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Interest Rate (p.a.): 11.59%
Comp. Rate (p.a.): 12.63%
Min Loan Amount: $3,000

Summary

Borrow from $3,000 up to $30,000 with terms up to 7 years. Interest rate charges and establishment fees apply.

The Gateway Bank Variable Rate Personal Loan has a minimum borrowing limit of $3,000 and a maximum of $30,000. They offer terms up to 7 years. As this loan has a variable interest rate, your monthly repayments will fluctuate based on market interest rates. It can either reduce or increase, based on the market. This loan comes with a redraw facility, no monthly or annual fees and doesn’t charge for additional repayments or for exiting the loan early. The interest rate starts from 11.59% p.a., with a comparison rate of 12.63% p.a. An establishment fee of $149 applies.

Pros

$0 account keeping fee to pay
No penalty for additional repayments

Cons

Minimum loan amount of $3,000
There is a minimum redraw amount

Details

Product details

Product Name	Gateway Personal Loan - Variable Rate
Interest Rate (p.a.)	11.59%
Comp. Rate (p.a.)	12.63%
Interest Rate Type	Variable
Min Loan Amount	$3,000
Max. Loan Amount	$30,000
Loan Security	Unsecured

How to apply

To get your own Gateway Bank Variable Rate Personal Loan, click 'Go to Site'. To be considered for this loan you must meet the following requirements:

You must be an Australian resident.
You must have a good credit rating.
You must be at least 18 years old.

You will need to have the following documentation and details ready to complete your online application:

Most recent payslip
Details of any other income or assets
Monthly expenses
Any other loans or forms of credit
Driver's licence details
Employment history for the past three years
Residential history for the past three years
A personal reference

With plenty of features and a competitive interest rate, the Gateway Bank Variable Rate Personal Loan is worth considering. If you've compared your options and decided this is the right loan for you, apply today.

Things to consider about Gateway Bank Variable Rate Personal Loan

Some personal loans are more flexible than others, and allow you to use the loan amount to finance the things you need. The Gateway Bank Variable Rate Personal Loan is a simple loan with plenty of features. There are no monthly fees, you can choose from the range of loan amounts that are available, you can take advantage of flexible repayment options and there are no restrictions on additional repayments.

Gateway Credit Union also offers home loans, car loans and funeral loans, along with a Fixed Rate Personal Loan, if you're looking for a different borrowing option.

Features of this loan

Variable rate. Enjoy a competitive variable rate of 11.59% and a comparison rate of 12.63% The variable rate can help you save money when you take advantage of low market interest rates.
Additional repayments. The Gateway Bank Personal Loan allows you to make additional repayments on your loan with no restrictions. This way you can pay off your loan faster and save on potential interest costs.
Loan amount. This personal loan offers a minimum loan amount of $3,000 and a maximum of $30,000.
Loan term. For the Variable Rate Personal Loan, the loan term is up to 7 years to give you the time you need to pay back the loan.
Redraw. With this loan you can make additional payments and then access these funds when you need them the later on. The minimum redraw amount is $250.
Online application. Applying for the Variable Rate Personal Loan is made easy with the online application process.

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NOW Finance No Fee Unsecured Personal Loan Finder award winner Fixed18 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
MONEYME Personal Loans Variable3 - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 6.74% to 25.49%	Comp. Rate (p.a.) 8.13% to 26.88%	Application Fee $395 - $495	Monthly Fee $10	Monthly Repayment $947.98	Go to site More Info Compare	Homeowners can unlock lower interest rates (depending on your credit score).
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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.) 10.93% to 31.38%	Application Fee $0	Monthly Fee $13	Monthly Repayment $973.85	Go to site More Info Compare	Special offer: $395 establishment fee waived for approved personal loan applications for a limited time. 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.) 9.52% to 21.38%	Application Fee $0	Monthly Fee $15	Monthly Repayment $961.89	Go to site More Info Compare	Special Offer: For a limited time NAB is waiving the $250 application fee when you apply for a NAB Unsecured Personal Loan. Offer valid from 6 March to 31 May 2025. Other fees and charges still apply.
OurMoneyMarket Secured Personal Loan ($5,000-$75,000) Fixed1 - 7 Years $5,000 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee 1.50% - 6% min. $250	Monthly Fee $0	Monthly Repayment $934.23	Go to site More Info Compare
OurMoneyMarket Home Improvement Loan Fixed1 - 7 Years $5,000 - $100,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee 1.50% - 6% min. $250	Monthly Fee $0	Monthly Repayment $934.23	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.) 9.52% to 21.38%	Application Fee $0	Monthly Fee $15	Monthly Repayment $961.89	Go to site More Info Compare	Special Offer: For a limited time NAB is waiving the $250 application fee when you apply for a NAB Unsecured Personal Loan. Offer valid from 6 March to 31 May 2025. Other fees and charges still apply.
ANZ Variable Rate Personal Loan Variable1 - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 7.49% to 19.99%	Comp. Rate (p.a.) 8.18% to 20.58%	Application Fee $150	Monthly Fee $10	Monthly Repayment $947.71	More Info Compare	Special Offer: Until 13 April, eligible borrowers of an ANZ personal loan can get $250 cashback and $150 application fee waived. Terms and conditions apply.