Great Southern Bank Fixed Rate Car Loan
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- Application Fee
- $0
- Interest Rate (p.a.)
- From 5.99% (fixed)
- Comparison Rate (p.a.)
- 6.13%
- Max Loan Amount
- $100,000
Summary
A fixed rate car loan from Great Southern Bank lets you have the financial stability you need to fund the car you want.
The Great Southern Bank offers a fixed rate car loan, with a number of benefits for borrowers. The loan comes with no monthly fees. It also has flexible repayment options, which make it easy for you to budget around this loan. You can also make unlimited extra repayments with zero penalties for early payouts.
You might like the Great Southern Bank Fixed Rate Car Loan if...
- You want repayment certainty. With a fixed interest rate, your repayments won’t change for the term of the loan, which is great if you’re budgeting and want stability.
- You’re looking for a low-fee option. This loan has no ongoing monthly fee, which helps reduce your total cost over time compared to many lenders who charge between $5–$10 per month.
- You want to make extra repayments without penalty. The loan allows fee-free extra repayments, helping you pay off your loan faster and save money on interest.
- You value highly rated products. With a Finder Score of 9.4 out of 10, this product sits among the highest-rated car loans in the Finder database.
You may not like the Great Southern Bank Fixed Rate Car Loan if...
- You’re hunting for the lowest rate possible. With a comparison rate of 6.13% p.a., this is competitive but not the lowest available in the Finder database.
- You prefer a fully online experience. Depending on your location, you may need to speak to a consultant or visit a branch to complete the loan. But many lenders offer a 100% digital application and approval process.
- You want an unsecured option. This is a secured loan, meaning you’ll need to provide the car as collateral. If you want more flexibility or plan to use the funds for something else, an unsecured car loan might suit you better.
Pros
-
Competitive interest rate
-
Large maximum loan amount
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Fee-free additional repayments
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Redraw facility available
Cons
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$200 minimum for in-branch redraws
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$100 administration fee for secured loans
Details
Product details
| Product Name | Great Southern Bank Fixed Rate Car Loan |
| Interest Rate (p.a.) | 5.99% to 12.99% |
| Comp. Rate (p.a.) | 6.13% to 13.14% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max Loan Amount | $100,000 |
Main points to consider about the Great Southern Bank Fixed Rate Car Loan
This personal car loan from Great Southern Bank is a fixed rate secured loan. It can be used to buy either a new vehicle or a used vehicle up to seven years old.
The interest rate is fixed starting from 5.99% p.a. up to 12.99% p.a. You can also make as many repayments as you wish, so you could pay off your loan early and without penalties.
When your loan is approved, you will be charged . There are no monthly charges with this loan, making it a cost-effective choice.
Features of the Great Southern Bank Fixed Rate Car Loan
- Interest rate. This car loan comes with a fixed interest rate. It is fixed starting from 5.99% p.a. up to 12.99% p.a., while the comparison rate is from 6.13% p.a. to 13.14% p.a.
- Loan term. The loan term ranges from 1 year to 7 years.
- Loan amount. The minimum loan amount is $5,000. You can borrow up to $100,000 using the vehicle as security.
- Repayments. Flexible repayments allow you to pay back the loan based on your income and budget. You can repay the loan monthly, fortnightly or weekly. You can also make as many additional repayments as you wish, with no extra charge.
- Redraw. You can redraw any additional repayments you make. There is a minimum $200 withdrawal amount for in-branch redraws.
- Monthly fees. There is no monthly maintenance fee.
How to apply for the Great Southern Bank Fixed Rate Car Loan
If you wish to apply for a Great Southern Bank car loan, click "Go to Site" to begin your application. You will need to meet the following eligibility requirements:
- You must be at least 18 years of age or older.
- You must be a permanent resident of Australia or an Australian citizen.
- You must have a good credit history, with no defaults over the last five years.
Keep the following documents handy when applying:
- Personal information. This includes your name, date of birth, current address and driver’s licence number.
- Employment. This includes details of your employment, including your current employer’s contact information.
- Income. This includes your current income and any additional regular income.
- Assets. You will need to provide details of your assets, including property, vehicles and savings.
- Liabilities. You will also need to provide a list of all your current financial obligations, including other loans and credit card debts.
When you’re shopping for a new car, you should keep in mind that there are many alternatives to dealership finance. By comparing rates and features between lenders, you could find the best car loan available. Before making your final decision, compare Great Southern Bank Fixed Rate Car Loans with other loan products.
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