Gateway Bank Fixed Rate Personal Loan Review & Rates | finder.com.au

Gateway Bank Personal Loan – Fixed Rate

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Lock in a competitive fixed rate with an unsecured personal loan from Gateway.

Personal loans can act as a stepping stone to help you reach your financial goals. If you're thinking about getting a personal loan and are worried about budgeting for your repayments then you might want to consider a fixed rate loan. The personal loan options from Gateway Bank allow you to lock in a set rate that continues for the life of the loan.


From 10.59% (fixed)

Interest Rate (p.a.)

11.63%

Comparison Rate (p.a.)

$3,000

Min Loan Amount

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Details

Product NameGateway Personal Loan - Fixed Rate
Interest Rate (p.a.)
From 10.59% (fixed)
Comparison Rate (p.a.)11.63%
Interest Rate TypeFixed
Min Loan Amount$3,000
Max. Loan Amount$30,000

Awards

Gateway Credit Union was awarded Credit Union of the Year at the 2012 Australian Banking and Finance Awards. They have also won two Money Magazine Awards in previous years.

Features

This loan has various features that make it a competitive personal loan to consider. Some of the features include:

  • Low fees. This loan has no regular account-keeping fees, which can save you a considerable amount over the life of the loan.
  • Loan terms. You can borrow money for the competitive fixed rate for up to 5 years.
  • Loan amount. Borrowers can choose a loan amount from between $3,000 and $30,000, making this loan suitable for many purposes.
  • Repayment options. Borrowers can choose to make weekly, fortnightly or monthly principal and interest repayments throughout the life of the loan, helping to plan these repayments and incorporate them into your budget.
  • Redraw facility. Gateway offers a redraw facility that gives you a way to reduce interest by making extra repayments, but also letting you redraw this money if you need to. The minimum redraw amount is $250.
  • Additional repayments. Borrowers are also able to make unrestricted additional repayments so you can pay off your loan sooner if you are able to and you can also save on interest.

Pros and cons

Pros

  • The ability to make unrestricted additional repayments could potentially save you a considerable amount of money on interest and can give you peace of mind when you pay off your loan sooner
  • You can create a more accurate budget knowing your repayments won't fluctuate for this life of this loan

Cons

  • There's a loan establishment fee of $149 and there are also other loan contract fees which may apply
  • Gateway Bank only has one branch location, which may be limiting to people who prefer to bank in person

Eligibility criteria

To be eligible for the fixed rate personal loan from Gateway Bank you will need to be over the age of 18 and have a good credit rating. You will also need to be a permanent Australian resident or Australian citizen.

The amount of money you are able to borrow will be determined by your current financial situation and also by how likely it is that you will be able to make the repayments. It's important to plan ahead and budget when you are considering a personal loan.

How to apply

If you would like to apply for this loan you can follow the secure link on this page to Gateway Bank's online application form. You will need to provide the following details when you apply:

  • Personal details including your name, address and contact information
  • Your employer's name and contact information
  • Details of your finances including your income, assets, debts and current active credit accounts

If you are already a Gateway customer you are able to apply in the members online banking area. You are also able to apply by downloading a personal loan application form and sending it to Gateway Bank directly.

