Great Southern Bank Personal Loans (previously known as CUA)

 

Great Southern Bank

Great Southern Bank is a provider of personal loans, car loans, home loans as well as everyday banking and insurance products.

Compare Personal Loans

What personal loans does Great Southern Bank offer?

At the time of writing, Great Southern Bank offers two different types of unsecured personal loans:

  1. Unsecured fixed personal loan
  2. Unsecured variable personal loan

Great Southern Bank also offers a Secured Fixed Car Loan which can be used to buy a new or used car up to seven years old.

Great Southern Bank unsecured fixed personal loan

This loan currently offers the following features, according to Great Southern Bank:

  • Loan term between one and seven years
  • Loan amount between $5,000 and $50,000 (loans from $1,000 may be available if you apply at a Great Southern Bank branch)
  • No monthly fees
  • No early payout fees
  • Unlimited free additional repayments
  • Access to additional repayments with a redraw facility
  • Repayments available either weekly, fortnightly or monthly

Great Southern Bank unsecured variable personal loan

This loan currently offers following features:

  • Loan term between one and seven years
  • Loan amount between $5,000 and $60,000 if you apply online (loans from $1,000 to $100,000 may be available if you apply at a Great Southern Bank branch)
  • No monthly fees
  • No early payout fees
  • Unlimited free additional repayments
  • Access to additional repayments with a redraw facility
  • Repayments available either weekly, fortnightly or monthly

Compare Personal Loans

What can you use Great Southern Bank’s personal loans for?

Personal loans can typically be used for important life events and other large expenses. Great Southern Bank says its personal loans can be used for:

  • Buying a car
  • Debt consolidation
  • Holidays
  • Home renovations
  • Education

Great Southern Bank currently offers a Secured Fixed Car Loan which can be used to buy a new or used car up to seven years old.

Read the product disclosure statement (PDS), key facts sheet or other applicable loan documentation from Great Southern Bank for any specific details on what you may or may not be able to take out a personal loan for.

Compare Personal Loans

Great Southern Bank personal loan FAQs

Great Southern Bank says its personal loan terms range from one to seven years.

There are a number of fees to be aware of when taking out a personal loan. At the time of writing, Great Southern Bank advises that its personal loans come with a $175 establishment fee. Great Southern Bank says it does not charge any monthly fees or an early payout fee, however. Check with Great Southern Bank for a full list of the fees and charges that may apply.

According to Great Southern Bank, to be eligible for a Great Southern Bank personal loan you must:

  • Be aged 18 years or over
  • Be an Australian citizen or permanent resident
  • Be employed or receive a regular income
  • Not be or have been insolvent or bankrupt
  • Have no past, present or pending claims against you

When applying for a personal loan, Great Southern Bank says you will need the following information at hand:

  • An email address and contact number
  • Your existing Great Southern Bank Member number (if you already bank with Great Southern Bank)
  • Details to verify your identity, such as an Australian driver’s licence, Medicare or passport details
  • Employment and income details
  • Details of your expenses, assets and liabilities

Great Southern Bank (formerly CUA) was founded in 1946. Today it says it is Australia’s largest credit union and provides financial and insurance products to over 500,000 Australians.

This article was reviewed by our Sub-editor Tom Letts before it was updated as part of our fact-checking process.

Written by: Tamika Seeto | Last updated: September 16, 2020