This report is no longer current. Please refer to the CANSTAR CANNEX website for the most recent star ratings report on this topic.

Transcription

1 This report is no longer current. Please refer to the CANSTAR CANNEX website for the most recent star ratings report on this topic. PERSONAL LOAN STAR RATINGS Report No. 8 December 2008 IN THIS REPORT WE LOOK AT Car sales stall: good news among the bad Petrol prices subsidise car loans Green projects catered for Star ratings rewards superior products CAR SALES STALL: GOOD NEWS AMONG THE BAD If you re planning to buy a new car, your options have now widened. With the car industry feeling the squeeze of the credit crunch you can now buy Porsches at Lada prices! Admittedly this is an exaggeration but with many global car makers hitting the skids in a highly publicised way, the effects of declining sales are now being felt here. Car dealers are staring down the barrel of a 22% drop in vehicle sales, according to the latest figures from the Federal Chamber of Automotive Industry. Drop in car sales November 12 months ,195 43,019 (-20.6%) 585, ,069 (-5.8%) Source: Federal Chambers of Automotive Industry Source: A.B.S. Data YOUR GUIDE TO PRODUCT EXCELLENCE

2 To add to their woes, GE and GMAC, two giants of the car financing industry, have both withdrawn completely and are no longer offering financing to car dealers. This has affected roughly 40% of car dealers. Even though the government has stepped in with an interim scheme that includes the four major banks, there is still uncertainty over the long-term future of car yard financing. The big messages for consumers in all of this are: 1. The current imbalance of car supply and demand means you can drive away with a terrific deal if you re in the market for a new set of wheels, and 2. Arrange your finance before you go car shopping. A pre-approved car loan is likely to be much better than finance you may or may not get at the car yard. PETROL PRICES SUBSIDISE CAR LOAN There s no doubt much belt-tightening is going on at the moment but the rate cuts are giving homeowners some reprieve. Budgets are also looking healthier, thanks to petrol prices which are now at a much more acceptable level than previously. The majority of motorists would now be saving $20 or more per week on fuel alone. This saving could be made to work even harder if it was paid into your car loan. For instance, you would save over $1,395 if you paid an extra $80 in petrol savings per month into a car loan of $25,000 taken over 5 years at 11.63% interest. You would also pay the loan out at 4 years and 3 months. It s a hypothetical that just may work for you and will give you a double shot at making the most of fuel savings. Car Loan $25,000 Loan Period 5 years Interest rate 11.63%* *average car loan rate Normal Repayments Repayments - $ Total Interest Paid - $8, Repayment Period 5 years GREEN PROJECTS CATERED FOR Extra Repayments, $80 per month Repayments - $ Total Interest Paid - $6, Repayment Period 4years & 3 months Total Interest Saved - $1, Total Time Saved 9 months Many people struggle with the delicate balance of economy and environment. Looking at the smaller picture often reveals opportunities to make a difference at an individual level. It is therefore encouraging to see lenders introducing green products to the market to provide choice and better incentives to customers to go green at every opportunity. There are now several lenders offering green car loans for eco-friendly cars such as the Prius Hybrid and the Toyota Yaris. The leaders in the green loans field include Community First Credit Union, Savings & Loans Credit Union, Maleny Credit Union, MECU and Bendigo Bank. As well as eco-friendly cars, green personal loans can also be used for installing solar hot water systems, energy efficient appliances, rainwater tanks, insulation, double glazing or grey water treatment systems. CANSTAR CANNEX applauds the innovation lenders are beginning to show in catering for this growing market sector. We look forward to more lenders tailoring green products to support community sentiment. YOUR GUIDE TO PRODUCT EXCELLENCE 2

3 STAR RATINGS REWARDS SUPERIOR PRODUCTS CANSTAR CANNEX personal loans star ratings report compares 537 personal loan products from 93 institutions. We broke this down into 83 secured personal loans, 117 unsecured personal loans and 337 car loans. Only the top 5% in each category were awarded five stars for superior value. Our star ratings is the perfect start to making up a shopping list of products you are interested in. You may also want to check on how we rate a personal loan you currently have, or your preferred financial institution. To check the methodology we used in our star ratings, see the document at the end of the results report below. COPYRIGHT CANSTAR CANNEX Pty Ltd ABN , The recipient must not reproduce or transmit to third parties the whole or any part of this work, whether attributed to CANSTAR CANNEX or not, unless with prior written permission from CANSTAR CANNEX, which if provided, may be provided on conditions. DISCLAIMER To the extent that any CANSTAR CANNEX data, ratings or commentary constitutes general advice, this advice has been prepared by CANSTAR CANNEX Pty Ltd ABN AFSL and does not take into account your individual investment objectives, financial circumstances or needs. Information provided does not constitute financial, taxation or other professional advice and should not be relied upon as such. CANSTAR CANNEX recommends that, before you make any financial decision, you seek professional advice from a suitably qualified adviser. A Disclosure Statement relating to the product should also be obtained and considered before making any decision about whether to acquire the product. CANSTAR CANNEX acknowledges that past performance is not a reliable indicator of future performance. Please refer to CANSTAR CANNEX s FSG for more information at YOUR GUIDE TO PRODUCT EXCELLENCE 3

