Compare personal loan offers with Savvy, including those from ANZ, to see if they’re right for you before you apply.
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As one of Australia’s Big Four banks, ANZ retains significant name recognition around the country with products ranging from banking to home, personal and business finance to insurance and many more.
Because of this, they may be one of the first names you come across when seeking out the right personal loan to help you reach your financial goals, but you should always know all the key details of a finance offer before you apply.
Savvy is here to compare different personal loan offers and lenders to make it simpler for you to pick out the best deal for your situation, so you can start the process today to help you access your funds sooner.
*Please note that Savvy does not represent ANZ for their personal loan product.
You can take out a loan as small as $5,000 or as large as $50,000, making them suitable for a vast array of purposes, from buying new furniture to consolidating larger debts.
You won’t need to worry about putting up an asset to serve as collateral for your loan, as ANZ offers unsecured personal loans to provide you with greater flexibility.
On both the fixed rate and variable rate loans, interest rates start from 7.49% p.a. (8.18% comparison rate), which you may be eligible for depending on your credit score.
You can make use of early repayments on the variable rate loan offer, without incurring any extra costs – opening an avenue for you to cut down on your total interest costs and pay the loan off sooner.
When you make additional repayments, you can also gain access to these payments down the track through an attached redraw facility should you need any more funds.
On top of choosing your preferred loan term, you can decide whether to make your repayments on a weekly, fortnightly or monthly basis in line with what’s comfortable for you.
You’re given a great deal of choice when it comes to personal loans, as you can decide between locking in your loan’s rate from the beginning or leaving it open to fluctuation.
A feature to which many prospective borrowers would be drawn is the speed at which your application can be accepted and funded, being turned around in 24 hours or less.
While you can apply in your local ANZ branch, you can also do so online without having to worry about making the trip in to speak with one of their consultants.
Fixed rate loans may be subject to early repayment charges. On both types of loans, $20 will be charged on payments five or more days late, and $20 monthly until they are up to date.
You’ll be required to pay a loan approval fee of $150 as part of your agreement, as well as ongoing fees of $10 per month which can add up to hundreds of dollars.
If you’re wanting to apply with your partner jointly, you won’t be able to do so online, with ANZ requiring co-applicants to visit their nearest branch to commence the process.
While you can apply for finance either online, over the phone or in person, the process itself remains similar and relatively simple. You should always ensure that you have everything prepared in advance to avoid any potential hiccups or delays in the process, as well as know each step so that you aren’t hit with any surprises around the corner. Your unsecured personal loan application will be as follows:
Review the required eligibility criteria
Before you apply, double-check the qualification requirements to ensure your application can actually be considered by the lender. You’ll have to meet the following points:
Gather your documentation
Additionally, you should ensure you have all the required documents on hand to provide as part of your application, as preparing these in advance will expedite the process. These are:
Submit your application and receive an outcome
Once you have all of these, you can fill out the form on ANZ’s website and submit it to them for consideration. This is simple to complete and shouldn’t take you too long to do. From there, they’ll let you know whether your application has been successful and proceed if it was.
Supply any supporting documents and get approved
You may be required to supply some further supporting documentation once conditionally approved. If you do this and they’re happy with the application, you’ll be notified of your formal approval.
Sign your contract and receive your funds
You’ll be sent a loan contract to sign which sets your agreement in stone with ANZ. You’ll be required to sign and return this and, once you’ve done so, the funds can be transferred into your nominated account and you can use them however you wish.
Of course, it’s important to compare your options with Savvy before you apply with ANZ. We’re partnered with a variety of flexible lending partners who can provide you with the loan you’re looking for at affordable rates. Put yourself in a position to make the right call before you apply. You can even use our repayment calculator to help you estimate the cost of your loan before applying.
There are two personal loans offered by ANZ: fixed and variable rate finance.
Fixed rate loan
Offering an interest rate that is locked in from the outset of your loan, fixed rate personal loans can be a highly affordable source of finance. Budgeting is much more accurate with this type of loan. However, fees may apply if you decide to make additional payments to pay off your loan early.
Variable rate loan
Variable rate finance differs from fixed rates in a few key areas. While they can fluctuate, making budgeting more difficult, the flexibility in making extra payments to save money on your loan and the ability to redraw funds makes them the preferred choice for many borrowers.
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