Everyday Loans

We provide unsecured personal loans from $500 to $15,000 and although we are happy to assist members who genuinely require financial assistance we abide with the recent National Consumer Credit Protection Act (NCCP) which discourages irresponsible lending.

Maximum terms for loans depend upon the amount borrowed and the table immediately below provides an indication.

Maximum Terms:

Up to $2,000: 2 years
$2,001 - $4,000: 2½ years
$4,001 - $6,000: 3 years
$6,001 - $10,000: 5 years
Over $10,000: 7 years

Frequently Asked Questions

1. How much can I borrow?
We provide personal loans from $500 to $15,000 (and up to $30,000 Special Purpose Loans for property owners with substantial equity). Although we are happy to assist members who genuinely require financial assistance we also abide with the National Consumer Credit Protection (NCCP) charter which discourages irresponsible lending. We don’t want you to have debt, so we strongly recommend that you only borrow what you need – and repay it as quick as possible.

2. What is the interest rate?
Our core interest rate is currently 12.90%, however, if you have been a continuous member of APS Benefits for 10 years or more the rate is reduced to 11.90%.  Special Purpose Loans attract a further 1% discount (ie 11.90% and 10.90% respectively).

3. Can I top up my loan before it has been fully paid?
If you have had a Webloan approved for a certain amount you can top up to that approved amount at any time simply by emailing your request. There are no forms to complete or other documentation to send. Funds will then be credited to your bank account. If, however, you require more than the approved amount you can apply for an increase online at APS Webloans. Please note that a $40 top up fee will apply.

4. Do I need to become a member to apply for a loan?
Yes. You will need to join, but remember membership also entitles you to a funeral benefit plus access to our other not-for-profit services such as Financial Panning, Taxation and Mortgage Broking.

5. Do I need to be a member for minimum period of time before I can apply for loan?
No. You can apply for a loan at the same time as applying for membership; and you can do so online. Simply log into APS Webloans and follow the prompts.

6. How long do loans take to process?
Generally your application will be assessed within 24 hours of us receiving it. There may be need for us to contact you so please ensure you have advised your correct telephone numbers.

7. Can I withdraw my application?
Your application can be withdrawn at any time prior to the funding of the loan and no fee will be charged.

8. How can I repay this loan?
Loan repayments must either be made by allotment each fortnight from the member’s salary or by Direct Debit Request from the member’s bank account. These Direct Debit Requests can be made fortnightly or monthly.

9. Can I make extra payments on my loan?
Extra payments can be made at any time by:-
• Transferring funds through the internet.
• Authorising a special Direct Debit Request (by phone).
• Paying directly into our CBA account, or
• Forwarding a cheque.
For details on your preferred option please contact our office.

10. Are there any penalties for early repayment of the loan?
No. There is no minimum term and you only pay for the interest which has been accrued. You can contact our office at any time for a payout amount.

11. What is the maximum term?
Loans up to $6,000 – Three years
Loans up to $10,000 – Five years
Loans up to $15,000 – Seven years

12. How is interest calculated?
Interest is calculated on the daily balance and added to your loan on the last day of each calendar month.

13. How do I apply for a loan?
The simplest method for both you and us is to use our APS Webloans facility. However, if you are unable to use this you may download a form and email/fax/post it to us. In all cases we will require a copy of your latest pay advice and your banking details (for funding purposes).

14. How do I obtain the balance of my loan?
The quickest and easiest way is to log onto our APS Online facility. Otherwise you can contact our office.