ANZ personal loan repayment calculator

Thinking about taking out a personal loan with ANZ? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how ANZ personal loans compare with other options.

I'd like to borrow

$

Loan term

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Your estimated repayment

at interest rate 10.00 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Flexible repayment options.
  • Flexibility to increase your loan amount.
  • No exit fees for early repayments
  • Ongoing fees.
  • Moderately-high interest rate.
  • Upfront administration fee.

ANZ personal loans rates

Product
Advertised Rate
Comparison Rate*
Repayment
Upfront Fee
Features
Go to site
Company

12.45%

Variable

12.60%

$674

based on $30,000 loan amount for 5 years

$100

Redraw facility
Extra repayments
Fully drawn advance
Secured
ANZ
More details

12.45%

Fixed

13.32%

$674

based on $30,000 loan amount for 5 years

$150

Redraw facility
Extra repayments
Fully drawn advance
Secured
ANZ
More details

15.99%

Variable

16.84%

$729

based on $30,000 loan amount for 5 years

$150

Redraw facility
Extra repayments
Fully drawn advance
Secured
ANZ
More details

Features of an ANZ personal loan

ANZ offers several personal loans, including a variable rate loan, fixed rate loan, secured car loan and overdrafts. Loan amounts range from $5000 to $50,000, and borrowers can choose a loan term between one and seven years. While there are no exit fees if you pay your loan off early, some ANZ personal loans come with ongoing fees and a one-off administration fee. In some circumstances, borrowers can increase their loan amount after approval.

Borrowers with existing ANZ everyday accounts may be eligible for same-day cash if the loan is approved in-branch.

ANZ personal loans can be used for a range of different purposes including:

  • Debt consolidation
  • Buying a car
  • Renovations and home improvement
  • Travel and holidays
  • Weddings and other occasions

ANZ personal loans – customer service

Borrowers wishing to apply for an ANZ personal loan can do so online, over the phone or through an extensive national network of branches. Customers can contact ANZ via email and online. Borrowers can also contact customer service via:

  • Online banking
  • Email
  • Mobile app
  • Phone, Monday to Friday, 8am to 8pm (AEST)

Who is eligible for an ANZ personal loan?

Borrowers must meet the following criteria to qualify for an ANZ personal loan:

  • Be at least 18 years old  
  • Earn a minimum of $15,000 per annum   
  • Be an Australian citizen, permanent resident or have a valid visa
  • Have a regular income
  • Have a good credit rating
  • Use the loan for personal use only

How to apply for an ANZ personal loan?

Applications for an ANZ personal loan can be completed online or in-branch. Applying online is simple, takes around 20 minutes to complete, and involves the following steps:

  • Select the ANZ personal loan you want to apply for
  • Enter your income and expenses
  • Do the sums on your loan and estimate your repayments
  • Get the result of your application

Once you’ve submitted your application, you’ll receive confirmation. If your application is successful, you’ll receive a Letter of Offer confirming your interest rate, amount and loan term before receiving the funds.

ANZ personal loans review

ANZ’s range of personal loans are likely to appeal to many borrowers, given the flexible repayment conditions, variety of loan amounts and purposes and low income threshold. Although they don’t come with penalties for early repayment, there are several fees associated with the loans, including a small ongoing fee and a moderate loan application fee.

The interest rate for standard loans ranges from moderate to moderately high. ANZ takes a number of factors into account when determining borrowers’ interest rates, and potential borrowers should note that the actual rate is not confirmed until after application.

Existing ANZ everyday account holders wanting to access quick cash may be eligible for same-day funds if the loan is approved in branch before midday, Monday to Friday.

When it comes to accessing additional funds, in some cases, borrowers may redraw additional loan repayments, and depending on the circumstances, you could apply to increase your loan amount after approval.

What is a personal loan?

A personal loan sits somewhere between a home loan and a credit card loan. Unlike with a credit card, you need to sign a formal contract to access a personal loan – however, the process is easier and faster than taking out a mortgage.

Loan sizes usually range from several hundred dollars to tens of thousands of dollars, while loan terms usually run from one to five years. Personal loans are generally used to consolidate debts, pay emergency bills or fund one-off expenses like holidays.

Can you refinance a $5000 personal loan?

Many personal loans, much like home loans, can be refinanced. This is where you replace your current personal loan with another personal loan, often from another lender and at a lower interest rate. Switching personal loans may let you enjoy more affordable repayments, or useful features and benefits.

If you have a $5000 personal loan as well as other debts, you may be able to use a debt consolidations personal loan to combine these debts into one, potentially saving you money and simplifying your repayments.

How long does it take to get a student personal loan?

