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Newcastle Permanent Personal Loans

Newcastle Permanent is one of the largest mutual building societies in Australia. They offer a range of financial products for individuals and businesses, including personal loans. To see if you can afford a Newcastle Permanent personal loan, you should use a personal loan calculator.

Newcastle Permanent personal loan repayment calculator

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

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About Newcastle Permanent

Newcastle Permanent is one of the largest mutual building societies in Australia. They offer a range of financial products for individuals and businesses, including personal loans. To see if you can afford a Newcastle Permanent personal loan you should use a personal loan calculator. Newcastle Permanent offers both secured and unsecured personal loans at fixed rates. These loans can be used for any purpose including renovations, purchasing shares and holidays.

Newcastle Permanent’s personal loans have a minimum amount of $1000 and do not charge a penalty for early repayment. The lender has a number of branches in areas of New South Wales, excluding Sydney. Customers who do not live near a branch can contact the lender by phone and online seven days a week. It is not possible, however, to apply for a Newcastle Permanent loan online.

Features of a Newcastle Permanent personal loan

Newcastle Permanent personal loans have a fixed rate and can either be secured to an asset, like a vehicle or property, or unsecured.

A Newcastle Permanent personal loan offers many desirable features for borrowers including flexible repayments and no penalties for paying out the loan early. The flexible repayment schedule means that you can make weekly, fortnightly or monthly repayments. This feature is useful as the more frequently you make repayments, the less interest you will end up paying in the long run.

Being able to pay out the loan early with no penalty is also a plus. It means you can make extra repayments along the way and if you can afford to pay off the loan early you can save on the total amount of interest you would otherwise have to pay. There is no redraw facility attached to these loans so any extra repayments cannot be re-accessed once paid into the loan.

What RateCity says

Newcastle Permanent personal loans have below average interest rates although the comparison rates reflect the large application fee that is charged. That said, there are no ongoing fees and no penalties for paying out the loan early; a fee which can range up to $300 on other loans. There is a small penalty for missed payments.

This loan cannot be used for business purposes and is instead suited to borrowers looking to borrow money for renovation, debt consolidation, shares or other personal matters. There is no redraw facility attached to this loan so borrowers should keep this in mind if they are planning on making extra repayments.

The Newcastle Permanent personal loans cannot be applied for online which may be an inconvenience to some borrowers. Instead, you can fill out an online form to send an enquiry and the lender will then get in touch. 

Features of a Newcastle Permanent personal loan

Newcastle Permanent personal loans have a fixed rate and can either be secured to an asset, like a vehicle or property, or unsecured. Borrowers can take out a Newcastle Permanent personal loan for periods between one and seven years.

A Newcastle Permanent personal loan offers a range of attractive features, including flexible repayments and no penalties for paying out the loan early. The flexible repayment schedule means that you can make weekly, fortnightly or monthly repayments. This feature is useful as the more frequently you make repayments, the less interest you’ll end up paying in the long run.

Being able to pay out the loan early without penalty is also a plus. It means you can make extra repayments along the way, and if you can afford to pay off the loan early, you can save on the total amount of interest you would otherwise have to pay. There’s no redraw facility attached to these loans, so any extra repayments cannot be re-accessed once paid into the loan.

Newcastle Permanent personal loans can be used for a range of different purposes including:

  • New and used cars
  • Motorcycles
  • Boats
  • Student loans
  • Debt consolidation
  • Renovations
  • Shares
  • Holidays
  • Medical bills
  • Weddings and events

Newcastle Permanent personal loans – customer service

Customers looking to contact Newcastle Permanent customer service can call the bank, send an online enquiry form or pop into a branch in NSW. Borrowers can also contact customer service via:

  • Online enquiry
  • Email
  • Phone, Mon-Fri 8am-8pm and Sat-Sun 8am-4pm (AEST)
  • Branch

Who is eligible for a Newcastle Permanent personal loan?

To be eligible for a Newcastle Permanent personal loan, you’ll need to meet the following criteria:

  • Be at least 18 years old  
  • Be an Australian citizen, permanent resident or have a valid visa
  • Have a regular income

How to apply for a Newcastle Permanent personal loan?

To apply for a Newcastle Permanent personal, borrowers can enquire online or in branch if you’re in the Hunter area of NSW. The application process is simple and involves the following steps:

  • Once you’ve compared and selected a personal loan, make an enquiry through the Newcastle Permanent website
  • Once you’ve submitted your application, Newcastle Permanent will review your application and reply within two to five business days
  • If your application is approved, a Newcastle Permanent personal loan representative will take you through the next steps
  • Upon final approval, you can accept your contract online and the funds will be credited to your loan account

At the time of application, you’ll need to provide the following documentation:

  • Proof of identity
  • Proof of income and employment including payslips
  • Details of any other financial commitments

Newcastle Permanent personal loans review

Whether it’s a holiday, car, wedding or renovation, Newcastle Permanent personal loans can be used for a variety of purposes which make them appealing to a wide range of borrowers. Borrowers can choose between weekly, fortnightly or monthly repayments.

Borrowers looking for a personal loan can choose a secured, partially secured or an unsecured loan though Newcastle Permanent. Borrowers looking for certainty in their repayment amounts will benefit from the fixed interest rates offered across all Newcastle Permanent personal loans.

When it comes to interest rates, the rate for a secured personal loan is moderately low, while the rate for the partially secured and unsecured personal loan is moderate. While there are no ongoing account-keeping fees, no early repayment penalties and no restrictions on additional repayments, there’s a higher-than-average upfront establishment fee, missed payment fee and a substitution of security fee.

FAQs

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.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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