Orange Credit Union Secured Personal Loan

SecuredVariable rate

A secured personal loan from Orange Credit Union, with rates from 10.89% a year.

Monthly repayment

$20,000 over 3 years

What it would cost

At the lowest published rate of 10.89%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

BorrowOver

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

Comparison rate

11.27%

From 11.27%. A typical loan starts at 8.63%.

Cost of $20,000 over 5 years

$6,275

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

Setup fee

$250

A typical setup fee is $250.

Most you can borrow

$120,000

Typically you can borrow up to $100,000.

One rate for everyone. Everyone approved gets 10.89%, so the rate you see is the rate you get.
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.

A higher starting rate. Its comparison rate starts at 11.27%, above the typical 8.63%, so it's likely to cost more than most similar loans unless you're offered less.
A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.

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