ANZ Unsecured Personal Loan

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Need to borrow some money for that Thai resort holiday, new Ducati or Vegas wedding and don't have property or assets to help put down as security? You've got two options with an unsecured personal loan from ANZ - either opt for a variable or a fixed interest rate. On top of the interest rate, there's an ongoing fee which will add to your costs so try to pay off the loan in the least amount of time as possible for your budget.

Key features

The ANZ unsecured loan gives you the choice of a variable or fixed interest rate. What's better will really depend on your money management comfort level. Do you just want to pay a fixed amount each month and be done, or do you want more flexibility so that you can pay off your loan faster and save on interest costs?

Both loans have a $5000 minimum loan amount and $50,000 maximum loan amount and give you the option to choose your repayment term from 1 - 7 years. 

What you get with the variable rate option:

• 15.99% interest rate (16.84% comparison rate*)
  
• Free extra repayments
• $0 redraw fee
• No fee for paying off the loan early

What you get with the fixed rate:

• 12.45% interest rate (13.32% comparison rate*)
• Set monthly repayments
• Free extra repayments
• Loan term up to 7 years

Who is it good for

The ANZ unsecured loan is a good choice for anyone looking to borrow some cash to help them pay for something that they need now or very soon - like a holiday or updated kitchen - without having to worry about putting an asset like their house or car up as collateral. 

Any catches

Keep in mind, with the fixed interest rate version, there's no redraw facility available. So once you've made those extra repayments, they are locked into the loan for good. With the fixed rate loan, if you pay off your loan early, you'll also have to factor in a $300 admin fee and other potential early repayment costs.