St. George Bank Personal Loans

Both the secured and unsecured loans offer a term of 1-5 years for their fixed rate options and a term of 1-7 years for their variable rate options.

There are a number of fees to be aware of when taking out a personal loan with St. George Bank:

• Establishment fee – $195
• Administration fee – $12 per month
• Fees on early repayments
  • $150 fee if you pay the loan off in the first 12 months
  • $100 fee if you pay the loan off after the first 12 months but before the end of the loan term
• $10 redraw fee on variable loans
• $9 dishonour fee

See this article for look at the average fees currently charged by personal loan providers on the market (based on Canstar’s Personal Loans Star Ratings for November 2017) to see if St. George Bank’s fees are more or less what the average customer is paying.

Yes, St. George Bank personal loans require minimum monthly repayments, which vary depending on the loan and rate and can be viewed in the table above.

Applying for a St. George Bank personal loan is straightforward; you can do it online after visiting Canstar’s comparison tables. When applying for a personal loan with St. George Bank (or most providers in Australia for that matter), you generally need to meet the following criteria:

• You must be 18 years or older
• You must live in Australia
• You must be an Australian or New Zealand citizen
• Hold a regular income and good credit rating (see here for more info on how to get a good credit rating)
• Show an ability to afford your loan repayments
• Take out a loan of at least $2,000

If done online, the application process can take as little as 10 minutes, 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 Bank if you’re an existing member.

Best known as the bank with the dragon logo, St. George Bank was founded in 1937 in the southern suburbs of Sydney as a co-operative building society. Today they have over 2.6 million customers in Australia. In 2008, St.George Bank became part of the Westpac Group.

They achieved full banking status in July 1992 and two years later they led the way into the future by launching electronic banking for their business customers. Later St. George was the first bank to launch SMS Alerts in 2004.

St. George Bank supports the Australian community in many ways. They provide Disaster Relief Packages for affected customers, such as after the 2016 bushfires in Western Australia. They established the St.George Foundation in 1989 as a registered charity, and to date they have given more than $15 million for better quality of life for Aussie kids.

St. George has a charitable gift-matching program for their employees. Employees also receive one paid day of leave each year to volunteer for a worthy cause, and can choose to be involved as a mentor through NGOs, social enterprises, and Indigenous Enterprise Partnerships.

St. George protects the environment by providing interest-free loans of up to $4,000 per year to purchase and install environmentally-friendly modifications such as solar hot water systems and energy-efficient appliances. St. George also participates in Earth Hour each year.

Source: St. George Banking