Coles Personal Loans
What personal loans does Coles offer?
At the time of writing, Coles offers one personal loan product. This is an unsecured variable interest rate loan. Coles offers two variable rates on the loan: one for flybuys members and one for non-flybuys members.
Features of Coles personal loan include:
- Loan amount between $5,000 and $50,000 (the amount offered will be based on Coles credit assessment and may be lower than requested)
- No exit fees for early repayment
- Equal monthly repayments, which Coles says can help borrowers plan their budget
- Establishment fee of $199
- Monthly fee of $10
- Loan term can be three, four or five years
- Reusable line of credit (allowing borrowers to spend loan funds they have already paid back – similar to a redraw facility) using a Coles Personal Loan Debit Mastercard
Canstar does not currently compare Coles personal loans, but you can compare other personal loan providers on Canstar’s database:
What can you use Coles’ personal loans for?
Personal loans can typically be used for important life events, such as:
- Buying a car
- Debt consolidation
- Holidays
- Home renovations
- Weddings and more
Read the product disclosure statement (PDS) from Coles for any specific details on what you may or may not be able to take out a personal loan for.
Coles personal loans FAQs
Compare personal loans on Canstar’s database
If you’re looking to compare your options, check out the table below which includes a snapshot of the unsecured personal loans on Canstar’s database for an amount of $20,000 repaid over three years in NSW with links direct to providers’ website. The products shown are sorted by Star Rating (highest to lowest) and then by comparison rate (highest to lowest). Before committing to a particular personal loan product, check upfront with your lender and read the applicable loan documentation to confirm whether the terms of the loan meet your needs and repayment capacity. Read the Comparison Rate Warning.