Finty
Transport Mutual Credit Union

Transport Mutual Credit Union Greenroad

Variable rate

A personal loan from Transport Mutual Credit Union, with rates from 7.14% a year.

Written byDavid Boyd
Interest rate a year, from
7.14%
Comparison rate, from
7.45%
Establishment fee
$220
Monthly fee
Not published
Borrow
From $1,000

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 7.14%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$619
Total repayments
$22,278
Interest
$2,278

Loan details

Rates

Interest rate (a year)
7.14%
Comparison rate (a year)
7.45%
Rate type
Variable
Security
Not published

Limits and fees

Loan amount
From $1,000
Loan term
Not published
Establishment fee
$220
Monthly fee
Not published

How it compares

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

Comparison rate

7.45%

From 7.45%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$4,061

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

Setup fee

$220

A typical setup fee is $150.

Pros and cons

Pros

  • A lower starting rate. Its comparison rate starts at 7.45%, 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 7.14%, so the rate you see is the rate you get.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • 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.
  • A $10 late payment fee. Setting up automatic repayments avoids it.

Similar loans

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