Compare other personal loans

Data updated regularly
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Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Symple Loans Personal Loan
From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
Plenti Personal Loan
From 6.39% (fixed)
6.39%
$2,001
3 to 7 years
$0 to $999
$0
You'll receive a fixed rate between 6.39% p.a. and 17.89% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 3 years. Interest and comparison rates calculated for a loan term of 5 years.
SocietyOne Unsecured Personal Loan (2-3 years)
From 6.39% (fixed)
6.39%
$5,000
2 to 3 years
from 0% to 5% of the loan amount
$0
You'll receive a fixed rate between 6.39% p.a. and 17.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
SocietyOne Unsecured Personal Loan (5 years)
From 6.39% (fixed)
6.39%
$5,000
5 years
from 0% to 5% of the loan amount
$0
You'll receive a fixed rate between 6.39% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
Alex Personal Loan
From 5.49% (fixed)
5.49%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 5.49% p.a. to 19.99% p.a. based on your risk profile
Borrow between $2,100 and $30,000 from 6 months to 5 years. Note: The $295 establishment fee will be waived for loan applications submitted by 3 May 2021
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
7.79%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
Wisr Personal Loan
From 6.49% (fixed)
6.76%
$5,000
3 to 5 years
$595
$0
You'll receive a fixed rate between 6.49% p.a. and 19.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.
OurMoneyMarket Personal Loan
From 5.35% (fixed)
6.31%
$2,001
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 5.35% p.a. to 20.99% p.a. based on your risk profile
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

⭐ Finder Exclusive: Apply before April 30th to secure a discounted rate of 5.35% p.a. (comparison rate: 6.31% p.a.) for the first 12 months.

CUA Unsecured Fixed Rate Personal Loan
9.39% (fixed)
9.64%
$5,000
1 to 7 years
$175
$0
You'll receive a fixed rate of 9.39% p.a.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
Latitude Personal Loan (Unsecured)
From 7.99% (fixed)
9.24%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 7.99% p.a. and 22.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly. You can check your interest rate before applying with no impact to your credit score.
NAB Personal Loan Unsecured Fixed
From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
MoneyMe Personal Loans
From 6.25% (fixed)
7.64%
$2,100
1 to 5 years
from $295 to $495
$10
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
Plenti Variable Rate Personal Loan
From 6.39% (variable)
6.39%
$2,001
1 to 3 years
$0 to $999
$0
You'll receive a variable rate from 6.39% p.a and 16.89% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 12 months. Benefit from transparent costs and a rate estimate before you apply.
Pepper Money No Fee Personal Loan
From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
$0
$0
You'll receive a fixed rate between 5.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $50,000 and use for a range of purposes. Pay no upfront, early repayment or ongoing fees.
CUA Unsecured Variable Personal Loan
11.89% (variable)
12.15%
$5,000
1 to 7 years
$175
$0
You'll receive a variable rate of 11.89% p.a.
Borrow from $5,000 with the option for flexible repayments and no monthly fees.
NAB Personal Loan Unsecured Variable Rate
From 6.99% (variable)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 6.99% p.a. and 18.99% p.a. (7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes. Benefit from fee-free additional repayments and a redraw facility. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
NOW Finance No Fee Unsecured Personal Loan
From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
No Establishment Fee
$0
You'll receive a fixed rate between 5.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.

⭐ Finder Exclusive: Get a free $200 Westfield e-gift card once your loan application has settled. Offer ends on 30 April 2021. T&Cs apply.

People's Choice CU Discounted Personal Loan
From 7.99% (fixed)
8.35%
$10,000
1 to 10 years
$250
$0
You'll receive a fixed rate from 7.99% p.a. for 5 years
Secure this loan with a vehicle up to 7 years old and benefit from long loan terms up to 10 years and pre-approval.
People's Choice CU Unsecured Personal Loan (Low Rate)
8.99% (fixed)
10.73%
$2,000
1 to 7 years
$250
$0
You’ll receive a fixed rate from 8.99% p.a. based on your risk profile
Borrow between $2,000 and $40,000 up to 7 years. No penalties for early payout or additional repayments and no monthly account fee.
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Compare up to 4 providers

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 10.5% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

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2 Comments

    Default Gravatar
    Maria
    January 18, 2015

    As a self-employed person, what hoops will I need to jump through?

      Avatarfinder Customer Care
      Shirley
      January 19, 2015

      Hi Maria,

      Thanks for your question.

      You’ll need to be able to provide your accountant’s name, address and phone number. Your accountant will then be asked to verify your income to Gateway CU.

      Cheers,
      Shirley

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