Enjoy a low rate personal loan that is 100% made for you
6.89%
Variable
8.89%*
Unsecured Personal Loan (Excellent Credit Rating) (3 Years Term)
Endeavour Mutual Bank has delivered financial services for customers in Australia since its beginnings as a credit union in 1953.
Customers can visit one of Endeavour Mutual Bank’s 11 branches, all located within New South Wales.
In addition to personal loans, Endeavour Mutual Bank customers have access to credit cards, bank accounts, savings accounts, home loans, insurance and financial planning.
Total interest paid
$8,245
Total amount to pay
$38,245
Product | Advertised Rate | Comparison Rate* | Repayment | Upfront Fee | Features | Go to site | |
|---|---|---|---|---|---|---|---|
4.45% Variable | 4.65% | $559 monthly over 5 years | $150 | Redraw facility Extra repayments Fully drawn advance Secured | More details | ||
7.99% Variable | 8.20% | $608 monthly over 5 years | $150 | Redraw facility Extra repayments Fully drawn advance Secured | More details | ||
10.99% Variable | 11.06% | $652 monthly over 5 years | $50 | Redraw facility Extra repayments Fully drawn advance Secured | More details | ||
11.99% Variable | 12.21% | $667 monthly over 5 years | $150 | Redraw facility Extra repayments Fully drawn advance Secured | More details |
There is a variety of Endeavour Mutual Bank personal loans with variable interest rates to choose from. A secured loan that is linked to an Endeavour term deposit as collateral is available. All other loans are unsecured.
Endeavour Mutual Bank loan rates range from very low to moderately low depending on the loan.
There is an upfront fee that is on par with what you would pay for a similar loan from a major bank. Additionally, there are no ongoing fees to pay for the duration of the loan.
Loans of up to $50,000 are available, with loan terms of as long as 10 years.
With only 11 branches to visit, and all within New South Wales, Endeavour serves as an online bank for most of Australia.
Members of Endeavour Mutual Bank can also get customer service online or over the phone.
Endeavour Mutual Bank has the following eligibility criteria for personal loans:
An Endeavour Mutual Bank personal loan can be applied for in a few ways:
Endeavour Mutual Bank has a limited range of personal loan options for its member to choose from. Secured and unsecured loans are available with variable interest rates. Borrowers who want a fixed interest rate will need to look elsewhere.
Personal loan interest rates from Endeavour Mutual Bank range from very low to moderately low. This could be helpful for borrowers looking to save money on their loans.
No ongoing fees could also save borrowers money during their loan term.
Loan terms of as long as 10 years are available, which might be useful for members who need extra time paying back their loan.
Borrowers who want the option to redraw money they have paid off the loan might want to look elsewhere as there is no redraw facility available with Endeavour Mutual Bank personal loans.
If you’re having trouble being approved for a loan of less than $2000, and urgently need to purchase household essentials, there may be emergency loan options available to you.
For example, the No Interest Loans Scheme (NILS) allows low-income borrowers to take out interest-free loans of up to $1500 for essential goods and services.
For further assistance, consider contacting a financial counsellor, or calling the National Debt Helpline on 1300 007 007
It can be hard to improve your credit score, as it usually requires sacrifice and discipline, but hard doesn’t necessarily mean complicated. There are nine steps you can take to improve your credit score, most of which are simple to follow.
As a general rule, the lower your credit score, the more remedies you can apply and the greater the scope for improvement.
Even if a lender has no credit checks, they will usually still need to confirm you can afford to repay a fast loan on your income before they’ll approve your application.
If 50% or more of your income comes from Centrelink payments, you may find it more difficult to have a fast loan application approved. Consider checking with the lender before applying to confirm if they lend to people on Centrelink.
Some lenders offer fast loans to borrowers with bad credit. Providers of small payday loans of up to $2000 or medium amount loans of up to $5000 may have no credit checks, though these lenders will usually want to confirm you can afford their loans on your income.
Comprehensive credit reporting may change your credit score – either positively or negatively.
Under comprehensive credit reporting, credit providers will share more information about how you and other Australians manage credit products. That means credit reporting bureaus will be able to make a more thorough assessment of everyone’s credit behaviour. For some consumers, that will lead to higher scores; for others, lower scores.
Many borrowers use quick loans to cover short-term costs, such as paying for car repairs, medical bills, or replacing broken appliances or electronics.
Before applying for a quick loan, consider whether other options are available, such as working out a payment plan or applying for an advance or extension.
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.
When many lenders assess a borrower’s income to determine whether they can afford a loan’s repayments without ending up in financial stress, they may not count Centrelink payments as income for this purpose.
Before applying for an emergency loan, it may be worth contacting a potential lender to find out if they accept applications from borrowers on Centrelink.
If more than half of your income comes from Centrelink benefits, it may be more difficult to have a $2000 loan application approved. Many lenders will check if you can afford a loan’s repayments on the income from your job before they’ll approve an application, and many won’t count Centrelink payments when assessing your income for this purpose.
Some lenders will offer $2000 loans to borrowers on Centrelink – consider contacting potential lenders to check before applying.
The No Interest Loans Scheme (NILS) allows low income borrowers to take out no-interest loans for up to $1500 to purchase essential goods and services.
There are also similar low-interest loan schemes available to borrowers in financial hardship who are having a tough time getting finance approved.