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Great Southern Bank Unsecured Personal Loan (Variable)

Advertiser disclosure
Interest rate from
11.89% p.a.
Comparison rate from
12.15% p.a.based on $30,000
over 5 years
Upfront fee
$175
Go to site

Mozo editorial review Great Southern Bank Unsecured Personal Loan (Variable) - last updated: 1 June 2021

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

Personal loans can be great to help pay for an extension on your house, a holiday or the wedding you've always wanted. When it comes to loans, the Great Southern Bank Unsecured Personal Loan’s variable 11.89% p.a. interest rate (12.15% p.a. comparison rate*) lets you know you’re starting in a good place. The loan also allows you to choose from weekly, fortnightly and monthly repayment terms over 1 - 7 years.

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Key features

First off, you'll have to think about how much you want to borrow. If you're after a smaller loan from $5,000, then you can snag a Great Southern Bank Unsecured Personal Loan with a rate of 11.89% p.a. (12.15% p.a. comparison rate*). On the other hand, if you're borrowing between $30,000 and $100,000, you could potentially score a discounted rate of 11.89% p.a. (12.15% p.a. comparison rate*).

If you're interested in repaying your loan back early to save on interest, then go right ahead, because Great Southern Bank allows for unlimited free extra repayments, and there’s no penalty for paying your loan off early. This loan also comes with a free redraw facility, so if you need access to the money you paid back early, you can get it back. The only caveat is that you have to redraw a minimum of $200 if you are in-branch.

Having the ability to choose how long your loan is and how often your repayments are can be really important for keeping your budget in check. That’s why Great Southern Bank allows you to pick weekly, fortnightly or monthly repayments, and a loan term that can extend between 1 and 7 years.

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Who is it good for

This loan is a budget-friendly option for just about any borrower but is particularly well-suited to those borrowing more than $30,000, as they can score the lower rate option.

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Any catches

There aren’t really any major catches as far as the this Unsecured Personal Loan goes. Although, keep in mind that while there's a redraw facility available, a minimum $200 limit applies for in-branch redraws.

Details

Rates and fees information correct as at 6 December 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

Variable

11.89% p.a.variable

12.15% 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

$60,000.00

1 Year

7 Years

Unsecured

Features

Weekly, Fortnightly, Monthly

yes

yes

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

Applications made in branch have loan amounts available from $1,000 up to $100,000.

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.

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