Finty
Credit Union SA

Credit Union SA Education Community Variable Rate Personal Loan

UnsecuredVariable rate

Our Education Community Variable Rate Personal Loan is is exclusive to current or retired employees of the South Australian education community, students carrying out studies in education, and their eligible immediate family members. It is an unsecured personal loan. The minimum loan amount is $5,000 and a maximum loan amount of $50,000.

Written byDavid Boyd
Interest rate a year, from
12.60%
Comparison rate, from
12.60%
Establishment fee
None
Monthly fee
Not published
Borrow
$5,000 to $50,000

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 12.60%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$670
Total repayments
$24,121
Interest
$4,121

Loan details

Rates

Interest rate (a year)
12.60%
Comparison rate (a year)
12.60%
Rate type
Variable
Security
Unsecured

Limits and fees

Loan amount
$5,000 to $50,000
Loan term
Not published
Establishment fee
None
Monthly fee
Not published

How it compares

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

Comparison rate

12.60%

From 12.60%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$7,059

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

Setup fee

None

A typical setup fee is $213.

Most you can borrow

$50,000

Typically you can borrow up to $50,000.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 12.60%, so the rate you see is the rate you get.
  • No setup fee. Nothing is added to the loan on day one, so you only pay interest on what you borrow.
  • 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 variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Similar loans

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