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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Pros and cons
- No early exit penalty
- Can apply online
- Can apply in branch
- Application fee charged
- Monthly fee charged
- No redraw facility
Hunter United personal loans rates
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based on $30,000 loan amount for 5 years
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based on $30,000 loan amount for 5 years
Fully drawn advance
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.
Learn more about Hunter United
Can you refinance a $5000 personal loan?
Much like home loans, many personal loans can be refinanced. This is where you replace your current personal loan with another personal loan, often from another lender and at a lower interest rate. Switching personal loans may let you enjoy more affordable repayments, or useful features and benefits.
If you have a $5000 personal loan as well as other debts, you may be able to use a debt consolidations personal loan to combine these debts into one, potentially saving you money and simplifying your repayments.
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.
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.
Should I get a fixed or variable personal loan?
Fixed personal loans keep your interest rate the same for the full loan term, while interest rates on variable personal loans may be raised or lowered during your loan term.
A fixed rate personal loan keeps your repayments consistent, which can help keep your budgeting consistent. You won't have to worry about higher repayments if your rates were to rise. However, on a fixed loan you’ll also potentially miss out on more affordable repayments if variable rates were to fall.
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.
Can unemployed single parents get personal loans?
It can be more difficult for unemployed borrowers to successfully apply for a personal loan. Most lenders require borrowers to have a regular income available to cover the cost of loan repayments.
If you’re self-employed, or if less than half of your income comes from Centrelink, you may not be eligible for some personal loan options. Consider contacting the lender before applying.
What is the average interest rate on personal loans for single parents?
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.
How long does it take to get a student personal loan?
Completing an online personal loan application can often take anywhere from 10 minutes to 1 hour. Depending on your lender, processing your personal loan application may take anywhere between 1 and 24 hours. If your personal loan application is approved, you may receive the money in your bank account the following business day, or, in some cases, the same day.
What do single parents need for a personal loan application?
Much like applying for other personal loans, applying for personal loans for single parents will likely require the following:
- Proof of identity
- Proof of residence
- Proof of income
- Details of assets (e.g. car, home)
- Details of liabilities (e.g. credit cards, other loans)
- Loan amount
- Loan term
Can single mothers get personal loans online?
Many lenders offer online applications for personal loans, which can be convenient for borrowers who have busy lives. If you’re not confident your personal loan application will be approved, you may want to consider contacting the lender by email, live chat, phone, or by visiting a branch, to discuss your situation before applying.
Are there low doc personal loans?
Self-employed borrowers may be eligible for low doc personal loans, which require less documentation in their application process than many other personal loan options.
It’s important to remember that though low doc personal loans may require less paperwork, you may need to provide additional security, or pay a higher interest rate.
Do student personal loans require security?
While some personal loans can be secured by the value of an asset, such as a car or equity in a property, student personal loans are often unsecured, which typically have higher interest rates.
Some lenders also offer guarantor personal loans to students. These loans have lower interest rates, as a guarantor (usually a relative of the borrower with good credit) will fully or partially guarantee the loan, taking on the financial responsibility if the borrower defaults.
Can I repay a $3000 personal loan early?
If you receive a financial windfall (e.g. tax refund, inheritance, bonus), using some of this money to make extra repayments onto your personal loan or medium amount loan could help reduce the total interest you’re charged on your loan, or help clear your debt ahead of schedule.
Check your loan’s terms and conditions before paying extra onto your loan, as some lenders charge fees for making extra repayments, or early exit fees for clearing your debt ahead of the agreed term.
How can I get a $3000 loan approved?
Responsible lenders don’t have guaranteed approval for personal loans and medium amount loans, as the lender will want to check that you can afford the loan repayments on your current income without ending up in financial hardship.
Having a good credit score can increase the likelihood of your personal loan application being approved. Bad credit borrowers who opt for a medium amount loan with no credit checks may need to prove they can afford the repayments on their current income. Centrelink payments may not count, so you should check with the lender prior to making an application.
Can I get a $4000 personal loan if I’m unemployed or on Centrelink?
Before most providers of personal loans or medium amount loans will approve an application, they’ll want to know you can afford the loan’s repayments on your current income without ending up in financial stress. Several lenders don’t count Centrelink benefits when assessing a borrower’s income for this purpose, so these borrowers may find it more difficult to be approved for a loan.
If you’re unemployed, self-employed, or if more than 50% of your income come from Centrelink, consider contacting a potential lender before applying to find out whether they accept borrowers on Centrelink.