Coles personal loans
Coles Financial Services is an Australian non-bank personal loan lender and part of the Coles Group, one of Australia’s biggest supermarket chains. As well as personal loans, Coles provides financial products such as credit cards and insurance.
While Coles Financial Services has no physical branches, its customer support team is based in Sydney.
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Why choose Coles
Coles Personal Loans
Personal Loans calculator
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
Your estimated repayments
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- This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
- Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
- Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
- Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
- The calculation rounds of the personal loan repayment to the closest dollar value without decimals.
- All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
- Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
- Calculator does not include the cost of fees or other extra charges.
- Calculator does not account for changes to interest rates over time.
- This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.
Features of a Coles personal loan
Coles provides unsecured personal loans of $5,000 and $50,000. Borrowers can pay it off over three, four or five years. An unsecured personal loan means you don’t have to secure your loan with an asset, such as a car or property, so there’s no risk of you losing your asset if things don’t work out.
This lender charges various fees on its personal loans including establishment fees, monthly ongoing fees, late fees and redraw fees. However, Coles does not charge an early repayment fee.
Coles only provides unsecured variable-rate personal loans. A variable interest rate means the rate could move up or down during your loan term, which could affect your repayments.
Coles personal loans – customer service
Customers can contact Coles by phone, email, live online chat and post. You can call Coles’ dedicated personal loans phone 24/7. Live online chat is available 8am to 7pm (AEST) on weekdays.
Who is eligible for a Coles personal loan?
- Must be over the age of 18.
- Must be a permanent Australian resident.
- Must be employed as a permanent full-time or part-time employee, or self-employed.
- Must earn at least $35,000 a year.
- Must have a good credit rating.
- Must have proof of identify and income.
How to apply for a Coles personal loan?
The application process takes about 15 minutes and can be done on the Coles website.
- Click ‘Get started’ on their website.
- Complete the online application form.
- Submit the application.
- Wait for a response. This may take about 60 seconds.
Coles personal loans review
Coles’ personal loans are suitable for those with a good credit history. Those who have Flybuys membership may be eligible for a lower interest rate and may also be able to earn Flybuys points on their personal loan.
Personal loan customers can borrow up to $50,000, with a maximum term of five years.
Coles charges an establishment fee, ongoing monthly fees and late fees. However, borrowers can pay off their loan early without penalty. If you’re applying for a Coles personal loan, it’s best to read the contract carefully before committing to the loan.
Coles’ interest rates are moderate compared with other personal loan lenders. If you’re a Flybuys member, the interest rates you may be eligible for are moderately low.
If you’re looking for the best personal loan rates for you, it’s a good idea to compare interest rates, fees and features from a few different lenders.
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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.
