Are you looking for a loan from Catalyst Money? But you do not find somethings about Catalyst Money? Do not worry because Catalyst Money has merged with Illawarra Credit Union. Therefore, you can get Catalyst Money personal loans from Illawarra Credit Union.
In the previous post, Loansaustralia.net introduces people to some of the necessary information that is useful for getting the MoneyPlace personal loans, to get more information people can read the article You can get MoneyPlace personal loans in FOUR steps. Now, let find knowledge about loans of Catalyst Money in the post today.
CATALYST MONEY PERSONAL LOANS
Just like a lot of article posts about the personal loans in Australia, as well as each type of loans such as Credit24 personal loans, WisR personal loans, CUA personal loans, Now Finance personal loans…. this post about the Catalyst Money loans also includes some main parts. They are:
1. Some requirements to apply for Catalyst Money loans
Catalyst Money is an online union that believes in the power of a community. It is a member-owned credit union, which means it runs to profitable members. This organization offers a range of personal loans, term deposits, and direct banking.
Catalyst started as a financial provider for employees and families of some NSW universities, but it has been extended to serve any member of the community. Catalyst Money also has a number of partnerships with community groups such as Hockey NSW, Football South Coast, and Macarthur Football Association, allowing members of these associations to have additional benefits.
Catalyst Money is now the Illawarra Credit Union. Catalyst Money has merged with Illawarra Credit Union. If you want to receive a personal loan from Catalyst Money, you can get a loan from Illawarra Credit Union.
How to get personal loans from Catalyst Money as well as Illawarra Credit Union?
Part of the personal loan application process includes the ability to verify the following:
- Age. You will be able to prove that you are at least 18 years old.
- Resident. You will also have to provide documentation that shows you are an Australian permanent resident.
The lender is obliged to ensure that you can financially respond to the terms of the personal loan in Catalyst Money as well as Illawarra Credit Union. This is done by reviewing the following:
- Income. Using paychecks or tax documents, you can display your annual salary.
- Asset. Assets are valuable items like any car or property you can own.
- In debt. You will need to show your financial obligations using reports from loans and credit cards.
2. Some benefits and drawbacks of Catalyst Money loans
2.1. Some benefits
You have a number of options to view through a personal loan from Catalyst Money or ICU. Compare the following features to find the best performing loan in your situation:
- Special sale. Catalyst Money, as well as ICU, offers several options in which you can save money with discounted rates.
- Refund option. Most home loans offered to allow you to choose between weekly, two-week and monthly payments.
- Offsetting account. Choose a home loan with a 100% offset account and you’ll save interest during the life of the loan.
- Pay more. By accepting additional refunds without penalty, you can pay off your home loan earlier.
2.2. Some drawbacks
- Monthly fee. Some loans with monthly fees can amount to hundreds of dollars during the loan period.
- Lending fee. Although the application fee may be waived, there is a setup fee with many loans.
3. The interest rate and fees of Catalyst Money loans
Customer can get $10K to $100K with loans term from one to five years.
|Types of loans||Online personal loans package||Secured fixed personal loan (New)||Secured Fixed personal loan (Used)||Unsecured fixed personal loan|
|Interest rate||5.25% p.a.||5.90% p.a.||7.49% p.a.||10.90% p.a.|
|Comparison rate||5.89% p.a.||6.18% p.a.||7.77% p.a.||11.19% p.a.|
EXAMPLE: With a personal loan of $30,000 of Catalyst Money loans
- Borrowed for 3 years
- Interest rate: 5.25% = $1,575
- Repaying $887.083 per month
- The total amount payable of $31,575
This post is about loans of Catalyst Money. We provide this information to offer you some of the necessary information that is useful for getting loans from Catalyst Money. Also if you are looking for information about the personal loans from Symple, please refer to the Symple personal loans link we just provided in the previous article.
Anita (Team Content) – Catalyst Money personal loans