Great Southern Bank review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Great Southern Bank suits Australian borrowers who want one lender for a home loan and an unsecured personal loan, and who will accept mid-table pricing. The basic variable home loan starts at 6.04% and runs at an APRC of 6.1%, while the unsecured loan runs at 7.49% to 20.19%.

Key facts

Best for
An Australian borrower who wants a home loan and a fee-free unsecured personal loan from the same direct lender.
Initial rate
6.04% (Source, checked September 26, 2026)
APRC
6.1% (Source, checked September 26, 2026)
Maximum loan to value
95% (Source, checked September 26, 2026)
Product fee
A$600 (Source, checked September 26, 2026)
Purpose
Purchase, Remortgage, First-time-buyer, Buy-to-let (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Legal entity
Credit Union Australia Ltd (Source, checked September 26, 2026)
Headquarters
Australia (Source, checked September 26, 2026)
Support channels
Phone, Chat, Help-centre (Source, checked September 26, 2026)
Official website
greatsouthernbank.com.au

Loans

APR
7.49% to 20.19% (Source, checked September 26, 2026)
Loan amount
A$5,000 to A$75,000 (Source, checked September 26, 2026)
Term
12 to 84 months (Source, checked September 26, 2026)
Arrangement fee
$0 (standard $225 establishment fee waived for applications submitted before 23 February 2027) (Source, checked September 26, 2026)
Credit check
Hard (Source, checked September 26, 2026)
Representative example
Unsecured Fixed Personal Loan: comparison rate examples are accurate for a personal loan amount of $30,000 unsecured loan over a term of 5 years (Source, checked September 26, 2026)
Rate type
Fixed (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
18 years of age or over, permanent resident of Australia with an Australian residential address, regular income, no bankruptcy or insolvency in the past five years, meet credit lending policy (Source, checked September 26, 2026)
Loan types
Personal, Debt-consolidation, Car, Secured (Source, checked September 26, 2026)
Use cases
Home-improvement (Source, checked September 26, 2026)
Legal entity
Credit Union Australia Ltd (Source, checked September 26, 2026)
Headquarters
Australia (Source, checked September 26, 2026)
Support channels
Phone, Chat, Help-centre (Source, checked September 26, 2026)
Pricing model
Fixed rate

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaXLinkedInyoutube.com

Pros and cons

Pros

  • The unsecured fixed personal loan has a free arrangement fee, with the standard establishment fee waived during the promotion.
  • Personal loans run AUD 5,000 to AUD 75,000 at 7.49% to 20.19% over 12 to 84, with early repayments free.
  • Home loans reach a maximum loan to value of 95% for purchase, remortgage and first time buyer.
  • Regulated in Australia by the Australian Securities and Investments Commission, and lending comes direct as direct lender rather than through a broker.

Cons

  • Cost sits mid-table: the home loan APRC of 6.1% compares with a site median of 4.9%, and the site places the brand 95 on APRC.
  • The basic variable home loan adds an annual fee of AUD 600 on top of the borrowing cost.
  • Support runs on phone, chat and help centre only.
Great Southern Bank

Ready to try Great Southern Bank?

Scored 9.0 / 10 by BorrowCue.

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Who it suits

  • Australian borrowers folding existing balances together, since personal, debt consolidation and car covers debt consolidation alongside personal and car loans.
  • Anyone funding home improvement work, the stated use case being home improvement.
  • Borrowers who want to leave early without a charge, since early repayment is free on the unsecured personal loan.

Who should look elsewhere

  • Rate-first mortgage shoppers: Sofkredit quotes an initial rate of 8% to 14%, worth checking beside the 6.04% offered here.
  • Buyers chasing the lowest starting rate among these options: Prestalo opens at 2.36%.
  • Borrowers after a different home loan structure: Creditilia ES starts at 4%, where the home loan here is variable.

How Great Southern Bank compares

Where Great Southern Bank is available

Available
Australia
Licence in Australia
Australian Securities and Investments Commission (238317), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does Great Southern Bank charge on a personal loan?+

The unsecured fixed personal loan has a free arrangement fee while the standard establishment fee is waived. Interest runs at 7.49% to 20.19% on amounts of AUD 5,000 to AUD 75,000, with terms of 12 to 84. Early repayments are free, so clearing the balance ahead of schedule costs nothing.

Is Great Southern Bank regulated?+

It is regulated in Australia by the Australian Securities and Investments Commission and sits in Australia as AU. Lending comes direct as direct lender, so there is no broker layer between an application and the decision.

What is the home loan rate and how much can I borrow?+

The basic variable home loan starts at an initial rate of 6.04% with an APRC of 6.1%, and the maximum loan to value is 95%. Borrowing is available for purchase, remortgage and first time buyer.

What credit check does Great Southern Bank run?+

The credit check is hard, so an application shows on the credit record and can affect borrowing elsewhere. 72.7% of lenders on the site also run a hard check, which makes this mainstream rather than unusual.

Who can borrow from Great Southern Bank?+

Applicants must be adults, permanent residents of Australia with an Australian residential address, and have regular income. They also need a clear record, with no bankruptcy or insolvency in a waiting period, and must meet the bank's credit lending policy.

How do I get help from Great Southern Bank?+

Support runs on phone, chat and help centre, so you can call, chat or use the help centre. Phone is the main route, with chat and a help centre also covering both the personal loans and the home loans.

What can I use a Great Southern Bank loan for?+

The bank offers personal, debt consolidation and car loans, plus home loans for purchase, remortgage and first time buyer. Home improvement is the stated use case for the unsecured loan, home improvement, and debt consolidation sits in the same list.

Is a Great Southern Bank home loan good value?+

The APRC of 6.1% sits above the site median of 4.9%, and the initial rate of 6.04% is above the 4.35% median. The site ranks the brand 95 on APRC, so the appeal rests on the fee-free personal loan rather than the cheapest rate.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Fixed period.

Great Southern Bank

Great Southern Bank

An Australian borrower who wants a home loan and a fee-free unsecured personal loan from the same direct lender.

9.0/10See alternatives

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