Community First Credit Union personal loan repayment calculator

Thinking about taking out a personal loan with Community First Credit Union? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Community First Credit Union personal loans compare with other options.

I'd like to borrow

$

Loan term

Credit Score ()

Your estimated repayment

at interest rate 4.64 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • No monthly fees
  • Free redraw facility
  • Additional repayments allowed
  • Limited branch access
  • Moderately high interest rates on certain loans
  • Limited range of loans

Community First Credit Union personal loans rates

Advertised Rate

4.64

% p.a

Variable

Comparison Rate*

4.91

% p.a

Variable

Repayment

$561

based on $30,000 loan amount for 5 years at 4.64%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Total Repayments icon

Total repayments for a 5-year, $30,000 loan at 4.91% would be $33,672*. Terms from - years

More details
Product
Advertised Rate

7.99

% p.a

Variable

Comparison Rate*

8.26

% p.a

Variable

Repayment

$608

based on $30,000 loan amount for 5 years at 7.99%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Total Repayments icon

Total repayments for a 5-year, $30,000 loan at 8.26% would be $36,489*. Terms from - years

More details
Product
Advertised Rate

7.99

% p.a

Variable

Comparison Rate*

8.26

% p.a

Variable

Repayment

$608

based on $30,000 loan amount for 5 years at 7.99%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Total Repayments icon

Total repayments for a 5-year, $30,000 loan at 8.26% would be $36,489*. Terms from - years

More details
Advertised Rate

5.99

% p.a

Variable up to 7.99%

Comparison Rate*

6.26

% p.a

Variable up to 8.27%

Repayment

$580

based on $30,000 loan amount for 5 years at 5.99%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Total Repayments icon

Total repayments for a 5-year, $30,000 loan at 6.26% would be $34,791*. Terms from - years

More details
Advertised Rate

11.99

% p.a

Variable

Comparison Rate*

12.28

% p.a

Variable

Repayment

$667

based on $30,000 loan amount for 5 years at 11.99%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Total Repayments icon

Total repayments for a 5-year, $30,000 loan at 12.28% would be $40,031*. Terms from - years

More details
Advertised Rate

11.99

% p.a

Fixed

Comparison Rate*

12.28

% p.a

Fixed

Repayment

$667

based on $30,000 loan amount for 5 years at 11.99%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Total Repayments icon

Total repayments for a 5-year, $30,000 loan at 12.28% would be $40,031*. Terms from - years

More details

Features of Community First Credit Union personal loan

Community First Credit Union provides personal loans that can be used for a range of expenses, including home renovations, one-off purchases and debt consolidation. Community First Credit Union offers both secured and unsecured loans with variable and fixed interest options.

Community First Credit Union personal loans have a maximum borrowing amount of $50,000 and a maximum loan term of 10 years. Personal loan interest rates on Community First Credit Union range from very low to moderately high.

Customers can make additional repayments and redraw their money with no penalty.

Community First Credit Union personal loans - customer service

Customers can reach Community First Credit Union by phone, email or online call-back form. Customer service is available from 8am-8pm on weekdays and from 8am-3pm on Saturdays.

Community First Credit Union has a designated phone number for international callers.

Who is eligible for a Community First Credit Union personal loan?

To be eligible for a Community First Credit Union personal loan, you must:

  • Be at least 18 years old
  • Be a permanent Australian resident or citizen
  • Have a regular income
  • Have been in your current job for longer than six months
  • Not be bankrupt

How to apply for a Community First Credit Union personal loan?

  • Click ‘Apply Now’
  • Choose your loan
  • Complete the online application form
  • Submit the online application form and wait for a response

Community First Credit Union personal loans review

As one of the smaller personal loan lenders in Australia, Community First Credit Union offers a thinner range of loans than larger banks. However, Community First Credit Union provides loans to suit a range of borrowers.

The features of Community First Credit Union personal loans vary from product to product, but generally customers can make additional repayments and redraws without penalty. Community First Credit Union does not charge a monthly account-keeping fee.

Community First Credit Union personal loan rates differ depending on the loan you choose. Community First Credit Union’s current personal loan interest rates range from very low to moderately high. Interest rates may vary depending on your financial standing.

It’s important to compare personal loan rates before choosing your loan in order to find the best personal loan rates for your financial situation.

Learn more about personal loans

What is a bad credit personal loan?

A bad credit personal loan is a personal loan designed for somebody with a bad credit history. This type of personal loan has higher interest rates than regular personal loans as well as higher fees.

How much can you borrow with a bad credit personal loan?

Borrowers who take out bad credit personal loans don’t just pay higher interest rates than on regular personal loans, they also get loaned less money. Each lender has its own policies and loan limits, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.

Are there emergency loans with no credit checks?

While many personal loans require a credit check as part of the application process, some personal loans and payday loans have no credit checks, which may appeal to some borrowers with a bad credit score.

Keep in mind that even if a loan is available with no credit check, the lender will likely want to confirm that you can afford the repayments on your current income.

Where can I get a personal loan?

The Australian personal loans market contains dozens of lenders offering several hundred different products. Personal loans are available through a range of institutions, including:

There are three main ways to access personal loans. You can go through a comparison website, such as RateCity. You can use a finance broker. Or you can directly contact the lender.

Do $4000 loans have no credit checks?

