Great Southern Bank review
Bank
Best suited for 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
Loanseekers is a broker, not a lender, and may receive commission from lenders on our panel. This does not change what you pay. See our Credit Guide.
Advertised rates
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 6.63% - 13.34% (car); 6.23% - 12.59% (green car); 7.49% - 20.19% (unsecured)*
Approval speed
60-second rate estimate with no credit score impact, about a 10-minute application, and loans usually funded within 24 hours of acceptance
Credit-profile fit
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.
Pros & cons
Pros
- 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
- Rate check in 60 seconds without touching your credit score
- Usually funded within 24 hours of acceptance
Cons
- 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
- A Great Southern Bank account is required to receive funds
- Fixed rate only, no variable option
Key features
- Borrow $5,000 - $100,000 secured or $5,000 - $75,000 unsecured over 1 - 7 years, all fixed rate
- Green Car Loan discount for electric and hybrid vehicles up to 7 years old, including home EV charger financing
- Unsecured green personal loan for solar, batteries, hot water and insulation upgrades
- Unlimited fee-free extra repayments with free redraw
- 60-second personalised rate estimate with no credit score impact
- Customer-owned bank, profits returned to customers rather than shareholders
Fees
- $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
Frequently asked questions
Who is Great Southern Bank best suited to?
Based on our review, Great Southern Bank is best suited for 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.
What are Great Southern Bank's rates?
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. Rates and fees are current as at 13 Aug 2026 and are subject to change by the lender at any time.
What fees does Great Southern Bank charge?
$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.
How fast is Great Southern Bank's approval?
60-second rate estimate with no credit score impact, about a 10-minute application, and loans usually funded within 24 hours of acceptance.
What credit profile does Great Southern Bank accept?
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.
How do I apply through Great Southern Bank?
Start a Loanseekers enquiry and we compare Great Southern Bank against 70+ lenders for your situation. The initial check does not affect your credit score, and our specialists manage the application to settlement.
See if Great Southern Bank suits your situation
One enquiry compares Great Southern Bank against 70+ lenders for your exact position. No obligation, no impact on your credit score to enquire.
This is general information only, not personal advice; we have not considered your objectives, financial situation or needs. Loanseekers is a broker, not a lender, and may receive commission from lenders on our panel. This does not change what you pay. Approval is subject to lender criteria. See our Credit Guide.
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.
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