The new rate of 9.89% p.a. for an unsecured fixed rate personal loan sits inside the top five rates being offered in an extremely competitive market.
CUA Head of Product Barbara O’Conor Nash said the personal loan market has become very competitive and CUA’s current personal loan offer would help support members achieve their ambitions.
“As we approach the end of the financial year, consumers are thinking about their plans for the rest of the year, while considering their financial options required for their future goals,” Ms O’Conor Nash said.
“As tax time approaches, people are also looking carefully at their budgets. Offering an unsecured personal loan below 10% p.a. means CUA will be able to help more Australians realise their 2019 goals sooner, without them needing to resort to other finance options which may come with much higher interest rates and fees.
“Those goals could include DIY renovations at home, a second-hand car for their children, planning a family holiday for later in the year or even taking the initiative to consolidate their debts.”
The CUA fixed rate unsecured personal loan has no monthly fees or extra charges for additional payments, rewarding those members who decide to pay back their loan more quickly.
“CUA is committed to helping to improve the financial wellbeing of our members, by combining our competitive rates with our genuine personalised service, helping to build meaningful relationships to ensure we support them on every step of their journey,” Ms O’Conor Nash said.
“Anyone who joins CUA also has access to our full suite of digital tools and will be able to access our iM CUA smart phone app, the first app in Australia to allow users to select a personal banker to assist with their banking or insurance needs.”
The new Unsecured Fixed Personal loan product is only available for new lending. For terms and conditions, and further information, click here (link to product page).
Rates current as at 12 April 2019, are subject to change and are applicable to advertised loan only. Loans issued by Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit License 238317, to new and approved applicants only. Lending criteria, fees and charges and conditions apply. CUA Personal Loans must be for a period of 1 to 7 years and for a loan of $1,000 or more. WARNING: Comparison rate calculated on a $30,000 loan with monthly repayments over 5 years, only applies to examples given and does not consider all fees, charges and features of the products.