Hunter United Personal Loans
Hunter United commenced life in 1963 and has progressively grown into a community-based financial institution serving the Hunter Valley.
They are the largest locally based credit union in the region, with seven branches in Broadmeadow, Charlestown, Glendale, Jesmond, Marketown East, Mayfield and Greenhills (East Maitland).
In addition to personal loans, Hunter United provides savings accounts, loans, credit cards, investment accounts, and retirement and superannuation products.
Hunter United personal loan repayment calculator
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Hunter United personal loans rates
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Green Home Improvement Loan Only
based on $30,000 loan amount for 5 years
Fully drawn advance
Personal Loan Unsecured
based on $30,000 loan amount for 5 years
Fully drawn advance
- No early exit penalty
- Can apply online
- Can apply in branch
- Application fee charged
- Monthly fee charged
- No redraw facility
Features of a Hunter United personal loan
Hunter United offer secured and unsecured personal loans, which can be used for a variety of purposes.
Hunter United also offer a green personal loan, which can be used to fund environmentally friendly products such as solar electricity panels and batteries, solar hot water systems, water tanks, double glazing and insulation. A Hunter United green personal loan can be taken for up to seven years on a variable interest rate, with a loan amount between $2,000 and $30,000.
Hunter United secured and unsecured personal loans have no minimum loan amount and can be taken for up to seven years. Borrowers can loan up to $30,000 on a variable interest rate and have the option to customise repayments to either weekly, fortnightly or monthly.
It’s worth noting that these particular personal loans can’t be used to purchase new cars but can be used for a range of other investments. Hunter United offer a separate car loan product.
All Hunter United personal loans allow borrowers to make unlimited additional repayments and there are no early exit penalties for borrowers who wish to pay out their personal loan before the term.
Hunter United personal loans can be used for a range of different purposes including:
- Medical bills
- Student fees
- Debt consolidation
Hunter United personal loans – customer service
Hunter United customers can contact the bank online and on the phone. There are also branches across Newcastle and the lower Hunter region of New South Wales. Borrowers can also contact customer service via:
- Online enquiry
- In store
Who is eligible for a Hunter United personal loan?
To be eligible for a Hunter United personal loan, you’ll need to meet the following criteria:
- Be 18 years or older
- Be an Australian permanent resident or have an eligible Australian visa
- Have a regular source of income and employment
How to apply for a Hunter United personal loan?
To apply for a Hunter United personal, borrowers can apply online through the Hunter United website or in store. This is the process:
- Once you’ve compared personal loan options, you can apply online through the Hunter United website
- Hunter United will then review your application
- If approved, you can accept the contract online or in a branch
- Once accepted, the funds are paid directly into your loan account
At the time of application, you’ll need to provide the following documentation:
- Proof of identity
- Proof of income and employment
- Details of any other financial commitments
- Details of additional assets
Hunter United personal loans review
In terms of interest rates, Hunter United’s personal loan rates are slightly higher than the market average. In saying that, Hunter United personal loans do offer flexibility by way of flexible repayment options, the option to pay out your personal loan without penalty and the option to make additional lump sum repayments. Borrowers looking to apply for a Hunter United personal loan will have to pay an application fee in addition to an ongoing monthly fee.
All Hunter United personal loans offer borrowers the option to take out loan repayment insurance and some borrowers may be eligible for a rebate reward. Borrowers can select a term of one to seven years when applying for a Hunter United personal loan.
Customers looking for a personal loan to fund a sustainable home improvement project may be interested in Hunter United’s green personal loan product. This green personal loan offers borrowers a discounted variable interest rate when the loan is used to pay for solar electricity panels and batteries, solar hot water systems, water tanks, double glazing and insulation.
Before applying for a Hunter United personal loan, always do your research and compare your personal loan options to make sure you’re getting a loan that suits your budget, needs and lifestyle.
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Many lenders will allow you to make extra repayments onto a quick personal loan when you can afford them, or even exit the loan early, which can help reduce the total interest you are charged. Be sure to check your quick loan’s terms and conditions, as some lenders charge early exit fees for paying off a loan ahead of schedule.
Most lenders will need to you provide the following information in your application for a fast loan:
- Proof of identity
- Proof of residence
- Proof of income
- Details of any assets you own (e.g. car, home etc.)
- Details of any liabilities you owe (other personal loans, credit cards, mortgages etc.)
- How much you want to borrow
- How long you want to pay it back
- Purpose of your loan
The worse your credit history, the harder you will find it to consolidate your debts, because lenders will be less willing to lend you money and will charge you higher interest rates.
However, people with bad credit histories can make debt consolidation work by following this three-step process. First, find a lender willing to give you a bad credit personal loan – this process will be simplified if you go through a mortgage broker or use a comparison website like RateCity. Second, make sure the interest repayments on your new loan are less than the repayments on the loans being replaced. Third, instead of spending those savings, use them to repay the new loan.
It is possible for students with no available history of borrowing or managing money to get a personal loan, though it may be more difficult and/or expensive than for borrowers with a good credit history.
Having no credit history means having no credit score. While many lenders may consider having no credit score to be better than having a bad credit score, they may still consider it riskier to lend to an unknown borrower and may charge higher interest rates or fees than to borrowers with good credit scores.
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 get that approval faster, while a borrower with bad credit is less likely to have a loan approved and to get that approval slower.
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 usually 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.
Like other types of personal loans, the average interest rate for personal loans for single parents changes regularly, as lenders add, remove, and vary their loan offers. The interest rate you’ll receive may depend on a range of different factors, including your loan amount, loan term, security, income, and credit score.
Like other personal loan applicants, single mothers will likely need to provide a few documents to any potential lender, such as personal identification, bank statements (savings, loans, credit cards), proof of address, and proof of income (payslips, tax returns).
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, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.
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.