Coles Personal Loans


Take advantage of a personal loan that offers extra points for flybuys members, plus a reusable line of credit.


flybuys member rate from
11.99%p.a.*
variable rate
Comparison rate from
12.94%p.a.+

Non-flybuys member rate from
12.99%p.a.~
variable rate
Comparison rate from
13.93%p.a.+
Establishment Fee
$199
Monthly Service Fee
$10

Special rates for flybuys members

  • flybuys members rates
    11.99%p.a. to 17.99%p.a. *
  • flybuys members rates - comparison rate
    12.94%p.a. to 18.91%p.a. +
  • Establishment Fee
    $199
  • Non-flybuys member rates
    12.99%p.a. to 19.99%p.a. ~
  • Non-flybuys member rates - comparison rate
    13.93%p.a. to 20.90%p.a. +
  • Monthly Service Fee
    $10

  • Clicking the Apply Now button will take you to your Online Application on the bank's website.
  • Your application will take less than 10 minutes to complete

How to apply for a Coles Personal Loan

If you are interested in applying for a Coles Personal Loan, all you need to do is click the 'apply now' button to be redirected to the online application form. First, take a look at the application criteria and what you will need to apply:



Application criteria

Make sure you meet the following criteria before you apply:

  • You are aged 18 years or older
  • You are a permanent Australian resident
  • You earn an income of $35,000 p.a. or more

Required information

  • Driver's licence or passport
  • Employment and income details
  • Household expenses
  • Other loan and credit card repayments
  • Your existing flybuys Membership Account Number (if you have one)

If this loan sounds like it is right for you, hit the 'apply now' button to get the application process started.

Some Benefits of a Coles Personal Loan

  • Loan terms

    Flexible loan terms from 3 to 5 years. Borrow between $5,000 and $50,000 (T&Cs apply).

  • Special rates for flybuys members

    Interest rates range from 11.99% p.a. - 17.99% p.a. (comparison rate 12.94% p.a. - 18.91% p.a.) for flybuys members, and from 12.99% p.a. - 19.99% p.a. (comparison rate 13.93% p.a. - 20.90% p.a.) for non-flybuys members.

  • Earn flybuys

    1 extra flybuys point per $1 spent at Coles, up to 1,000 EXTRA POINTS per loan, per month.

  • No exit fees

    Pay off your loan earlier if it suits you.

The Coles Personal Loan

What we love...

As a flybuys member, you can enjoy a wide range of benefits when you apply for a Coles Personal Loan. First up, depending on your credit score, you can benefit from a lower interest rate as a flybuys member on your loan starting from 11.99%. As the only personal loan with flybuys, the Coles Personal Loan also offers customers 1 extra flybuys point per $1 spent at Coles, up to 12,000 extra points per loan, per year. That's up to $60 in value each year.

Another handy feature on the Coles Personal Loan is its reusable line of credit. That means, when you start paying off your loan, you can spend up to the loan limit again simply by using your Coles Personal Loan Debit Mastercard. You don’t need to apply for more credit – you can just use the credit limit that has already been extended to you, to then pay it off and reuse again as needed.

With loan terms of three, four or five years available, you can apply for a loan between $5,000 and $50,000. You will pay equal monthly repayments for your initial chosen loan term, which can make it easier for you to plan your budget. And, if you want to pay off your loan earlier, you can do so without having to worry about paying early exit fees.

With the Coles Personal Loan, you can also benefit from an easy application process. You can get a personalised interest rate estimate before you apply with no effect on your credit score, to then apply online and potentially be approved within 24 hours. Please note your final interest rate is subject to your credit score when you apply. In terms of managing your loan, you can do this via the Coles Mobile Wallet app 24/7.

What’s not so great...

When you are approved for a Coles Personal Loan, be aware that you will pay a $199 establishment fee, and then a $10 monthly fee ongoing. You will not be charged a monthly fee in the event your Account has a zero balance and have no retail or cash transactions in that Statement Period

It’s worth bearing in mind that when you pay your monthly loan installment, that allows you to pay off your Coles Personal Loan within your initial chosen loan term. However, if you choose to use the reusable credit facility, additional monthly repayments will be required on your loan. With no end date on the loan while you reuse your line of credit, it’s important to understand how much you are paying in interest and extra monthly fees.

Overall Rating

Pros

  • Earn flybuys
  • Special rates for flybuys members: Indicative interest rates range from 11.99% p.a. - 17.99% p.a. (comparison rate 12.94% p.a. - 18.91% p.a.) for flybuys members, and from 12.99% p.a. - 19.99% p.a. (comparison rate 13.93% p.a. - 20.90% p.a.) for non-flybuys members.
  • No exit fees when you pay off your loan earlier

Cons

  • Establishment fee of $199
  • $10 monthly fee. You will not be charged a monthly fee in the event your Account has a zero balance and have no retail or cash transactions in that Statement Period.