What is a Personal Line of Credit?
A Personal Line of Credit is like a personal loan with two major benefits. Firstly, because it is a line of credit you only pay interest on what you use. Better still, because there are no early repayment charges, you control how and when you repay your loan. The interest rate is variable from 15.9% p.a.
Features and benefits
- Pay interest on the credit you use and no more
- Borrow from $10,000 to $25,000
- Variable interest rate from 15.9% p.a.
- No fee for overpayments
- No annual fee
- No monthly fee
- Save money – use your line of credit to pay off debt held elsewhere at a higher rate
- Online account access helps you keep track of your spending
- Flexible repayments – weekly, monthly, fortnightly and additional by Direct Debit and BPAY
What does it cost?
- Variable interest rate from 15.9% p.a.