Electric Car Loans
Save the planet, the bees, and some money with a $0 monthly account fee on our personal loan.
A personal loan for an electric car lets you drive away in a high-tech vehicle while taking the pressure off the planet. And, with a $0 monthly account fee and no penalties for early payout, our personal loans can help you save some money too.
A number of subsidies and rebates are available when buying an electric car.
An electric car loan is a personal loan that’s used to buy, you guessed it, an electric vehicle. You can apply online at any time. Once approved, you can use the funds to buy the fully electric or hybrid car of your choice.
You’ll then pay the loan off in an easy-to-manage and flexible repayment schedule. It’s that simple.
Whether you’re keen to get behind the wheel of a brand-new Tesla, or simply want a low-emission car sooner rather than later, going green may be easier and cheaper than you think.
Designed to help you pay your loan off sooner, our loans come with:
Buying an electric car can save you money in fuel and car maintenance costs. Add in a great driving experience and it’s easy to see why it’s a win-win for you and the earth.
If you’d like to know more, check out our handy guide to switching to an electric vehicle.
At Great Southern Bank, we’re proud to be carbon neutral and we’re committed to helping everyday Australians live more sustainably too.
Transport in Australia is estimated to be the third largest source of carbon emissions, so, if you’re looking to transition to an electric or hybrid car, we’re here to help. (Source: Climate Council )
Looking for something else? If it’s not on the list don’t worry, you can still apply. We're also on live chat if you have any questions.
Electric vehicles are expected to match petrol vehicles on both upfront price and range by the mid 2020’s. More Australians are predicted to go electric as more models and infrastructure is rolled out. (Source: Australian Renewable Energy Agency (ARENA))
Estimate your repayments and find your loan today.
We have a long history of working with our customers and communities to address social issues.
That means no shareholders. Our profits go back into new products and clever ways to help you manage your money.
Get a detailed look into the features across all of our personal loans. Compare personal loans
Got a question? Find the answers in easy-to-understand terms here.
Customers buying fully electric or hybrid vehicles can choose between a secured fixed car loan or an unsecured loan with a fixed or variable rate.
When you take out a fixed rate loan:
When you take out a variable rate loan:
Yes. Your loan contract will be set up for monthly repayments initially, but if you prefer to pay in weekly or fortnightly instalments simply call us on 133 282 or visit your local branch and we can arrange this for you.
The Electric Vehicle Council provides a map of charging stations across Australia. You may find this useful for finding charging stations in your local area and when planning longer journeys.
Each state and territory in Australia offers an incentive for purchasing an electric vehicle. These incentives can include rebates, charging subsidies and discounts on registration and stamp duty. To find out if you're eligible, check with your relevant state government department or get started with the helpful links below.
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 22 June 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 You will need to hold a Great Southern Bank everyday account when the loan is funded.
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 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.
4 $3,000 minimum loan amount in branch, $5,000 minimum loan amount online. Available loan term is 1 to 7 years.
5 $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.
6 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.
7 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
A redraw facility lets you make additional repayments (on top of your minimum loan repayments) into your personal loan account. In the event of an emergency, these extra funds can be quickly redrawn for free.
Unsecured Fixed Personal Loan and Unsecured Variable Personal Loan
To be eligible for same day funding, you must:
1. Submit your application online before 11am AEST Monday to Friday (excluding public holidays),
2.Provide all required information and documents upfront, and
3.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.
Secured Fixed Car Loan
To be eligible for same day funding, you must accept your loan contract by 2pm AEST Monday to Friday (excluding public holidays) and we'll issue your funds the same day (subject to system availability). The time it takes to receive your funds may be affected by your bank clearance times.