ANZ personal loans

ANZ's overall rating for personal loans

(as rated by the Mozo community)

6.9 / 10

based on 1164 reviews

As one of the big four banks in Australia and with a history dating back over 180 years, ANZ is a popular choice for Aussie borrowers.

If you decide to take out a personal loan through this major player, you’ll get your choice of either a fixed or variable rate and if you’re borrowing for the sole purpose of buying some new wheels, there’s also secured or unsecured car loan options available too. With any of ANZ’s personal loan offerings, you could gain a nice interest rate discount of 0.25% if you also take out ANZ Loan Protection.
Let’s get to know each option better...

ANZ offers the following personal loans

Rates and fees verified as correct at 04 July, 2020. Other information correct at the time of writing.

Product Interest rate from Comparison rate from* Upfront fee  

12.45% p.a.

13.32% p.a.based on $30,000
over 5 years


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15.99% p.a.

16.84% p.a.based on $30,000
over 5 years


Go to site

*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. WARNING: 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.

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What personal loans do ANZ offer?

Fixed Rate Personal Loans

Do you like repayment consistency? Then a personal loan with a fixed interest rate could be a good choice for you. ANZ’s fixed rate option is available with its unsecured personal loan, which allows you to borrow between $1,000 and $75,000 over a term of 1-7 years. The fixed rate loan comes with a range of flexible features like your choice of repayments either weekly, fortnightly or monthly and an extra repayments facility. But keep in mind no redraw facility is available with the fixed rate option. While you’ll benefit from always knowing what your repayments will be, if you try to pay off your loan early by making additional payments you’ll incur an early repayment penalty (otherwise known as a breakcost fee). Other fees that you’ll need to budget for include an upfront fee when you apply for the loan and a small ongoing fee that is charged each month over the term of the loan.

Variable Rate Personal Loans

Are you on the hunt for a personal loan that provides you with a bit of wiggle room in the form of flexible features? Then your best bet may just be the variable rate option offered by ANZ with its unsecured personal loan. You can set up your repayments to suit your payday with weekly, fortnightly and monthly repayments available, can pump extra into your loan thanks to the extra repayments facility and can dip into those additional payments through the redraw facility. Yep, that’s what we call flexible! Just like the fixed rate option you’ll also have the choice of selecting a personal loan amount between $1,000-$75,000 with a loan period between 1-7 years. If you do decide to go for the variable rate option from ANZ, don’t forget to budget for the application fee and ongoing service fee and keep in mind if you pay out the loan in the first year an early repayment fee may apply.

Car Loans

With ANZ you have two main options when it comes to taking out a car loan - an online secured car loan with a fixed interest rate or an unsecured car loan with your choice of either a fixed or variable interest rate. With the secured option you’ll have to put the car you’re using up as security for the loan and in return you’ll receive a competitive fixed interest rate. If you don’t feel comfortable with your new car being used as collateral for the loan, the unsecured car loan will give you this peace of mind, but remember you will still be liable to repay the loan and the interest rate will be significantly higher. With both options you can make extra repayments on your loan but will have to budget for the cost of upfront and ongoing fees that apply.

ANZ personal loan features at a glance

Repayment flexibility: All of ANZ’s personal loans allow you to choose when you will repay your loan e.g weekly, fortnightly or monthly. This is a good feature when you consider some personal loans only allow you to set up your repayments monthly.

Extra repayments facility: Whether you go for a fixed or variable rate ANZ loan you’ll have the flexibility to make additional payments on your loan, which will help you pay down your loan sooner. But keep in mind early repayment fees may apply with the fixed rate loan and the variable rate option (in the first year).

Redraw facility: ANZ's variable rate loans give you the freedom to draw upon any additional or lump sum payments you have made on your personal loan to pay for unexpected costs down the track.

Discounted loan protection: When you take out an ANZ personal loan and choose ANZ Loan Protection, you may receive a discount of 0.25%, potentially saving you big bucks in interest over the life of the loan.

How are ANZ personal loan products rated?

Not sure if an ANZ personal loan is the right option for you? Get the lowdown from customers just like you by reading reviews of ANZ’s personal loans here.

How do you apply for an ANZ personal loan?

When you have decided on an ANZ loan that ticks the boxes for you, you can begin your application online by providing the major bank with the following details:

  1. Details of your income and any other financial commitments
  2. Driver’s licence
  3. If you’re already a current customer, your ANZ account number or Customer Registration Number

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