People’s Choice Unsecured Personal Loan

Take advantage of pre-approval and flexible repayments with this unsecured personal loan from People’s Choice Credit Union.

If you’re looking for flexible loan to renovate your home, consolidate your debt or for anything else, you may want to consider this unsecured personal loan from People’s Choice. The loan amounts that you can apply for start as low as $2,000 and can go as high as $40,000.

3 things you should know about this loan

  • Flexible repayments. You can choose your repayment frequency – weekly, fortnightly or monthly – and you're able to make additional repayments or repay the loan early without penalty. A redraw facility is also available.
  • High costs. The interest rate is relatively high compared to similar loans and you need to pay a 0.15% fee to keep it it locked for the duration of your loan. There is also a $250 application fee.
  • Various loan amounts available. Apply for between $2,000 and $40,000.
Product NamePeople's Choice CU Unsecured Personal Loan
Interest Rate (p.a.) From 13.99% (fixed)
Comparison Rate (p.a.)15.78%
Interest Rate TypeFixed
Min Loan Amount$2,000
Max. Loan Amount$40,000
Loan SecurityUnsecured


  • No security required
  • 60-day pre-approval
  • No penalty for extra or early repayments


  • 250 establishment fee
  • High interest rate

Main points to consider with this personal loan

This loan is an unsecured loan, which means that you don’t have to offer an asset to be approved for the loan. The maximum loan term that is available is seven years. The amount you can apply for runs from $2,000 up to $40,000. The rate starts from 13.99% p.a., with the rate you're approved for depending on a variety of factors and People's Choice loan criteria.

There is also a redraw facility available as well as the ability to make extra repayments, which can be helpful if you have a bit of extra cash you want to put towards the loan.

Features of the People’s Choice Credit Union unsecured personal loan

The following are some of the features that come with this unsecured personal loan:

  • Upfront fee structure. There is a $250 application fee as well as a lock fee, which is 0.15% of the total loan amount. The lock fee is charged if you want to keep a specific rate for the duration of your loan. There is also a $40 redraw fee if you want to redraw the cash through a People’s Choice Credit Union teller, but no fee is incurred if you redraw online.
  • Redraw facility. You can make extra repayments and redraw the funds whenever you need them.
  • Flexible repayment structure. You can choose weekly, fortnightly or monthly repayments.
  • No monthly fees. There are no monthly fees associated with this loan.
  • Access to online banking. You will have easy access to your money through online banking, which allows you to redraw any extra repayments that you’ve made with ease.
  • Loan term options. Loan terms run from 1 year up to 7 years.
  • Varied loan amounts. With this loan, you are able to apply for a minimum of $2,000 and a maximum amount of $40,000.
  • No penalties for early payout or additional repayments. You won’t incur a fee for paying off your loan early or for making additional repayments.
  • Pre-approval. You can get your loan pre-approved for 60 days, which will give you an idea of how much you can borrow.
  • Straightforward application process. You can apply for this loan online, which only takes minutes, by calling or by visiting your nearest branch.
  • Competitive interest rate. You can fix the interest rate for the life of your loan. Keep in mind the interest rate you're offered will depend on People's Choice's assessment of your application.

How to apply for the People’s Choice Credit Union Unsecured Personal Loan

To apply for this loan, you simply click on “Go to Site” and ensure you meet the following requirements:

  • You must be 18 or older.
  • You must share you residential and employment details for the last three years.
  • You must have a stable income.

The documents you need for this application include the following:

  • Income details. These include pay slips, child support statements, pension statements, allowances, rental income and commissions.
  • 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.

Although there are a number of benefits to choosing this personal loan, it’s important to compare personal loans and choose one that meets your current financial situation.

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2 Responses

  1. Default Gravatar
    tamikaMay 4, 2018

    Yes, I need a loan, please.

    • Staff
      JeniMay 4, 2018Staff

      Hi Tamika,

      Thank you for getting in touch with finder.

      If you are considering to take a loan with People’s Choice, kindly visit their website or call them directly since this page has no “Go to site” button to proceed with your online application. While we are not allowed to provide specific recommendations, let me give you general information to help you make a better choice. Please check out this link to see other banks or lenders for your unsecured personal loan enquiry.

      I hope this helps.

      Have a great day!


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