Unsecured Variable Rate

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Unsecured Variable Personal Loan

Features & benefits Calculators Rates & fees How to apply

Why choose an Unsecured Variable Personal Loan

With a variable personal loan, you’ll get a competitive rate and the flexibility to make extra repayments to help you pay your loan off sooner.

Our easy redraw facility means that you can access your additional payments should life happen, and you need to free up your cash flow. Too easy!

Features & benefits

$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.

Flexible repayment options

Choose to make either monthly, fortnightly or weekly repayments to suit your income and budget.

No penalties for early payout

Pay off your loan sooner without being charged a fee.

Easy access to funds with redraw

Enjoy access to your additional repayments with redraw, so you can use it whenever unexpected costs arise. ⁷

¹ Same 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.

CALCULATOR

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

11.89

p.a.

Comparison rate³

12.15

p.a.

Fees

Monthly fee

Early payout fee

Establishment fee

$175

Total fees

$175

Not sure if this is the right loan for you?

We can help you pick the right one to suit your needs.

Help me choose

Apply online

Ready to apply? You can apply online today

Apply now

Is this product right for me?

The process

1. Check your eligibility

There are a few eligibility requirements you should be aware of before applying for a Great Southern Bank Personal Loan.

2. Apply online

It should take about 20 minutes. You will need proof of ID and all current financial information.

3. Approvals

If approved, you will receive your loan contract to accept online.

4. Access your money

Your loan is paid into your Great Southern Bank account.⁸
You can also view repayment details online and on our mobile banking app.

Eligibility

You must be at least 18 years of age
Be a permanent resident of Australia
Receive a regular income
Have not been bankrupt or insolvent in the last five years

What will you need:

An email address and contact number
Existing Great Southern Bank member number (If you're already a member)
Australian driver's licence, Medicare or passport details
Employment and income details
Details of your assets, expenses and liabilities

Apply now

Is this product right for me?

Get in touch

More ways to apply for a Great Southern Bank personal loan

Call 133 282

Mon - Fri: 8:00am - 8:00pm (AEDT)
Sat: 8:00am - 4:00pm (AEDT)

Find a branch

Speak to one of our friendly staff at a branch near you.

Connect online

Chat to us or browse help topics and FAQs.

Learn more about personal loans

Handy tips to help you find the loan that's right for you

Applying for a personal loan – what’s the process?

Do you need some money for personal reasons? A trip? Some renovations at home? How do you go about getting a personal loan? We can help.

What’s the difference between the interest rate and comparison rate?

Knowing the difference between the interest rate and comparison rate on a loan means making a fully informed decision is that bit easier.

Secured versus unsecured personal loan

What's the difference between a secured and unsecured personal loan and what should you consider when choosing between the two?

Important Information

Rates current as at 18 November 2021 and subject to change. Loan term for a Great Southern Bank Personal Loan ranges from 1 to 7 years. Your loan contract will state the minimum monthly repayment amount. You can arrange with us to make repayments on a weekly or fortnightly basis.

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.

3. Comparison rate calculated on a loan amount of $30,000 over a term of 5 years based on monthly repayments. Rates are for unsecured loans only. 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.

6. $1,000 minimum loan amount and $100,000 maximum loan amount available in branch. $5,000 minimum loan amount and $60,000 maximum loan amount available online. Available loan term is 1 to 7 years.

7. 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.

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

To view the Target Market Determination for this product, please click here.