Gateway Bank is a customer-owned bank that offers a wide variety of financial services.
Formerly known as Gateway Credit Union, its history dates back to 1955 when there was just one employee with a briefcase.
Today, Gateway Bank has more than 30,000 members across Australia, dozens of employees and assets worth more than $1 billion.
Gateway Bank’s head office and only branch is in central Sydney. Members have free access to all Westpac Group ATMs.
Benefits
Drawbacks
Australian Credit Licence 238293Fees & charges apply
6.44%
7.45%
up to 6.76%
$586
$35,169
Australian Credit Licence 238293Fees & charges apply
11.59%
12.63%
$661
$39,668
Australian Credit Licence 238293Fees & charges apply
12.34%
13.39%
$672
$40,350
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
Your estimated repayments
-
Total loan repayments
-
Total interest charged
-
Gateway Bank offers a wide variety of personal loans for a range of reasons, such as debt consolidation, holidays, renovations or special events.
Gateway Bank offers only secured loans, where an asset is put up for collateral.
Personal loan amount
$3,000 - $30,000.
Interest rates
Personal loan terms
Repayment options
Fees
Applications can be made 24/7 online for a personal loan with Gateway Bank. However, to speak to a Gateway Bank employee in person or on the phone, you must make contact during the following times:
Applicants and members can also seek customer service in the following ways:
You won’t be able to get a Gateway Bank personal loan if, in the last five years, you’ve declared bankruptcy or insolvency, or defaulted on any other loans, credit cards or store cards.
You don’t have to be a member to submit an application, but you will need to become a member before the loan is funded to you. You will also need to be:
Online applications can be made 24/7 or you can apply in person at the Sydney CBD branch. You will likely need the following information and documents:
Gateway Bank offers personal loans with a wide variety of features to suit a range of borrowers.
Interest rates vary depending on the type of personal loan a member takes out. Interest rates are generally lower for variable-rate loans than fixed-rate loans. Debt consolidation personal loans where the value is smaller than 50 per cent have lower interest rates than those where the value is higher than 50 per cent.
Overall, the interest rates on personal loans are moderately high compared to other lenders. However unlike many lenders, Gateway Bank doesn’t charge members when they make extra repayments or choose to pay the entire loan off early. There are also no ongoing monthly fees charged on personal loans with Gateway Bank.
Gateway Bank also offer loans to cover funeral expenses as well as car loans that have slightly different features.
On this page
^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.
