Do I have to be an Reliance member to take out a loan?

Reliance is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder, therefore you do have to become a member. Learn about the benefits of membership. ^

How much can I borrow?

The minimum amount you can borrow is $1,000. The actual amount you can borrow is determined by your ability to meet the repayments of the loan. Wish to calculate how much you could borrow? Use our loan calculator. ^

How do I make repayments on the loan?

We prefer you to make your loan repayments by payroll deduction, although you can also make payments through Periodical Payment from your Reliance savings or transaction account, BranchNet Internet Banking or PHONEteller Telephone Banking transfer, at our Membership Centre or by using Bank@Post at most Australia Post Offices. ^

How often will I receive information on my account?

Statements are issued monthly or every three months as required. Duplicate statements can be requested at any time from our Membership Centre or by contacting the Call Centre.
Account Balances and Statements are also available through our BranchNet Internet Banking and PHONEteller Telephone Banking services. ^

What security is required to take out a Car Loan?

We will take a Bill of Sale over your vehicle as security. To enable this to be registered with REVS there will be a small fee involved. See our Fees and Charges for more information.

What happens if I get sick, have an accident or pass away?

The best way to obtain peace of mind that your repayment obligations will be met in the case of accident, illness or death is to take out insurance. Learn more about our Income Protection Insurance. ^

Do I need to take out insurance on my loan?

It is recommended that you take out Income Protection Insurance on your loan, although not compulsory, it is designed to cover your lending obligations in the case of sickness, accident or death. Although you do not have to purchase your insurance through us, we do offer a range of insurance policies. Learn more about our Income Protection Insurance. ^

Do I need to take out insurance on my vehicle?

If Reliance has taken security over your vehicle, you will be required to have the vehicle comprehensively insured. We can offer a quote on your vehicle before purchase to make the loan process more efficient. Call us for a quote today on 13 24 40.^

Is a redraw facility available?

Reliance gives you the option of making extra repayments on your loan and then having the flexibility of being able to redraw on these extra repayments. You need to have your loan in advance by at least $110 and the minimum redraw is $100. This facility allows you to park extra funds on your loan, thus saving you interest and then redrawing them as required. See our Fees and Charges for Redraw fees. ^

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