Upgrade your wheels

Upgrade your bicycle with a 'FreeWheel' bike loan* from Transport Mutual

You can now upgrade or purchase a new bike courtesy of our Freewheel Bicycle Loan.

This loan comes with these great features and benefits:

·             - 0% Interest and comparison rate!! For the life of the loan!
·             - Loan Term up to 2 years
·             - No establishment fees
·             - No account keeping fees
·             - No penalties for extra repayments or early payout.
·             - Minimum loan amount is $1,000, maximum is $10,000
·             - Loan for new bicycles only and
·             - Funded directly to a retail bike shop within Australia only. No online purchases

Criteria & FAQ

Eligibility Criteria – strict conditions apply, see below:

Eligible applicants must - 

- be an Australian citizen or permanent resident
- have excellent credit history
- have minimum 12 months full time employment
- have minimum 12 months at current residence
This loan is not eligible to applicants who are Self Employed or in part time or casual employment

How do I apply?

You can apply online through our website (click on apply button below); once you have applied you will receive an acknowledgement email by the following business day.


What documents are required to assess the loan?

You will need to provide the following:

- Last 3 payslips
- Latest credit card statement (if applicable)
- Latest home loan statement (if applicable)
- Tenancy ledger or agreement (if applicable)
- Last 3 months everyday bank account statement
- Latest statement of any additional car loans or personal loans


How long does the assessment process take?
Due to the high demand on this product it can take up to 3 weeks to get an answer on your application. We will be in contact with you throughout this process.


What happens after I am approved?

Once your loan has been approved we will require a copy of the invoice of the bike you are going to purchase. This will have to include the serial number of the bicycle and the bank account details of the bicycle shop.


Does the approval have an expiry date?

Your loan approval is valid for 3 months


Do I need to provide anything else?

We will also require you to become a Member of the Credit Union; you will need to provide copies of your Drivers Licence and Medicare card certified by a registered Justice of the Peace.


How do I make repayments on my loan?

Once the loan has been funded you will be provided with a BSB and Account number to transfer the money into or you can direct your pay to the Credit Union.


I've paid out my bike loan, and I now want another one, can I reapply?

This special offer is limited to 1 per member. We can give you another bike loan but it won't be interest free. 


What happens if I miss a loan repayment?

You should contact us immediately if you cannot make the agreed repayment on your loan.  If you do not contact us and your loan falls into arrears, you may incur the following Enforcement Costs:

-  $10 for the first reminder up to 7 days in arrears
-  $25 for the subsequent reminders
-  In the event of further Legal action you will charged at cost


To apply now, click here       



Transport Mutual Credit Union Limited | ABN: 78 087 650 600 | AFSL/Australian Credit Licence 240718