Finty
Credit Union SA

Credit Union SA Variable Rate Personal Loan

UnsecuredVariable rate

Our Variable Rate Personal Loan is an unsecured personal loan. 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
13.60%
Comparison rate, from
14.12%
Establishment fee
$350
Monthly fee
Not published
Borrow
$5,000 to $50,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 13.60%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$680
Total repayments
$24,468
Interest
$4,468

Loan details

Rates

Interest rate (a year)
13.60%
Comparison rate (a year)
14.12%
Rate type
Variable
Security
Unsecured

Limits and fees

Loan amount
$5,000 to $50,000
Loan term
Not published
Establishment fee
$350
Monthly fee
Not published

How it compares

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

Comparison rate

14.12%

From 14.12%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$8,024

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

Setup fee

$350

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 13.60%, 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 higher starting rate. Its comparison rate starts at 14.12%, above the typical 10.56%, so it's likely to cost more than most similar loans unless you're offered less.
  • A higher setup fee. $350, above the typical $213. It's usually added to the loan, so you pay interest on it too.
  • 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.