4 Car Loans Rate Varies With Deposit Unsecured 100% Loan Available "superior value" Australian Central CU Car Loan Fixed Secured 9.75 to Nil No max 1yr to 7yr Australian Central CU CarLoan Variable Secured 9.75 to Nil No max variable Australian Defence CU New Car Loan 8.74 to Nil No max variable Capricornia CU Equity Car Loan 8.98 Nil variable Community First CU Green Loan 7.74 Nil variable Defence Force CU New Car Loan 9.45 to 9.75 Nil No min variable Heritage Building Soc Cake & Eat It Loan 7.55 Nil variable Holiday Coast CU Personal Loan Fixed Nil No max 1yr to 7yr Holiday Coast CU New Car Loan Fixed 8.69 Nil No max 1yr to 5yr Holiday Coast CU New Car Loan Variable 8.44 Nil No max variable Holiday Coast CU FTD Secured Loan 7.25 Nil No min No max variable Horizon Credit Union Car Loan Sec by Term Dep 9.70 Nil No min No max variable Horizon Credit Union New Car Loan Variable 8.45 Nil No min No max variable Illawarra CU NSW Secured Personal Loan 9.55 Nil yr to 7yr Illawarra CU NSW New Car Loan Sec BOS 8.55 Nil yr to 7yr Illawarra CU NSW Variable Rate Car Loan 8.95 Nil variable Macquarie Credit Union New Car Loan <5yrs old 9.29 to Nil Nil variable Maritime ing & Power Car Loan Nil variable Memberfirst Credit Union Pers Ln Sec BOS<3yrs 9.25 Nil No max variable Memberfirst Credit Union Personal Ln Sec by TD 8.40 Nil No max variable Memberfirst Credit Union Pers Ln Sec BOS 4-5yrs Nil No max variable NSW Teachers CU New Car Loan-Unsecured 8.99 Nil variable Police Credit Car Loan New Var 8.90 Nil Nil variable Police Credit Car Loan New 8.89 Nil Nil mth to 5yr Police Credit Car Loan Used 9.49 Nil Nil mth to 5yr RTA Staff CU Red Hot Car Loan 9.24 Nil No min No max variable Savings & Loans Cred U Discounted Personal Loan 8.99 to Nil No max 1yr to 5yr Savings & Loans Cred U Green Car Loan 8.49 to 9.85 Nil No max 1yr to 7yr SERVICE ONE Members Variable Rate Car Loan Nil No min variable SERVICE ONE Members Fixed Rate Car Loan 9.75 Nil No min yr to 6yr Unicom Credit Union Variable Rate Car Loan 8.95 Nil variable Unicom Credit Union Secured Personal Loan 9.55 Nil yr to 7yr Unicom Credit Union New Car Loan Secured BOS 8.55 Nil yr to 7yr Wagga Mutual Credit Un Wagga Gold Personal Loan Nil Nil variable "exceptional value" Alliance One CreditUnion New Car Loan - L Nil Nil variable CAR LOAN STAR RATINGS SUMMARY: Page 1 of 8

5 Car Loans Rate Varies With Deposit Unsecured 100% Loan Available "exceptional value" Companion CU New Car Loan Special Nil Nil Defence Force CU Used Car Loan to Nil No min variable Family First CU Assign of Savings Loan 6.50 Nil variable Gateway Credit Union New Car Loan 7.59 Nil Nil variable Heritage Building Soc New Car Loan 20% Deposit 9.35 Nil yr to 10yr Heritage Building Soc New Car Loan Nil variable Horizon Credit Union New Car Loan <1yr 9.20 Nil No min No max variable Horizon Credit Union Personal Loan Sec by TD 9.70 Nil No min No max variable Horizon Credit Union Budget Personal Loan Var Nil variable Karpaty Credit Union Little Ripper Car Loan 9.84 Nil No min variable Macquarie Credit Union Used Car Loan >5yrs old to Nil Nil variable Maleny & District Comm Green Star Car Loan # Nil No max variable Maleny & District Comm Green Star Car Loan # Nil No max variable Maleny & District Comm Green Star Car Loan # Nil No max variable mecu gogreen CarLn NewG/hse Nil No max variable New England CU NSW Fixed Rate Car Loan 7.99 Nil No max 1yr to 5yr New England CU NSW Fixed Rate Car Loan 100% 7.99 Nil No max 1yr to 5yr NSW Teachers CU Used Car Loan Unsecured 9.63 Nil variable Police Credit Car Loan Used Var Nil Nil variable Police CU SA Special Pers Loan Fixed 9.10 Nil No max 1yr to 5yr Qantas Staff CU Car Loan 7.35 Nil Nil No min variable Railways Credit Union New Car Loan 8.55 Nil variable RTA Staff CU New Car Loan 9.70 to Nil No max variable Satisfac Credit Union Car Loan Fixed 8.95 Nil yr Satisfac Credit Union 4 Cylinder Car Loan 8.70 Nil mth to 5yr Select Credit Union New Car Loan Nil variable SERVICE ONE Members Personal Loan Unsecured to Nil No min variable SERVICE ONE Members Personal Loan Secured to Nil variable St George Bank Personal Loan Secured $ variable Suncorp Secured Car Loans Nil No max 1yr to 7yr Sydney Credit Union Fixed Rate Car Loan Nil mth to 5yr Sydney Credit Union Personal Loan Secured Nil variable Sydney Credit Union New Car Loan Nil variable Victoria Teachers CU New Car Loan 8.45 Nil Nil No max variable Victoria Teachers CU Car Loan Variable 9.45 Nil Nil 5000 No max variable "strong value" CAR LOAN STAR RATINGS SUMMARY: Page 2 of 8

6 Car Loans Rate Varies With Deposit Unsecured 100% Loan Available "strong value" ABS Building Society Personal Loan Variable 8.99 to Nil variable Alliance One CreditUnion Variable Car Loan - L Nil variable Australian Central CU Personal Loan Var Unsec Nil No max variable Australian Central CU Personal Loan FixedUnsec Nil No max 1yr to 7yr Bananacoast Community Personal Ln sec Term Dep 6.80 Nil Scale* 2500 No max variable BankSA Fixed Car Loan $ yr to 5yr BankSA Variable Car Loan $ variable Bendigo Bank Green Sec Personal Loan Nil yr to 5yr Capricornia CU Classic Car Loan Nil variable Capricornia CU Performance Car Loan Nil variable Coastline Credit Union Car Loan <3yr 20% Dep Nil No max variable Coastline Credit Union Personal Loan Secured Nil No max variable Coastline Credit Union Car Loan 20% Deposit Nil No max variable Community CPS Australi Car Loan Fxd <6yrs old 9.55 Nil yr to 7yr Community CPS Australi Car Loan Fixed <3yrs old 9.25 Nil yr to 7yr Community CPS Australi Car Loan Var <6yrs old Nil variable Community CPS Australi Enviro Car Loan Fixed 9.35 Nil yr to 7yr Companion CU Used Car Loan Nil Nil Companion CU Secured Personal Loan 8.50 to Nil yr to 7yr FCCS Credit Union New Car Loan 9.95 to Nil No min No max variable Gateway Credit Union Car Loan < 5yrs Old 8.54 Nil Nil variable Heritage Building Soc Personal Loan Var Unsec Nil variable Heritage Building Soc Used Car Loan 20%Deposit Nil variable Heritage Building Soc Personal Loan Var Sec Nil variable Heritage Building Soc Personal Ln Fixed Unsec Nil yr to 5yr Horizon Credit Union Car Loan 13mth-<3yrs old Nil No min No max variable Illawarra CU NSW Unsecured Personal Loan Nil yr to 7yr IMB Limited Personal Loan Secured 9.90 Nil yr to 5yr Intech Credit Union Car Loan 9.50 to Nil variable Karpaty Credit Union New Boat Loan Nil No min variable La Trobe Country Credit Discounted New Car Loan 9.00 Nil variable Macquarie Credit Union Unsecured Personal Loan Nil Nil variable Maleny & District Comm Green Star Car Loan # Nil No max variable Maritime ing & Power Personal Loan Variable Nil variable mecu gogreen CarLn Used=<7Yrs 9.49 Nil No max variable mecu gogreen CarLn NewG/hseNA 8.24 Nil No max variable CAR LOAN STAR RATINGS SUMMARY: Page 3 of 8

