Summary

Borrow between $5,000 and $50,000. Loan approval fees and administration fees apply.

Special Offer: For a limited time, eligible borrowers of an ANZ personal loan can get $250 cashback and $150 application fee waived. Terms and conditions apply.
To be eligible you must be applying for a new personal loan or applying for an increase to an existing loan. You must apply before 16 January and draw down the funds to be eligible.
Cashback will be paid into the transaction account the loan is paid into within 120 days of draw down.

With ANZ’s variable rate personal loan, you can make extra repayments for free and redraw these payments for no charge. This is a variable rate loan, which means that your repayments could change on a monthly basis. Interest rates start from 7.49% p.a., with a comparison rate of 8.18% p.a. You will also be charged a loan approval fee of $150 and a recurring administration fee of $10 per month, charged at the end of each quarter.

Pros

No penalty for extra repayments
Available to self-employed borrowers
Access extra repayments with a redraw facility

Cons

$10 per month fee, charged at the end of each quarter
$150 application fee

Details

Product details

Product Name	ANZ Variable Rate Personal Loan
Interest Rate (p.a.)	7.49% to 19.99%
Comp. Rate (p.a.)	8.18% to 20.58%
Interest Rate Type	Variable
Min Loan Amount	$5,000
Max. Loan Amount	$50,000
Loan Security	Unsecured

How does the ANZ Variable Rate Personal Loan work?

The ANZ Variable Rate Personal Loan has a redraw facility and early repayment options. As this is an unsecured personal loan, you won't need to use any assets as security. For those who want the consistency of knowing exactly how much to budget for each month, ANZ also offers a fixed rate option.

If approved, the interest rate you receive will depend on ANZ's credit assessment criteria, based on information in your credit report including your credit score. The interest rates shown are the minimum and maximum rates for this product, and the actual interest rate you receive will be finalised in your letter of offer. Eligibility criteria, T&Cs, fees and charges apply.

How to apply

To get approved for a Variable Rate Personal Loan from ANZ, click 'Go to Site' to be transferred securely to ANZ's online application form. Make sure you meet the criteria below.

Eligibility criteria

To meet the minimum criteria you must:

Be at least 18 years of age
Currently reside in Australia. If you are not a permanent resident you may still be eligible, but you will need to meet specific visa and income verification requirements.
Have a regular income
Have a good credit rating
Be looking to borrow at least $5,000

Documentation required

Current driver's licence
Current and previous employer's address
Details of your income, assets, expenses and liabilities
Your ANZ account number if you are a customer

It's important to compare the features you want for in a personal loan before making a final decision.

Features of this loan

Special Offer. Until 16 January, eligible borrowers of an ANZ personal loan can get $250 cashback and $150 application fee waived. Terms and conditions apply.
Variable rate. A variable interest rate from 7.49% p.a. to 19.99% p.a. (Comparison rate of 8.18% p.a. to 20.58% p.a.) - meaning your interest rate could increase or decrease depending on the market.
Loan term. The loan term is flexible and you can choose a period from 1 to 7 years.
Loan amount. The minimum loan amount is $5,000 and the maximum loan amount you can borrow is $50,000.
Repayment options. You can make extra repayments for free. This will help you pay off your loan faster and save on interest.
Redraw facility. If you are ahead on your payments you can access the extra money you've paid to spend on whatever you like. It can be transferred to your ANZ account instantly with no extra cost or approval needed.

How much does the ANZ Variable Rate Personal Loan cost?

Loan approval fee. You'll need to pay $150.
Administration fee. You'll be charged a fee of $10 per month, charged at the end of each quarter.
Late payment fee. You'll need to pay a fee of $20.

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NOW Finance No Fee Unsecured Personal Loan Finder award winnerFixed18 Months - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 6.75% to 26.95%	Comp. Rate (p.a.) 6.75% to 26.95%	Application Fee $0	Monthly Fee $0	Monthly Repayment $922.89	Go to site More Info Compare
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Harmoney Unsecured Personal Loan Finder award winnerFixed3 - 7 Years $2,000 - $70,000	Interest Rate (p.a.) 5.76% to 24.03%	Comp. Rate (p.a.) 6.55% to 24.98%	Application Fee $275 - $575	Monthly Fee $0	Monthly Repayment $926.83	Go to site More Info Compare
Latitude Variable Rate Personal Loan Variable2 - 7 Years $5,000 - $70,000	Interest Rate (p.a.) 9.49% to 29.99%	Comp. Rate (p.a.) 10.37% to 30.69%	Application Fee $0	Monthly Fee $13	Monthly Repayment $973.85	Go to site More Info Compare	Special Finder offer: $395 establishment fee waived for approved personal loan applications submitted through Finder. Latitude may withdraw offer at any time. T&Cs apply.
NAB Personal Loan Unsecured Fixed Fixed1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 8.49% to 20.49%	Comp. Rate (p.a.) 9.88% to 21.78%	Application Fee $250	Monthly Fee $15	Monthly Repayment $969.78	Go to site More Info Compare
NAB Personal Loan Unsecured Variable Rate Variable1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 8.49% to 20.49%	Comp. Rate (p.a.) 9.88% to 21.78%	Application Fee $250	Monthly Fee $15	Monthly Repayment $969.78	Go to site More Info Compare