If you’re looking for flexibility, the ability to redraw on additional loan repayments or the option of paying off your loan sooner then a variable rate could be your best option¹.  It allows for life’s little surprises.

If you prefer the stability of set monthly repayments then a fixed rate is usually a better choice. It offers peace-of-mind and allows you to better manage your finances.

New or used car, we have the loan that’s right for you.

Which loan type is best for me?

Loan Features	Variable Loan	Fixed Loan
Different features	Variable rate Extra repayments allowed at no extra       cost1.	Fixed rate  Extra repayments allowed but fees and       charges apply.
Benefits	Ability to pay off your loan faster and save on interest costs1 Ability to redraw on additional loan repayments you have made if the need arose Customer can benefit when interest rates decrease	Offers you the certainty of knowing what your repayments are for the fixed period Safeguards you against increasing interest rates Assists with budget management
Features	Minimum loan amount: $5,000 No maximum loan amount set Loan term: From 1 to 7 years (your choice) ANZ Loan Protection2: Optional insurance cover for when the unexpected happens. If you choose ANZ Loan Protection, you may qualify for a 0.25% p.a. interest rate discount.
Additional repayments	Yes. You have the freedom to make extra      re-payments at no      extra cost.	Yes. Fees and charges apply.
Redraw facility	Yes. Redraw allows you to access      additional loan      payments you have      made. The minimum      redraw is $5005.	Not available
Fees and charges	Loan approval fee: $150 covers application and loan establishment costs and $150 per guarantor Loan administration charge: $30 quarterly fee
Interest rates4	Interest rate from (View current rates) Comparison rate3 from (View current rates)	Interest rate from (View current rates) Comparison rate3 from (View current rates)

ANZ provides car insurance.

Applying for an ANZ Personal Loan is now even easier

All applications for credit are subject to ANZ's credit assessment criteria.

Terms and Conditions available on application. Fees and charges apply.

1. A Deferred Establishment Fee will apply if you repay your Variable Rate Loan within 12 months of the date of advance. 

2. ANZ Loan Protection is underwritten by OnePath Life Limited (OnePath Life) ABN 33 009 657 176 and QBE Insurance (Australia) Ltd ABN 78 003 191 035.

Australia and New Zealand Banking Group Limited (ANZ) (ABN 11 005 357 522) is an authorised deposit taking institution (bank) under the Banking Act 1959 (Cth). OnePath Life is owned by ANZ – it is the co-issuer of the product (along with QBE Insurance (Australia) Limited ABN 78 003 191 035 AFSL 239545) but it is not a bank. Except as set out in the issuer's contract terms (including the Product Disclosure Statement), this product is not a deposit or other liability of ANZ or its related group companies. None of them stands behind or guarantees the issuers. Terms and Conditions apply. View insurance disclaimer and important notes.

3. These comparison rates are based on a $10,000 Personal Loan for a three year term. This rate is applicable for unsecured loans only.

WARNING: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as 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.

A Comparison Rate Schedule is available at any ANZ branch or view it online ANZ Comparison Rate Schedule (PDF 76kB).

4. Rates as at (View current rates) and subject to change.

5. Terms and conditions apply.

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