7 Car Loans Rate Varies With Deposit Unsecured 100% Loan Available "strong value" Memberfirst Credit Union Partially Sec-Vehicle/TD Nil No max variable Memberfirst Credit Union Car Loan 5-10 yrs old Nil No max variable MyState Financial Secured Personal Loan to Nil variable MyState Financial Unsecured Personal Loan 9.99 to Nil variable Newcastle Permanent Personal Loan Secured 9.49 to Nil No max 3mth to 7yr Newcastle Permanent Used Car Loan 9.49 to Nil No max 3mth to 7yr Orange Credit Union Personal Ln Sav Sec L Nil Nil 2000 No max variable Orange Credit Union New Car Loan L to 9.70 Nil Nil 2000 No max variable Powerstate Credit Union Personal Loan Fix Sec 8.95 Nil No max 1mth to 5yr Qantas Staff CU Personal Ln Sec6mthIntro 7.65 Nil Nil variable Qld Police Credit Union New Vehicle Super Sav Ln 8.99 to 9.50 Nil variable Railways Credit Union Any Age Car Loan Secured Nil variable Reliance Credit Union Personal Overdraft Sec 9.26 Nil variable RTA Staff CU Bill of Sale Loans to Nil No max variable Satisfac Credit Union Car Loan Variable Nil variable Savings & Loans Cred U Fixed Rate Pers Loan Sec Nil No max 1yr to 7yr St George Bank Personal Ln Secured Fxd $ yr to 5yr Sydney Credit Union Personal Loan Unsecured to Nil variable Unicom Credit Union Unsecured Personal Loan Nil yr to 7yr University Credit Soc Personal Ln Sec by TD 7.05 Nil Scale* 5000 No max variable Westpac New Car Loan to $ yr to 7yr "average value" ABS Building Society Personal Ln 2yr Fxd 8.00 to Nil yr ABS Building Society Personal Ln 1yr Fxd 8.50 to Nil yr Alliance One CreditUnion Fixed Car Loan - L Nil mth to 7yr Alliance One CreditUnion Easy Personal Loan - L Nil variable B & E Motor Vehicle <3yrs old 8.95 to 9.95 Nil variable Bananacoast Community Car Loan 9.50 to Nil No max variable BankSA Pers Ln Sec Fixed 2yr $ yr BankSA Pers Ln Sec Fixed 3yr $ yr BankSA Pers Ln Sec Fixed 4yr $ yr BankSA Pers Ln Sec Fixed 1yr $ yr BankSA Personal Loan Sec Var $ variable BankSA Pers Ln Sec Fixed 5yr $ yr Bankstown City CU New Car Manager 9.40 Nil variable BankWest Personal Loan Secured Nil No max 3yr to 7yr CAR LOAN STAR RATINGS SUMMARY: Page 4 of 8

8 Car Loans Rate Varies With Deposit Unsecured 100% Loan Available "average value" Bendigo Bank Secured Personal Loan $ yr to 7yr Capricornia CU Personal Loan Variable to Nil variable Coastline Credit Union Car Loan 10% Deposit Nil No max variable Coastline Credit Union Car Loan Var Secured Nil variable Companion CU Part Secured Persoanl Ln Nil Nil Companion CU Unsecured Pers Ln (P&I) 8.50 to Nil yr to 7yr Credit Union Australia Vehicles <2yrs old -30k 9.69 Nil variable Credit Union Australia Used Vehicle 2-5 yrs old Nil variable Easy Street Fin Services EasyLoan Fixed Nil Nil yr to 5yr Easy Street Fin Services EasyLoan Variable Nil Nil variable Encompass Credit Union Motor Loan (Up to 2yrs) Nil variable Family First CU Secured Car Loan 9.00 to Nil variable First Choice CreditUnion New Car Loan 8.99 to 9.99 Nil No max variable Gateway Credit Union Car Loan > 5yrs Old Nil Nil variable Greater Building Society New Car Loan 8.49 to 9.99 Nil yr to 7yr Heritage Building Soc Personal Loan Fixed Sec Nil yr to 5yr Heritage Building Soc Used Car Loan Nil variable Holiday Coast CU Great Day Personal Loan to Nil No min variable Holiday Coast CU Personal Loan Variable to Nil No max variable Horizon Credit Union Used Car Ln>3yrs old Nil No min No max variable Karpaty Credit Union Car Loan to Nil No min variable La Trobe Country Credit Gold New Car Loan 9.85 Nil variable Macarthur Credit Union Personal Loan (Secured) Nil No min No max variable Macarthur Credit Union Car Loan (New) 8.95 Nil No min No max variable Memberfirst Credit Union Personal Loan Unsecured Nil No min No max variable New England CU NSW Special Car Loan 8.99 to Nil No max variable NSW Teachers CU All Purpose Loan Nil variable NSW Teachers CU Loan for Investment Nil variable Orange Credit Union Used Car Loan L54/56/ to Nil Nil 2000 No max variable Police Credit Personal Loan Unsecured Nil Nil variable Police Credit Personal Loan Secured Nil Nil variable Powerstate Credit Union Car Loan Fixed Secured 8.95 Nil No max 1yr to 5yr Qantas Staff CU Personal Ln Sec Revert 9.15 Nil Nil variable Qld Police Credit Union Whole of Pay SuperSav Ln Nil variable Qld Police Credit Union Used Vehicle SuperSav Ln to Nil variable Queenslanders CU New Car Loan Fxd Nil yr to 5yr CAR LOAN STAR RATINGS SUMMARY: Page 5 of 8

