ANZ personal loans

Compare fixed rate and variable rate personal loans from ANZ.

By   |   Updated 19th July 2022

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Comparing ANZ personal loans for $20,000.00 over 36 months

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If you need to cover some big expenses, an ANZ personal loan may be the right choice for you. Personal loans are easy to apply for and can be used for several different reasons.

Types of ANZ personal loan

There are two different ANZ personal loan options to choose from: variable rate and fixed rate.

ANZ fixed rate personal loan

Fixed rate personal loans are a good option for anyone who likes to know exactly how much their repayments are going to be every month. Their main benefits are:

  • Fixed interest rate that won’t change
  • Knowing what repayments will be
  • Same day cash in your account if you are approved

ANZ variable rate personal loan

Variable rate personal loans offer you the option to adjust your personal loan’s terms, pay it off faster, and use a redraw facility. Features include:

  • A variable interest rate that can change over time
  • No early exit fees if you decide to pay your loan off early
  • A redraw facility to draw down any extra payments you have made
  • Cash in your account the same day if you are approved

What can an ANZ personal loan be used for?

ANZ personal loans can be used for a variety of different reasons, including:

Useful ANZ personal loan features

ANZ personal loans have several features designed to make managing your finances easier.

Redraw facility

If you are ahead of your repayments on your variable personal loan, you have the option of redrawing some of your funds.

Borrow more if needed

If you find that you need a bit more money, ANZ’s variable rate loan gives you the ability to increase your loan amount. This can be done by applying online, in person at a branch, or through internet banking.

Flexibility to extend the repayment period

If your financial situation has changed and you would like to reduce your monthly payments, the ANZ variable rate loan has the option to extend the repayment period. Applications can be made in person at a local branch or over the phone.

Who can apply?

ANZ’s eligibility criteria are simple. If you can answer 'yes' to all of the following then you are eligible to apply for an ANZ personal loan:

  • Be at least 18 years old
  • Be an Australian citizen or permanent resident
  • Earn at least $15,000 every year
  • Be a sole applicant

Joint applications for an ANZ personal loan are possible, but can only be submitted at your local branch.

How to apply

If you are eligible, you can apply either online, over the phone, or in a local branch. Make sure you have the following required documentation ready:

  • At least two of the following: Driver’s license; Medicare card; Australian passport; Australian visa
  • Details of your income and expenses, assets and liabilities
  • ANZ account number or customer registration number (if you have them)

You can apply for an ANZ personal loan if you are not an existing ANZ customer, although ANZ customers may receive their funds faster if approved.


Are interest rates personalised based on your credit score?

No, ANZ does not offer personalised interest rates based on your credit score. Society One and others do.

Do ANZ conduct credit checks when processing a personal loan application?

Yes, ANZ will check your credit score during the application decision process. If you do not know what your credit score is, you can get it here.

Can I increase my loan amount?

Yes, you can increase your loan amount on the ANZ Variable Rate Personal Loan. However, this is not possible with the ANZ Fixed Rate Personal Loan.

Can ANZ personal loans be paid off early?

Yes, an ANZ Variable Rate Personal Loan can be paid off early. Note that you may be charged an early repayment fee. The ANZ Fixed Rate Personal Loan cannot be paid off early.

How can I pay off my loan in full and close my account?

If you want to pay off your loan in full, obtain a payout figure by calling 1800 801 485. Once you have your figure, you can pay the amount in full using one of these options:

  • Internet banking
  • Phone banking
  • At any ANZ branch

How do ANZ calculate interest?

Interest is calculated daily on the total amount owing and charged once a month.

Can people who already have a personal loan apply for an ANZ personal loan?

Yes, you can still apply for an ANZ personal loan if you have an existing personal loan.

Can temporary residents apply?

Yes, temporary residents can apply if the applicant holds a working or business visa.