Finty
SCCU

SCCU Emoney Unsecured Personal Loan

UnsecuredFixed rate

Personal Loan from $20K-$50K with no security required.

Written byDavid Boyd
Interest rate a year, from
9.64%
Comparison rate, from
10.56%
Establishment fee
$250
Monthly fee
$8
Borrow
$20,000 to $50,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 9.64%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$650
Total repayments
$23,399
Interest and monthly fees
$3,399

Loan details

Rates

Interest rate (a year)
9.64%–13.64%
Comparison rate (a year)
10.56%–14.53%
Rate type
Fixed
Security
Unsecured

Limits and fees

Loan amount
$20,000 to $50,000
Loan term
3 years to 7 years
Establishment fee
$250
Monthly fee
$8

How it compares

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

Comparison rate

10.56%

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

Cost of $20,000 over 5 years

$6,014

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

Setup fee

$250

A typical setup fee is $213.

Monthly fee

$8

A typical monthly fee is $10.

Most you can borrow

$50,000

Typically you can borrow up to $50,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • A 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 9.64% to 13.64%, and only some people get the starting rate.
  • A $8 monthly fee. That adds $480 over 5 years, as well as the interest.

Similar loans

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