- Interest Rate (p.a.)
- Comp. Rate (p.a.)
- Min Loan Amount
This personal loan has borrowing amounts ranging from $5,000 up to $50,000, with terms from 1 to 5 years. Repayment frequency can be weekly, fortnightly or monthly and you can receive pre-approval. This loan is unsecured and does not require an asset as collateral. Interest rates are also fixed, meaning that your repayments will remain the same on a monthly basis. This can make budgeting easier. Rates start from 8.99% p.a., and while there is no monthly fee, there is an establishment fee of $275.
|Product Name||Greater Bank Unsecured Personal Loan|
|Interest Rate (p.a.)||8.99%|
|Comp. Rate (p.a.)||9.38%|
|Interest Rate Type||Fixed|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$50,000|
How does the Greater Bank Unsecured personal loan work?This is an unsecured loan, which means that Greater Bank doesn’t require collateral to secure it. No monthly fees apply, but you will be charged an establishment fee of $275. A redraw facility is available online for no charge, but a fee will be levied for redraws made by written request. The interest rate is fixed for the term of loan at 8.99% p.a.
Greater Bank also offers a secured personal loan option where you can benefit from a lower interest rate if you offer up collateral to be used as security.
How to applyApplications can be submitted online. Keep in mind you'll need to meet the following criteria to apply:
- You must be at least 18 years old.
- You must be an Australian permanent resident or citizen.
- Your credit history must be in reasonable shape.
- You'll need a minimum income of $20,000.
Features of this loanIf you’re interested in applying for this loan, here are some of its features to consider:
- Quick approval. If your application is complete, you can be approved for your loan within 24 hours.
- No security required. This is an unsecured loan, so you won't be required to provide collateral as a guarantee.
- Fixed interest rate. Interest is fixed at 8.99% p.a., so your repayments won't change throughout the life of the loan.
- Flexible repayments. Choose to make repayments on a weekly, fortnightly or monthly basis. Additional repayments are allowed for no extra fee.
- Early repayment. If you'd like to repay the whole of the loan amount before the end of the loan period, you can do so without risking a penalty fee.
- Loan term. This loan can be repaid over a period of 1 to 5 years.
- Fees. Monthly fees are waived, but an establishment fee of $275 applies.
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