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Great Southern Bank Unsecured Personal Loan (Fixed)

Advertiser disclosure
Interest rate from
9.39% p.a.
Comparison rate from
9.64% p.a.based on $30,000
over 5 years
Upfront fee
$175
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Mozo editorial review Great Southern Bank Unsecured Personal Loan (Fixed)

Last updated: 1 June 2021.

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What's hot
  • Flexible repayment schedule
  • Free extra repayments and redraw facility
  • No ongoing fees
What's not
  • $175 application fee
  • $200 minimum redraw in-branch
Mozo snapshot

If you love flexibility, then the Great Southern Bank Unsecured Personal Loan might be the one for you, as it offers borrowers the ability to choose their own repayment schedule, make free extra repayments and access to a redraw facility. With this loan, you also won't have to worry about any ongoing, exit or early payout fees. 

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Key features

The Great Southern Bank fixed rate unsecured personal loan has a 9.39% fixed interest rate (9.64% comparison rate*) for a loan between $5,000 - $50,000 with a $175 application fee.

For this loan, you'll find yourself free of any ongoing fees, only needing to repay interest.

To help fit your repayments into your budget, you're able to choose between weekly, fortnightly or monthly repayments. Furthermore, you can choose to have your loan period be anywhere between 1-7 years.

There is no penalties for extra repayments, so if you come into some money down the line, you could pay off your loan a lot quicker and save on interest payments. But keep in mind that for any redraws of those extra repayments you make in-branch, a $200 minimum withdrawal amount applies. 

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Who is it good for

You must be over 18 and an Australian permanent resident to be eligible for this loan. So, it could be a suitable option for anyone who fits that criteria, doesn't have assets to secure a loan against, and is looking for a competitive unsecured personal loan with flexible features and minimal fees. 

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Any catches

Because this loan is unsecured, it does have a higher interest rate than a secured loan. 

While extra repayments are allowed and are free, there is a minimum withdrawal amount of $200 to use the free redraw option in-branch, should you wish to access that cash at a later point in time. 

Details

Rates and fees information correct as at 22 June 2021. 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.
Rates
  • Fixed

  • 9.39% p.a. fixed

  • 9.64% p.a.based on $30,000
    over 5 years

Fees
  • $175.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • $50,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • $200 minimum withdrawal amount applies for redraws conducted in-branch.

  • none

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.

Customer Reviews

How are Great Southern Bank personal loans rated by the Mozo community?

Overall
8.1/10
Price
7.9/10
Features
7.4/10
Customer service
8.2/10
Convenience
7.8/10
Trust
8.2/10

Latest reviews of Great Southern Bank Unsecured Personal Loan (Fixed)

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About Great Southern Bank

Great Southern Bank (formerly CUA) is Australia's largest credit union and an alternative to the big banks, offering financial, health and insurance solutions to over 500,000 Aussies. As a mutual, it's run by members for members, and reinvests in making its service better for customers and supporting local communities. Great Southern Bank is committed to helping members through life's big changes, so if you want to make a change for the better, check out Great Southern Bank's range of home loans, personal loans, credit cards, savings accounts and more.

See Great Southern Bank personal loans