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. What’s more, Great Southern Bank’s Unsecured Personal Loan took out an award in the 2024 Mozo Experts Choice Award for Excellent Credit Unsecured Personal Loan.
The Great Southern Bank fixed rate unsecured personal loan offers fixed interest rates which start at 7.49% p.a. (7.74% p.a. comparison rate*) and go up to 19.99% p.a. (20.27% p.a. comparison rate*) depending on the type of borrower you.
The loan comes with a minimum loan amount of $5,000 and a maximum of $65,000, as well as 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 are 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.
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.
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.
Fixed |
|
7.49% p.a.to 19.99% p.a. fixed |
|
7.74% p.a.to 20.27% p.a.based on $30,000 |
$175.00 |
|
$0.00 |
|
$0.00 |
|
$0.00 |
|
$0.00 |
$5,000.00 |
|
$75,000.00 |
|
1 Year |
|
7 Years |
|
Unsecured |
Debt consolidation, Home improvements, Medical, Travel, Weddings |
|
Weekly, Fortnightly, Monthly |
|
yes |
|
yes |
|
$200 minimum withdrawal amount applies for redraws conducted in-branch. |
|
Applications made in branch have loan amounts available from $3,000, the minimum loan amount for online applications is $5,000. |
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.
Have had multiple loans with CUA before they changes their name without notifying their customers. Have had terrible dealings trying to close out my account which was actually paid in full over 12 months prior. Apparently I hadn't called after making the final payment so the account remained open and interest grew. I received a 'new' final payout figure of $153.00 (Interest). I have not received a statement for over 12 months so had no idea I had monies owing. Turns out this is to 'save paper'. I'm all for saving the environment, don't get me wrong! When most banks go paperless they chose to send statements via email. When I paid this final amount the day I got the figure, it took 2.5 days to clear and now I owe 10c in interest. I'm not willing to make this 10c payment on principal and I've been placed on hold for 36 minutes and still waiting... I would suggest you avoid this joke of a bank at all costs!
Read full reviewHave had multiple loans with CUA before they changes their name without notifying their customers. Have had terrible dealings trying to close out my account which was actually paid in full over 12 months prior. Apparently I hadn't called after making the final payment so the account remained open and interest grew. I received a 'new' final payout figure of $153.00 (Interest). I have not received a statement for over 12 months so had no idea I had monies owing. Turns out this is to 'save paper'. I'm all for saving the environment, don't get me wrong! When most banks go paperless they chose to send statements via email. When I paid this final amount the day I got the figure, it took 2.5 days to clear and now I owe 10c in interest. I'm not willing to make this 10c payment on principal and I've been placed on hold for 36 minutes and still waiting... I would suggest you avoid this joke of a bank at all costs!
Very easy application process with real, genuine personalised service. Highly recommended,
Read full reviewVery easy application process with real, genuine personalised service. Highly recommended,
Honestly this was my worst lending experience. I work in the same field but applied for personal loan through these guys and this was by far the worst experience, reason being, I was asked 3 types of contracts 2 being my employment contracts, my home loan being 1 of them, home loan statement, and my acceptance letter, on top of my employment letter. I was asked for 3 payslips, and they wanted a loan approval letter for a loan I haven't got yet, this process took a week and half and they said dont proceed with the application if you don't have your future loan loan letter. Being in same line of work I found this to be the worst experience and un-logical, during the process I was told our policies are different to yours, asking for a document for something I don't have has nothing to do with policy.
Read full reviewHonestly this was my worst lending experience. I work in the same field but applied for personal loan through these guys and this was by far the worst experience, reason being, I was asked 3 types of contracts 2 being my employment contracts, my home loan being 1 of them, home loan statement, and my acceptance letter, on top of my employment letter. I was asked for 3 payslips, and they wanted a loan approval letter for a loan I haven't got yet, this process took a week and half and they said dont proceed with the application if you don't have your future loan loan letter. Being in same line of work I found this to be the worst experience and un-logical, during the process I was told our policies are different to yours, asking for a document for something I don't have has nothing to do with policy.
CUA is very helpful and are willing to look at other products which will work better for what we were looking to do. Their staff are all very helpful in each of the branches I have gone into. The only negative is they have shut down to many of the branches and ATMs.
Read full reviewCUA is very helpful and are willing to look at other products which will work better for what we were looking to do. Their staff are all very helpful in each of the branches I have gone into. The only negative is they have shut down to many of the branches and ATMs.
I have a full-time secure government job earning good money. Got conditional approval but when consultant called to confirm everything, I was instantly declined. It was more of an interrogation than chat and his accent was so bad I had to ask him to repeat nearly everything! Waste of credit check which has now dropped my score!
Read full reviewI have a full-time secure government job earning good money. Got conditional approval but when consultant called to confirm everything, I was instantly declined. It was more of an interrogation than chat and his accent was so bad I had to ask him to repeat nearly everything! Waste of credit check which has now dropped my score!
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Debt Consolidation
6.57% p.a.to 18.99% p.a.
7.19% p.a.to 19.39% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Clean Green Car Loan
7.29% p.a.
8.41% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Express Personal Loan
14.95% p.a.to 27.95% p.a.
29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
6.75% p.a.to 26.95% p.a.
6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
Unsecured Personal Loan
5.76% p.a.to 24.03% p.a.
6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
Low Rate Personal Loan
6.57% p.a.to 8.48% p.a.
7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
Debt Consolidation
5.76% p.a.to 24.03% p.a.
6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
Clean Green Car Loan
7.29% p.a.
8.41% p.a.
$8.00