What personal loans are on offer at ANZ?
|
Personal loan products |
Available at ANZ? |
|---|---|
|
Fixed rate personal loan |
✅ |
|
Variable rate personal loan |
✅ |
|
❎ |
|
|
✅ (Unsecured) |
|
|
❎ |
Personalised interest rates with ANZ
ANZ personal loans don’t have rates for specific products. Instead, there are lower and upper limits to the interest rate, and it is personalised for the individual customer. According to the ANZ website, stronger credit scores mean lower rates. If your credit history isn’t long enough, is weaker or you have made many applications over a short period of time, you could end up with a rate at the higher end of the range.
ANZ personal loan requirements
Non permanent residents
If you are a citizen or permanent resident of Australia, you shouldn’t have any problems applying for a personal loan with ANZ, providing your application is up to scratch. Those without permanent residency could still be eligible to apply for ANZ personal loans though. You need to have a valid visa, and verify your income. The following visas are acceptable:
-
Working visas including all subclasses of temporary visas that allow someone to work in Australia. This includes holders of skilled category visas, as well as some family category visas. However, if you hold a working holiday visa, you will be unable to take out a personal loan with ANZ.
-
Business visas including all temporary/provisional business visa subclasses that allow individuals to establish or manage a new or existing business in Australia, or invest. Typically, this includes business owner, senior executive or investor visas.
ANZ personal loan review
Cashback offers with ANZ personal loans
At the time of publication ANZ offers $500 cashback for customers who take out a new ANZ personal loan of more than $10,000, or increase their existing loan by this amount. This offer is limited to one per loan per customer in an 18 month period.
ANZ personal loan terms
ANZ have both fixed and variable rate personal loans available. Borrowers can access between $5,000 and $50,000 with an unsecured ANZ personal loan, with terms from 1-7 years. ANZ personal loans are always unsecured, and might be used for a car, debt consolidation or personal expenses like a holiday.
Applicants need to earn at least $15,000 per year, and could have to provide details about income, assets, expenses and other financial commitments.
ANZ personal loan fees
For ANZ personal loans, there is a $150 loan approval fee, then a $10 monthly fee debited every three months until the loan is closed. If a repayment isn’t made 5 days after the due date, a $20 late payment fee applies. Another $20 is charged each month until repayments are up to date.
If you pay off your fixed personal loan early, a $300 early repayment administration fee applies. Some products also incur early repayment costs for early or additional payments. For variable rate personal loans, there is no cost for extra repayments, nor for paying your loan back early.
