CUA Discount Variable Rate Personal Loan

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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.

10.89% (variable)

Interest Rate (p.a.)

11.15%

Comparison Rate (p.a.)

$30,000

Min Loan Amount

Details

Product NameCUA Discount Variable Personal Loan (Loans over $30,000)
Interest Rate (p.a.)10.89% (variable)
Comparison Rate (p.a.)11.15%
Interest Rate TypeVariable
Min Loan Amount$30,000
Max. Loan Amount$60,000
Go to CUA's website

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 to 7 years.
  • 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.

Go to CUA's website

Personal Loan Offers

Important Information*
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You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: The establishment fee will be waived if you apply before 30 September 2019.

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You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.

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RateSetter Unsecured Personal Loan - 3yr Variable

You'll receive a variable rate between 5.85 p.a. and 16.40 p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.

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Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% 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.

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10 Comments

  1. Default Gravatar
    Nivenia
    July 28, 2016

    Hi, My fiancee and I have been with CUA for around 11 years(there bout) could be more, I was wondering if this helps in getting a personal loan or a overdraw account and can it be a joint loan account. We just want it for when that unexpected money thing comes up.

    • AvatarStaff
      Elizabeth
      July 28, 2016

      Hi Nivenia,

      If you have an existing relationship with your bank it can help bolster your application. This is because your bank will have more data (11 years worth in your case) that other banks and lenders won’t. If that data is good and your accounts are in good standing, i.e. they haven’t been overdrawn recently, or if you have a savings account with CUA, it can help your application.

      However, it will ultimately come down to your ability to afford the loan. Chatting to CUA directly about your situation is a good first step to take.

      I hope this helps,

      Elizabeth

  2. Default Gravatar
    Paul
    May 10, 2016

    Hi. I have a current master card owing $6000. I am on a disability pension and have recently had my need for treatment increased. I need to get a loan to remove the credit card debt.
    I am 46 and have never defaulted on a payment but I cannot keep up my cards demands. I am outside the standard deviation the dsp is based on. I have to manage 3 separate illnesses each giving eligibility to the dsp.
    Can you help?
    Paul.

    • AvatarStaff
      Elizabeth
      May 10, 2016

      Hi Paul,

      The minimum eligibility for a CUA loan is that you’re over the age of 18 and a permanent Australian resident, so if you feel you can afford the repayments you can apply. However, it will be best to contact CUA directly and discuss your eligibility before you apply. If you aren’t eligible for this loan you can find a list of other pensioner loan options on this page.

      I hope this has helped,

      Elizabeth

  3. Default Gravatar
    Marilyn
    February 21, 2016

    Hi. What would repayments be for 20,000 over 7 years and where are your branches on the Gold Coast?

    • AvatarStaff
      Elizabeth
      February 22, 2016

      Hi Marilyn,

      You’ve come through to finder.com.au, a financial comparison website and not CUA, but I can still help with your enquiry. I used the personal loan calculator on this page to work out repayments would be a$364/month based on the 12.99% variable rate. However, this doesn’t include other fees usually associated with personal loans so repayments may be slightly higher. Click the green ‘Go to Site’ button to search CUA’s branches by postcode.

      Thanks,

      Elizabeth

  4. Default Gravatar
    shadow
    February 19, 2016

    monthly repayments please for 35,000 over 7 years

    • AvatarStaff
      Elizabeth
      February 19, 2016

      Hi Shadow,

      I used our personal loan calculator on this page to work out that a $35,000 loan paid back monthly over 7 year period with a 12.99% standard variable rate would be $637/month in repayments. However, this is based on the standard rate, so other fees associated with the loan are not included in that.

      Hope this helps,

      Elizabeth

  5. Default Gravatar
    Taina
    December 3, 2015

    If I apply for $2000 what would my repayments be for paying every month for 1yr (just approx.)

    • AvatarStaff
      Elizabeth
      December 3, 2015

      Hi Taina,

      As this is a variable rate loan your repayments can fluctuate from month to month, but using the current rate your repayments would approximately be $89.31 per month. Be sure to check your loan contract for a total breakdown of fees and costs before agreeing to the loan.

      I hope this has helped.

      Thanks,

      Elizabeth

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