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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 fee-free extra repayments.
No penalties for early payout
Want to pay off your loan early? No worries! You won't be charged a fee.

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.

More reasons to choose us
Redraw extra repayments for free

Enjoy access to your additional repayments with free redraw, so you can use it whenever unexpected costs arise.4

Flexible repayment options

Choose from a weekly, fortnightly, or monthly repayment schedule to suit your income and budget.

Same day decision 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.

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

Comparison rate2


Monthly fee
Early payout fee
Establishment fee
Total fees
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.

Prefer to talk to someone?

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.”
“High level of customer service, great interest rate, excellent website/apps and communication.”
“No dramas at all. Good rates and easy access to all needs online”

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 of decreases 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?

The comparison rate reflects the true cost of a loan. The comparison rate is the interest rate plus all the relevant fees and charges for a loan, such as establishment fees or early payout costs. The comparison rate is calculated as a percentage and you’ll find it displayed next to the interest rate.

Top tip: When comparing interest rates, look for the comparison rate. Also compare fees if you think you'll pay your personal loan off quickly or need a longer repayment term. Our Personal Loan Specialists are also here to help and answer your questions.

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 being charged.

Can I change my repayment frequency?

Our personal loans have a monthly repayment schedule. However, if you prefer to pay on a weekly or fortnightly basis you can easily set up a regular payment in online banking to meet your monthly repayment.

If you have an existing loan with a weekly or fortnightly repayment schedule, you can select to change your payments to monthly in online banking. You can also call us on 133 282 or visit your local branch.

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?
Get started online now.
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Important Information

Loans are issued by 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.

Rates current as at 11 August 2022 and subject to change.

Your loan contract will state the minimum monthly repayment amount. You can arrange with us to make repayments on a weekly or fortnightly basis.

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 and $100,000 maximum loan amount available in branch. $5,000 minimum loan amount and $75,000 maximum loan amount available 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.