St.George Bank Car Loans

St George: Outstanding Value Award Winner

St.George provides car loans as well as everyday banking, home loans, credit cards, and investment products.

What car loans does St.George offer? 

At the time of writing, St.George offers fixed and variable-rate secured loans for cars and other vehicles. These loans offer the following features:

  • The option of weekly, fortnightly, or monthly repayments
  • Redraw facility available on variable rate loans
  • Internet banking available

Is your car eligible for a secured loan with St.George?

To be eligible for a secured car loan with St.George, your application will be subject to its normal lending criteria. St. George says your chosen vehicle must be:

  • Registered in your own name. If it is registered under two names, St. George says you will need to make a joint application.
  • A four-wheel vehicle that has never been extensively damaged or written off
  • 12 years old or less at the end of the loan term (to qualify for a lower interest rate)
  • Covered for one year’s full comprehensive car insurance at the time you take out the loan

Check the PDS (product disclosure statement) for St.George’s car loan criteria.

Does St.George also offer personal loans?

Yes, St.George does offer both secured and unsecured personal loans as well as its car loan product. According to St.George you can also use one a personal loan secured with a car to buy items other than a car. 

What are the minimum loan amounts on St.George car loans?

St.George specifies that you must take out a car loan of at least $3,000 – their stated maximum is $80,000.

What loan terms does St.George offer for car loans?

St.George offers terms ranging from one to five years for its fixed-rate car loans and terms ranging from one to seven years for its variable rate car loans.

What are the fees on St.George car loans?

There are a number of fees to be aware of when taking out a car loan with St.George at the time of writing:

  • $195 establishment fee
  • $12 monthly administration fee
  • $10 per redraw (only applicable for variable-rate car loans)
  • $9 direct debit dishonour fee
  • $150 early repayment fee if you repay the loan within the first 12 months (break costs also apply to early repayment of a fixed-rate loan)
  • $100 early repayment fee if you repay the loan after the first 12 months but before the end of the loan term (as mentioned, break costs will also apply if your loan has a fixed-rate)

How to apply for a St.George car loan

You can for a St.George personal loan via its website. But before committing, you may want to consider comparing your personal loan options with Canstar.

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When applying for a personal loan with St.George (or most providers in Australia for that matter), you generally need to meet the following criteria:

  • The car or motorcycle must be for personal use
  • You must be 18 or over
  • You must be a permanent Australian resident or valid work visa holder
  • Currently employed with a stable income
  • Have a good credit rating and not be bankrupt

In addition, you may also have to meet the minimum loan amounts specified by the provider (see above). If done online, St.George says the application process can take as little as 5 minutes for existing customers and 10 minutes for new customers, provided you have everything on hand. You may need to provide documents and ID such as:

  • A current driver’s license
  • Details of your current and previous (if applicable) employer
  • Details of your income, assets, expenses and liabilities
  • Previous tax returns if you are self-employed

You may also require your current account number for St.George if you’re an existing member.

About St.George

St. George is best known as the bank with the dragon logo. It was founded in 1937 in the suburbs of Southern Sydney as a co-operative building society. It achieved full banking status in July 1992 and now says it has over 2.6 million customers in Australia. In 2008, St. George became part of the Westpac Group.

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Written by: Nina Tovey | Last updated: June 12, 2019