Great Southern Bank Fixed Rate Car Loan
- Application Fee
- $100
- Interest Rate (p.a.)
- From 6.29% (fixed)
- Comparison Rate (p.a.)
- 6.43%
- 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 want a predictable monthly repayment. This loan offers a fixed interest rate, so your repayments stay the same, making it easier to budget over the life of the loan.
- You’re looking for a low-fee financing option. There are no ongoing monthly service fees, and no early exit fee, making it one of the more cost-effective options in our database.
- You want a competitive rate from a well-rated product. With a comparison rate of 6.43% p.a., this is the 54th cheapest car loan out of 232 products in the Finder database. Its Finder Score of 9.41 out of 10 places it among the highest-rated options overall.
- You want a secured loan for a wider range of vehicles. This is an unsecured loan, which might limit how much you can borrow and may not be available for older or used vehicles compared to secured options like the Plenti Secured Car Loan.
- You prefer variable interest rates for potential savings. Since this is a fixed rate loan, you won’t benefit if market interest rates decrease during your loan term.
- You want the absolute lowest rate available. While competitive, this loan isn't the lowest-cost option: 53 other products in the Finder database offer a lower comparison rate. For instance, the MOVE Bank New Car Loan offers lower rates with similar conditions.
Pros
-
Competitive interest rate
-
Large maximum loan amount
-
Fee-free additional repayments
-
Redraw facility available
Cons
-
$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.) | 6.29% to 12.99% |
| Comp. Rate (p.a.) | 6.43% 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 6.29% 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 6.29% p.a. up to 12.99% p.a., while the comparison rate is from 6.43% 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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How we picked theseFinder Score for car loans
To make comparing car loans even easier we came up with the Finder Score. Interest rates, fees and features across 200+ car loan products and 100+ lenders are all weighted and scaled to produce a score out of 10. The higher the score, the more competitive the product.
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