| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| New Car Loan (Fixed, Secured) |
5.99% p.a. |
6.37% p.a.based on $30,000 |
$275.00 |
| Secured Personal Loan (Fixed) |
6.78% p.a. |
7.17% p.a.based on $30,000 |
$275.00 |
| Unsecured Personal Loan (Fixed) |
8.99% p.a. |
9.38% p.a.based on $30,000 |
$275.00 |
Yes, if you don’t want interest rate changes to affect you negatively while you’re paying off your loan. On the other hand, because fixed rates cannot change during loan terms, there’s no chance of the rate dropping and you paying less in interest. On the plus side, Greater Bank has attached some of the lowest fixed rates to its car loans in the market!
You can opt for a Greater Bank unsecured loan, which involves being charged at a higher interest rate than its new car loan and secured loan. One benefit to this is not having to sign the paperwork that goes along with securing your car.
Another key difference to keep in mind, is that Greater’s secured and unsecured loans have different borrowing limits. More on this below.
Yes, if you take out a new car loan or secured personal loan to fund your vehicle, the loan minimum is $5k and maximum $100k. Alternatively, unsecured loans are limited to $50k.
Like many car loans in the market, you’re free to choose between weekly, fortnightly or monthly loan repayment dates. Might sound trivial, but choosing the right frequency can really make paying off your loan easier (like the week you get paid for instance).
Your car loan term can vary, as it comes down to a period that you and Greater agree upon. Generally speaking, secured loans range between 1-7 years, whereas the unsecured version can be up to 5.
Certainly, all Greater car loans allow you to make extra repayments, so if you have the cash and want to pay less interest, then go for it!
There are none. Some providers can charge borrowers quite a bit for repaying their loan before the final due date, so this is a big plus if you don’t want to wait around for the term to end.
There sure is. And if you’re wondering what a redraw facility is, it’s simply a feature that gives you access to any extra loan repayments you’ve made. With Greater, redrawing funds online is free, unless you do it at a branch.
It goes without saying that the Greater Bank “new car loan” isn’t, where you secure your new ride to the loan as security for a low rate. But if you have collateral to offer up as security instead, you could take out a regular secured loan to finance a used car.
Otherwise, the Greater Bank unsecured loan could be the way to go for funding your second-hand ride. It has a higher fixed rate than the other two mentioned above.
Potentially, if you fall behind on your car loan repayments, or worse, default on the loan. To avoid this happening, set up direct debit payments and only commit to a loan you can afford to repay.
Oh that’s easy, just get all your details ready to include first, such as:
Next, visit a Greater Bank branch in person, give them a call, or head to the official website to submit an application. Greater will let you know of the car loan outcome within days.
Mozo users have rated Greater Bank car loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
14 Reviews
I recently applied for a car loan through the Greater bank. They were professional courteous and professional. They promptly returned calls and guided me through the whole process making it stress free and simple. I cannot recommend their excellent service highly enough. I was able to apply on line and they were in constant contact with me guiding me through the application process and did not make me feel stupid fir asking frequent questions. Once the loan was approved I was able to meet one on one and the loans officer explained all the finer details in language I could understand. They were prompt and delivered on all the deadlines. They even spoke directly with the car salesman on my behalf, which as a single female I was so grateful for. I really cannot fault them. Amazing service.
Read full reviewI recently applied for a car loan through the Greater bank. They were professional courteous and professional. They promptly returned calls and guided me through the whole process making it stress free and simple. I cannot recommend their excellent service highly enough. I was able to apply on line and they were in constant contact with me guiding me through the application process and did not make me feel stupid fir asking frequent questions. Once the loan was approved I was able to meet one on one and the loans officer explained all the finer details in language I could understand. They were prompt and delivered on all the deadlines. They even spoke directly with the car salesman on my behalf, which as a single female I was so grateful for. I really cannot fault them. Amazing service.
Pros: Great personal customer service, an old fashioned meeting with the Bank Manager, a conversation about why you want the loan, helpful information and advice about the best options the Bank can offer and a friendly phone call from the same Manager to advise that the loan has been approved and is in your account. Cons: None that I can think of!
Read full reviewPros: Great personal customer service, an old fashioned meeting with the Bank Manager, a conversation about why you want the loan, helpful information and advice about the best options the Bank can offer and a friendly phone call from the same Manager to advise that the loan has been approved and is in your account. Cons: None that I can think of!