The Variable Rate Personal Loan from CUA gives you the opportunity to buy that special something you have had your eye on and pay it off over time.
The competitive variable interest rate offered by the CUA Variable Rate Personal Loan gives you the boost you need to make a major purchase, plan your summer holiday or pay off your other high-interest debts.
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 Variable Rate Personal Loan|
|Interest Rate (p.a.)||From 12.99% (variable)|
|Comparison Rate (p.a.)||13.84%|
|Interest Rate Type||Variable|
|Minimum Loan Term||1 year|
|Maximum Loan Term||7 years|
|Min Loan Amount||$1,000|
|Max. Loan Amount||$100,000|
|Monthly Service Fee||$0|
- No monthly service fee required
- No penalties for extra repayments
- Flexible repayments
- Loan establishment fee of $120 applies
- Minimum loan amount of $1000
Things to consider about the CUA Variable Rate Personal Loan
When you take out a Variable Rate Personal Loan with CUA you are treated to no monthly fees and a variable interest rate of 12.99% p.a. You choose when and how often to make repayments plus you can 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 Variable Rate Personal Loan
- Interest rate. 12.99% p.a. interest is applied to the amount of your personal loan. The comparison rate is 13.84% p.a.
- Interest rate type. This is a variable rate loan, meaning that the interest rate could change with market fluctuations.
- Loan term. Choose a loan term between 1 year(s) and 7 year(s).
- Loan amount. Borrow upwards of $1,000 for your personal needs.
- Application fee. You will be charged $120 when applying for this personal loan.
- 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 need to access any extra repayments you've made for another expense, the personal loan from CUA gives you that option.
- Monthly fees. There are no monthly maintenance charges with this loan.
How to apply for the CUA 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, position held and length of time at current job.
- 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.