Personal loan for debt consolidation
Why choose a BCU Bank debt consolidation loan?
Pay it off sooner
Make extra repayments and pay off your loan early without being charged a fee.
Free redraw
So you can access your funds if you’re ahead on your repayments.
Flexible options
Terms from one to five years, with weekly, fortnightly or monthly repayment options.
No monthly fees
So you can keep a little extra money in your pocket.
Personal loan options for debt consolidation
Secured personal loan
A personal loan with a variable rate, secured against a car up to seven years old, as well as new motorbikes.
Variable rate
Comparison rate*
Unsecured personal loan
An unsecured personal loan with a variable rate and choice of loan term up to five years.
Variable rate
Comparison rate*
How much could your repayments be?
Crunch the numbers, plan ahead, and even find out how much you could you save if you pay extra on your loan.
Personal loan repayment calculator
More calculators
What's the personal loan application process like?
Apply for your loan
Complete your loan application and provide us with your ID and supporting documents.
Assessment and approval
We’ll take a look at your loan application, and will be in touch if we have any questions or need any more info.
Sign your contract
We can send your contract to you electronically, or you can sign it at your local branch.
Your loan is funded!
In other words, you’ve got your money. Don’t forget to set up your repayments online!
How to apply for a debt consolidation loan
Apply in person or over the phone
Talk to one of our lending specialists and apply over the phone by calling our contact centre on 1300 228 228, or pop into your local branch.
Alternatively, you can enquire online and one of the team will be in touch soon!
Make an enquiryA little preparation can make your personal loan application quicker and easier. Make sure you have the following ready:
- Identity documents
- primary photo ID (e.g. passport or driver licence), or
- primary ID without a photo (e.g. birth certificate or citizenship certificate) and a secondary ID (e.g. utility bill with your name and address on it).
- Employment details – contact details of your current and previous employer (if current is less than two years).
- Income details – payslips or, if you're self-employed, tax assessments for the last two years, and financial statements.
- Regular expenses – such as rent, food, electricity, insurance, telcos, and medical costs.
- Assets – a rundown of any assets that you own (any cars, savings accounts, home contents, properties, investments).
- Liabilities – the details of any loans, credit cards, buy now pay later, or other debts you have.
Apply in person or over the phone
Talk to one of our lending specialists and apply over the phone by calling our contact centre on 1300 228 228, or pop into your local branch.
Alternatively, you can enquire online and one of the team will be in touch soon!
Make an enquiryA little preparation can make your personal loan application quicker and easier. Make sure you have the following ready:
- Identity documents
- primary photo ID (e.g. passport or driver licence), or
- primary ID without a photo (e.g. birth certificate or citizenship certificate) and a secondary ID (e.g. utility bill with your name and address on it).
- Employment details – contact details of your current and previous employer (if current is less than two years).
- Income details – payslips or, if you're self-employed, tax assessments for the last two years, and financial statements.
- Regular expenses – such as rent, food, electricity, insurance, telcos, and medical costs.
- Assets – a rundown of any assets that you own (any cars, savings accounts, home contents, properties, investments).
- Liabilities – the details of any loans, credit cards, buy now pay later, or other debts you have.
Because we're here to help
Apply over the phone or in person
Call us on 1300 228 228 or chat to the team at your local branch.
Find your local branch
You’ll find us from Maroochydore to Port Macquarie – drop in and say hi!
Got a question about debt consolidation loans?
A secured personal loan is where your loan is secured by a motor vehicle that is less than seven years old. So, you might use the car you’re buying as security for your car loan, or you might use a car that you already own, to secure a personal loan for a well deserved holiday. Secured personal loans are often offered at a lower interest rate.
On the other hand an unsecured personal loan doesn’t require any security.
If you want to refinance an existing BCU Bank personal loan, or a loan you have with another bank or lender, we’re here to help.
You might be looking to increase your loan, or combine multiple loans into one with a debt consolidation loan.
We offer both secured and unsecured variable rate personal loans for any purpose. And you can use our repayments calculator to get an idea of your repayments.
If you have an existing BCU Bank loan you want to review or increase, or you want to speak to a team member about a new personal loan application, please contact our lending specialists on 1300 228 228 to apply over the phone, or visit your nearest branch.
Credit providers are looking for the following key indicators on your credit report to show that you are a good prospective customer:
- Good payment history – credit providers want to see that you’ve made your payments on time. Don’t worry if you’ve missed the occasional payment by a few days. One of the good things about the credit reporting system is that each payment you do make on time will make you look better to credit providers. If you think you’ve missed (or will miss) more than an occasional payment, it's best to speak to your lender about it.
- Stability – for example, credit providers want to make sure that you haven’t moved house too many times over a short period.
- Not too much credit – this includes credit that you’ve taken out, but also credit that you’ve simply applied for.
- No negative entries – this includes defaults, bankruptcy information and court judgments. These types of things will make it harder for you to get credit (at least until they fall off your credit report in 5-7 years).
Your credit report shows how many times you’ve applied for credit and which loans you've opened. It outlines your history of making repayments, any defaults, and how much debt you currently have. This is very important information as it tells the new credit provider how you’ve treated those debts, which gives an indication about how you’re likely to treat the new debt.
It includes information that is needed to identify you - your name; birth date; and recent addresses; current or last known employer’s name and driver’s licence number (if you have one).
Your credit report helps us determine your suitability for credit (loan) products, like home loans, personal loans or credit cards. When you apply for a home loan, personal loan or credit card with us we will check your credit report. We will also record your application for credit.
You can access your own credit report using the credit reporting bodies outlined on the CreditSmart website.
Important information
Banking and Credit products issued by Police & Nurses Limited (BCU Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms and conditions, fees and charges apply.
Please consider the terms and conditions and whether a product is right for you.
- View terms and conditions
- View fees and charges
- View Credit Guide
- View Target Market Determinations (TMDs)
*Comparison rate calculated on a loan amount of $30,000 over a term of 5 years based on monthly repayments. Rates quoted may vary depending on loan purpose and security offered.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.