Important disclosure

The Mac Personal Loans

The Mac is a small financial institution that can make big dreams affordable. Compare the Mac personal loans below and use our calculator to see if borrowing from this lender is “worth living your dreams sooner.”

Calculate your repayments

Loan Amount

$10,000

Term

3 months

The Mac

Secured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
12.49%
Advert. Rate (p.a)
Comparison rate
Our Secured Personal Loans can help you live your dreams sooner than you thought possible. Borrow with a team you trust and take advantage of our flexible and easy personal loans
The Mac

Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
15.49%
Advert. Rate (p.a)
Comparison rate
Whether you're dreaming of far away destinations or of revolutionising the world with your next big invention, our Unsecured Personal Loans are a flexible and simple solution from an ethical and trusted team.
The Mac

Personal Loan Unsecured

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
Whether you're dreaming of far away destinations or of revolutionising the world with your next big invention, our Unsecured Personal Loans are a flexible and simple solution from an ethical and trusted team.
The Mac

Debt Consolidation Loan

EST Monthly Repayment
EST Monthly Repayment
16.99%
Advert. Rate (p.a)
Comparison rate
Life is too short to stress over multiple debts, rising loan repayments and different due dates. Consolidate your debts into a single loan repayment with a team you can trust.

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Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between $1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan of $10,000 for a term of 3 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. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

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The Mac personal loans – Fast forward your dreams and goals

The MacArthur Credit Union or simply The Mac offers an assortment of personal loan options. That means you have the flexibility to choose the right product for your particular need or fancy. Our detailed review covers the things you should know about The Mac personal loans so you can decide the best fit for you.

Personal loan options offered by The Mac

You have several loan options when borrowing from The Mac, including:

  • Secured personal loan. The Mac secured personal loan allows you to buy a used car, renovate your home or go on holiday. This loan, however, requires security, typically a vehicle, that’s registered under the Personal Property Security Register (PPSR) for a $15 fee. You then get a lower interest rate than the unsecured loan (12.99% vs 15.99%). Generally, borrowing limits are set between $2,000 and $50,000.
  • Unsecured personal loan. The Mac unsecured loan can be used for the same purposes as the secured loan. But you won’t have to provide security, hence the higher rate. You can borrow between $1,000 and $30,000.
  • Debt consolidation loan. The Mac debt consolidation loan pays off your multiple debts, so you’re left with only a single repayment. That means you spend less time managing your debt, and you don’t have to keep track of different due dates.
  • Personal overdraft. The Mac personal overdraft is a great option to have when you need ongoing financial backup. You only pay interest on what you borrow, and you can tap into the funds anytime up to an approved limit.
  • Car loans. The Mac also offers new and used car loans. Pre-approval is available, and you can also use the money to buy a motorbike or caravan. Find out more in our The Mac car loans guide.

Features and benefits of The Mac personal loans

  • Quick turnaround. The Mac offers its borrowers a fast loan turnaround time.
  • Flexible loan terms. Since The Mac offers loan terms of between 1 and 7 years, it’s possible to choose monthly repayments that match your budget.
  • Flexible repayment options. With weekly, fortnightly, or monthly loan repayment options, you can pay off your loan according to what suits your income cycle.
  • Extra repayments. You can make additional repayments and clear your debt at an earlier date without penalty.
  • Variable interest rates. Your rate might fluctuate along with the Bank of Australia cash rate. The advantage is you can save if the rate falls, but the downside is you could end up paying more if the rate rises.
  • Fewer fees and charges. There’s an upfront establishment fee of $250. However, there are no ongoing fees, account keeping fees, or early repayment fees.

How to apply for The Mac personal loans

You must be a member to take out a loan with The Mac. Additionally, you have to be a permanent Australian resident aged 18+ years. You’ll also need to provide details about your:

  • Employment
  • Income
  • Living expenses
  • Assets such as land, property, savings, shares, and super
  • Debts – the amount you owe, limits, and repayments

You can use The Mac personal loan calculator to find your desired repayment or to compare with other loan options available in the table above. Once you decide to apply, click “Go to Site” to access The Mac’s website.

More about The Mac

As a mutual financial institution, The Mac is member-owned and invests its profits back to increase benefits for members. It was founded in 1971 by local miners and truck drivers and currently has four branches in Camden, Narellan, Picton, and Tahmoor. On top of personal loans, The Mac also provides home loans and car loans.

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