Completing an online personal loan application can often take anywhere from 10 minutes to 1 hour. Depending on your lender, processing your personal loan application may take anywhere between 1 and 24 hours. If your personal loan application is approved, you may receive the money in your bank account the following business day, or even the same day, in some cases.

How can I get a $3000 loan approved?

Personal loans and medium amount loans from responsible lenders don’t have guaranteed approval, as the lender will want to check that you can afford the loan repayments on your current income without ending up in financial hardship.

Having a good credit score can increase the likelihood of your personal loan application being approved. Bad credit borrowers who opt for a medium amount loan with no credit checks may need to prove they can afford the repayments on their current income (Centrelink payments may not count – so you should check with the lender prior to making an application).

What is the average interest rate on personal loans for single parents?

Like other types of personal loans, the average interest rate for personal loans for single parents changes regularly, as lenders add, remove, and vary their loan offers. The interest rate you’ll receive may depend on a range of different factors, including your loan amount, loan term, security, income, and credit score.

Can unemployed single parents get personal loans?

It can be more difficult for unemployed borrowers to successfully apply for a personal loan. Most lenders require borrowers to have a regular income available to cover the cost of loan repayments. If you’re self-employed, or if less than half of your income comes from Centrelink, you may not be eligible for some personal loan offers – consider contacting the lender before applying. >

Should I get a fixed or variable personal loan?

Fixed personal loans keep your interest rate the same for the full loan term, while interest rates on variable personal loans may be raised or lowered during your loan term.

A fixed rate personal loan keeps your repayments consistent, which can help keep your budgeting consistent, without worrying about ending up out of pocket if your rates were to rise. However, on a fixed loan you’ll also potentially miss out on more affordable repayments if variable rates were to fall.

Can I repay a $3000 personal loan early?

If you receive a financial windfall (e.g. tax refund, inheritance, bonus), using some of this money to pay extra onto your personal loan or medium amount loan could bring you benefits, such as reducing the total interest you’re charged on your loan, or clearing your debt ahead of schedule.

Check your loan’s terms and conditions before putting extra onto your loan, as some lenders charge fees for making extra repayments, or early exit fees for clearing your debt ahead of the agreed term.

What is a bad credit personal loan?

A bad credit personal loan is a personal loan designed for somebody with a bad credit history. They have higher interest rates than regular personal loans and are also harder to access.

What do single parents need for a personal loan application?

Much like applying for other personal loans, applying for personal loans for single parents will likely require the following:

  • Proof of identity
  • Proof of residence
  • Proof of income
  • Details of assets (e.g. car, home)
  • Details of liabilities (e.g. credit cards, other loans)
  • Loan amount
  • Loan term

What interest rates are charged for personal loans?

Lenders aren’t allowed to charge interest on loans of $2,000 and under. Instead, they make their money by charging a one-off establishment fee of up to 20 per cent and a monthly account-keeping fee of up to four per cent. Lenders might also ask you to pay a government fee.

For loans between $2,001 and $5,000, lenders can make their money in only two ways: a one-off fee of $400 and annual interest rates of up to 48 per cent.

For loans of $5,001 and above, or for loans that have terms longer than two years, lenders can charge annual interest rates of up to 48 per cent. (Those fee caps don’t apply to loans offered by authorised deposit-taking institutions such as banks, building societies or credit unions – although such institutions are highly unlikely to charge interest rates of anywhere near 48 per cent.)

Can I get a fast loan if I’m unemployed or on Centrelink?

Even if a lender has no credit checks, they will usually still need to confirm you can afford to repay a fast loan on your income before they’ll approve your application.

If 50% or more of your income comes from Centrelink payments, you may find it more difficult to have a fast loan application approved. Consider checking with the lender before applying to confirm if they lend to people on Centrelink.

Can I get a $4000 personal loan if I’m unemployed or on Centrelink?

Before most providers of personal loans or medium amount loans will approve an application, they’ll want to know you can afford the loan’s repayments on your current income without ending up in financial stress. Several lenders don’t count Centrelink benefits when assessing a borrower’s income for this purpose, so these borrowers may find it more difficult to be approved for a loan.

If you’re unemployed, self-employed, or if more than 50% of your income come from Centrelink, consider contacting a potential lender before applying, to find out whether they accept borrowers on Centrelink.

Do student personal loans require security?

While some personal loans can be secured by the value of an asset, such as a car or equity in a property, student personal loans are often unsecured, with higher interest rates.

Some lenders also offer guarantor personal loans to students. These loans have lower interest rates, as a guarantor (usually a relative of the borrower with good credit) will guarantee the loan, taking on the financial responsibility if the borrower defaults.

How much can you borrow with a bad credit personal loan?

Borrowers who take out bad credit personal loans don’t just pay higher interest rates than on regular personal loans – they also get loaned less money. Each lender has its own policies, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.