9 Car Loans Rate Varies With Deposit Unsecured 100% Loan Available "average value" Select Credit Union Used Car Loan to Nil No max variable TIO Banking Car Loan (New) $ yr to 7yr Victoria Teachers CU Personal Loan Variable Nil Nil No min No max variable Wagga Mutual Credit Un New Car Variable Loan Nil variable Westpac Used Car Loan to $ yr to 7yr "satisfactory value" ABS Building Society Personal Ln 3yr Fxd 7.75 to Nil yr Adelaide Bank Car Loan Nil No max 1yr to 7yr Alliance One CreditUnion Secured Personal Ln -L Nil variable ANZ Graduate Loan Nil variable Arab Bank Australia Personal Loan Sec Fixed Nil yr to 5yr Arab Bank Australia Personal Ln Secured Var Nil variable Arab Bank Australia Personal Loan Unsec Fixd Nil yr to 5yr Australian Defence CU Personal Loan Secured Nil No max variable Australian Defence CU Used Car Loan to Nil No max variable B & E Motor Vehicle >3yrs old to Nil variable Bananacoast Community Personal Loan Secured to Nil No max variable Bananacoast Community Personal Loan sec mobile Nil Scale* 2500 No max variable Bank of Queensland Car Loan Variable $ No max variable Bank of Queensland Car Loan Fixed $ No max 1yr to 7yr BankSA Personal Loan Unsec Var $ variable BankSA Pers Ln Unsec Fixed 4yr $ yr BankSA Pers Ln Unsec Fixed 3yr $ yr Bankstown City CU Car Manager Nil variable CBFC Personal Loan Fxd 1-4yr Nil yr to 4yr Commonwealth Bank Personal Ln Fixed Unsec $ yr to 7yr Community CPS Australi Personal Loan Var Unsec Nil variable Community CPS Australi Personal Loan Fxd Unsec Nil yr to 7yr Community First CU New Car Loan Fixed 9.75 Nil yr to 5yr Credit Union Australia 20% equity in RealEstate Nil variable ECU Australia Car Loan Nil variable ECU Australia Lifestyle Loan Nil variable Encompass Credit Union Personal Loan Sec by TD 8.99 Nil No min No max variable Encompass Credit Union Personal Loan Secured Nil variable Esanda New Car Loan (5 yrs) to $ No max 5yr First Choice CreditUnion Used Car Loan to Nil No max variable CAR LOAN STAR RATINGS SUMMARY: Page 6 of 8

10 Car Loans Rate Varies With Deposit Unsecured 100% Loan Available "satisfactory value" Greater Building Society Used Car Loan Up to 6yrs 9.49 to Nil yr to 5yr Greater Building Society Used Car Ln 7-10yrs old to Nil yr to 3yr Greater Building Society Personal Loan Secured 8.49 to Nil yr to 7yr Holiday Coast CU Great Day Plus Pers Loan to Nil No min variable Horizon Credit Union Personal Loan Variable Nil No min No max variable Horizon Credit Union Car Ln Var Unsecured Nil No min No max variable Hume Building Society Secured-New Veh <5yrs Nil yr to 5yr Hume Building Society Secured-TermDeposit <5yr Nil yr to 5yr Hume Building Society Secured-Vehicle to 5yrs Nil yr to 5yr Hunter United Credit Un Used Car Loan 9.50 to $ No min variable Hunter United Credit Un Personal Loan Secured 9.50 to $ No min variable Hunter United Credit Un New Car Loan 9.50 to $ No min variable Intech Credit Union Personal Loan to Nil variable Karpaty Credit Union Boat Loan to Nil No min variable La Trobe Country Credit Discounted Used Car Loan 9.70 Nil variable La Trobe Country Credit Gold Used Car Loan Nil variable Lifeplan Funds Managem Sec Term Combo 1-5yr Fxd Nil yr to 5yr Lifeplan Funds Managem Per Ln Sec by Bond/Dep 9.25 Nil variable Maleny & District Comm Green Star Car Loan # Nil No max variable Maroondah Credit Union Personal Loan Variable 9.25 to Nil Scale* variable mecu Personal Loan Nil Nil 1000 No max variable Members Equity Bank Personal Loan Fxd Nil yr to 5yr nab Personal Ln Unsec Var to $ variable nab Pers Ln Fully Sec Var Nil No max variable nab Pers Ln Fully Sec Fixed Nil No max 1yr to 7yr New England CU NSW Car Loan Nil No max variable Nurses First Personal Loan Secured to $ No max variable Police & Nurses Credit Personal Loan Secured $ No max variable Police CU NSW Driveaway Car Loan Nil No max variable Police CU SA Special Variable Pers Ln Nil No max variable Powerstate Credit Union Car Loan Variable Sec 9.95 Nil No max variable Powerstate Credit Union Personal Loan Var Sec Nil No max variable Qantas Staff CU Personal Loan Unsecured Nil Nil No min variable Qld Professional CU Car Loan 9.25 to Nil No max variable Qld Teachers CU New Car Ln Special Sec 9.50 Nil variable CAR LOAN STAR RATINGS SUMMARY: Page 7 of 8

