Finty

Woolworths Team Bank Personal Unsecured Loan

UnsecuredVariable rate

An unsecured personal loan from Woolworths Team Bank, with rates from 15.35% a year.

Written byDavid Boyd
Interest rate a year, from
15.35%
Comparison rate, from
17.66%
Establishment fee
$299
Monthly fee
Not published
Borrow
Not published

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 15.35%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$697
Total repayments
$25,083
Interest
$5,083

Loan details

Rates

Interest rate (a year)
15.35%
Comparison rate (a year)
17.66%
Rate type
Variable
Security
Unsecured

Limits and fees

Loan amount
Not published
Loan term
Not published
Establishment fee
$299
Monthly fee
Not published

How it compares

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

Comparison rate

17.66%

From 17.66%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$9,068

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

Setup fee

$299

A typical setup fee is $213.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 15.35%, 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.
  • 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 higher starting rate. Its comparison rate starts at 17.66%, above the typical 10.56%, so it's likely to cost more than most similar loans unless you're offered less.
  • A higher setup fee. $299, above the typical $213. It's usually added to the loan, so you pay interest on it too.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Similar loans

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