SCU is one of the lending companies in Australia that provides secured and unsecured loans. Although SCU offers a limited range of loans, it is suitable for a variety of purchases, including home renovations, a new car or a vacation abroad. This post, we introduce the interest rate of SCU personal loans.

SCU Personal Loans
SCU personal loans are suitable for a variety of purchases

In the previous post, Loansaustralia.net introduces people to some of the necessary information that is useful for getting the Coastline personal loans, to get more information people can read the article Get Coastline personal loans with the best interest rate. Now, let find knowledge about loans of SCU in the post today.

SCU PERSONAL LOANS

Just like a lot of article posts about the personal loans in Australia, as well as each type of loans such as Hunter United personal loans, Now Finance personal loans, ClearLoans personal loans, MoneyPlace personal loans…. this post about the SCU loans also includes some main parts. They are:

1. Some requirements to apply for SCU loans

To get personal loans from SCU, customers need to meet some requirements, they are:

  • Customers are an Australian citizen or permanent resident
  • Customers are at least 18 years of age
  • Customers have earned a regular, permanent income

Customers need to gather the following (and the co-applicant if applying jointly) before starting the application process in SCU:

  • The amount required, the purpose of the loan,  and the proposed loan term.
  • Customers need to have a driver’s license number and expiry date.
  • Customers’ employment income: name of the employer, duration of employment, amount and frequency of gross income.
  • Customers will need to supply the tax returns or profit and loss statements if self-employed for the previous two years.
  • The detail current value of all assets customers owns such as cash, property, vehicles, and superannuation.
  • The details of financial commitments: the outstanding balances and repayment amounts, frequencies. Customers will need to supply the most recent statements for all financial commitments.
  • The detailed breakdown of the monthly costs of living: utilities, healthcare, education, clothing, food, communication, insurance, transport, and other ongoing monthly expenses.
  • The contact details of two referees in Australia who do not live with customers or each other.
SCU Personal Loans
SCU personal loans are suitable for a variety of purchases

2. The interest rate and fees of SCU loans

  • The loan amount. Customers can borrow exactly what they need, with loan amounts available from $5,000 to $30,000.
  • The loan term. Customers can choose any personal loan term to suit their needs. Personal loan terms of SCU are available from 1 to 7 year(s).
  • The interest rate. The interest rate from 7.99% p.a.
  • The application fee. Customers need to pay for $100 application fee.
  • No security required. As an unsecured personal loan, no assets are required to be offered as security for the loan amount.
  • No annual or monthly fees. Customers do not need to pay for annual or monthly fees apply to the loan even after the introductory period is over.
  • Fee-free early repaymentsCustomers can repay the loan as early as they like without incurring early repayment fees.
  • Redraw facility.  When loan repayments are in advance of at least one month’s normal repayments plus $100 and attract a fee of $20 each time.
  • Loan repayment insurance. To ensure that loan repayments are made in the injury, the event of an accident, or unemployment, customers can choose some insurance products.

Example:

  • Customers get $30,000
  • Loan term 5-year
  • The application fee: $100 application fee.
  • The interest rate is 7.999% p.a. (15.51% p.a. comparison rate)
  • The total amount payable is $32,397 including interest and fees
  • Each month, customers need to pay $899.916.

This post is about loans of SCU. We provide this information to offer you some of the necessary information that is useful for getting loans from SCU. Also if you are looking for information about the personal loans from Hunter United, please refer to the Hunter United personal loans link we just provided in the previous article.

Anita (Team Content) – SCU personal loans