Greater Bank Personal Loans

Greater Bank is a customer-owned bank that offers similar services to the big banks, but doesn’t pass on profits to shareholders.

Founded in 1945, the bank was previously known as the Greater Bank Building Society.

Greater Bank’s headquarters is in Hamilton, New South Wales. It has almost 100 branches plus mobile lenders across NSW and south-east Queensland.

Customers get free access to Westpac Group ATMs.

Greater Bank has more than 250,000 customers and assets worth over $6 billion.

Greater Bank personal loan repayment calculator

Thinking about taking out a personal loan with Greater Bank? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Greater Bank personal loan compare with various products.

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Loan Term

years

Repayment Frequency

Greater Bank Personal Loans

Features of Greater Bank personal loans

Personal loan amount

  • Secured personal loans of $5,000 - $100,000
  • Unsecured personal loans of $5,000 - $50,000

Interest rates

Greater Bank offers only fixed-rate loans. Secured personal loans have lower interest rates than unsecured personal loans.

Personal loan terms

  • Secured personal loans for one to seven years
  • Unsecured personal loans for one to five years

Repayment options

  • Weekly, fortnightly, monthly
  • Additional payments can be made without penalty
  • The loan can be paid off early without penalty
  • Free redraw facility available

Fees

  • Establishment fee charged
  • Extra administration fee charged if using a property as collateral
  • No monthly fees

Approval process

As long as your documents are in order, you can be approved within 24 hours of applying for a Greater Bank personal loan.

Greater Bank personal loans – customer service

Greater Bank has almost 100 branches across New South Wales and south-east Queensland, which is the largest branch network of any Australian building society. Customers can also get face-to-face assistance from a team of mobile lenders. Contact can be made the following ways:

  • Branch - 9am-5pm AEST Monday to Friday, 9am-12pm Saturday
  • Phone - 8am-5:30pm AEST Monday to Friday, 8am-1pm Saturday
  • Live chat - 8am-7pm AEST Monday-Friday
  • Email
  • Post

Who is eligible for a Greater Bank personal loan?

To be eligible for a Greater Bank personal loan you must:

  • Be at least 18 years old
  • Be an Australian resident or permanent resident
  • Have a satisfactory credit history

How to apply for a Greater Bank personal loan

You can either submit an online application or apply for a personal loan in a branch.

To fill in a Greater Bank personal loan application, you’ll need to have the following information and documents on hand:

  • Personal information (name, date of birth, address, email, phone number)
  • ID (driver’s license or passport)
  • Employment details (including your employer’s name, address and contact number)
  • Proof of income (two payslips)
  • Three months of bank statements
  • Proof of current loan repayments and any other payments you make
  • Credit and store card limits
  • Proof of the total value of your assets

If you receive child support, rental income or a family tax benefit, you will be required to submit additional documentation.

Greater Bank personal loans review

Greater Bank has several features on its personal loans that might suit many customers.

These include a free redraw facility, no monthly fees and the ability to make extra repayments or pay the entire personal loan off early without penalty.

Greater Bank has both secured and unsecured personal loans. A secured personal loan lets you use an asset as security, and Greater Bank allows customers to borrow 120 per cent of the value of the security. The interest rates on secured personal loans are moderately low compared to other lenders.

Unsecured loans have no collateral. Greater Bank won’t let you borrow as much and will also charge a higher interest rate than for a secured loan. Compared to other lenders, the unsecured interest rate is moderate.

Personal loans with Greater Bank would not suit customers looking to borrow just a small amount, as the minimum amount is $5,000.

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