Coles Personal Loan

Main points to consider with the Coles Personal Loan

You can apply for a credit limit between $2,000 and $50,000. Unlike a standard personal loan, the Coles Personal Loan is more like a line of credit. After being approved, you will be issued a Coles Personal Loan Debit Mastercard, giving you access to the full amount of your loan. You can withdraw the loan amount as cash or access it by using your Debit Mastercard to shop. Loan terms range between 3 to 5 years, and you will need to make monthly repayments by direct debit. The loan is subject to a variable interest rate which will be personalised based on the information you provide in your application.

Features of the Coles Personal Loan

When you take out a Coles Personal Loan, you can expect the following features:

• Flybuys exclusive. All Flybuys members pay interest rates from 10.90% p.a. while non-Flybuys members interest rates start from 12.99% p.a. Flybuys is free to join and you can do it online at experience.flybuys.com.au
• Flexible loan amount. Apply for any amount between $2,000 and $50,000. The maximum amount you can apply for will be calculated during the application process.
• Short loan term. The Coles Personal Loan features your choice of loan term between 3 to 5 years.
• Unsecured finance. As an unsecured personal loan, you will not need to put up any of your assets as collateral for the loan.
• Free redraws. More like a line of credit than a traditional personal loan, the Coles Personal Loan allows you to redraw for free any amount you have already repaid without having to reapply.
• Debit Mastercard. When your loan application is approved, you will be issued a Coles Personal Loan Debit Mastercard to access your loan funds in cash or by making purchases with your card.
• Variable interest rate. The Coles Personal Loan features a variable interest rate starting from 12.99% p.a. for non-Flybuys members and 10.90% p.a. for Flybuys members. The interest rate you receive will be based on the information you provide in your application.
• Free rate estimate. The online application process will give you an initial estimate of your personal interest rate without running any credit checks.
• Fixed repayment amount. You will need to make monthly repayments by direct debit from your nominated bank account.
• No exit or extra repayment fees. You are able to pay extra off your loan or pay it off early if it suits without incurring extra fees.
• Bonus points. Enjoy earning bonus Flybuys points by shopping at Coles. You will earn one additional point per $1 spent at Coles using your Coles Personal Loan Debit Mastercard, up to a maximum of 1,000 points per month.

Coles Personal Loan rates

Fees

• Application fee. $199
• Late payment fee. $30
• Exit or early repayment fee. No fees

How to apply for the Coles Personal Loan

Before you apply for the Coles Personal Loan, make sure you fit the eligibility requirements and have all the required documents to hand. This will speed up the application process and get you on your way to finance approval.

Eligibility requirements for the Coles Personal Loan:

• Permanent Australian resident
• Aged 18 or older
• Annual income of at least $35,000

Documents required for a Coles Personal Loan:

• Australian driver's license
• Proof of income, either by payslips, bank statements or tax return depending on your employment circumstances

Ready to apply? First, take the time to compare your personal loan options to ensure you choose the personal loan that's right for you. If you choose a Coles Personal Loan, click "Go to Site" on this page to start the online application process.

Compare other personal loans

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Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
NOW Finance No Fee Unsecured Personal Loan Finder award winnerFixed18 Months - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 6.75% to 26.95%	Comp. Rate (p.a.) 6.75% to 26.95%	Application Fee $0	Monthly Fee $0	Monthly Repayment $922.89	Go to siteMore Info Compare
OurMoneyMarket Unsecured Low-Rate Personal Loan ($5,000-$75,000) Finder award winnerFixed1 - 7 Years $5,000 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee 1.50% - 6% min. $250	Monthly Fee $0	Monthly Repayment $934.23	Go to siteMore Info Compare
Harmoney Unsecured Personal Loan Finder award winnerFixed3 - 7 Years $2,000 - $70,000	Interest Rate (p.a.) 5.76% to 24.03%	Comp. Rate (p.a.) 6.55% to 24.98%	Application Fee $275 - $575	Monthly Fee $0	Monthly Repayment $926.83	Go to siteMore Info Compare
Latitude Variable Rate Personal Loan Variable2 - 7 Years $5,000 - $70,000	Interest Rate (p.a.) 9.49% to 29.99%	Comp. Rate (p.a.) 10.37% to 30.69%	Application Fee $0	Monthly Fee $13	Monthly Repayment $973.85	Go to siteMore Info Compare	Special Finder offer: $395 establishment fee waived for approved personal loan applications submitted through Finder. Latitude may withdraw offer at any time. T&Cs apply.
NAB Personal Loan Unsecured Fixed Fixed1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 8.49% to 20.49%	Comp. Rate (p.a.) 9.88% to 21.78%	Application Fee $250	Monthly Fee $15	Monthly Repayment $969.78	Go to siteMore Info Compare
NAB Personal Loan Unsecured Variable Rate Variable1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 8.49% to 20.49%	Comp. Rate (p.a.) 9.88% to 21.78%	Application Fee $250	Monthly Fee $15	Monthly Repayment $969.78	Go to siteMore Info Compare

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