11 Car Loans Rate Varies With Deposit Unsecured 100% Loan Available "satisfactory value" Queenslanders CU Car Loan Var 1-5yr Old 9.70 to Nil variable Queenslanders CU New Car Loan 9.70 to Nil variable Railways Credit Union Personal Loan Var Rate Nil variable Reliance Credit Union New Car Loan Nil yr to 7yr RTA Staff CU Unsecured Personal Loan Nil variable Satisfac Credit Union Personal Loan Variable Nil variable Select Credit Union Personal Loan Var Rate to Nil variable SGE Credit Union New Car Loan Nil Nil SGE Credit Union Personal Loan Secured Nil Nil SGE Credit Union Personal Loan Unsecured Nil Nil St George Bank Personal Loan Unsecured $ variable St George Bank Unsecured Fixed 4yr $ yr St George Bank Unsecured Fixed 5yr $ yr Suncorp Personal Loan-Unsecured Nil No max 1yr to 7yr Sutherland Credit Union Spec Offer Car Loan Var 8.95 Nil variable TAFE & Community CU Personal Loan Nil variable TAFE & Community CU Car Loan 9.01 to 9.51 Nil No max variable TIO Banking Car Loan-Fxd to $ yr to 7yr University Credit Soc Student Loan 9.95 to Nil Nil 1000 No max variable University Credit Soc Used Car up to 5yrs old Nil Scale* 1000 No max variable University Credit Soc New Car up to 1yr old 9.90 Nil Scale* 1000 No max variable Wagga Mutual Credit Un Car Loan up to 3yr old Nil variable Warwick Credit Union Personal Loan Secured Nil No max variable Westpac Personal Loan Unsecured to $ yr to 7yr Westpac Personal Loan Secured to $ yr to 7yr CAR LOAN STAR RATINGS SUMMARY: Page 8 of 8

12 Unsecured Personal Loans Apply Online Holiday Consolidate Debt Home Renovation Any Legal Purpose "superior value" ABS Building Society Personal Loan Variable 8.99 to Nil variable Australian Central CU Personal Loan Var Unsec Nil No max variable Australian Central CU Personal Loan FixedUnsec Nil No max 1yr to 7yr First Option CreditUnion Personal Ln Fixed -Unsec 9.99 Nil Nil yr First Option CreditUnion Personal Ln Fixed -Unsec 8.99 Nil Nil yr Heritage Building Soc Personal Ln Fixed Unsec Nil yr to 5yr Heritage Building Soc Personal Loan Var Unsec Nil variable Illawarra CU NSW Unsecured Personal Loan Nil yr to 7yr Maritime ing & Powe Personal Loan Variable Nil variable MyState Financial Unsecured Personal Loan 9.99 to Nil variable SERVICE ONE Member Personal Loan Unsecured to Nil No min variable Unicom Credit Union Unsecured Personal Loan Nil yr to 7yr "exceptional value" Capricornia CU Personal Loan Variable to Nil variable Companion CU Unsecured Pers Ln (P&I) 8.50 to Nil yr to 7yr Easy Street Fin Services EasyLoan Variable Nil Nil variable Easy Street Fin Services EasyLoan Fixed Nil Nil yr to 5yr First Option CreditUnion Personal Ln Fixed -Unsec Nil Nil yr Holiday Coast CU Great Day Plus Pers Loan to Nil No min variable Macquarie Credit Union Unsecured Personal Loan Nil Nil variable Memberfirst Credit Unio Personal Loan Unsecured Nil No min No max variable Newcastle Permanent Personal Loan Unsecured to Nil mth to 7yr NSW Teachers CU All Purpose Loan Nil variable NSW Teachers CU Loan for Investment Nil variable Police Credit Personal Loan Unsecured Nil Nil variable Qld Police Credit Union Whole of Pay SuperSav Ln Nil variable RTA Staff CU Unsecured Personal Loan Nil variable UNSECURED PERSONAL LOAN SUMMARY: Page 1 of 4

13 Unsecured Personal Loans Apply Online Holiday Consolidate Debt Home Renovation Any Legal Purpose "exceptional value" Select Credit Union Personal Loan Var Rate to Nil variable Suncorp Personal Loan-Unsecured Nil No max 1yr to 7yr Victoria Teachers CU Personal Loan Variable Nil Nil No min No max variable "strong value" BankSA Pers Ln Unsec Fixed 4yr $ yr BankSA Personal Loan Unsec Var $ variable BankSA Pers Ln Unsec Fixed 3yr $ yr Credit Union Australia 20% equity in RealEstate Nil variable First Option CreditUnion Unsec Personal Loan -Var Nil Nil variable Gateway Credit Union Personal Loan Var Rate Nil Nil No min variable Horizon Credit Union Personal Loan Variable Nil No min No max variable IMB Limited Personal Loan Unsecured Nil yr to 5yr Maroondah Credit Union Personal Loan Variable 9.25 to Nil Scale variable Members Equity Bank Personal Loan Fxd Nil yr to 5yr Police CU SA Special Variable Pers Ln Nil No max variable Qantas Staff CU Personal Loan Unsecured Nil Nil No min variable Railways Credit Union Personal Loan Var Rate Nil variable Satisfac Credit Union Personal Loan Variable Nil variable St George Bank Personal Loan Unsecured $ variable St George Bank Unsecured Fixed 3yr $ yr St George Bank Unsecured Fixed 4yr $ yr St George Bank Unsecured Fixed 5yr $ yr University Credit Soc Student Loan 9.95 to Nil Nil 1000 No max variable "average value" Australian Defence CU Personal Loan Unsecured to Nil No max variable UNSECURED PERSONAL LOAN SUMMARY: Page 2 of 4

