Southern Cross Credit Union Unsecured Personal Loan

Get a personalised interest rate based on your credit score. Interest charges and fees apply.

This unsecured personal loan from SCCU comes with a fixed interest rate that depends on your credit score. You won’t need to provide an asset as security, but as a result your interest rate will be higher. If your credit score is less than 853 points, your interest rate will also be higher. Costs include interest charges, establishment fees and monthly fees.

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8.99% (fixed)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Min Loan Amount

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Product NameSouthern Cross CU Unsecured Personal Loan
Interest Rate (p.a.)8.99% (fixed)
Comparison Rate (p.a.)9.90%
Interest Rate TypeFixed
Min Loan Amount$5,000
Max. Loan Amount$30,000
Loan SecurityUnsecured

How does the Southern Cross CU Unsecured Personal Loan work? 

This personal loan from SCCU is unsecured and does not require an asset as security. Unsecured loans come with lower borrowing amounts and higher interest rates. Interest rates start from 8.99% p.a., and will depend on your credit score. Your rate will be made available on application. Loan funds can be used for any personal purchases or expenses, or to consolidate existing debt. This loan has a fixed interest rate.

What features does the Southern Cross CU Unsecured Personal Loan offer? 

  • Unsecured loan. This loan is unsecured, and does not require an asset as collateral for the loan. As a result, interest rates are higher and borrowing amounts smaller. You can borrow up to $30,000 at rates starting from 8.99% p.a.
  • Fixed rate. Your interest rate is fixed, meaning that your interest charges will remain the same for the duration of the loan. This makes budgeting and predicting your repayments easier.
  • Rate based on credit score. Your interest rate will be based on your credit score. It starts from 8.99% p.a., but can go up to 12.99% p.a.
  • Terms up to 7 years. Your loan term can range from 3 to 7 years.
  • Flexible repayments. You can make weekly, fortnightly or monthly repayments, based on what works for you.
  • Additional repayments. You can make unlimited additional repayments for free.
  • Free online redraw. You can redraw these additional repayments for free online. A charge of $25 will apply for in-branch redraws.
  • No penalty for early repayment. You can repay the loan early without facing a penalty.

How much does the Southern Cross CU Unsecured Personal Loan cost? 

The costs associated with this loan include: 

  • Loan principal
  • Establishment fee of $250
  • Monthly fee of $8
  • Interest rate based on your credit score. For scores above 853, your rate will be 8.99% p.a. For scores between 735 to 852, your rate will be 10.99% p.a. For scores between 661 to 734, your rate will be 12.99% p.a. Applicants with scores below 660 are advised not to apply.

The comparison rate, which includes interest charges and fees, starts from 9.90% p.a. It can go up to 11.89% p.a., or 13.88% p.a. depending on your interest rate.

What are the pros and cons of the Southern Cross CU Unsecured Personal Loan? 


  • Additional repayments and redraw. You can make extra repayments and redraw your additional payments for free online. 
  • No risk of repossession. While interest rates are higher, you do not run the risk of an asset being repossessed in case of default. 


  • Higher interest rate. Compared to a secured loan, unsecured loans have a higher interest rate. This makes the loan more expensive.
  • Higher rate for a lower credit score. Your credit score will determine how much you pay in interest. The better your score the lower your interest rate. This can mean a more expensive loan if your credit score isn’t perfect. 

Am I eligible for the loan?

To be eligible for this loan, you must: 

  • Be over 18
  • A permanent resident or citizen of Australia or New Zealand
  • Have confirmed employment in Australia

How do I apply for the loan? 

You can apply for the loan online, through the SCCU’s website, or on the phone. The application will take around 10 minutes to complete. You will be required to provide personal information, including name, address and contact details. You will also have to disclose details of your employment history and income, as well as living expenses, ongoing financial commitments such as child maintenance and other loans. Keeping your documents on hand can help speed up the process.

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