St.George personal loans

What personal loans do St. George offer?

Secured personal loans:

Secured personal loans from St.George have two nifty advantages over the unsecured alternative. Firstly they have lower interest rates because they are tied to an asset such as a new or used car, and secondly they have a higher borrowing limit of up to $80,000. With these loans you can choose between two interest rate types - a fixed or variable rate. Which one you opt for will depend on your circumstances. Now, if you’re a creature of habit and like to know exactly what your future loan repayments will be, the fixed rate option might be ideal for you. But if you’re willing to part with the lower fixed interest rate for the flexibility of a redraw facility, extra repayments, no-break cost fees, and the possibility of a longer loan term of up to seven years, the variable rate could be your match. Just keep in mind the redraw facility comes with a fee attached each time you use it, and there’s a minimum redraw amount.

Unsecured personal loans:

On top of a secured personal loan option, St. George also offers the alternative of going for its unsecured personal loans. This means you’ll pay a higher interest rate for not binding the loan to an asset like a new or used car. You can use these loans for everything from consolidating debts or paying for that big ticket trip to Europe. St. George unsecured personal loans can range from $3,000 to $40,000 and have a loan term of one to seven years. Plus you can choose between either a fixed or variable interest rate - which rate you choose will depend on the features and benefits that work best for you. Let’s take a look at the fixed rate option first. While you can’t make extra repayments or use a redraw facility, one benefit is that the interest rate is slightly lower and is locked in for the term of the loan, meaning your ongoing repayments will always remain consistent. On the other hand, with the variable rate option the term can be longer. You can also make extra repayments and pay the loan off early without being hit by a break cost fee. Plus, it's redraw facility lets you dip into past repayments of a specified minimum amount. Just keep in mind you are charged a fee each time you do this.

St. George personal loan features at a glance

• Upfront and ongoing fees: If you’re keen on taking out a St. George personal loan, don’t forget to factor in the initial start up cost and monthly fees, which apply to all its loans.

• Flexible repayments: With the St. George personal loans described on this page you can take your pick between weekly, fortnightly or monthly repayments. This will make paying off your loan that bit easier if you want your repayments to coincide with payday for example.

• Extra repayments: You have the freedom to make extra repayments as you please with all of St. George’s variable personal loans. Keep in mind that there are break cost fees for paying your loan off early if you go for a St. George loan with a fixed interest rate attached.

• Redraw facility: While there’s no redraws on the extra repayments you’ve made with the fixed rate personal loans, all of St. George’s variable rate personal loans come with this flexible feature.

• Insurance options: Depending on your personal loan, St. George has a Consumer Credit Insurance option available, which means that if something unfortunate happens like you are made redundant or get sick and can’t make repayments, the insurance may be able to cover those costs.

How do you apply for a St. George personal loan?

To apply for a personal loan with St. George, it’s a quick and easy process. You just need to be an Australian citizen or resident and pop into a branch or file your details online to hear back during business hours.

Some things you’ll need to provide in your application include:

• One hundred points of ID, which means your driver’s licence or passport and proof of address. So bank statements and bills with your address on it will work.
• Details of your employer including a name, address and direct phone number. If you are self-employed, you’ll need to have your tax receipts ready to provide to St. George.
• Information of your salary and income after tax.
• Details of your savings, assets and investments.
• The limits of your current credit such as store cards and the like.
• Details of any other major expenses you see as relevant to your application.
• One personal reference with their name, address and contact number.
• Keep in mind you need to be an Australian citizen or resident to be eligible for a St. George personal loan, and of course be an adult over 18 years of age.