14 Unsecured Personal Loans Apply Online Holiday Consolidate Debt Home Renovation Any Legal Purpose "average value" BankSA Pers Ln Unsec Fixed 1yr $ yr BankSA Pers Ln Unsec Fixed 2yr $ yr BankSA Pers Ln Unsec Fixed 5yr $ yr Bendigo Bank Unsecured Personal Loan $ yr to 5yr Coastline Credit Union Personal Ln Unsec to Nil variable Commonwealth Bank Personal Ln Fixed Unsec $ yr to 7yr Community CPS Australi Personal Loan Var Unsec Nil variable Community CPS Australi Personal Loan Fxd Unsec Nil yr to 7yr Credit Union Australia Personal Loan Unsecured Nil variable FCCS Credit Union Unsecured Personal Loan to Nil variable Hunter United Credit Un Personal Loan Unsecured 9.50 to $ No min variable Intech Credit Union Personal Loan to Nil variable mecu Personal Loan Nil Nil 1000 No max variable nab Personal Ln Unsec Var to $ variable TAFE & Community CU Personal Loan Nil variable Westpac Personal Loan Unsecured to $ yr to 7yr "satisfactory value" Adelaide Bank Unsecured Personal Loan Nil No max 1yr to 7yr Alliance One CreditUnio Unsec All Purpose - L Nil variable ANZ Variable Rate Pers Loan Nil No max variable ANZ Fixed Rate Personal Loan Nil No max 1yr to 7yr Arab Bank Australia Personal Loan Unsec Fixd Nil yr to 5yr Arab Bank Australia Personal Loan Unsec Var Nil variable Bank of Queensland Personal Ln Var Unsec $ variable Bank of Queensland PersLoan Fxd Unsecured $ yr to 7yr BankWest Personal Loan Unsecured $ No max 3yr to 7yr Commonwealth Bank Personal Loan Var Unsec to $ variable UNSECURED PERSONAL LOAN SUMMARY: Page 3 of 4

15 Unsecured Personal Loans Apply Online Holiday Consolidate Debt Home Renovation Any Legal Purpose "satisfactory value" ECU Australia Lifestyle Loan Nil variable Family First CU Personal Loan Variable to Nil variable First Choice CreditUnion Personal Loan Nil variable Greater Building Society Personal Ln-Home Owner to Nil yr to 7yr Greater Building Society Personal Ln-Non Homeown to Nil yr to 3yr Hume Building Society Personal Loan Unsecured Nil yr to 5yr Hunter Mutual Personal Ln L Nil variable Karpaty Credit Union Personal Loan Unsecured Nil No min variable Lifeplan Funds Manage Unsec Term Combo 1-5yrFx Nil yr to 5yr Lifeplan Funds Manage Pers Ln Fxd 1-5yrs Unsec Nil variable Macarthur Credit Union Personal Loan(Unsecured) Nil No min No max variable nab Personal Ln Unsec Fixed to $ yr to 7yr Nurses First Personal Loan Unsecured to $ No max variable Orange Credit Union Personal Loan Unsec L Nil Nil 5000 No max variable Police & Nurses Credit Personal Loan Unsecured $ No max variable Police CU NSW Personal Loan Unsecured Nil variable Police CU SA Standard Variable PersLn Nil No max variable Police CU SA Variable Rate Pers Loan Nil No max variable Qld Police Credit Union All Purpose Loan Nil variable Qld Professional CU Personal Loan Nil No max variable Qld Teachers CU Personal Loan Variable to Nil variable Reliance Credit Union Personal Overdraft unsec Nil variable SGE Credit Union Personal Loan Unsecured Nil Nil University Credit Soc Personal Loan Unsecured Nil Scale 5000 No max variable Wagga Mutual Credit Un Personal Loan Unsecured Nil variable Warwick Credit Union Personal Ln Unsec/Pt Sec to Nil variable UNSECURED PERSONAL LOAN SUMMARY: Page 4 of 4

16 Secured Personal Loans Apply Online Holiday Consolidate Debt Home Renovation Any Legal Purpose "superior value" Family First CU Assign of Savings Loan 6.50 Nil variable First Option CreditUnion 100% Cash Secured Perl 7.94 Nil Nil variable Heritage Building Soc Cake & Eat It Loan 7.55 Nil variable Holiday Coast CU Personal Loan Fixed Nil No max 1yr to 7yr Holiday Coast CU FTD Secured Loan 7.25 Nil No min No max variable Illawarra CU NSW Secured Personal Loan 9.55 Nil yr to 7yr Memberfirst Credit Unio Personal Ln Sec by TD 8.40 Nil No max variable SERVICE ONE Member Personal Loan Secured to Nil variable Unicom Credit Union Secured Personal Loan 9.55 Nil yr to 7yr "exceptional value" Bananacoast Communit Personal Ln sec Term Dep 6.80 Nil Scale 2500 No max variable Companion CU Secured Personal Loan 8.50 to Nil yr to 7yr First Option CreditUnion Personal Loan Fixed -Sec 9.99 Nil Nil yr First Option CreditUnion Personal Loan Fixed -Sec 8.99 Nil Nil yr Heritage Building Soc Personal Loan Var Sec Nil variable Horizon Credit Union Budget Personal Loan Var Nil variable Horizon Credit Union Personal Loan Sec by TD 9.70 Nil No min No max variable IMB Limited Personal Loan Secured 9.90 Nil yr to 5yr Memberfirst Credit Unio Partially Sec-Vehicle/TD Nil No max variable MyState Financial Secured Personal Loan to Nil variable Newcastle Permanent Personal Loan Secured 9.49 to Nil No max 3mth to 7yr Police CU SA Special Pers Loan Fixed 9.10 Nil No max 1yr to 5yr St George Bank Personal Loan Secured $ variable St George Bank Personal Ln Secured Fxd $ yr to 5yr University Credit Soc Personal Ln Sec by TD 7.05 Nil Scale 5000 No max variable "strong value" ABS Building Society Personal Ln 2yr Fxd 8.00 to Nil yr ABS Building Society Personal Ln 1yr Fxd 8.50 to Nil yr Alliance One CreditUnio Variable Car Loan - L Nil variable Bendigo Bank Secured Personal Loan $ yr to 7yr Coastline Credit Union Personal Loan Secured Nil No max variable SECURED PERSONAL LOAN SUMMARY: Page 1 of 3

