and documentation requirements listed above then you’ll be able to apply for this loan. You can click the ‘Go to Site’ to begin the application. For more loan refinancing options, you can check our comparison on this page.
I hope this helps.
Cheers,
Liezl
CAN A CANADIAN MAKE AN APPLICATION FROM CANADA
Hi Negusco,
Thank you for your inquiry.
Unfortunately, this loan is only available to Australian permanent residents or citizen. This is same is true for all other lenders listed on our pages. You might want to contact a bank or a lender in Canada instead.
I’m sorry I couldn’t be of more help.
May
My husbands application has been with your verification team for over a week now. We have asked for a call back from them 3 times with no response. Is this normal. I am very frustrated at the lack of communication.
Hi Sue,
Thanks for reaching out.
Please note that we are finder.com.au, a financial comparison and information website that helps consumers make better decisions. We are not CUA.
You can directly call CUA on 133 282 to verify the status of your loan application.
Please do note that other loan options are available on this page.
Cheers,
Anndy
Hallow, my name is Akile George Akile. Am from Tanzania and am doing small business. Can I please get loan from your organisation for expanding my business?
Hi Akile,
Unfortunately these loans are only for current Australian residents. You may need to find a lender in Tanzania to expand your business.
Sorry I couldn’t be of more assistance,
Elizabeth
Hi I was just wondering if you earn under 15000 are you still eligible to get a loan for 8000!?
Hi Chanel,
CUA will only approve you for a loan amount you can afford. To determine this it takes into account your employment, your income, your assets, debts and liabilities. You might find this borrowing power calculator useful, it gives you an estimate of how much you can borrow.
Hope this helps,
Elizabeth
Hi,
I am wanting to get a loan but have just started working. How long do I have to have a regular income for before I can apply for a loan?
Thanks
Hi Karen,
Most lenders require at least three months of bank statements to show a stable working history, they may also require that you have been working for a certain amount of time (usually three months but can be as high as six or 12 months for casual/part-time employees) to show that you’re out of your probation period.
If you have questions regarding your eligibility you may want to contact CUA directly.
Hope this helps,
Elizabeth
I already have a CUA personal loan – can I apply online to increase the loan amount to consolidate debt?
Hi A,
Thanks for your inquiry.
CUA Fixed Rate Personal Loan is available to new and existing customers, so yes, you can apply for this loan. Before submitting your application, please contact CUA first as they may have to require you to supply additional documents.
Cheers,
May
Hi,
My wife and I are separating and she is needing to consolidate some c/cards & a personal loan together to help manage cash flow. Due to things getting a little tight for her financially of late, she’s been late a couple of times for her repayments on her c/card, but this won’t happen once bought together on one loan. Do you ask for copies of c/card & loan statements as part of the assessment criteria, or is it strictly as per your list: Pers. Info, Income, ID, Liabilities, Assets? Thank you.
Gordon.
Hi Gordon,
Thank you for your inquiry and I’m sorry to hear about you and your wife’s current situation.
Just to confirm though that you’ve come through to finder.com.au we are an Australian financial comparison website and general information service and we do not represent or an affiliate of any lender or credit card company we feature on our site.
You may like to check this page where you might be able to find our guide and compare your credit card and personal loan consolidation options (for your wife). Generally, for credit cards, Citibank and Virgin Money are credit card issuers that accept a balance transfer from both credit card and personal loans.
Please make sure to review the criteria as the requirements will vary from lender to lender. You’d be best to contact the lender/credit card issuer before you submit any application so you can discuss your options and situation.
I hope this is helpful.
Cheers,
May
I meet all other requirement, but now lam not working but my wife is, am i still eligible for a consolidation loan??
Hi Roberto,
CUA state that you have to provide proof of a regular income. CUA also offer joint application personal loans that you may be able to apply for with your wife.
Hope this helps.
Cheers
Matt
I tried applying online but could not get past the personal profile page, spent around 10 mins trying to get to the next step. All required fields were correctly filled in!
Hi Margaret,
If you’ve ensured all fields with the asterisk were filled in, as the application is handled directly by CUA you will need to get in contact with them to get assistance with the application.
Sorry I couldn’t be of more assistance.
Elizabeth