Buying a new car? If you need a loan that is both competitive and flexible, check out Greater Bank’s New Car Loan. Not only does it come with a low fixed rate of 5.49% (5.87% comparison rate*), it also has a bunch of flexible repayment features. Plus, you could be approved for the loan as quickly as 24 hours.
Greater Bank’s New Car Loan has more than one thing going for it.
It comes with a super low 5.49% fixed rate (5.87% comparison rate*) and a range of loan terms from one year up to seven years. Borrowers can take out loans anywhere from $5,000 to $100,000 to purchase a new car. Just bear in mind though, you can only borrow up to 80% of the car’s value, so you must have saved at least 20% before you apply.
With Greater Bank’s New Car Loan customers can choose a weekly, fortnightly or monthly repayment schedule. Plus, they can also make free extra repayments and access a redraw facility if they want to. Also keep in mind, there is no penalty for borrowers that pay down their loan early.
While there are no monthly service fees attached to this loan, there are a couple of fees to be mindful of. There is a $275 upfront application fee, and it is best to set up automatic repayments because if you miss a regular repayment you will be charged $6 every time you do.
Greater Bank’s New Car Loan could be a good loan choice for anyone looking for a finance option with a low rate and flexible repayment options. And for those that love banking out of the palm of their hand, customers can track their loan 24/7 on the Greater Bank app.
This is a secured loan so you will be putting your new car down as security.
To qualify for this loan you must be an Australian resident, over 18 and live in either NSW, QLD or ACT. Plus, you must have an annual income of over $20,000 and a satisfactory credit history.
Fixed
5.49% p.a. fixed
5.87% p.a.based on $30,000
over 5 years
$275.00
$0.00
$6.00
$0.00
$0.00
$5,000.00
$100,000.00
1 Year
7 Years
Vehicle
Weekly, Fortnightly, Monthly
Yes
Yes
Borrow up to 120% of the value of the new car.
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.
Greater Bank offers a range of personal and business banking products around a quarter of a million customers in NSW and Queensland. Its products include savings and investment accounts, home loans, personal loans, credit cards, business banking, financial planning, travel money and insurance. Greater Bank is owned by its customers, not shareholders, and has a focus on providing great rates, low fees and superior service.
NOW Finance
Unsecured Personal Loan
5.95% p.a.to 17.95% p.a.
5.95% p.a.to 17.95% p.a.based on $30,000
over 5 years
Plenti
Unsecured Personal Loan (Fixed)
6.39% p.a.to 8.69% p.a.
6.39% p.a.to 9.61% p.a.based on $30,000
over 5 years
OurMoneyMarket
Low Rate Personal Loan
6.75% p.a.to 8.48% p.a.
6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years
Latitude
Secured Personal Loan
5.99% p.a.to 21.99% p.a.
7.26% p.a.to 23.15% p.a.based on $30,000
over 5 years
SocietyOne
Unsecured Personal Loan (Fixed)
6.99% p.a.to 10.49% p.a.
6.99% p.a.to 11.92% p.a.based on $30,000
over 5 years
Symple Loans
Personal Loan
5.75% p.a.to 25.99% p.a.
6.47% p.a.to 29.2% p.a.based on $30,000
over 5 years
Wisr
Unsecured Personal Loan
6.49% p.a.to 19.95% p.a.
6.76% p.a.to 20.26% p.a.based on $30,000
over 5 years
Heritage Bank
Standard Personal Loan (Unsecured)
8.99% p.a.
9.62% p.a.based on $30,000
over 5 years
NOW Finance
Secured Personal Loan
4.45% p.a.to 15.45% p.a.
4.45% p.a.to 15.45% p.a.based on $30,000
over 5 years
Wisr
Secured Car Loan
5.19% p.a.to 18.95% p.a.
5.46% p.a.to 19.26% p.a.based on $30,000
over 5 years
Plenti
New Car Loan (Fixed)
4.89% p.a.to 8.89% p.a.
5.44% p.a.to 9.46% p.a.based on $30,000
over 5 years
Latitude
Secured Personal Loan
5.99% p.a.to 21.99% p.a.
7.26% p.a.to 23.15% p.a.based on $30,000
over 5 years
NOW Finance
Unsecured Personal Loan
5.95% p.a.to 17.95% p.a.
5.95% p.a.to 17.95% p.a.based on $30,000
over 5 years
Symple Loans
Personal Loan
5.75% p.a.to 25.99% p.a.
6.47% p.a.to 29.2% p.a.based on $30,000
over 5 years
Wisr
Unsecured Personal Loan
6.49% p.a.to 19.95% p.a.
6.76% p.a.to 20.26% p.a.based on $30,000
over 5 years
OurMoneyMarket
Low Rate Personal Loan
6.75% p.a.to 8.48% p.a.
6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years
SocietyOne
Unsecured Personal Loan (Fixed)
6.99% p.a.to 10.49% p.a.
6.99% p.a.to 11.92% p.a.based on $30,000
over 5 years
Plenti
Unsecured Personal Loan (Fixed)
6.39% p.a.to 8.69% p.a.
6.39% p.a.to 9.61% p.a.based on $30,000
over 5 years
Heritage Bank
Standard Personal Loan (Unsecured)
8.99% p.a.
9.62% p.a.based on $30,000
over 5 years
Harmoney
Unsecured Personal Loan
6.99% p.a.to 24.79% p.a.
7.79% p.a.to 25.74% p.a.based on $30,000
over 5 years
Plenti
Used Car Loan (Fixed)
5.29% p.a.to 9.99% p.a.
5.84% p.a.
$0.00