17 Secured Personal Loans Apply Online Holiday Consolidate Debt Home Renovation Any Legal Purpose "strong value" First Option CreditUnion Personal Loan Fixed -Sec Nil Nil yr Heritage Building Soc Personal Loan Fixed Sec Nil yr to 5yr Holiday Coast CU Great Day Personal Loan to Nil No min variable Holiday Coast CU Personal Loan Variable to Nil No max variable Orange Credit Union Personal Ln Sav Sec L Nil Nil 2000 No max variable Police Credit Personal Loan Secured Nil Nil variable Powerstate Credit Union Personal Loan Fix Sec 8.95 Nil No max 1mth to 5yr Reliance Credit Union Personal Overdraft Sec 9.26 Nil variable "average value" ABS Building Society Personal Ln 3yr Fxd 7.75 to Nil yr Alliance One CreditUnio Fixed Car Loan - L Nil mth to 7yr Alliance One CreditUnio Easy Personal Loan - L Nil variable BankSA Pers Ln Sec Fixed 2yr $ yr BankSA Personal Loan Sec Var $ variable BankSA Pers Ln Sec Fixed 3yr $ yr BankSA Pers Ln Sec Fixed 1yr $ yr BankSA Pers Ln Sec Fixed 5yr $ yr BankSA Pers Ln Sec Fixed 4yr $ yr Companion CU Part Secured Persoanl Ln Nil Nil FCCS Credit Union Secured Personal Loan to Nil variable First Option CreditUnion Secured Personal Ln -Var Nil Nil variable nab Pers Ln Fully Sec Var Nil No max variable RTA Staff CU Bill of Sale Loans to Nil No max variable "satisfactory value" Alliance One CreditUnio Secured Personal Ln -L Nil variable Arab Bank Australia Personal Loan Sec Fixed Nil yr to 5yr Arab Bank Australia Personal Ln Secured Var Nil variable Australian Defence CU Personal Loan Secured Nil No max variable Bananacoast Communit Personal Loan sec mobile Nil Scale 2500 No max variable Bananacoast Communit Personal Loan Secured to Nil No max variable SECURED PERSONAL LOAN SUMMARY: Page 2 of 3

18 Secured Personal Loans Apply Online Holiday Consolidate Debt Home Renovation Any Legal Purpose "satisfactory value" Encompass Credit Unio Personal Loan Sec by TD 8.99 Nil No min No max variable Encompass Credit Unio Personal Loan Secured Nil variable Gateway Credit Union Personal Ln Sec Var 7yr Nil Nil No min variable Greater Building Society Personal Loan Secured 8.49 to Nil yr to 7yr Hume Building Society Secured-Vehicle to 5yrs Nil yr to 5yr Hume Building Society Secured-New Veh <5yrs Nil yr to 5yr Hume Building Society Secured-TermDeposit <5yr Nil yr to 5yr Hunter United Credit Un Personal Loan Secured 9.50 to $ No min variable Lifeplan Funds Manage Per Ln Sec by Bond/Dep 9.25 Nil variable Lifeplan Funds Manage Sec Term Combo 1-5yr Fxd Nil yr to 5yr Macarthur Credit Union Personal Loan (Secured) Nil No min No max variable nab Pers Ln Fully Sec Fixed Nil No max 1yr to 7yr Nurses First Personal Loan Secured to $ No max variable Orange Credit Union Personal Ln Part Sec L Nil Nil 2000 No max variable Police & Nurses Credit Personal Loan Secured $ No max variable Powerstate Credit Union Personal Loan Var Sec Nil No max variable SGE Credit Union Personal Loan Secured Nil Nil Warwick Credit Union Personal Loan Secured Nil No max variable Westpac Personal Loan Secured to $ yr to 7yr SECURED PERSONAL LOAN SUMMARY: Page 3 of 3

19 CANSTAR CANNEX personal loan star ratings - methodology What are the CANSTAR CANNEX personal loan star ratings? CANSTAR CANNEX personal loan star ratings is a sophisticated rating methodology, unique to CANSTAR CANNEX that compares the dominant personal and car loan products in Australia and presents the results in a simple, user-friendly format. CANSTAR CANNEX ratings methodology is transparent and extensive. The methodology compares all types of secured and unsecured personal and car loans in Australia and accounts for an array of characteristics such as; Loan Purpose Pre-Approval Availability Security Requirements Deposit Requirements Repayment Capabilities Channels of Availability The results are reflected in a consumer-friendly 5-star concept. The star ratings from the CANSTAR CANNEX personal loan star ratings are described as follows: Superior Excellent Strong Average Satisfactory Only the top 75% of the personal loans examined actually receive a star rating between 1 and 5. What are the categories used by CANSTAR CANNEX personal loan star ratings? CANSTAR CANNEX appreciates the clear distinction of personal loan users as two separate groups. One group of borrowers uses personal loans mainly to purchase automobiles while the other group uses personal loans to finance other interests such as debt consolidation or holidays. The latter group may require either a secured or an unsecured loan. In recognition of these differences, the CANSTAR CANNEX personal loan star ratings methodology has been modified to reflect the differences between these three groups. A snapshot of each category is provided below. The tables provide an explanation of each category as well as the relative importance of the cost and features components. There is a separate set of star ratings for each category. How does it work? How are the stars calculated? Each loan reviewed for the CANSTAR CANNEX personal loan star ratings is awarded points for its comparative Cost and for the array of positive Features attached to the loan. All products are assessed against these measures with the competitiveness of each product being highlighted by the star rating allocation after being compared to its peer products. YOUR GUIDE TO PRODUCT EXCELLENCE

