In this guide

  • Review
  • Details
    • Product details
  • How does bcu personal loan work?
  • How to apply
  • Features of this loan
  • Compare other personal loans
  • Your reviews
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bcu Freedom Loan Unsecured

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Interest Rate (p.a.)
9.30%
Comp. Rate (p.a.)
9.59%
Min Loan Amount
$4,000

Summary

Get a personal loan from $4,000 up to $75,000 with terms up to 5 years. Interest rates vary based on loan purpose and security offered.

bcu offers a personal loan with a credit limit of up to $75,000. Loan terms are relatively short, ranging up to 5 years. Applications can be made online or in-branch, and have a quick approval time. There are no penalties for paying the loan early, or for making redraws, but there is an establishment fee of $200. Interest rates start from 9.30% p.a., with a comparison rate of 9.59% p.a., but it can vary based on the purpose of the loan and whether or not you offer security. The interest rate is also variable, which means that your repayments could fluctuate on a month by month basis. This means that you could pay higher interest for some months, and lower for others, making budgeting difficult.

Pros

  • A competitive interest rate
  • Choose between secured or unsecured
  • Apply for up to $75,000

Cons

  • Application fee of $200
  • Monthly service fee of $0

In this guide

  • Review
  • Details
    • Product details
  • How does bcu personal loan work?
  • How to apply
  • Features of this loan
  • Compare other personal loans
  • Your reviews

Details

Product details

Product Name bcu Freedom Loan Unsecured
Interest Rate (p.a.) 9.30%
Comp. Rate (p.a.) 9.59%
Interest Rate Type Variable
Min Loan Amount $4,000
Max. Loan Amount $75,000
Loan Security Unsecured

How does bcu personal loan work?

bcu charges no fees for early repayment and allows joint loan applications. The minimum you can apply for is $4,000 and a $200 application fee applies if the loan is unsecured. This fee is $200 for a secured loan. If you select the secured option, the asset you put up as collateral must be valued at least $5,000. If you're borrowing to consolidate outstanding debt, it must be for at least two non-bcu debts. While you do pay application and monthly fees, there is no charge if you choose to settle the balance before the end of the loan term.

How to apply

Applying is simple and can be completed online. To get started, click "Go to Site". You'll need to meet the following eligibility criteria:

  • Be 18 years or older
  • Be an Australian citizen or permanent resident
  • Have no outstanding defaults or judgements against your name

Specify the loan type, whether or not you're putting up security, and whether you want loan protection. You can also register to receive eStatements. Keep the following details on hand to complete your application:

  • Personal details
  • Employment details
  • Financial information
  • Assets and liabilities
  • The purpose of the loan

Features of this loan

If you're interested in applying for a bcu personal loan, here are some of the features from which you can benefit.

  • Flexibility. You have the option to make additional repayments or repay your loan in full without risking a penalty.
  • Competitive rates. Interest rates start at 9.30% However, rates can vary depending on factors like the purpose, security put forward and whether or not you qualify for an interest rate discount.
  • Easy application. You can either apply at a bcu office or submit an application online.
  • Secured and unsecured options. You can choose to put up collateral to secure a personal loan as long as the asset is worth more than $5,000.
  • Joint applications. You have the option to submit a joint application for a personal loan. On the online application form, you can select the option under "Number of applicants".
  • Redraw facility. You have the option to redraw additional payments without penalty.

While bcu personal loans come with application fees and charges, you can borrow up to $75,000 with flexible terms and repayment options. Before making a commitment, it's important to compare personal loan options and verify your financial position to ensure it's the right loan for you.

Compare other personal loans

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Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
NOW Finance No Fee Unsecured Personal Loan
Finder award winnerFixed18 Months - 7 Years $5,000 - $50,000
Interest Rate (p.a.)
6.75%
to 26.95%
Comp. Rate (p.a.)
6.75%
to 26.95%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$922.89
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OurMoneyMarket Personal Loan
Finder award winnerFixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
1.50% - 6%
min. $250
Monthly Fee
$0
Monthly Repayment
$934.23
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Harmoney Unsecured Personal Loan
Finder award winnerFixed3 - 7 Years $2,000 - $70,000
Interest Rate (p.a.)
5.76%
to 24.03%
Comp. Rate (p.a.)
6.55%
to 24.98%
Application Fee
$275 - $575
Monthly Fee
$0
Monthly Repayment
$926.83
Go to siteMore Info
NAB Personal Loan Unsecured Fixed
Fixed1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
6.99%
to 20.49%
Comp. Rate (p.a.)
8.05%
to 21.49%
Application Fee
$250
Monthly Fee
$10
Monthly Repayment
$943.89
Go to siteMore Info
NAB Personal Loan Unsecured Variable Rate
Variable1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
6.99%
to 20.49%
Comp. Rate (p.a.)
8.05%
to 21.49%
Application Fee
$250
Monthly Fee
$10
Monthly Repayment
$943.89
Go to siteMore Info
ING Personal Loan
Finder award winnerFixed2 - 7 Years $5,000 - $60,000
Interest Rate (p.a.)
6.89%
to 18.99%
Comp. Rate (p.a.)
7.10%
to 19.23%
Application Fee
$150
Monthly Fee
$0
Monthly Repayment
$929.43
Go to siteMore Info
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