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Australia’s largest customer-owned bank
Trusted by Australians for over 75 years
Secured and unsecured personal loans

Your loan, your way

$0 Monthly fees
Enjoy having a little extra money in your pocket.
Unlimited extra repayments
Pay your loan off sooner with unlimited fee-free extra repayments.
Flexible repayment options
Choose a repayment schedule to suit your income and budget.
Easy redraw
If unexpected costs arise, we’ve got your back. You can easily access your additional repayments any time for free!4
ABOUT US

Why choose Great Southern Bank?

For one thing, we're customer-owned. That means no shareholders, so all our profits go into creating new and clever ways to help you manage your money.

It also means we're able to focus squarely on our mission to empower ordinary Australians to reach their financial goals, whatever they may be.

We believe being owned by the people you help is a more transparent way of doing things and how all banks should work.

FEATURES
More reasons to choose us
Competitive interest rate
Giving our customers a great deal is what we do best. So, we focus our time and energy into giving you the best interest rate possible.
No penalties for early payout
Pay off your loan sooner without being charged a fee.
Same day decisions and funds6
It may be possible to have your loan approved and funded on the same day! See how it works.
Start bringing your dreams to life today.
Apply Now

Calculate your borrowing capacity

Rates and fees

Getting ahead on your finances shouldn’t cost you money. That’s why we don’t charge you for making extra repayments, paying your loan off early or unnecessary monthly fees.

Interest Rate

9.39
%
p.a.
Comparison rate2
9.64
%
p.a.

Fees

Monthly fee
$0
Early payout fee
$0
Establishment fee
$175
Total fees
$175
Start your application today
1. Apply online

It should take around 10 minutes. Simply check if you qualify and begin the application process.

2. Approvals

If approved, you will receive your loan contract to accept online. Your loan could be funded on the day you apply. See how it works.

3. Access your money

Your loan is paid into your Great Southern Bank Account.5 You can also view repayment details online and on our mobile banking app.

Apply now
WHAT OUR CUSTOMERS SAY

Trusted by Australians for over 75 years

We've been helping our customers manage their finances since 1946. These days, more than half a million people trust us with their banking and insurance needs.

But don't just take our word for it. Here's what some of them have got to say.

“I have always been treated with respect and dignity. This personal loan was so easy to apply and approved in only a few hours.”
Leo, NSW, Personal Loans customer
“High level of customer service, great interest rate, excellent website/apps and communication.”
Bradly, NSW, Personal Loans customer
“No dramas at all. Good rates and easy access to all needs online”
Darren, SA, Personal Loans customer
FAQS

Personal loans explained

What's the difference between a fixed rate and variable rate personal loan?

An Unsecured Fixed Personal Loan charges a fixed interest rate for the entire life of the loan. This means you’ll enjoy the certainty of always knowing how much your repayments will be. However, you won’t be able to take advantage should there be a decrease in the lending interest rates.

An Unsecured Variable Personal Loan charges an interest rate that is subject to change. This means you could enjoy a lower rate, should the lending rates change. However, you could incur a higher interest rate if the lending rates increase

What is a comparison rate?

A comparison rate encompasses the true cost of the loan, which includes the interest rate plus all the relevant fees and charges for a loan.

Can we apply for a joint personal loan?

Yes, we do support joint personal loan applications. The same process applies.

Can I make additional repayments?

Yes, you can make additional repayments on your loan without attracting a fee.

Can I change my repayment frequency to weekly or fortnightly instead of monthly?

Yes. Weekly or fortnightly repayments can be changed to monthly. However, monthly repayments cannot be changed. In this case, you can easily set up Periodical Payments on a weekly or fortnightly basis to meet your monthly repayment.

Can I top up my loan?

Yes. Customers can apply for additional funds on their existing Unsecured Personal Loan by refinancing their current loan into a new loan. We don’t charge early payout fees for this facility.

How does same day decision and funding work?

It may be possible to have your loan approved and funded on same day! To be eligible, submit your application online before 11am AEST Monday to Friday (excluding public holidays), provide all required information and documents upfront, and accept the loan contract by 2pm. Payment of funds same day maybe unavailable if your application is referred for more detailed assessment. Subject to system availability. Time to receive funds may be affected by your bank's clearance times. Lending criteria applies.

Ready to apply?
Start your personal loan application today.
Apply Now
Important Information

Rates current as at 29 July 2022 and subject to change.

Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions and fees apply. Applications are subject to credit approval.

1. Comparison rate accurate for $30,000 secured loan over 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

2. Comparison rate accurate for $30,000 unsecured loan over 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

3. $3,000 minimum loan amount in branch, $5,000 minimum loan amount online. Available loan term is 1 to 7 years.

4. A $200 minimum withdrawal amount applies for redraws conducted in-branch. Redraw facility is available for Great Southern Bank Personal Loan products on offer from 6 June 2017.

5. You will need to hold a Great Southern Bank everyday account when the loan is funded.

6Same day decision & funding: How it works

It may be possible to have your loan approved and funded on the same day! To be eligible you must submit your application online before 11am AEST Monday to Friday (excluding public holidays), provide all required information and documents upfront, and accept the loan contract by 2pm. Payment of funds same day is unavailable if your application is referred for more detailed assessment. Subject to system availability. Time to receive funds may be affected by your bank’s clearance times. Lending criteria applies.

Eligibility criteria

Applicants must be:

  • At least 18 years of age
  • A permanent resident of Australia
  • Have had no bankruptcy, insolvency in the last 5 years.

You will need:

  • Proof of Identity (such as a drivers licence).
  • Employment and income details (such as a payslip).
  • Expenses, assets and debt details.
  • Existing Great Southern Bank member number (If you're already a member).