repayments
The calculations provided are estimates only and are based upon the information entered by the user. The calculations do not include upfront or continuing credit fees and charges and do not constitute a loan application or variation to an existing facility, loan offer or loan approval.
Your contracted personal loan repayments will be set to a monthly frequency, meaning you will need to meet the agreed repayment amount by the due date stated on your loan contract each month. To meet this minimum monthly amount, you can however make repayments weekly or fortnightly.
A secured loan is 'secured' against the asset you are borrowing for, such as a car. If you are unable to repay the loan, the lender can sell the asset to cover the costs of the loan.
An unsecured personal loan is a loan that does not require an asset as security. Your income and ability to repay the loan is still assessed, however you don't need an asset to secure the loan.
Your credit score is a number used by lenders to assess how likely you are to repay a loan. Your score is based on the information in your credit report, including:
- How you've managed previous loan and credit card repayments.
- How many loan applications you've made in the past.
- The age of your credit file.
Learn more with our guide to Understanding our personal loan interest rates.
Unsecured Fixed Personal Loan
An ideal loan for many purposes, such as debt consolidation, home improvements, new or used cars and motorbikes of any age, boats, caravan and more.
Secured Fixed Car Loan
For buying or refinancing a new or used car or motorbike up to seven years old.
Green Car Loan
For buying or refinancing an electric or hybrid car up to seven years old.
Unsecured Green Personal Loan
For eligible green purchases, including solar panels, battery packs, solar hot water systems and hot water heat pump systems.
- A personalised interest rate.
- $0 monthly account fee.
- Fee-free extra repayments.
- No penalties for early payout.
- Free redraw – in case you need your additional repayments.3
A personalised interest rate is an interest rate based on an assessment of your credit score. If you have an excellent credit score and a good history of repaying loans, credit cards and other bills, you’ll likely be offered a lower interest rate.
When you apply for a personal loan your individual situation and your credit score will be considered when calculating your personalised interest rate.
Learn more with our guide to understanding our personal loan interest rates.
A secured loan is 'secured' against the asset you are borrowing for such as a car, or home. If you are unable to repay the loan, the lender can sell the asset to cover the costs of the loan. Most secured personal loans have a lower interest rate when compared to an unsecured personal loan because there is an asset attached.
An unsecured personal loan is a loan that does not require an asset as security. Your income and ability to repay the loan is still assessed, however you don't need an asset to secure the loan.
If you’re buying a green vehicle under seven years old, a Great Southern Bank Green Car Loan may be right for you.
If a vehicle does not meet the green car eligibility criteria, you may be interested in a Secured Fixed Car Loan or an Unsecured Fixed Personal Loan if you’re buying a car older than seven years.
A balloon payment is a final lump-sum that’s paid at the end of your loan. It’s a percentage of the car’s purchase price and is paid in addition to your regular repayments and fees.
A balloon payment may lower your monthly repayment amount, but it’s important to note that balloon payments accumulate interest. You’ll also have to set some money aside to make the balloon payment. Don’t forget to calculate the full cost to avoid paying more in the long term.
Our car loans have no balloon payment; but we still recommend comparing car loans to find the one that’s right for you. Got a question? Drop us a message on Live Chat, we’re here to help.
The term “car finance” describes the different ways you can borrow money to buy a car. You may also know this as a car loan.
If you want to buy a car, but don’t have the money to pay the ticket price upfront, car finance allows you to borrow the amount you need. Then pay it off in smaller flexible repayments.
It’s important to note that car loans attract interest on top of your regular repayments. This is essentially the cost of taking out the loan. The interest rate will vary between lenders, so it pays to compare.
When you apply for a car loan your income and expenses will be assessed to ensure you can pay off the loan. Then you’ll receive the funds in your bank account to buy your new set of wheels – it’s that simple!
Buying a car is exciting, but it also comes with a few ongoing costs to keep your car on the road. In addition to your:
- Petrol
- Regular servicing (approx. every 6 months)
- Car Insurance
- Set aside some savings for emergency repairs - better to be safe than sorry.
Maintaining your car not only keeps your car safe and reliable, but it can also save you money on bigger repairs further down the track. And avoid the inconvenience of having to get around while your car is at the mechanic.
Simply request a free copy of your credit report from Equifax (previously known as Veda).
Checking your credit score can also help you estimate what your personalised rate will be before you apply.
Competitive personal loan rates for new and used cars.
Get on the road fast with a loan for a used car.
A clever way to get a better deal.
Get a great personalised rate for an electric or hybrid vehicle.
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 7 March 2024 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 examples are accurate for a personal loan amount of $30,000 secured loan over a term of 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 examples are accurate for a personal loan amount of $30,000 unsecured loan over a term of 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. 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.
*The rate you are offered is calculated based on your personal circumstances and credit history. A few different factors are considered, including:
- Your credit score.
- Information provided in your application.
- Existing loans.
- The loan amount and your perceived ability to repay the loan.
Your personalised rate won’t be confirmed until you receive an offer from us (if approved) and is subject change before your loan settles.
Your application ID is in the confirmation email we sent from loanapplication@gsb.com.au. For help, call us on 133 282.