People's Choice Discounted Personal Loan - Rates & Fees |

People’s Choice Discounted Personal Loan

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Benefit from pre-approval and loan terms up to 10 years with this loan from People's Choice.

This loan comes with a number of features, the main one being its competitive interest rate of 7.99% p.a. To benefit from this rate you need to attach a vehicle to this loan as security.
Find out what other features are available in this review.

From 7.99% (fixed)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Min Loan Amount

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Product NamePeople's Choice CU Discounted Personal Loan
Interest Rate (p.a.)
From 7.99% (fixed)
Comparison Rate (p.a.)8.35%
Interest Rate TypeFixed
Min Loan Amount$10,000
Max. Loan Amount$100,000
Loan SecuritySecured

Main points to consider with the People's Choice Discounted Personal Loan

To be eligible for this loan you will need a vehicle less than seven years old, or has a value of at least $10,000, to use as security. You can select loan terms of between 1 to 10 years. You can apply for a loan between $10,000 and $100,000.

Flexible repayments are available and you can repay the loan early without penalty. Pre-approval is also available.

Features of the Discounted Personal Loan

The following are some of the features associated with this discounted secured personal loan:

  • Low rate. Rates start from a low of 7.99% p.a. and the comparison rate is 8.35% p.a. However, if you select loan terms over five years a variable rate will apply after five years.
  • Large loan amounts. You can borrow a minimum of $10,000 to a maximum of $100,000.
  • Pre-approval. You can take advantage of pre-approval which is available for 90 days.
  • Freedom. There is no set purpose for this loan, so you can use it for anything you want. You can use it to consolidate debt, go on a shopping spree or help tide you over for the new year.
  • Loan terms. Loan terms run from 1 to 10 years. Keep in mind that if you select loan terms over five years, a variable rate will apply.
  • No monthly fees. There are no monthly fees associated with this loan.
  • Straightforward fee structure. The fees for this loan are easy to find and straightforward. There are no monthly fees but you will have to pay a $250 application fee as well as a lock-rate fee if you want to lock in the rate. There is also a redraw fee of $40 if you use a People's Choice teller.
  • No fees for additional payments or early payout of loan. You won't have to pay any fees if you make additional payments or pay off your entire loan early.
  • Option to redraw extra payments made. You can redraw the extra payments that you've made on the loan if things get a bit tight one month.
  • Discounted Zip account. if you apply for a People's Choice Zip account you will pay $0 monthly fee, a saving of $6 per month.

How to apply for the Discounted Personal Loan

To apply for this loan, you simply click on "Go to Site" and make sure you meet the following criteria:

  • 18 years old or older
  • Information about your assets and expenses
  • You must have a stable income
  • You need a vehicle that is either under seven years old, or has a value of more than $10,000, to use as security.

You will need to include the following documents when applying for this loan:

  • Income details. These include pay slips, child support statements, pension statements, allowances, rental income and commissions.
  • Proof you have the asset you wish to use as security. This can be a bank statement showing your term deposit or savings as well as papers showing that you own the vehicle you are submitting as security.
  • Expense details. These include utility bills, rent or board payments, loan repayments, credit card repayments, maintenance payments and lease payments.
  • Asset information. This includes savings, the value of any motor vehicles you may own and information on shares, bonds or property that you own.
  • Proof of ID. This includes your Australian driver's licence number and expiry.

Once approved, you can take advantage of all the features that come with this discounted personal loan. Compare personal loans and choose the one that best meets your financial needs.

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 10.5% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

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