Why use the personal loan borrowing calculator?
This calculator gives you a good estimate of how much you could afford to borrow for a personal loan. You’ll also get an estimate of the interest rate and repayment amount you could expect. It only takes a minute. Just pick your preferred personal loan, enter your income, expenses and what you think your credit rating might be. The personal loan borrowing calculator does the rest.
How much can I borrow for a personal loan?
The results from this calculator should be used as an indication only. The actual amount you can borrow may vary depending on factors including your verifiable net income, other debts or liabilities you have and the number of dependents you have. Lending is to approved applicants only and all lending is subject to a detailed credit assessment.
The calculations do not include upfront or continuing credit fees and charges and do not constitute a loan application or variation to an existing facility, loan offer or loan approval.
The repayment calculations provided are estimates only and are based upon the information entered by the user.
Your contracted personal loan repayments will be set to a monthly frequency, meaning you will need to meet the agreed repayment amount by the due date stated on your loan contract each month. To meet this minimum monthly amount, you can however make repayments weekly or fortnightly.
This is general information and does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting on it.
Unsecured Fixed Personal Loan
An ideal loan for many purposes, such as debt consolidation, home improvements, new or used cars and motorbikes of any age, boats, caravan and more.
Secured Fixed Car Loan
For buying or refinancing a new or used car or motorbike up to seven years old.
Green Car Loan
For buying or refinancing an electric or hybrid car up to seven years old.
Unsecured Green Personal Loan
For eligible green purchases, including solar panels, battery packs, solar hot water systems and hot water heat pump systems.
Simply request a copy of your credit report from Equifax (previously known as Veda).
Your credit score is a number used by lenders to assess how likely you are to repay a loan. Your score is based on the information in your credit report, including:
- How you've managed previous loan and credit card repayments.
- How many loan applications you've made in the past.
- The age of your credit file.
Learn more with our guide to Understanding our personal loan interest rates.
It should take 10 minutes. Simply check if you qualify and begin the application process.
If approved, you will receive your loan contract to accept online.
Your loan is paid into your Great Southern Bank Account.3 You can also view repayment details online and on our mobile banking app.
Why choose Great Southern Bank?
For one thing, we're customer-owned. That means no shareholders, so all our profits go into creating new and clever ways to help you manage your money.
It also means we're able to focus squarely on our mission to empower ordinary Australians to reach their financial goals, whatever they may be.
We believe being owned by the people you help is a more transparent way of doing things and how all banks should work.
Borrowing power explained
The minimum amount you can borrow is $5,000. The maximum amount depends on the type of personal loan you choose. For example, you may be able to borrow up to $100,000 with a Secured Car Loan and $75,000 with an Unsecured Fixed Personal Loan.
The maximum amount you can borrow also depends on your financial situation. We take into account your income, expenses and any other loans you may have.
For a quick estimate of your borrowing capacity, simply use our personal loan borrowing calculator.
A personalised interest rate is an interest rate based on an assessment of your credit score. If you have an excellent credit score and a good history of repaying loans, credit cards and other bills, you’ll likely be offered a lower interest rate.
When you apply for a personal loan your individual situation and your credit score will be considered when calculating your personalised interest rate.
Knowing your credit score will help you estimate your personalised interest rate. It’s also another way to get clever with your finances.
Checking your own credit report won’t hurt your scores. Some credit reporting agencies have a limit on the number of free credit checks you can make within a certain period of time. Don’t forget to ask before you apply.
At Great Southern Bank we have a variety of loans for a variety of purposes. These are:
- Unsecured Fixed Personal Loan - This loan can give you the funds for almost anything you like - including home renovations, used cars, debt consolidation, weddings and holidays.
- Secured Fixed Car Loan - Available for cars and motorbikes up to seven years old.
- Unsecured Green Personal Loan - Invest in a green product such as solar panels and battery, heat pump or solar hot water system for your home. This loan offers competitive rates and helps you reduce your carbon footprint.
- Green Car Loan -This loan can help you buy an electric or hybrid vehicle.
Unsure which loan to choose? Message us on live chat or give us a call on 133 282.
Loans are issued by Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions, and fees apply.
Rates current as at 13 November 2024 and subject to change.
Your loan contract will state the minimum monthly repayment amount. You can arrange with us to make repayments on a weekly or fortnightly basis.
1. Comparison rate examples are accurate for a personal loan amount of $30,000 secured loan over a term of 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
2. Comparison rate examples are accurate for a personal loan amount of $30,000 unsecured loan over a term of 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
3. You will need to hold a Great Southern Bank everyday account when the loan is funded.
*The rate you are offered is calculated based on your personal circumstances and credit history. A few different factors are considered, including:
- Your credit score.
- Information provided in your application.
- Existing loans.
- The loan amount and your perceived ability to repay the loan.
Your personalised rate won’t be confirmed until you receive an offer from us (if approved) and is subject change before your loan settles.
Who can apply?
- Permanent Australian residents aged 18 years or over
- You must receive a regular income
- Have had no bankruptcy or insolvency in the last 5 years
You will need:
- Proof of identity (such as a drivers licence)
- Employment and income details (such as a payslip)
- Expenses and debt details