ING vs Great Southern Bank
Both lenders side by side, using only what each publishes on its own website. Full detail and sources sit in the standalone reviews: ING and Great Southern Bank.
| ING | Great Southern Bank | |
|---|---|---|
| Advertised rates | 6.19% - 19.99% p.a. fixed (unsecured personal loan, priced across five published Equifax credit-score tiers from Outstanding to Satisfactory; ING finances cars through this product, there is no secured car loan) | 6.49% - 13.19% p.a. fixed (secured car loan, vehicles up to 7 years old); Green Car Loan 6.09% - 12.44% for electric/hybrid; unsecured personal loan 7.49% - 20.19%; unsecured green personal loan 6.49% - 19.44%. All personalised to the borrower's profile |
| Comparison rate | 7.03% - 20.78% (based on $30,000 over 5 years) | 6.63% - 13.34% (car); 6.23% - 12.59% (green car); 7.49% - 20.19% (unsecured) |
| Approval speed | About 20 minutes to complete the online application; existing ING customers can have funds in their Orange Everyday the same day they accept the contract | 60-second rate estimate with no credit score impact, about a 10-minute application, and loans usually funded within 24 hours of acceptance |
| Best suited for | PAYG employees with a good credit score wanting an unsecured fixed-rate loan of $5,000 - $60,000 with free extra repayments and no early payout cost, priced by published credit-score tiers | borrowers who want a fixed-rate car or personal loan from a customer-owned bank with no monthly fees and free early payout, especially electric or hybrid buyers using the discounted Green Car Loan |
| Fees | $199 establishment fee; $8 monthly loan service fee; $30 late payment fee; $0 early repayment fee; $7 interim statement fee per statement | $225 establishment fee, currently waived for applications before 29 September 2026; $0 monthly account fee; $0 early payout fee and free unlimited extra repayments; $100 securities administration fee on secured loans; $22 arrears letter fee |
| Credit profile fit | Each loan gets a personalised fixed rate tied to the applicant's Equifax credit score across five published tiers, with the 6.19% floor going to Outstanding scores. Published eligibility: 18+, Australian or NZ citizen or permanent resident with an Australian address, good credit rating, and minimum $36,000 annual PAYG income. Not available to self-employed applicants; casual and contract employees are capped at $30,000. | Rates are personalised within the advertised ranges based on credit score, application information, existing loans and repayment capacity. Published eligibility: permanent Australian residents 18+, regular income, and no bankruptcy or insolvency in the last 5 years. Funds are deposited to a Great Southern Bank account, which is required. |
Rates and fees current as at 13 Aug 2026. Rates and fees are subject to change by the lender at any time.
*The comparison rate is based on the lender's published example and is true only for that example. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
ING: strengths and trade-offs
- + Free early payout and unrestricted extra repayments
- + Competitive 6.19% floor rate for strong credit profiles
- + Transparent tiered credit-score pricing published up front
- - $199 establishment fee plus $8 monthly service fee
- - Not available to self-employed borrowers; casual and contract workers capped at $30,000
Great Southern Bank: strengths and trade-offs
- + No monthly fees, no early payout fee, unlimited extra repayments with redraw
- + $225 establishment fee waived until 29 September 2026
- + Green Car Loan from 6.09% p.a. for EVs and hybrids
- - Risk-based pricing: unsecured rates can reach 20.19% p.a.
- - Secured car loans limited to vehicles up to 7 years old, plus a $100 securities fee
Neither lender is ranked or recommended over the other. Rates are personalised, so the better lender for you depends on your profile; a Loanseekers enquiry compares both, and the rest of our 70+ lender panel, without affecting your credit score.
Ready to check your finance options?
Compare options through 70+ lenders. Fast online enquiry, no obligation, no impact on your credit score to enquire.