ANZ Variable Rate Personal Loan
ANZ Variable Rate Personal Loan Review & Application
The ANZ Variable Rate Personal Loan is designed to help you acquire some extra money without the hassle of high interest rates. If you currently have balances for credit with a high rate of interest and you want some debt relief this is the loan for you. You can consolidate your high interest debts into one simple loan with a lower rate of interest to make your debts easier to manage. You will have only one repayment to worry about instead of multiple repayments for different debts.
Benefits of the ANZ variable rate personal loan
Freedom is the word when it comes to the ANZ variable rate personal loan. You can schedule your repayments according to your own personal budget. You can choose from a monthly, fortnightly or weekly plan – whatever works best for you.
You are also given the opportunity to redraw any extra loan payments made. You need to redraw a minimum of $500 but there is no fee for making the redraw. This feature lets you relax about paying back extra money in the event that you may need it later. You can have access to the extra money you have paid into the loan anytime you need it.
The minimum amount you can apply for on this loan is $5000. Your loan term will last between one and seven years, depending on how many years you decide you’ll need to pay back the loan in full.
Interest - The interest rate for an ANZ Variable Rate Personal Loan is currently from 14.90% per annum. Since it is variable that rate will fluctuate with changes in the market. That allows you, the borrower, to take advantage of reductions in the interest rate with lower payments and possibly a lower overall cost.
Repayments – One of the best options for repayment is to get your debt paid off quickly so that it winds up costing less. With this option you can make as many extra payments as you wish and even pay off the balance early without ever incurring extra fees or charges. Repayments can be set up weekly, fortnightly, or monthly depending on your salary and finances.
Redraw – Along with the option to make extra payments comes the option for redraw. This allows you to withdraw any extra payments you have made to your account. The minimum redraw amount is $500, but there is no additional fee.
Amounts – The minimum amount you can borrow is $5,000 and there is no maximum amount.
Fees – Fees are minimum at $150 for the combined application and establishment costs. There is also a $30 quarterly charge for the administration of your account.
Security - ANZ offers optional protection on your account. This will help to make your payments should you run into unexpected financial troubles. By purchasing this optional plan you may be entitled to a .25% interest rate discount.
Eligibility - Applicant must be at least 18 years old and permanent residents of Australia. Already being an ANZ customer is not a requirement. Documentation to prove your identity and income is required which can come in the form of payslips that are not handwritten and display pertinent data like your employers name and gross income. If you are self employed you may provide your company financial statements or personal tax return. Other documents like an employer’s letter, bank statements, proof of rental income, PAYG summary, tax agent prepared return, or Australian Taxation Notice of Assessment will also be accepted.
Eligibility
To make an application for the ANZ variable rate personal loan you have to be over 18 and a permanent resident of Australia. You can apply whether you are a customer with ANZ or not.
You will need the following documentation in order to apply for the ANZ variable rate loan.
Option one
A pay slip that is less than 5 weeks old and confirms a three-month amount of earnings that shows consistency with the annual income you are reporting is acceptable. This pay slip must show the name of your employer and cannot be written by hand.
Option two
Two payslips that are less than 5 weeks old that show the name of your employer and have not been handwritten will be accepted..
Option three
Account statements from ANZ that show your wages that have been credited to your account for the past three months can be submitted. These transactions must indicate the name of your employer and state whether they are salary, wages or pay.
Option four
You can choose to submit any of the two options that are listed below.
- A notice of assessment from the Australian Taxation Office.
- Statements from a different bank or financial institution that show your wages from the past three months. They must also indicate the name of your employer and be marked as salary, wages or pay.
- Six months of rental statements that indicate rental income or a current tenancy agreement.
- A letter from your employer that is written on letterhead and has an ABN. This letter will confirm that you have been working for this business for a minimum of three months and will state your net and gross income that you receive every pay period. The letter must also show an annual income amount and confirmed that there has not been any type of probationary period and that you have not been employed either casually or temporarily.
- A tax return prepared by a tax agent.
- A PAYG Summary that has not been written by hand.
Option for self-employed individuals
If you are self-employed you will have to submit a copy of your tax return and the financial statements for your business for last year.
The ANZ variable rate personal loan may be just what you need at this point in your life. It only takes a few minutes to submit an application online and you’ll find out in only a minute whether or not you have been approved.
Get you ANZ Variable Rate Personal Loan today by logging on to the website, calling ANZ, or visiting any branch. As long as you come armed with the appropriate documentation you will have a response to your request in almost no time at all.
Click here to apply for the ANZ personal loan
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Featured Personal Loans
| Personal Loan | Details | Min Interest Rate | Min Comparison Rate | Min Loan Amount | Min Loan Terms | Apply Fee | |
|---|---|---|---|---|---|---|---|
 Bank of Melbourne Secured Personal Loan | A convenient and fast way to purchase a car or debt consolidation with affordable rates and fees. | 10.99% | 11.88% | $3000 | 1 year | $195 |   |
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