ANZ offers several personal loans, including a variable rate loan, fixed rate loan, secured car loan and overdrafts. Loan amounts range from $5000 to $50,000, and borrowers can choose a loan term between one and seven years. While there are no exit fees if you pay your loan off early, some ANZ personal loans come with ongoing fees and a one-off administration fee. In some circumstances, borrowers can increase their loan amount after approval.

Borrowers with existing ANZ everyday accounts may be eligible for same-day cash if the loan is approved in-branch.

ANZ personal loans can be used for a range of different purposes including:

• Debt consolidation
• Buying a car
• Renovations and home improvement
• Travel and holidays
• Weddings and other occasions

Borrowers wishing to apply for an ANZ personal loan can do so online, over the phone or through an extensive national network of branches. Customers can contact ANZ via email and online. Borrowers can also contact customer service via:

• Online banking
• Email
• Mobile app
• Phone, Monday to Friday, 8am to 8pm (AEST)

Who is eligible for an ANZ personal loan?

Borrowers must meet the following criteria to qualify for an ANZ personal loan:

• Be at least 18 years old  
• Earn a minimum of $15,000 per annum   
• Be an Australian citizen, permanent resident or have a valid visa
• Have a regular income
• Have a good credit rating
• Use the loan for personal use only

Applications for an ANZ personal loan can be completed online or in-branch. Applying online is simple, takes around 20 minutes to complete, and involves the following steps:

• Select the ANZ personal loan you want to apply for
• Enter your income and expenses
• Do the sums on your loan and estimate your repayments
• Get the result of your application

Once you’ve submitted your application, you’ll receive confirmation. If your application is successful, you’ll receive a Letter of Offer confirming your interest rate, amount and loan term before receiving the funds.

ANZ’s range of personal loans are likely to appeal to many borrowers, given the flexible repayment conditions, variety of loan amounts and purposes and low income threshold. Although they don’t come with penalties for early repayment, there are several fees associated with the loans, including a small ongoing fee and a moderate loan application fee.

The interest rate for standard loans ranges from moderate to moderately high. ANZ takes a number of factors into account when determining borrowers’ interest rates, and potential borrowers should note that the actual rate is not confirmed until after application.

Existing ANZ everyday account holders wanting to access quick cash may be eligible for same-day funds if the loan is approved in branch before midday, Monday to Friday.

When it comes to accessing additional funds, in some cases, borrowers may redraw additional loan repayments, and depending on the circumstances, you could apply to increase your loan amount after approval.