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Mini meca 2022

G&C Mutual Bank Fair Rate Personal Loan (Variable, Secured)

Advertiser disclosure
Interest rate from
5.99% p.a.to 16.99% p.a.
Comparison rate from
6.20% p.a.to 17.22% p.a.based on $30,000
over 5 years
Upfront fee

Mozo editorial review G&C Mutual Bank Fair Rate Personal Loan (Variable, Secured) - last updated: 8 December 2021

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What's hot
  • 2022 Mozo Experts Choice Award winner
  • Rates start at 5.99% p.a. (6.20% p.a. comparison rate)
  • Redraw facility
What's not
  • $150 application fee
Mozo snapshot

With rates fixed as low as 5.99% (6.20% p.a. comparison rate*), it’s no surprise that the  G&C Mutual Bank Fair Rate Personal Loan received a 2022 Mozo Experts Choice Award. Loans are available from $1,000 to $150,000 with loan terms ranging from one to seven years. 

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Key features

An award-winning product, the G&C Mutual Bank Fair Rate Personal Loan comes with fixed interest rates as low as 5.99% p.a. (6.20% p.a. comparison rate*). Loans range from as little as $1,000 to as much as $150,000, and loan terms can be as short as one year or as long as seven years.

 Extra repayments are allowed, and there is no exit fee or penalty for paying off your loan early. So, if you have a little extra cash, you could be done with interest and repayments before you expected. That said, if you need to withdraw that cash, the loan does have a redraw facility. Plus, as an added convenience, you can also choose to make repayments weekly, fortnightly or monthly - whichever works best for you.

Although, it is worth keeping in mind that your credit history will determine how high your interest rate is with this loan. For instance, interest rates start competitively low at 5.99% p.a. (6.20% p.a. comparison rate*), but can go up to 16.99% p.a. (17.22% p.a. comparison rate*), depending on your credit score. Although there are no recurring fees, there is a $150 application fee. 

Who is it good for

This personal loan would be suitable for someone with an excellent credit history who can take advantage of the competitive interest rates on offer. It may also be suited to someone keen to make extra repayments and get rid of the loan early.

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Any catches

If you do not have a great credit score, this might not be the best loan for you, as you will likely be offered a higher interest rate. There is also a $150 application fee to budget for.

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Ava Crawford
Money writer

Ava Crawford is an experienced journalist, specialising in credit cards, personal loans and buy now pay later platforms here at Mozo. Ava has also produced digital content for Foxtel's LifeStyle and FOXArena, and has contributed to notable outlets such as The New York Times and ITV. She attended New York University and completed a degree in English and American Literature. She is also ASIC RG146 (Tier 2) certified for general advice.


Rates and fees information correct as at 29 June 2022. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.


5.99% p.a.variable

6.20% p.a.to 17.22% p.a.based on $30,000
over 5 years







Other financial bits



1 Year

7 Years

Other, Vehicle


Weekly, Fortnightly, Monthly



Interest rate varies according to VedaScore rating. Rates and fees shown are for an AA Rated borrower.


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.

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