Take advantage of a discounted interest rate depending on how much you borrow and no monthly fees.
CUA offers a competitive personal loan that doesn't require any security. If you borrow over $30,000 you will receive a discounted rate, but loan amounts as low as $5,000 are available.
The flexible repayment options that CUA offers gives you the chance to save money with extra repayments to bring down your interest rate and zero penalties if you pay off the loan before the end of the term.
|Product Name||CUA Discount Variable Personal Loan (Loans over $30,000)|
|Interest Rate (p.a.)||10.89% (variable)|
|Comparison Rate (p.a.)||11.15%|
|Interest Rate Type||Variable|
|Min Loan Amount||$30,000|
|Max. Loan Amount||$60,000|
- No monthly service fee required
- Free redraw
- Flexible repayments
- Minimum loan amount of $30,000 to get discounted interest rate
Main points to consider about the CUA Variable Rate Personal Loan
When you take out a Discount Variable Rate Personal Loan with CUA you can enjoy no monthly fees and no penalty for early repayment. If you borrow above $30,000 you will receive a discounted interest rate of 10.89% p.a. Loans under $30,000 will receive a rate of 11.89% p.a. You can choose when and how often you make repayments as well as being able to make as many extra ones as your finances allow.
For those who like stability with their repayments, CUA also offers a fixed rate version of its personal loan. You get the same repayment options as with the variable rate loan, including unlimited repayments.
Features of the CUA Discount Variable Rate Personal Loan
- Interest rate. If you borrow over $30,000 you will receive a discounted rate of 10.89% p.a. Loans under $30,000 will come with a rate of 11.89% p.a.
- Interest rate type. This is a variable rate loan, meaning that the interest rate could change with market fluctuations.
- Establishment fee. A $175 establishment fee applies.
- Loan term. Choose a loan term between 1 year(s) and 7 year(s).
- Loan amount. Borrow between $5,000 and $60,000.
- Repayments. You are offered flexible repayment options and are given the ability to make as many extra repayments as your budget allows.
- Redraw. If you make additional repayments you can access them using the redraw facility with this personal loan. There is a $200 minimum for in-branch redraws.
- Monthly fees. There are no monthly maintenance charges with this loan.
How to apply for the CUA Discount Variable Rate Personal Loan
If the CUA Variable Rate Personal Loan is the right product for you, you can apply online. Just click the "Go to Site" button to get your application started. Before doing so, make sure that you are able to meet the following eligibility requirements:
- You must be at least 18 years old
- Applications will only be accepted from Australian citizens and residents
- Your current credit report should have no defaults on any credit product in the last five years
If you meet these requirements you can continue to the application page. Have the following documentation ready to assist you in filling out the paperwork:
- Personal information. You will need to supply your full name, current address and your driver’s licence number.
- Employment. Employment details will be required including employer's contact information, the position you hold and how long you've worked there.
- Income. Provide details of your income. This should include your salary plus any other regular income you receive, such as a monthly rental payment.
- Assets. A list of your assets. Include your car, savings and any investment accounts.
- Liabilities. A complete list of all of your current debts. For credit cards, have ready the available balance as well as the amount that you owe.
A personal loan is a convenient way to fund an item that may be currently out of your reach. There are many features and options to consider before you make your final choice. Compare the personal loans being offered by a variety of different banking institutions before you settle for one.