Illawarra Credit Union Unsecured Fixed Personal Loan

No fees and free additional repayments and redraw facility. Interest charges and fees apply.

This is an unsecured loan from the Illawarra Credit Union. You don’t need to provide security to apply for this loan. Your interest rate is also fixed, making it easier to budget. You can borrow from $2,000 up to $50,000. You can make extra repayments and access them through the redraw facility as well. There are no account keeping fees with this loan, but you will have to pay an application fee and interest charges.

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From 9.75% (fixed)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Min Loan Amount

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Product NameILLAWARRA Credit Union Unsecured Fixed Rate Personal Loan
Interest Rate (p.a.)
From 9.75% (fixed)
Comparison Rate (p.a.)10.04%
Interest Rate TypeFixed
Min Loan Amount$2,000
Max. Loan Amount$50,000
Loan SecurityUnsecured

How does the Illawarra Credit Union Unsecured Fixed Personal Loan work? 

This personal loan from Illawarra Credit Union is unsecured and comes with a fixed interest rate. No asset is required as collateral for the loan. With a fixed interest rate your repayments will stay the same for the duration of the loan. This makes it easier to predict your repayments and budget for them. 

What features does the Illawarra Credit Union Unsecured Fixed Personal Loan offer? 

  • Unsecured loan. You don’t need to provide an asset as security for the loan. As a result, the interest rate is higher and borrowing amounts smaller.
  • Fixed interest. With a fixed interest loan, you know what your monthly interest payments will be. This makes it easier to budget for.
  • Terms up to 5 years. Your loan term can range from 1 to 5 years.
  • Additional repayments without penalty. You can make additional repayments without incurring early repayment fees.
  • Redraw facility. You can redraw any additional loan repayments at no cost.

How much does the Illawarra Credit Union Unsecured Fixed Personal Loan cost? 

There are several costs associated with the loan, such as: 

  • Loan principal
  • Fixed interest of 9.75% p.a.
  • $200 application fee

This loan does not charge monthly or annual account keeping fees. The comparison rate of 10.04% p.a. includes interest and fees.

What are the pros and cons of this loan?


  • No monthly fees. This loan does not charge monthly fees, helping keep down the cost of the loan.  
  • Free additional repayments and redraw. You can pay off your loan faster by making free additional repayments. You can also access your additional repayments through the redraw facility.


  • Higher interest rate. Compared to Illawarra Credit Union’s fixed rate options, the variable unsecured loan has a higher interest rate. This makes the loan more expensive. 

Am I eligible for the loan? 

To be eligible for this loan, you will need to:

  • Be over the age of 18
  • Be an Australian citizen or permanent resident, or have a valid visa
  • Receive a regular income

How do I apply for the loan?

You can apply for this loan online, through the lender’s website. You will need to provide your driver’s licence, Medicare card or passport, details of employment and income, as well as your assets, expenses and liabilities. You will also need an email address and contact number.

If you’re a member, Illawarra Credit Union will also request your membership number. Keep your documents ready to speed up the process.

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