Enjoy flexibility and access to cash with the ANZ Variable Rate Personal Loan.
Whether you’re looking to buy a car, pay for your education or consolidate your debt, ANZ’s Variable Rate Personal Loan can provide the funds you may need with flexible repayment options.
Things to consider about the ANZ Variable Rate Personal Loan
The ANZ Variable Rate Personal Loan is loaded with user-friendly benefits, including a redraw facility and the option to pay your loan off faster. As this is an unsecured personal loan, you won’t need to tie up any assets as security. For those who want the consistency of knowing exactly how much to budget for each month, ANZ also offers a fixed rate option.
|Product Name||ANZ Variable Rate Personal Loan|
|Interest Rate (p.a.)||From 14.69% (variable)|
|Comparison Rate (p.a.)||15.55%|
|Interest Rate Type||Variable|
|Minimum Loan Term||1 year|
|Maximum Loan Term||7 years|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$50,000|
|Monthly Service Fee||$10|
- No penalty for extra repayments
- Available to self-employed borrowers
- Access extra repayments with a redraw facility
- $10 fee charged each quarter
- You may also incur early repayment costs
Features of the ANZ Variable Rate Personal Loan
- Interest rate. The current variable rate is 14.69% p.a. (including the special offer) with a comparison rate of 15.55% p.a.
- Loan term. The loan term is flexible and you can choose a period from 1 year(s) to 7 year(s).
- Loan amount. The minimum loan amount is $5,000 and the maximum loan amount you can borrow is $50,000.
- Repayment options. You can make extra repayments for free. This will help you pay off your loan faster and save on interest.
- Redraw facility. If you are ahead on your payments you can access the extra money you’ve paid to spend on whatever you like. It can be transferred to your ANZ account instantly with no extra cost or approval needed.
Fees to keep in mind
There is a loan approval fee of $150, while a monthly loan administration fee of $10 is charged every three months.
How to apply for the ANZ Variable Rate Personal Loan
To get approved for a Variable Rate Personal Loan from ANZ, click ‘Go to Site’ to be transferred securely to ANZ’s online application form. It will take approximately 20 minutes to complete, but first make sure you meet the criteria below.
To meet the minimum criteria you must:
- Be at least 18 years of age
- Currently reside in Australia. If you are not a permanent resident you may still be eligible, but you will need to meet specific visa and income verification requirements.
- Have a regular income
- Have a good credit rating
- Be looking to borrow at least $5,000
- Current driver’s licence
- Current and previous employer’s address
- Details of your income, assets, expenses and liabilities
- Your ANZ account number if you are a customer
Approval will be granted automatically if you meet the criteria specified. Confirmation will then be sent to your email address and you may be asked for further information before the loan is finalised and funds made available to you.
It’s important to compare the features you want for in a personal loan before making a final decision. If you are looking for a personal loan with maximum flexibility, ANZ’s Variable Rate Personal Loan may be worth considering for budget-savvy borrowers.