Many medium amount loans for $4000 have no credit checks and are instead assessed based on your current ability to repay the loan, rather than by looking at your credit history. While these loans can appear attractive to bad credit borrowers, it’s important to remember that they often have high fees and can be costlier than other options.

Personal loans for $4000 are more likely to have longer loan terms and will require a credit check as part of the application process. Bad credit borrowers may see their $4000 loan applications declined or have to pay higher interest rates than good credit borrowers.

Does refinancing a personal loan hurt your credit score?

Personal loan refinancing means taking out a new loan with more desirable terms in order to access a more competitive interest rate, longer loan term, better features, or even to consolidate debts.

In some situations, refinancing a personal loan can improve your credit score, while in others, it may have a negative impact. If you refinance multiple loans by consolidating these into one loan, it could improve your credit score as you’ll have only one outstanding debt liability. Your credit may also improve if you consistently pay the instalments on time.

However, applying to refinance with multiple lenders could negatively affect your credit if your applications are rejected. Also, if you delay or default the repayment, your credit score reduces.

What are the pros and cons of bad credit personal loans?

In some instances, bad credit personal loans can help people with bad credit history to consolidate their debts, which can help make it easier for them to clear those debts. This is because the borrower might be able to consolidate several debts with higher interest rates (such as credit card loans) into one single debt with a lower interest rate and potentially fewer fees.

However, this strategy can backfire if the borrower spends the loaned funds instead of using it to repay the new loan. Another disadvantage of bad credit personal loans is that they have higher interest rates than regular personal loans.

Can I get guaranteed approval for a bad credit personal loan?

Few, if any, lenders would be willing to give guaranteed approval for a bad credit personal loan. Borrowers with bad credit histories can have more complicated financial circumstances than other borrowers, so lenders will want time to study your application. 

It’s all about risk. When someone applies for a personal loan, the lender evaluates how likely that borrower would be to repay the money. Lenders are more willing to give personal loans to borrowers with good credit than bad credit because there’s a higher likelihood that the personal loan will be repaid. 

So a borrower with good credit is more likely to have a loan approved and to be approved faster, while a borrower with bad credit is less likely to have a loan approved and, if they are approved, may be approved slower.

What is a personal loan?

A personal loan sits somewhere between a home loan and a credit card loan. Unlike with a credit card, you need to sign a formal contract to access a personal loan. However, the process is easier and faster than taking out a mortgage.

Loan sizes typically range from several hundred dollars to tens of thousands of dollars, while loan terms usually run from one to five years. Personal loans are generally used to consolidate debts, pay emergency bills or fund one-off expenses like holidays.

What do credit scores have to do with personal loan interest rates?

There is a strong link between credit scores and personal loan interest rates because many lenders use credit scores to help decide what interest rates to offer to potential borrowers.

If you have a higher credit score, lenders will probably classify you as a lower-risk borrower. That means they’ll be keen to win your business, so they may offer you a lower interest rate if you apply for a personal loan.

If you have a lower credit score, lenders will probably classify you as a higher-risk borrower. That means they might be concerned about you defaulting on the loan and costing them money. As a result, they might protect themselves by charging you a higher interest rate.

What is an unsecured bad credit personal loan?

A bad credit personal loan is ‘unsecured’ when the borrower doesn’t offer up an asset, such as a car or jewellery, as collateral or security. Lenders generally charge higher interest rates on unsecured loans than secured loans.

Can I include my spouse’s income on a personal loan?

If you apply for a joint personal loan with your spouse, you can include their income on the application. If approved, they then become jointly liable for the loan.

Both you and your spouse need to meet the eligibility criteria, such as income, age, and residency requirements, as stipulated by the lender. A joint loan could increase your chance of approval for a higher amount, as both borrowers’ incomes are assessed when determining borrowing capacity. 

Is a personal loan a variable or fixed-rate loan?

Depending on the personal loan lender, you may be able to choose between a fixed and a variable interest rate. But, there are a few distinct differences between the two, so it’s important to weigh up the pros and cons before deciding on what’s right for you.

A fixed interest rate loan gets you the convenience of knowing exactly how much you need to repay each fortnight or month. On the other hand, you generally won’t be able to make lump sum or advanced payments to close your personal loan early - or at least not without a penalty.

With a variable interest rate personal loan, you may be able to get a longer loan repayment term, with the option of paying off the loan early. You typically won’t need to pay any additional charges for an early full repayment either. The potential disadvantage with an interest rate that can change is that your repayment is not entirely predictable, as it can fluctuate with the market. However, you’ll likely have more options as more lenders offer a variable interest rate personal loan.

Can I merge my personal loan with my home loan?

Yes, you can refinance your home loan and, in the process, merge or consolidate your personal loan and home loan. By doing so, you can lower the number of debts you have, and you may also reduce the total interest you have to pay.

However, you should consult a financial advisor or a mortgage broker to confirm that you are decreasing your total outstanding debt, including interest payments. The repayment term for a home loan can be much longer than that for a personal loan, and by merging the two, you could be repaying a higher amount over the full term.

How long does it take to get a $5000 loan?

Depending on the lender, personal loans and medium-amount loans for $5000 can sometimes be approved in under an hour, and give you access to the money the same day. Other loans may take 24 hours or longer to assess your application, and you may not get the money for a few days.