First Option Credit Union Personal Loan Rates & Fees, Review & Compare - Best Find

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First Option Credit Union Personal Loans

Fixed Interest Personal Loan

Provides you with the peace of mind that comes from knowing that your rates and repayments remain the same for a fixed period of up to 3 years.

Overview

Minimum loan amount$1,000

Maximum loan amountNo maximum

Minimum term (years)1 Year

Maximum term (years)3 Years

Advertised rate9.99%

Comparison rate10.24%

Monthly repayments (approx)$328

Total repayments (approx)$11,817

Total interest repayments (approx)$1,817

Rate typeFixed

Secured or unsecuredUnsecured

Security required No

Encumberance/REVVS check fee$0

Application / establishment fee$175

Other Fees & Information

Monthly fee$0

Quaterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?No

Sponsored No

Telephone1300 855 675

Data accurate as of5/04/2017

Comparison rate warning Comparison rates are calculated on a loan amount of $30,000 over a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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Personal Loan

Whatever it is you want, a big screen TV, a holiday or even home renovations - we can help you get it.

Overview

Minimum loan amount$1,000

Maximum loan amount$40,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Advertised rate13.99%

Comparison rate14.25%

Monthly repayments (approx)$347

Total repayments (approx)$12,517

Total interest repayments (approx)$2,517

Rate typeVariable

Secured or unsecuredUnsecured

Security required No

Encumberance/REVVS check fee$0

Application / establishment fee$175

Other Fees & Information

Monthly fee$0

Quaterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?No

Sponsored No

Telephone1300 855 675

Data accurate as of5/04/2017

Comparison rate warning Comparison rates are calculated on a loan amount of $30,000 over a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Hide info ˄

BeGreen Loan

If you would like to be greener by improving the insulation at home, buying a water tank or installing a solar energy unit, First Option can provide you the funds you need to make that step towards a cleaner and greener home

Overview

Minimum loan amount$2,000

Maximum loan amountNo maximum

Minimum term (years)1 Year

Maximum term (years)7 Years

Advertised rate8.99%

Comparison rate9.24%

Monthly repayments (approx)$323

Total repayments (approx)$11,646

Total interest repayments (approx)$1,646

Rate typeFixed

Secured or unsecuredUnsecured

Security required No

Encumberance/REVVS check fee$0

Application / establishment fee$175

Other Fees & Information

Monthly fee$0

Quaterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?No

Sponsored No

Telephone1300 855 675

Data accurate as of5/04/2017

Comparison rate warning Comparison rates are calculated on a loan amount of $30,000 over a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Hide info ˄

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Did you know you can compare 100’s of personal loans? Browse, filter and on our main personal loans comparison page.

Compare and review First Option Credit Union personal loan rates

Looking to make major purchase, go on a holiday or perhaps to consolidate your existing debts into one simple regular repayment? When comparing First Option Credit Union personal loans, there are other important things to consider and understand, other than just First Option Credit Union’s interest rates.

What personal loan options does First Option Credit Union offer?

First Option Credit Union has 3 personal loan products:

  • First Option Credit Union Fixed Interest Personal Loan
  • First Option Credit Union BeGreen Loan

 

View the above table for detailed product information and a comparison of the interest rates, fees and features.

You can also review and compare First Option Credit Union car loans, First Option Credit Union home loan and First Option Credit Union credit cards.

Do you have a First Option Credit Union personal loans calculator?

Yes. Use the filter to adjust your loan amount and term to calculate your approximate monthly repayments. When you apply the filter, you will see a breakdown of your approximate monthly repayments as well as the total amount of interest and fees paid.

How to apply for a First Option Credit Union Personal Loan?

If you’d like to apply online for a First Option Credit Union personal loan, just scroll up and click on “Learn more” to be taken to First Option Credit Union’s secure online application form. Before you apply, be sure to learn about First Option Credit Union’s personal products, fees and eligibility criteria. Give yourself around 30 minutes to complete the application.

First Option Credit Union’s personal loan eligibility criteria

Before you apply for a personal loan, be sure to understand and meet the First Option Credit Union’s lending criteria. Below is high-level overview of First Option Credit Union’s criteria:

First Option Credit Union’s minimum requirements for a personal loan

  • Minimum age of 18
  • Earn a minimum of $15,000 per annum
  • An Australian citizen, permanent resident or have a valid visa

Information you’ll need to provide

Whether at the First Option Credit Union branch or online, make sure to have the following nearby:

  • Proof of income. A verifiable and steady employment. You may be required to provide copies of your most recent pay slips and employer’s contact information
  • A list of your assets, expenses and liabilities
  • Driver’s licence (if you have one) or other forms of ID

Are you self-employed?

If you’re self-employed, you will also need to provide:

  • Financial statements for the last year
  • Your most recent personal/business tax return

Other things to keeping mind when applying with First Option Credit Union

  • It’s advantageous to have a good credit history. For example, you have no recent defaults and no frequent requests for credit
  • Credit cards with large credit limits are seen as liabilities, even if there’s nothing owing. If you have existing liabilities, be certain you can pay them off in addition to your First Option Credit Union personal loan

There are many additional factors First Option Credit Union consider when accessing your application, but the above are the most important. If you feel like you may not meet their eligibility criteria, it may be best to save!

What can you use a First Option Credit Union personal loan for?

You can borrow for almost any worthwhile purpose. No, going to the casino and putting it all on black is not a worthwhile purpose.

Examples of common loan purpose First Option Credit Union will lend for:

 

Additional product information

First Option Credit Union’s minimum and maximum personal loan amounts and terms

You can borrow between $1,000 and $80,000. Over terms between 1 year and 3 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

First Option Credit Union’s repayment schedule

First Option Credit Union allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

First Option Credit Union allows you to make additional or early repayments. There are fees associated with completely repaying your loan off early.

Redraw facility

First Option Credit Union’s Variable Rate Personal Loan gives you the option of being able to make redraws.