UniBank All Purpose Personal Loan

Take advantage of a personal loan from UniBank and treat yourself to a getaway.

Unlike a loan that restricts you to certain items, such as a car or home loan, when you take out a personal loan with UniBank, you can spend the money on whatever you like. Want to go away for Christmas? You can use a personal loan for that. Want to get that new computer you’ve had your eye on? A personal loan can help you there as well.

Things to consider when taking out this loan

This loan is unsecured, which means you don’t have to put forward any assets for security. The minimum amount you can apply for is $2,000 and the maximum is $80,000. The loan terms are one to seven years.

In order to apply you must be a UniBank member, which involves becoming a shareholder in the company. Once you are a member, applying for a loan only takes 10–15 minutes to complete, and you will find out whether or not you are approved within 24 hours.

Features of UniBank’s personal loan

There are many features available with this personal loan, including the following:

  • Short loan terms. The minimum loan term is 1 year(s) and the maximum is 7 year(s). Take into consideration how much time you’ll need to pay off what you’ve borrowed when you’re applying.
  • Large minimum amount. With the minimum loan amount starting at $2,000 and going all the way up to $80,000, you have a lot of wiggle room to decide what you want to spend it on.
  • A competitive variable rate. Interest rates start at 13.19% p.a. and there is a comparison rate of 13.9% p.a. available. This is competitive against the base interest rate of 13.19%.
  • No monthly fees. There are no monthly fees associated with this loan.
  • Make extra repayments. You can make lump sum payments, and there are no penalties for early repayments.
  • Tailor repayment schedule. You are able to tailor the repayment schedule to your cash flow needs, with a choice of weekly, fortnightly or monthly repayments.
  • Fee-free redraw. As this is a variable loan, you can take advantage of the fee-free redraw facility. This means you can redraw any additional repayments you’ve made on the loan if you suddenly need the money again, at no extra cost.
  • 24/7 access to your money. With access to Internet, mobile and telephone banking, you always have access to your money whenever you need it.

What requirements are there for this type of loan?

In order to apply for this personal loan you need to meet the following requirements:

  • Be over the age of 18.
  • Be an Australian citizen or permanent resident.
  • Be a UniBank member, or be eligible to become a member. Check the website for eligibility requirements.
  • Be able to pay a personal loan application fee of $100.
  • Work out your cash flow. If you are unable to meet your obligations for the loan, your application will not be accepted.

How do I become a UniBank member?

All you need to do to become a member is click on the “Go to Site” button and then click “Why Join Us”. If you are eligible to join, you will need to provide the following which can be done during the online application process:

  • Two identification documents with your full name, date of birth and address. These can include your driver’s licence or your passport.
  • A one-time payment of $10 for a membership share.

Once you are a member you can apply for any loan that UniBank has to offer, including its personal loan.

Although UniBank’s All Purpose Personal Loan is fee-free and offers a competitive rate, it’s important to consider whether or not it meets your individual needs. Compare it against other loans before making a decision.

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