ANZ personal loans

3.4
Based on 1,206 ANZ personal loan product review.
Fact Checked

ANZ Bank is one of Australia’s Big Four banks and provides personal finance products to more than 8.5 million customers. The company has a proud heritage dating back 196 years and operates in close to 30 markets globally, including across Asia, Europe, America and the Middle East. 

ANZ offers two types of unsecured personal loans in the range of $5,000 to $50,000, fixed and variable. Both the ANZ Fixed Rate Loan and ANZ Variable Rate Loan can be used for a specific purpose, such as consolidating debt or a big purchase like buying a new or used car.

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Editor’s review: ANZ’s Unsecured Personal Loan (Variable)

Unsecured Personal Loan

  • Variable
Interest rate from
7.49 % p.a.
to
19.99 % p.a.
Comparison rate from
8.18 % p.a.
to
20.58 % p.a.
Based on $30,000 over 5 years
Upfront fee
$0
No Partner link
  • Competitive interest rates starting at 7.49% p.a.

  • Additional repayments allowed

  • Redraw any extra money paid, without additional costs

  • $150 approval fee (unless waived in special offer)

  • $10 monthly service fee

  • $20 late payment fee

Our verdict

ANZ’s Unsecured Personal Loan (Variable) is available to borrowers from $5,000 to $50,000 over terms of 1 to 7 years, and starts at 7.49% p.a. interest rate, up to 19.99% p.a. at the higher end.* The loan range is fairly standard, though some other personal loans allow for amounts below $5,000.

Your interest rate will be based on a number of factors, including your income, credit history, the personal finance information you provide and the bank’s assessment of your application.

Notably, the upfront loan approval fee of $150 can be waived (at the time of writing), but to be eligible for this waiver offer^, a customer must meet ANZ’s specific criteria which can be found on its website.

ANZ also allows you to make additional repayments on its variable rate loan without any extra cost, which is highly beneficial to a borrower in a position to pay their loan off faster. And if you need to, ANZ allows additional payments to be redrawn without penalty. 

Overall this personal loan offers a competitive interest rate, relative to similar loans in the Mozo Database, is flexible and covers small loan needs of just a few thousand up to larger expenses of up to $50,000. It does however come with a $150 application fee (unless waived), a $10 monthly fee, as well as a $20 late payment fee, which all need to be considered. 

*This equates to comparison rates of 8.18% p.a. to 20.58% p.a., based on $30,000 over 5 years.

^This deal also has a $250 cashback offer included. Please check the ANZ personal loans site for more.

Where to get it: Apply with ANZ online or in person at a branch.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more personal loans here.
Last updated 11 December 2024 Important disclosures and comparison rate warning*

ANZ personal loans

  • Unsecured Personal Loan

    • Variable
    Interest rate from
    7.49 % p.a.
    to
    19.99 % p.a.
    Comparison rate from
    8.18 % p.a.
    to
    20.58 % p.a.
    Based on $30,000 over 5 years
    Upfront fee
    $0
    No Partner link

  • Unsecured Personal Loan

    • Fixed
    Interest rate from
    7.49 % p.a.
    to
    19.99 % p.a.
    Comparison rate from
    8.18 % p.a.
    to
    20.58 % p.a.
    Based on $30,000 over 5 years
    Upfront fee
    $0
    No Partner link

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ANZ personal loan ratings

Overall customer rating for ANZ personal loans

3.4
Based on 1,206 product review.

Customer reviews

Important disclosures

ANZ Personal Loans FAQs

How long does ANZ take to approve a personal loan?

In branch applicants can receive their money on the same day, provided all of ANZ’s criteria for the loan is met.

What is ANZ’s waiver fee and cashback offer?

To be eligible for ANZ’s $150 Loan Approval Fee waiver and $250 cashback offer, a customer must:

(a) Apply for a new ANZ Personal Loan , or apply for an increase to their current ANZ Personal Loan.

(b) Apply between October 16 2024 and 31 January 2025.

(c) Draw down funds.

If a customer closes their ANZ Personal Loan account or nominated transaction account before the cashback payment is paid, they will be ineligible for the $250 cashback.

Is it easy to get a $5,000 personal loan?

If you have a good credit score, a steady income and minimal debts and even some money saved, getting a $5,000 loan should be within your reach.

How much would a $15,000 loan cost per month?

According to the Mozo personal loans calculator, a $15,000 with an interest rate of 10.35% p.a. paid over three years would cost you $436 per month.

The total interest paid on this loan would amount to $2,513.

Which bank is best for a personal loan?

There are a number of top personal loans on the market, including Mozo Experts Choice Awards winners, which are chosen based on their attractive interest rates, low fees and flexibility. Your decision of which is best for your needs, should factor in these important aspects of the loan.

Personal loan quick links

ANZ products


* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.