Cairns Penny is a mutual bank based in Cairns. The bank was established in 1899 to provide Cairns residents with an alternative to traditional banks. Cairns Penny is owned and governed by its customers, which means it does not have external shareholders.
During its long history, Cairns Penny has introduced an online banking portal for customers as well as online customer service.
Cairns Penny operates only one bank branch, which is in Cairns, Queensland.
Cairns Penny personal loan repayment calculator
Cairns Penny Personal Loans rates
Cairns Penny personal loans - customer service
Cairns Penny customer service is available by phone, email, online message, or by visiting its Cairns branch.
Branch and phone hours are between 9:00am and 4:00pm on weekdays.
Who is eligible for a Cairns Penny personal loan?
- Must be at least 18 years old
- Must be a permanent Australian resident or citizen
How to apply for a Cairns Penny personal loan?
- Cairns Penny does not have an online application process
- To apply, customers must book a loan appointment with Cairns Penny
Cairns Penny personal loans review
Cairns Penny is a regional customer-owned bank. As such, it has a thinner range of personal loan options.
Cairns Penny personal loan interest rates vary between their secured and unsecured options. Its current personal loan interest rates range from moderately low to moderate, depending on the product you choose. It’s best to compare personal loan rates before applying in order to find the best personal loan rates for your financial situation.
Customers with Cairns Penny personal loans can choose between weekly, fortnightly or monthly repayments and can make additional repayments with no penalty. Cairns Penny also offers a redraw facility.
Because Cairns Penny only operates a single branch in Cairns, customers from other areas may not find their offering suitable. However, potential borrowers living near Cairns may find Cairns Penny a convenient option.
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It may be much more difficult for a self-employed borrower to successfully apply for a personal loan if they also have bad credit. Many lenders already consider self-employed borrowers to be riskier than those in full time employment, so several self-employed personal loans require borrowers to have excellent credit.
If you’re a self-employed borrower with a bad credit history, there may still be personal loan options available to you, such as securing your personal loan against a vehicle of equity in a property, though your interest rates may be higher than those of other borrowers. Consider contacting a lender before applying to discuss your options.