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Personal Loan FAQs

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Below is a list of answers to some of our members most frequently asked Personal Loan-related questions.

If you have a question of your own that is not covered below, then please contact us today.

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  Do I have to be a member?

Anyone can enquire or apply for a loan with us - you don't have to be a member at the time. You will need to become a member when you take out the loan. We are a mutual financial services organisation whose shareholders are its members, and you must be a member before you can take up a product or service with us.

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  How much can I borrow?

The minimum amount you can borrow is $2,000 for a Personal Loan. You may wish to consider a credit card or overdraft for smaller amounts. The maximum amount you can borrow is $35,000 with an unsecured loan, although this will depend upon your circumstances. Secured loans are dependent upon the security offered. In all circumstances our personal loans are limited by your ability to meet your repayments.

Personal loan calculator

  How do I make repayments?

You can arrange to make your loan repayments either by payroll deduction, scheduled transfer from your savings or transaction account, Internet or telephone banking transfer, at our office or by a transfer from another financial institution. 

  How do I stay informed?

Statements are produced at least every six months. Additional or duplicate statements can be requested at anytime from our office. Account information also available through our Internet and Phone banking services.

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  What security is required?

The security required will depend upon your individual circumstances. Examples of the type of security we may require are a mortgage over property and a Bill of Sale over an asset such as a motor vehicle. A fee is payable where this is required.

  What if I get sick or lose my job?

The best way to obtain peace of mind that your repayment obligations will be met in the case of an accident, illness or involuntary unemployment is to take out Loan Repayment Insurance.

Loan Repayment Insurance

  Do I need to take out insurance?

It is recommended that you take out insurance on your loan. Although it is not compulsory it is designed to cover your lending obligations in the case of sickness, accident or involuntary unemployment. Although you do not have to purchase your insurance through us, we do offer a range of insurance policies. 

Loan Repayment Insurance


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