ANZ Personal Loans Comparison & Reviews

With over 180 years of proud heritage behind them, the ANZ bank operates in 34 global markets with representation in Australia, America, Europe, Pacific, Asia, Middle East and New Zealand. The ANZ is one of the top 4 banks of Australia and offers a diversity of different products, including personal loans which can cater to everyone’s needs.

Types Of Loans

The ANZ is proud to offer its customers a large variety of personal loans which are suitable for many things. These personal loans include:

• ANZ Variable Rate Loan – The ANZ variable rate loan is ideal for those who want to renovate, travel, buy a car and consolidate a debt. This personal loan gives you the freedom to pay your loan off sooner and offers a flexibility to increase your loan amount. Same day cash is available if you’re approved before midday each business working day. Borrowing amount ranges from $5,000 to $75,000 depending on your finances. Loan term is 1 to 7 years.
• ANZ Fixed Rate Personal Loan – The ANZ fixed rate personal loan is perfect for those who want to know what their weekly payment is while being protected from interest rate movements. This personal loan gives you control of your budget, and features a borrowing amount of $5,000 to $75,000 depending on your financial situation. This loan is ideal for renovations, buying a car, travelling, or paying off a debt. Loan term is 1 to 7 years.
• ANZ Secured Car Loan – The ANZ secured car loan is tailored for those looking to purchase a car. This loan may be offered at a lower interest rate as the car will be the security for the loan. With fixed payments you can easily manage your money easier to suit your budget. Loan term is offered at 1 to 7 years. Borrowing amount ranges from $7,500 and up. Higher amounts will be assessed on your financial situation.
• ANZ Assured Overdraft – The ANZ Assured Overdraft is a feature that can come with your eligible everyday account. This overdraft allows you to gain additional funds to cover declined transactions and unexpected expenses. You will be eligible for a $500 to $1,000 credit limit depending on your situation.
• ANZ Personal Overdraft – The ANZ Personal Overdraft is suitable for helping to cover any costs you may incur throughout your life. Minimum line of credit starts with $1,000 with no fixed repayments. With this overdraft you only pay interest on the money that’s used.

Main Features Of ANZ Personal Loans

ANZ personal loans are designed to provide funds when you need them most. Some of the main features of these personal loans include:

ANZ Variable Loan:

• Extra Repayments – You can make extra repayments at any time during the loan period.
• Flexibility – You have the flexibility to increase your loan amount when you need more money. (Conditions Apply).
• Easy Access – Provides fast and easy access on any extra money you’ve already paid.

ANZ Fixed Rate Personal Loan

• Fixed Repayments – You have security in knowing that your repayments won’t change throughout the loan period.
• Same Day Funds – If you apply before midday, Monday to Friday, you will be eligible for same day funds.
• Easy Management – You can easily manage your money and loan without having to worry about changing interest rates.

Unsecured Car Loan

• Repayments – Your repayments won’t change throughout the loan period.
• Interest Rate – You have security that the interest rate won’t change during the loan period.
• Lump Sum Payment – You have the option of making a lump sum payment to pay your loan off faster.

ANZ Assured Overdraft

• Manage Your Costs – You can use the money to help manage additional costs like transaction fees.
• Interest – You only have to pay interest on what you use.
• Easy Access – You can add your overdraft to your ANZ Access Select, ANZ One, ANZ Access Advantage, and ANZ everyday accounts.

ANZ Personal Overdraft

• Repayments – You don’t have any fixed payments allowing you to pay it back when it suits you.
• Easy Access – You can access your money through the ANZ branch, internet banking, EFTPOS, ANZ ATM’s and goMoney
• Interest – You only have to pay interest on what you use from the overdraft.

