Great Southern Bank personal loans

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 and they offer both fixed and variable loan terms.

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.

You can contact Great Southern Bank by dropping into one of their 50+ 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. 

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

You can apply for a Great Southern Bank loan in the following ways:

• Online application process for loans of up to $60,000.
• In branch for loans of at least $1,000 and larger loans over $60,000.
• Over the phone

Once approved for the personal loan, it generally takes at least one business day for the borrower to receive the funds.

Formerly CUA, Great Southern Bank is a credit union with branches Australia wide. They offer secured and unsecured personal loans with a maximum borrow amount of $100,000.

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.