Finty
Credit Union SA

Credit Union SA Green Loan Unsecured

UnsecuredFixed 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

7.79%

interest rate a year, from

7.79%

comparison rate, from

Establishment fee
$250
Monthly fee
Not published
Borrow
$5,000 to $30,000

What it would cost

At the lowest published rate of 7.79%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$625
Total repayments
$22,492
Interest and monthly fees
$2,492

Loan details

Rates

Interest rate (a year)
7.79%–8.79%
Comparison rate (a year)
7.79%–9.14%
Rate type
Fixed
Security
Unsecured

Limits and fees

Loan amount
$5,000 to $30,000
Loan term
Up to 7 years
Establishment fee
$250
Monthly fee
Not published

How it compares

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

Comparison rate

7.79%

From 7.79%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$4,461

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

Setup fee

$250

A typical setup fee is $213.

Most you can borrow

$30,000

Typically you can borrow up to $50,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • A lower starting rate. Its comparison rate starts at 7.79%, below the typical 10.56%, 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.
  • 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

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 7.79% to 8.79%, and only some people get the starting rate.
  • A lower limit. Up to $30,000, less than the typical $50,000, so it may not cover a larger purchase.

Similar loans

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