Pros/Cons Of Personal Loans

ANZ personal loans, like all other bank loans, offer their share of pros and cons. These include:

ANZ Variable Loan

Pros:

• Same day cash when you apply Monday to Friday before midday.
• Gives you the freedom to easily pay your loan off a lot sooner if needed.
• Lower interest rate compared against other interest rates.
• You have the option of borrowing between $5,000 to $75,000.
• Loan term ranges between 1 to 7 years
• Suitable for repaying debts, buying a car, travelling, or renovating.

Cons

• Loan approval fee: $150
• Loan administration fee: $10 per month

ANZ Fixed Rate Personal Loan

Pros:

• Suitable for repaying debts, travelling, buying a car, or renovating.
• You have more control over your budget throughout the repayment term.
• You have access to same day cash if you’re approved before midday, Monday to Friday.
• You have the convenience of managing your loan online.
• You have security that your repayments won’t change.
• Interest rate is lower than comparison interest rates.
• Borrowing amount ranges from $5,000 to $75,000
• Loan term ranges from 1 to 7 years.

Cons:

• Loan approval fee: $150
• Loan administration fee: $10 per month.

ANZ Unsecured Car Loan

Pros

• You may be eligible for a lower interest rate.
• You can budget better with fixed repayments that won’t change.
• Interest rate won’t move when changes occur.
• You have the ability to make a large once off payment to pay your loan off faster.
• Loan term is 1 to 7 years.
• You can use the loan to buy a car, caravan, truck, or motorbike.
• You can borrow more for other car costs.
• Borrowing amount starts at $7,500

Cons:

• Loan approval fee: $350
• Loan administration fee: $5 per month.

ANZ Assured Overdraft

Pros:

• This overdraft is an eligible feature of your everyday account.
• You can gain access to additional fund to cover declined transactions or unexpected expenses.
• Credit limit ranges between $500 to $1,000
• You don’t have a fixed repayment amount.
• Only pay interest on any money that you use.
• You can easily manage your own cost to help avoid fees.

Cons:

• Monthly fee: $60

ANZ Personal Overdraft

Pros:

• Gives you the means of having extra cash when you need it most.
• Comes as a feature with your everyday account.
• You don’t have any fixed repayments so you can pay it off when it suits you.
• Only pay interest on the amount you use.
• You have easy access to your money in the same way you normally bank with your accounts.
• Borrowing amount ranges from $1,000 and up.

Cons

• $50,000+ Credit Limit – $500 loan approval fee
• $20,000 – 49,999 Credit Limit: $200 loan approval fee
• Under $20,000 Credit Limit – $100 loan approval fee
• Under $20,000 Credit Limit – $50-$100 credit facility fee
• $20,000+ Credit Limit: 1.7% to 2.6% credit facility fee

 

Borrowing Criteria For ANZ Personal Loans

• Be an Australian citizen.
• You must have a good credit rating.
• You must be able to afford the loan repayments.
• You must be 18 years or older to apply.
• You must have an ongoing and regular wage or income.

How To Apply For ANZ Personal Loans

Applying for a ANZ personal loan is easier than you may think. You can apply for an ANZ personal loan by:

• Providing your employment and income details.
• Providing proof of any financial commitments you still owe.
• You ANZ customer registration number of account number
• Driver’s license

Other Products Provided By ANZ

Home Loans – The ANZ offers a great diversity of home loan options to choose from to cater for everyone. With fixed to variable home loans with competitive rates you can easily buy your dream home. Borrowing amounts depend on your financial situation.

Credit Cards – The ANZ can provide you with a great range of credit card options to choose from. From frequent flyers, low interest rate, platinum, and rewards cards, there is always something that is suitable for you.

Insurance – The ANZ is capable of catering for all your insurance needs. Whether you need home insurance, car insurance, life insurance, repayment insurance, or travel insurance, the ANZ has you covered.

Bank Accounts – The ANZ offers a great diversity of bank account options that can suit everyone. Their bank account options include savings accounts, everyday accounts, and term deposit accounts. No matter what you use your account for, ANZ has the right one for you.