8.7 / 10

based on 1394 reviews as rated by Mozo community

Greater Bank personal loans

Are you looking for a personal loan with a rate that undercuts the big banks? Then a loan from a customer owned institution like Greater Bank might be for you, as profits are passed back to members, not shareholders in the form of lower interest rates.

Greater offers three different types of loans with a fixed interest rate attached: a new car loan, a secured personal loan, or an unsecured personal loan. So whether you need a new 4WD, are looking to revamp your home or jetset overseas, Greater Bank will have you covered. Read on and you might just find your personal loan match below.

Greater Bank offers the following personal loans

Rates and fees verified as correct at 04 December, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
New Car Loan (Fixed, Secured)

5.49% p.a.

5.87% p.a.based on $30,000
over 5 years

$275

Secured Personal Loan (Fixed)

6.49% p.a.

6.88% p.a.based on $30,000
over 5 years

$275

Unsecured Personal Loan (Fixed)

8.95% p.a.

n/a

$275

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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Greater Bank personal loans overview

New car loan (fixed): 

Are you looking to buy a new ride, with a price tag between $5,000 and $100,000? Then take a look at this fixed rate personal loan offered by Greater Bank. Terms are available for one to seven years and while there’s an upfront fee, you’ll be charged no ongoing monthly fees over the life of the loan. You can set up your repayment schedule either weekly, fortnightly or monthly. Plus Greater also lets you redraw funds from the extra repayments you’ve made online and at your leisure. If you want to pay off your loan early, you can do that too without penalty, as Greater Bank doesn’t charge break cost fees.

Secured personal loan (fixed): 

This loan will help you out with a cheaper interest rate if you have collateral like a portion of your property or an expensive personal item to secure your personal loan with. Greater Bank can give the green light for personal loans up to 120% of the value of the asset. This means for example, if you have collateral valued at $10,000 you can take out a Greater secured loan to the value of $12,000. Other benefits of this loan include a choice between weekly, fortnightly or monthly repayments, and no monthly fees. You’re also welcome to make extra repayments, plus redraw funds from those extra repayments using the online portal free of charge. Another reason you might like to apply for a secured personal loan with Greater is that it can last up to seven years, unlike the unsecured personal loan which only offers terms up to five years.

Unsecured personal loan (fixed): 

If you don’t want to secure your loan with an asset and need to borrow from $5,000 to $50,000, then Greater’s fixed unsecured personal loan might be the right pick for you. Greater Bank’s unsecured loan has no monthly fees and you can pay your loan off early without footing an extra fee. This loan also comes with an online redraw facility, so you can draw upon extra repayments you’ve made. An unsecured personal loan with Greater Bank can have a life-span of anywhere from one to five years. But if you’re looking for a loan with a time-frame of six or seven years, you might want to choose the secured version instead. Keep in mind the unsecured personal loan has a higher interest rate than the secured alternative.

Greater Bank personal loan features at a glance

How do you apply for a Greater Bank personal loan?

Applying for a personal loan with Greater Bank only takes a few simple steps. You can either hop over to a branch, apply online or give Greater a call. Whichever method you choose to apply, your personal loan could get granted within 24 hours. Of course, you’ll need to be 18 years of age or older and your credit history should be sound. Greater Bank also requires you to be an Australian citizen or Australian Permanent Resident.

Things you need to include in your application are:


How are Greater Bank personal loans rated?

Mozo users have rated Greater Bank personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
Greater Bank personal loans
Overall
7.7/10
Price
Features
Customer service
Convenience
Trust

23 Reviews

Recent Greater Bank personal loan reviews

Greater Bank Personal Loan review
Overall 10/10
Great customer service and product features

Low interest rate, convenient to make payments and no early pay out fee. Plus I can track the loan on my online banking to see exactly how much interest I am paying and the balance

Read full review

Low interest rate, convenient to make payments and no early pay out fee. Plus I can track the loan on my online banking to see exactly how much interest I am paying and the balance

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Bianca, New South Wales reviewed almost 5 years ago
Greater Bank Personal Loan review
Overall 3/10
Very Strict On Loans.

I have over $10000 in savings and work permanent part time. Tried to secure a $5000 loan for holidays. This would have been my first loan and was rejected by Greater. Been with them 5 years, going to look else where now.

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I have over $10000 in savings and work permanent part time. Tried to secure a $5000 loan for holidays. This would have been my first loan and was rejected by Greater. Been with them 5 years, going to look else where now.

Price
0/10
Features
0/10
Customer service
8/10
Convenience
0/10
Trust
0/10
Less
Ethan, New South Wales reviewed over 5 years ago
Greater Bank Personal Loan review
Overall 10/10
Satisfied

Very happy with banking

Read full review

Very happy with banking

Price
8/10
Features
7/10
Customer service
9/10
Convenience
8/10
Trust
8/10
Less
Rachel, reviewed almost 6 years ago
Greater Bank Car Loan (New) (Fixed) review
Overall 10/10
Best Customer Service!

The service is what makes me come back more than anything! They have great rates and they are easy to use, but the friendly, courteous staff go the furthest in my opinion.

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The service is what makes me come back more than anything! They have great rates and they are easy to use, but the friendly, courteous staff go the furthest in my opinion.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Rachael, New South Wales reviewed about 6 years ago

Personal loan quick links