20 PRICING SCORE (C) + FEATURES SCORE (F) = TOTAL SCORE (T) Total Cost Includes interest cost and ongoing cost Pricing Score 70% Features Includes 18 different categories DESCRIPTION CAR LOAN FEATURES WEIGHT Feature Score 30% CANSTAR CANNEX personal loan star ratings TM WEIGHTINGS COST (C) *)* FEATURES (F)** TOTAL (C+F) Car Loan 70% 30% 100% Unsecured Personal Loan 70% 30% 100% Secured Personal Loan 70% 30% 100% Cost calculations consider current interest rates as well as ongoing fees associated with the loans ** Features calculations consider features/parameters, flexibility, terms and conditions Unsecured PERSONAL LOAN FEATURES WEIGHT Secured PERSONAL LOAN FEATURES WEIGHT LENDING TERMS 17.00% 16.00% 16.00% REPAYMENT CAPABILITIES 17.00% 16.00% 16.00% SECURITY REQUIREMENTS 3.00% 0.00% 3.00% CHANNEL AVAILABILITY 7.00% 7.00% 6.00% DOCUMENTATION REQUIRED 5.00% 6.00% 5.00% PERSONAL LOAN FEES & CHARGES 6.00% 5.00% 5.00% LENDING AREAS 5.00% 5.00% 5.00% SWITCHING FACILITY 6.00% 5.00% 5.00% TURNAROUND TIMES 6.00% 5.00% 5.00% REDRAW FACILITY 7.00% 5.00% 5.00% LOAN INSURANCE 6.00% 3.00% 3.00% DEPOSIT REQUIREMENTS 6.00% 2.00% 2.00% AGE GROUP RESTRICTIONS 3.00% 3.00% 3.00% STATEMENT OPTIONS 3.00% 3.00% 3.00% LOYALTY PROGRAMS 2.00% 2.00% 2.00% PACKAGES 1.00% 2.00% 2.00% LOAN PURPOSE 0.00% 15.00% 14.00% % % % Descriptions /max conditions, income/repayment ratio, approval conditions, rate imum repayments requirements, avenues, repayments options Unsecured/ partial/ bill of sale/ lien over TD/ other Branch/ internet/ mobile lend/ broker/ phone Bank reference/ pay slip/ proof of residency/ previous lender ref/ tax return Initial fees/ ongoing fees/ penalty fees Lending states Variable fixed switch allowed/ fees Standard approval turnaround Availability/ conditions/ fees Insurance required on purpose of loan/ Loan insurance details 100% loan availability/ min-max deposit requirements/ rate variation for deposit Restricted to age groups/ specific age breakdowns Frequency options/ online option Loyalty program available/ linked rewards program/ points per $1 Discounts available/ associated companies Motorcycles/ new or used cars/ holidays/ debt consolidation/ renovations etc. YOUR GUIDE TO PRODUCT EXCELLENCE 2

21 Costs (C) CANSTAR CANNEX compares the current loan pricing data to calculate the COST (C) component of each product s overall score. The current interest rate, upfront fees and ongoing fees are used to calculate the total amount repaid on each loan by the borrower for the loan scenario used for each category (scenarios below). Loan Scenarios for each of the two loan categories Car Loan - $25,000 repaid over 5 years - to be eligible for this category, loans must be available for car purchase and be available for the loan amount and loan term used in the car loan scenario. Unsecured/Secured Personal Loan - $15,000 repaid over 3 years - to be eligible for this category, loans must be available for debt consolidation and holidays and be available for the loan amount and loan term used in that personal loan scenario. For those loans that gave a range of interest rates, the tiered rate for the scenario loan amount was used in the calculation. The average application fee of the loan group was substituted for those loans that had a tiered application fee. Features (F) Each loan Feature (F) is allocated points. Points are awarded for positive loan traits such as less fees or greater flexibility. The total features score for each category of information (eg repayment capabilities) is ranked and weighted with each category contributing to the overall Features Score (F). Weightings The Costs (C) plus Features (F) point scores are indexed and totalled to provide the Total Index Points. Together they form the basis of the CANSTAR CANNEX personal loan star ratings. The Costs and Features weights are equal in each loan profile. The weights applied to each features sub-category is subtly adjusted to account for the differences between the two groups. The process considers each category separately and assigns weights representative of the relative importance of each group of features to each group (see previous table). For both the Car Loan and Personal Loan categories, the total calculated cost of a loan accounts for a maximum 70% of each loan s total score and the features account for the remaining 30%. The Costs (C) plus Features (F) point scores are indexed and totalled to provide the Total Index Points. Together they form the basis of the CANSTAR CANNEX personal loan star ratings. How are the stars awarded? The total score received for each profile ranks the products. The stars are then awarded based on the distribution of the scores according to the following guidelines. Only the personal loans that obtain a score in the top 5% of the of the score distribution receive a 5 star rating and only the top 75% of the score range receive a star rating. YOUR GUIDE TO PRODUCT EXCELLENCE 3

22 How many products and financial institutions are analysed? In order to calculate the ratings, CANSTAR CANNEX analyses just over 500 Personal and Car Loans from over 90 financial institutions in Australia. In addition, over 100 parts of a product are analysed which includes product parameters, flexibility and operating terms and conditions. How often are CANSTAR CANNEX personal loans star ratings re-rated? s are officially re-rated every six months. The results are published in a variety of mediums (newspapers, magazines, television, websites etc). Does CANSTAR CANNEX rate other product areas? CANSTAR CANNEX researches, compares and rates the suite of banking and insurance products listed below. These star ratings use similar methodologies to guarantee quality, consistency and transparency. Results are freely available to consumers who use the star ratings as a guide to product excellence. The use of similar star ratings logos also builds consumer recognition of quality products across all categories. Please access the CANSTAR CANNEX website at if you would like to view the latest star ratings reports of interest. Business banking Car insurance Credit cards Deposit accounts Health insurance Home & Contents Life Insurance Low-doc home loans Margin lending Mortgages Package banking Personal loans Reward programs COPYRIGHT CANSTAR CANNEX Pty Ltd ABN , The recipient must not reproduce or transmit to third parties the whole or any part of this work, whether attributed to CANSTAR CANNEX or not, unless with prior written permission from CANSTAR CANNEX, which if provided, may be provided on conditions. DISCLAIMER To the extent that any CANSTAR CANNEX data, ratings or commentary constitutes general advice, this advice has been prepared by CANSTAR CANNEX Pty Ltd ABN AFSL and does not take into account your individual investment objectives, financial circumstances or needs. Information provided does not constitute financial, taxation or other professional advice and should not be relied upon as such. CANSTAR CANNEX recommends that, before you make any financial decision, you seek professional advice from a suitably qualified adviser. A Disclosure Statement relating to the product should also be obtained and considered before making any decision about whether to acquire the product. CANSTAR CANNEX acknowledges that past performance is not a reliable indicator of future performance. Please refer to CANSTAR CANNEX s FSG for more information at YOUR GUIDE TO PRODUCT EXCELLENCE 4