Newcastle Permanent Personal Loans

Newcastle Permanent provides personal loans as well as home loans, everyday banking, investments, insurance, credit cards and advisory.

Compare Newcastle Permanent personal loans and ratesNewcastle Permanent

The table below displays a snapshot of Newcastle Permanent’s secured and unsecured personal loan products and rates on Canstar’s database. Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a three-year loan in NSW.

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What personal loans does Newcastle Permanent offer?

Newcastle Permanent currently offers a single personal loan at the time of writing. The personal loan can be both secured and unsecured, and has a fixed interest rate. The base interest rates are:

  • Secured loan: 6.69% p.a. with a comparison rate of 8.41% p.a.
  • Partially secured/unsecured loan: 8.99% p.a. with a comparison rate of 10.73% p.a.

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What can you use Newcastle Permanent’s personal loans for?

A personal loan with Newcastle Permanent can be used for many important life events, such as:

  • Buying a car
  • Debt consolidation
  • Holidays
  • Home renovations
  • Weddings
  • Unexpected expenses

Personal loans are a relatively straightforward way of borrowing money with a structured repayment program. A personal loan with Newcastle Permanent could give you access to more money to pay for these major life events.

Check the product disclosure statement (PDS) from Newcastle Permanent to see what you can and can’t take out a personal loan for.

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Newcastle Permanent FAQs

Newcastle Permanent offers loan terms of between 1 and 7 years. The repayments on these loans can be made monthly, fortnightly or weekly at no cost, although they must be principle and interest – no interest-free option is available.

There are a number of fees to be aware of when taking out a personal loan with Newcastle Permanent:

  • Loan application fee: $250
  • Account-keeping fees: Nil

See this article for look at the average fees currently charged by personal loan providers on the market (based on Canstar’s Personal Loans Star Ratings for November 2017) to see if Newcastle Permanent’s fees are more or less what the average customer is paying.

Yes, Newcastle Permanent personal loans require minimum monthly repayments, but the exact amount varies depending on your principal amount, loan term and level of security. Additional repayments can be made at any time at no extra cost, and as mentioned you can choose to make payments weekly, fortnightly, or monthly.

Applying for a Newcastle Permanent personal loan is straightforward; you can do it online after visiting Canstar’s comparison tables. When applying for a personal loan with Newcastle Permanent (or most providers in Australia for that matter), you generally need to meet the following criteria:

  • You must be 18 years or old
  • You must live in Australia
  • You must be an Australian permanent resident or New Zealand passport holder residing in Australia
  • Hold a regular income and good credit rating (see here for more info on how to get a good credit rating)
  • Show an ability to afford your loan repayments
  • Utilise the loan only for personal expenses, and not for business or property investment purposes

If done online, the application process can take as little as 10 minutes, provided you have everything on hand. You may need to provide documents and ID such as:

  • A current driver’s license
  • Details of your current and previous (if applicable) employer
  • Details of your income, assets, expenses and liabilities
  • Previous tax returns if you are self-employed

You may also require your current account number for Newcastle Permanent if you’re an existing member.

In addition to personal loans, Newcastle Permanent also offers a secured car loan. The table below displays a snapshot of Newcastle Permanent’s car loan products, sorted by Star Rating (highest to lowest). The results shown are based on a 5-year loan for $20,000 in NSW.

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Newcastle Permanent is a Newcastle-based building society, which is wholly member-owned and reinvests its profits back into products and the community. The company employs nearly 1,000 staff and serves around 325,000 customers across Australia, making it the nation’s second-largest customer-owned bank. Newcastle Permanent is a keen sponsor of many community events, including Surf Life Saving, Northern NSW Football, primary school mathematics competitions and ANZAC commemorative services.

Personal Loan Unsecured

Canstar Research
Rating:
Award: Outstanding Value Personal Loans

$20,000

New South Wales

2017 Star Ratings Report

Written by: William Jolly | Last updated: