Personal Loans
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Make your plans a reality
Whether you’re buying a new car or motorbike, making home improvements, planning a wedding or taking a well deserved holiday, a Hume personal loan can help your plans become a reality.
With personal loans starting from $2,000, Hume offers you real flexibility and convenience.
Features
| No monthly fees |
| No early repayment penalties |
| Flexible repayments to help you pay your loan off faster (weekly/fortnightly/monthly) |
| Fixed interest rate |
| Flexible loan terms from 1-7 years |
| Secured or unsecured |
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| Loan Features |
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Advantages |
| Monthly fee |
$0 |
No monthly fees – that’s more money for you to pay off your loan sooner |
| Application fee |
$125 |
A minimal fee to get you started |
| Early termination fee |
$0 |
You won’t be penalised for paying your loan off early |
| Interest rate |
Fixed. Calculated daily and charged monthly. |
Set repayments to help with your budgeting and protect you against rising interest rates |
| Loan amount |
From $2,000 |
A flexible loan amount |
| Loan term |
Up to 7 years |
Choose a loan term that suits your needs |
| Repayments |
Weekly, fortnightly or monthly |
Match your repayment to your needs |
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Secured by a new vehicle
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Interest Rate p.a.
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Comparison Rate p.a. *
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| Loan term up to 5 years |
10.75% |
10.93% |
| Loan term up to 6-7 years |
12.75% |
12.94% |
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Secured by term deposit
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Interest Rate p.a.
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Comparison Rate p.a. *
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| Loan term up to 5 years |
10.75% |
10.93% |
| Loan term up to 6-10 years |
12.75% |
12.94% |
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Personal loan to existing home loan borrower
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Interest Rate p.a.
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Comparison Rate p.a. *
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| Personal loan to existing home loan borrower |
10.75% |
10.93% |
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Secured by a vehicle up to 5 years old
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Interest Rate p.a.
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Comparison Rate p.a. *
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| Secured by vehicle up to 5 years old |
12.75% |
12.94% |
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Unsecured
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Interest Rate p.a.
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Comparison Rate p.a. *
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| Unsecured loan |
13.95% |
14.14% |
Rate correct as at 16 November 2011 and subject to change without notice. * Interest rates based on secured loan of $30,000 over 5 years with monthly repayments WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. |
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- 2 current payslips (or letter from employer stating commencement date of employment and net weekly wage)
- Current group certificate/PAYG payment summary
- Self-employed - the last 2 years’ financial statements and income tax returns
- If consolidating credit cards debts, please provide the last three months statement for each card
- If consolidating personal loan debts, please provide a statement showing the past six months transactions and balances
- Current statement of any other debts
- Evidence of deposits or savings with other institutions
- Existing personal loans - last 6 months’ statements
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You can apply for a Hume personal Loan by completing the online application form.
Once you have completed the online application form a Hume Lending Consultant will contact you within three business days to organise for you to scan or fax us any supporting documentation that may be required.
If your application is approved a Hume Lending Consultant will make an appointment for you to come in and sign the loan contracts.
If your application is unsuccessful you will be notified by email.
For all online application queries please call 02 6051 3233. |
One simple way to get ahead is to pay your loan fortnightly or weekly instead of monthly. This means you will make the equivalent of 13 monthly payments a year instead of 12.
You can also make additional repayments at any time with no penalty. |
Before you take out a loan make sure you know the answer to these questions:
- Is there an application fee – and how much is it?
- Are there any other set up fees?
- Will I be penalised if I pay out the loan early?
- Are there any ongoing fees, such as monthly account keeping fees on the loan?
- Is the rate fixed or variable?
- How does the interest rate compare with other institutions?
- Can I make additional repayments without penalty?
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Ideally you should have you loan pre-approved before you buy a car. That way you know how much you can afford to spend. When you find the vehicle you want, simply provide the consultant with the vehicle details (the Bill of Sale or a copy of vehicle registration papers) and then the loan contract can be prepared.
Loan pre-approvals are valid for 3 months. Once they have expired, Hume will need to review your application to ensure you still meet the lending criteria.
If you see the car that you want and you haven’t got finance in order that’s okay too – however do not sign the Bill of Sale until you have organised your finance. |
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Secured personal loans generally have lower interest rates and require you to use assets to secure the loan.
This means that if for some reason you can’t make the repayments on your loan, you may have to give up the asset (e.g. car) to help cover the outstanding balance on the loan.
For example - If you are purchasing a car, or if you have an existing car you can use it as security against the loan. You may also be able to use motorbikes, boats, caravans or money held in a Hume term investment as security for your loan.
Unsecured loans don’t require assets as security however they usually have higher interest rates and stricter requirements in order to qualify.
Existing Hume home loan members get special unsecured rates. Please talk to your Hume Lending Consultant for further information.
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To apply for a Hume personal loan you must be 18 years of age or older and a permanent resident/citizen of Australia.
You might also want to consider a Hume credit card as an option to financing your needs. When choosing either a personal loan or a credit card, consideration needs to be given to the amount of credit you require as well as the features of both types of products, including the interest rates, fees and charges and the purpose for which credit is sought.
Terms, conditions, fees, charges and lending criteria apply.
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