The Mutual Personal Loan Rates & Fees, Review & Compare - Best Find

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Personal loan amount

Term of personal loan

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Personal loan provider

The Mutual Personal Loans

Secured Personal Loan

Talk to us for a competitive interest rate on car and personal loans.

Overview

Minimum loan amount$1,000

Maximum loan amountNo maximum

Minimum term (years)1 Year

Maximum term (years)7 Years

Advertised rate8.49%

Comparison rate9.16%

Monthly repayments (approx)$321

Total repayments (approx)$11,589

Total interest repayments (approx)$1,589

Rate typeFixed

Secured or unsecuredSecured

Security required Yes

Encumberance/REVVS check fee$0

Application / establishment fee$200

Other Fees & Information

Monthly fee$0

Quaterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$18

For debt consolidation?Yes

Sponsored No

Telephone1300 688 825

Data accurate as of6/04/2017

Comparison rate warning Comparison Rate is calculated on a loan amount of $30,000 for a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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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 The Mutual 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 The Mutual personal loans, there are other important things to consider and understand, other than just The Mutual’s interest rates.

What personal loan options does The Mutual offer?

The Mutual has 1 personal loan product:

  • The Mutual Secured Personal 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 The Mutual home loans.

Do you have a The Mutual 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 The Mutual Personal Loan?

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

The Mutual’s personal loan eligibility criteria

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

The Mutual’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 The Mutual 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 The Mutual

  • 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 The Mutual personal loan

There are many additional factors The Mutual 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 The Mutual 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 The Mutual will lend for:

 

Additional product information

The Mutual’s minimum and maximum personal loan amounts and terms

You can borrow between $1,000 and $80,000. Over terms between 1 year and 7 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

The Mutual’s repayment schedule

The Mutual allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

The Mutual allows you to make additional or early repayments. There are fees associated with completely repaying your loan off early.

Redraw facility

The Mutual’s Variable Rate Personal Loan gives you the option of being able to make redraws.