Finty
Police Credit Union

Police Credit Union Fixed Rate Personal Loan

Fixed or Variable rate

A personal loan from Police Credit Union, with rates from 7.24% a year.

Written byDavid Boyd
Interest rate a year, from
7.24%
Comparison rate, from
7.65%
Establishment fee
$195
Monthly fee
Not published
Borrow
From $5,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 7.24%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$620
Total repayments
$22,311
Interest
$2,311

Loan details

Rates

Interest rate (a year)
7.24%
Comparison rate (a year)
7.65%
Rate type
Fixed or Variable
Security
Not published

Limits and fees

Loan amount
From $5,000
Loan term
Up to 5 years
Establishment fee
$195
Monthly fee
Not published

How it compares

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

Comparison rate

7.65%

From 7.65%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$4,093

Interest and fees at its starting rate. Typical is $5,513.

Setup fee

$195

A typical setup fee is $150.

Longest term

5 years

7 years is the usual longest term.

Pros and cons

Pros

  • A lower starting rate. Its comparison rate starts at 7.65%, below the typical 10.14%, and the comparison rate counts the standard fees too, so it's a fair guide to a lower overall cost.
  • One rate for everyone. Everyone approved gets 7.24%, 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.

Cons

Nothing stands out.

Similar loans

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