Newcastle Permanent Personal Loan
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- Interest Rate (p.a.)
- 6.49%
- Comparison rate (p.a.)
- 6.84%
- Min Loan Amount
- $5,000
Summary
Get a competitive interest rate from this top-performing secured personal loan.With a Finder Score of 9.2, the Newcastle Permanent Secured Personal Loan is one of the top-performing products in our database. It consistently ranks in the top 10% of all secured personal loans we have analysed.
Its main strengths are a competitive interest rate, in the top 15% of our database, and an application fee which is lower than half of its peers. The loan also has no ongoing monthly fees.
Details
Newcastle Permanent Unsecured Loan
| Product Name | Newcastle Permanent Unsecured Loan |
| Interest Rate (p.a.) | 8.99% |
| Comparison rate (p.a.) | 9.35% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $50,000 |
| Loan Security | Unsecured |
Newcastle Permanent Secured Loan
| Product Name | Newcastle Permanent Secured Personal Loan |
| Interest Rate (p.a.) | 6.49% |
| Comparison rate (p.a.) | 6.84% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $100,000 |
| Loan Security | Secured |
How does Newcastle Permanent Secured Personal Loan compare?
- A top-ranking loan. This loan is in the top 10% of secured personal loans in our database, based on its Finder Score.
- Competitive interest rate. Its minimum interest rate of 6.49% is in the top 15% of the most competitive rates for secured loans.
- Lower than average fees. The $250 application fee sits in the top half of cheaper fees when compared to similar loans.
How does the Newcastle Permanent Personal Loan work?
This personal loan is a secured or unsecured loan with a fixed rate. You can use a Newcastle Permanent Term Deposit or motor vehicle to secure the loan and receive a lower interest rate. The rate is also fixed, which means that your interest payments will remain the same over the term of the loan. This makes it easy to predict and budget for your repayments.
Secured loans come with an interest rate of 6.49% p.a. while unsecured loans come with interest rates from 8.99% p.a.
What features does the Newcastle Permanent Personal Loan offer?
- Security options. This loan can be secured or unsecured, depending on your preference.
- Fixed rate. You get the certainty of knowing what your interest repayments will be. This makes budgeting easier.
- Terms up to 7 years. Your loan term can range from 1 to 7 years.
- Flexible repayments. You can choose from weekly, fortnightly or monthly repayments, based on what suits you.
- Additional repayments. You can make unlimited additional repayments.
- No early repayment fee. You can repay your loan early without incurring a penalty.
- No ongoing account keeping fees. You won't have to pay monthly or annual account keeping fees.
How much does the Newcastle Permanent Personal Loan cost?
The costs associated with this loan include:
- Loan principal
- Fixed interest rate of 6.49% p.a.
- Application fee of $250
This loan does not charge monthly or annual account keeping fees, but other fees may apply. The comparison rate, which includes interest charges and fees, is 6.84% p.a.
What are the pros and cons of the Newcastle Permanent Personal Loan?
Pros
- Fixed rate. This loan comes with a fixed rate, making it easy to predict repayments.
- No account keeping fees. This keeps down the cost of your loan.
- Additional repayments and early repayment. You can make unlimited additional repayments and repay your loan early without penalty.
Cons
- No redraw facility. You cannot redraw any additional repayments you make.
- Risk of repossession. Secured loans come with the risk of your asset being repossessed if you default on your loan.
Am I eligible for this loan?
To apply for this loan, you must:
- Be 18 years or older
- Be a permanent resident of Australia or New Zealand
- Be able to afford your loan repayments
How do I apply for the loan?
To apply for the loan, you have to make a personal loan enquiry through Newcastle Permanent’s website. Keep your documents on hand to make the process easier.
Compare other products from Newcastle Permanent
- Newcastle Permanent credit cards
- Newcastle Permanent home loans
- Newcastle Permanent savings accounts
- Newcastle Permanent term deposits
Sources
Your reviews
Elizabeth Finder
Journalist
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