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Queensland Country Bank personal loans – Explore your options
As a Queensland borrower, Queensland Country Bank may suit you for a couple of reasons. First, it’s a member-owned financial institution, so profits are reinvested to benefit members. Second, it’s a bank dedicated to serving the financial needs of Queenslanders specifically.
This translates to personalised service and competitive products for all members. The Queensland Country Bank has been up and running since 1971. First as Isa Mine Employees’ Credit Union and later on as Queensland Country Credit Union.
The bank offers financial products such as home loans, credit cards, and personal loans – the last of which BestFind now takes a closer look at.
Queensland Country Bank personal loans: Quick overview
Loan amounts – From $3,000 to $50,000 (depending on loan type)
Loan terms – From 1 to 10 years (depending on loan type)
Interest rate – Green Reno personal loans start at 5.74% p.a. and unsecured loans from 13.95% p.a.
Interest rate type – Variable rate and fixed (depending on loan type)
Pros – Both secured and unsecured options are available. If you’re a member, you can enjoy fast funding since you receive your money on the same day you accept your offer.
Cons – Branches are only available in Queensland. You also have to pay an establishment fee and ongoing monthly charges.
Best for – Queenslanders looking to join a member-owned bank that’s focused on the local community. Types of loans offered by Queensland Country Bank
When applying with Queensland Country Bank, you may choose from the following options:
Unsecured personal loan. With no security, you can access a minimum small personal loan of $1,000 and up to $20,000. Loan terms range up to 5 years.
Secured personal loan. Queensland Country Bank says this product is perfect for borrowers looking to finance a used car, boat, caravan, motorcycle, or another type of vehicle. You can also use an existing vehicle as collateral if you want the funds for something else, like a holiday or debt consolidation. Repayment periods go up to 7 years.
New car loan. This option enables you to finance a car that’s not more than 3 years old. Your purchase will guarantee the debt, which explains the competitive rate. You can borrow up to $75,000 over a maximum of 7 years.
Reno loan. If you’ve got a home improvement project in the works, you can access between $3,000 and $50,000 without extending your mortgage. Terms are from 1 to 7 years.
Green Reno loan. If you’ve got a green home improvement project in the works, such as insulation, solar, double-glazed windows or battery storage, enjoy an even lower interest rate. Terms are from 1 to 10 years.
Personal line of credit. This is an overdraft facility, so you can use it continually for those times you need extra cash. It allows you to borrow up to 80% of your property’s value at a low rate. Features of Queensland Bank personal loans
Pre-approval is available for secured credit to help boost your bargaining power when you set off to make your purchase.
You’re able to make additional repayments if you want to close your account early to save on borrowing costs. There’s no extra repayment fee.
However, there’s also no redraw facility, so you won’t be able to access any extra repayments you make.
Your options for repayment frequency include weekly, fortnightly, or monthly repayments. Our Queensland Country Bank personal loan calculator is available if you want to estimate your monthly repayments.
Fees and charges include a $120 establishment fee and a $10 monthly fee ($5 for new car loans). A document fee may also apply.
Here are the basic eligibility requirements:
Be at least 18 years of age
Be an Australian citizen or permanent Australian resident
Have a regular income or paid employment
Must not have been bankrupt
To apply online, you’ll also need details of your income from your latest payslips, assets, liabilities, and where applicable, details about the vehicle you’re purchasing.
How to apply
Applying for a Queensland Country Bank personal loan is as simple as clicking “Go to Site” in the table above. You can fill in the application form within 20 minutes on the lender’s website.
Once you’re approved and accept your loan contract, you’ll receive the funds on the same day. This is only if you’re a current member and choose a Queensland Country account as the recipient account.
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