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Great Southern Bank personal loans
Great Southern Bank is one of the largest, 100% member-owned financial institutions in Australia. Formerly CUA and Credit Union Australia before that, Great Southern Bank was founded in 1946 and today has more than 500,000 members.
Great Southern Bank is accessible through its online and mobile banking app and through branches across the country. Its personal loans are offered for a range of purposes, including debt consolidation, buying a car, or home renovations.
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Why choose Great Southern Bank
Great Southern Bank Personal Loans
Personal Loans calculator
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
Your estimated repayments
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- This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
- Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
- Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
- Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
- The calculation rounds of the personal loan repayment to the closest dollar value without decimals.
- All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
- Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
- Calculator does not include the cost of fees or other extra charges.
- Calculator does not account for changes to interest rates over time.
- This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.
Features of a Great Southern Bank personal loan
Great Southern Bank provides its customers with personal loans for a wide range of purposes including debt consolidation, buying a vehicle, home renovations, travel and education expenses. Borrowers may apply for personal loans up to $100,000.
Formerly CUA, Great Southern Bank offers both secured and unsecured personal loans, with a repayment term ranging from one to seven years. Its personal loan interest rates range from moderately low to moderate.
Great Southern Bank also rewards its personal loan customers by scrapping many common fees, including ongoing fees and early exit penalty fees. However, you should keep an eye out for a one-off establishment fee and administration fees applied to secured loans. Redraw facilities and extra repayments are also available for Great Southern Bank personal loan products, and you’re able to apply both online or in branch.
Customer service
You can contact Great Southern Bank by dropping into one of their branches across Australia, their online platform and mobile banking app. You can also give them a call through its Australia-based call centre, which is open Monday to Friday, 8:00am to 8:00pm (AEST) and Saturday to Sunday, 8:00am to 4:00pm (AEST).
Great Southern Bank also allows customers to manage their finances through Apple Pay, Google Pay and Samsung Pay.
Who is eligible for a Great Southern Bank personal loan?
To qualify for a Great Southern Bank personal loan, it is required that you:
- Are at least 18 years of age
- Are a permanent resident of Australia
- Are currently employed or receive a regular income
- Have not declared bankruptcy or insolvency
- Have no past, present or pending claims against you
How to apply for a Great Southern Bank personal loan?
You can apply for a Great Southern Bank loan in the following ways:
- Online and branch application process for secured loans from minimum $5,000 up to maximum $100,000
- Online and branch application process for unsecured loans from minimum $5,000 up to maximum $75,000
- Over the phone
Once approved for the personal loan, it generally takes at least one business day for the borrower to receive the funds.
Great Southern Bank personal loans review
Formerly CUA, Great Southern Bank is a credit union with branches Australia wide.
Great Southern Bank is a competitive choice for everyday Aussies looking for a personal loan with helpful features and very minimal fees. Not only do their interest rates range from moderately low to moderate, it does not charge ongoing fees and early exit penalty fees. Keep in mind that Great Southern Bank does charge a one-off establishment fee, and, for secured personal loans, a security administration fee applies.
Great Southern Bank personal loan customers can also enjoy features like unlimited free extra repayments and a redraw facility.
The credit union does limit borrowing from those who have declared bankruptcy or insolvency, so their personal loans may not be suitable if you are deemed an unreliable borrower.
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