Finty
LCU

LCU Home Renovation Loan

UnsecuredVariable rate

An unsecured personal loan from LCU, with rates from 10.85% a year.

Written byDavid Boyd
Interest rate a year, from
10.85%
Comparison rate, from
11.14%
Establishment fee
Not published
Monthly fee
Not published
Borrow
$2,000 to $75,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 10.85%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$653
Total repayments
$23,521
Interest
$3,521

Loan details

Rates

Interest rate (a year)
10.85%
Comparison rate (a year)
11.14%
Rate type
Variable
Security
Unsecured

Limits and fees

Loan amount
$2,000 to $75,000
Loan term
Not published
Establishment fee
Not published
Monthly fee
Not published

How it compares

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

Comparison rate

11.14%

From 11.14%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$6,001

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

Most you can borrow

$75,000

Typically you can borrow up to $50,000.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 10.85%, so the rate you see is the rate you get.
  • Room to borrow more. Up to $75,000, more than the typical $50,000, which can cover bigger costs in one loan.
  • 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.