Great Southern Bank Variable Rate Personal Loan

The Variable Rate Personal Loan from Great Southern Bank gives you the opportunity to buy that special something you have had your eye on and pay it off over time.

With Great Southern Bank’s Variable Rate Personal Loan, you can borrow money to pay for major expenses, go on a holiday or pay off any high-interest debts. The loan offers flexible repayment options, with no penalties for paying off your loan early. You can also make extra repayments, which can bring down the interest you need to pay.

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11.89% (variable)

Interest Rate (p.a.)

12.15%

Comparison Rate (p.a.)

$5,000

Min Loan Amount

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Details

Product NameGreat Southern Bank Unsecured Variable Rate Personal Loan
Interest Rate (p.a.)11.89% (variable)
Comparison Rate (p.a.)12.15%
Interest Rate TypeVariable
Min Loan Amount$5,000
Max. Loan Amount$60,000
Loan SecurityUnsecured

Main points to consider about the Great Southern Bank Unsecured Variable Rate Personal Loan

With Great Southern Bank’s Variable Rate Personal Loan, you will receive an interest rate of 11.89% p.a. There are no monthly fees or penalties for early repayments, and you have the flexibility to choose when and how often you need to make repayments. You can also make extra repayments and work towards paying off your loan early.

If you would prefer a loan with predictable repayments, Great Southern Bank also offers a personal loan with fixed interest rates. You get the same repayment options and can also make unlimited repayments.

Features of the Great Southern Bank Unsecured Variable Rate Personal Loan

  • Interest rate. Your interest rate will be 11.89% p.a., while the comparison rate is 12.15% p.a.
  • Interest rate type. Your interest rate is variable, which means that it could either increase or decrease based on the market rate.
  • Establishment fee. You will be charged an establishment fee of $175.
  • Loan term. Your loan term will range between one and seven years.
  • Loan amount. If you apply online, you could borrow between $5,000 and $60,000. If you visit a branch, you could borrow up to $100,000.
  • Repayments. Your repayment options are flexible, and you can make as many extra repayments as you want.
  • Redraw. You can redraw any additional repayments you make, but there is a minimum $200 withdrawal amount for in-branch redraws.
  • Monthly fees. This loan does not have any monthly maintenance fees.

How to apply for the Great Southern Bank Unsecured Variable Rate Personal Loan

If you’re interested in applying for this product, you can apply online. Click the “Go to site” button below to start your application, but you will need to meet the following eligibility requirements: 

  • Be at least 18 years of age or older 
  • Be a permanent resident of Australia or an Australian citizen
  • Not have any defaults on your credit file in the past five years 

Having the following documents handy can make the application process easy: 

  • Personal information. This includes your full name, driver’s licence number and current address.
  • Employment. You will need to provide details about your employment, including your current position, how long you’ve worked there and your employer’s contact information.
  • Income. You will need to provide proof of income, including your salary and other income you receive, such as rental income.
  • Assets. You will need to provide details of your assets, including property, vehicles and savings accounts.
  • Liabilities. You must also provide a complete list of all your current debts. With credit card debt, you must show how much you owe and the available balance.

A personal loan can help you pay for large expenses that you may not be able to afford otherwise. When comparing loans, you should keep an eye out for features such as interest rates and additional fees. Comparing personal loans offered by different lenders can help you find one that suits your needs.

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