Finty
Community First Credit Union

Community First Credit Union Personal Loan

UnsecuredVariable rate

An unsecured personal loan for any worthwhile purpose with a competitive variable rate. Available for loans from $5,000 from 1-5 years.

Written byDavid Boyd
Interest rate a year, from
10.74%
Comparison rate, from
11.76%
Establishment fee
$249
Monthly fee
$10
Borrow
From $3,000

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 10.74%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$662
Total repayments
$23,843
Interest and monthly fees
$3,843

Loan details

Rates

Interest rate (a year)
10.74%
Comparison rate (a year)
11.76%
Rate type
Variable
Security
Unsecured

Limits and fees

Loan amount
From $3,000
Loan term
Not published
Establishment fee
$249
Monthly fee
$10

How it compares

Against the other unsecured personal loans we compare. Typical means the middle half of them.

Comparison rate

11.76%

From 11.76%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$6,785

Interest and fees at its starting rate. Typical is $5,455.

Setup fee

$249

A typical setup fee is $213.

Monthly fee

$10

A typical monthly fee is $10.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 10.74%, so the rate you see is the rate you get.
  • No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A $10 monthly fee. That adds $600 over 5 years, as well as the interest.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
  • A $25 late payment fee. Setting up automatic repayments avoids it.

Similar loans

Unsecured loans from other lenders that start at a similar comparison rate.