Finty
Credit Union SA

Credit Union SA Green Loan Secured

SecuredFixed rate

Our Green Loan is available for non-members and members seeking to purchase any eligible green product that provides a benefit to the environment. The minimum loan amount is $5,000. The interest rate of this product is fixed for the life of the loan up to a maximum of 7 years. Principal and interest repayments. Available for consumer purpose.

Written byDavid Boyd
Interest rate a year, from
6.14%
Comparison rate, from
6.14%
Establishment fee
$250
Monthly fee
Not published
Borrow
$5,000 to $100,000

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 6.14%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$610
Total repayments
$21,949
Interest
$1,949

Loan details

Rates

Interest rate (a year)
6.14%–7.49%
Comparison rate (a year)
6.14%–7.84%
Rate type
Fixed
Security
Secured

Limits and fees

Loan amount
$5,000 to $100,000
Loan term
Up to 7 years
Establishment fee
$250
Monthly fee
Not published

How it compares

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

Comparison rate

6.14%

From 6.14%. A typical loan starts at 8.63%.

Cost of $20,000 over 5 years

$3,528

Interest and fees at its starting rate. Typical is $4,624.

Setup fee

$250

A typical setup fee is $250.

Most you can borrow

$100,000

Typically you can borrow up to $100,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • A lower starting rate. Its comparison rate starts at 6.14%, below the typical 8.63%, and the comparison rate counts the standard fees too, so it's a fair guide to a lower overall cost.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • 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

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 6.14% to 7.49%, and only some people get the starting rate.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.

Similar loans

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