Transport Mutual Credit Union Unsecured Loan

UnsecuredVariable rate

An unsecured personal loan from Transport Mutual Credit Union, with rates from 11.39% a year.

Monthly repayment

$20,000 over 3 years

What it would cost

At the lowest published rate of 11.39%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

BorrowOver

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

Comparison rate

11.71%

From 11.71%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$6,520

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

Setup fee

$195

A typical setup fee is $213.

Most you can borrow

$30,000

Typically you can borrow up to $50,000.

One rate for everyone. Everyone approved gets 11.39%, so the rate you see is the rate you get.
No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
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.

A lower limit. Up to $30,000, less than the typical $50,000, so it may not cover a larger purchase.
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.

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