Is your home looking a little dated? Or maybe you want to increase the value of your home? Our personal loan for home renovations makes sprucing up your home easy. You’ll be the envy of your street in no time!
Making improvements to your home that reduce emissions? We have an Unsecured Green Personal Loan for that too.
An Unsecured Fixed Personal Loan for home renovations gives you the funds to complete the work you need, then pay it off in easy-to-manage repayments with no monthly account fees. No need to move house, you can refresh, revamp and upgrade the home you’re in!
If you’re adding solar panels or a battery pack to reduce the emissions of your home, an Unsecured Green Personal Loan is likely a better option – offering a lower interest rate for eligible green products.
Designed to help you pay your loan off easier, our loans come with:
Home renovations do more than give you a luxurious living space. Maintaining your home can help you save money on costly repairs and increase the value of your property in the long term.
Some eligibility requirements apply for green loans.
Note: if you’re planning home renovations which include installing green items, such as solar panels and/or battery packs, you’ll need to apply for a green loan separately.
Pay it off your way.
From personalised interest rates to no monthly account fees, you’ll be saving smarter, not harder.
That means no shareholders. Our profits go back into new products and clever ways to help you manage your money.
If you’re still deciding which loan is right for you, we’re here to help. Call us on 133 282 for a chat.
A personalised interest rate is an interest rate based on an assessment of your credit score. If you have an excellent credit score and a good history of repaying loans, credit cards and other bills, you’ll likely be offered a lower interest rate.
When you apply for a personal loan your individual situation and your credit score will be considered when calculating your personalised interest rate.
Learn more with our guide to understanding our personal loan interest rates.
Yes. To apply for a joint personal loan both parties will need to be present and provide their ID plus details of their income, expenses and any existing loans.
Depending on your current home loan, its flexibility, and how much you’ve already paid off, you may be able to use it to pay for your renovations.
There are two main ways of going about it, these are:
Before you apply, we recommend visiting our personal loan calculator to estimate your repayment amount.
Then, applying online is easy. Simply gather your ID and some details of your income, expenses and any existing debts and you can apply in 15 minutes.
We recommend speaking with a tax accountant to find out what tax deductions you are eligible for. Loans taken out to renovate investment properties may be eligible for capital works deductions.
Yes. At Great Southern Bank you can pay off your renovation loan before the end of your loan term without incurring extra fees, charges, or penalties.
An Unsecured Green Personal Loan is available for customers installing items that reduce emissions in your home including solar panels, battery packs and solar hot water and heat pump systems.
A renovation loan is an Unsecured Fixed Personal Loan that can be used for any type of home renovation such as kitchen and bathroom upgrades, extensions, patios and general home repairs.
If you're planning traditional renovations and installing green items such as solar panels, you’ll need to apply for two separate loans to get the reduced rate for your eligible green products.
The calculations provided are estimates only and are based upon the information entered by the user. The calculations do not include upfront or continuing credit fees and charges and do not constitute a loan application or variation to an existing facility, loan offer or loan approval.
Your contracted personal loan repayments will be set to a monthly frequency, meaning you will need to meet the agreed repayment amount by the due date stated on your loan contract each month. To meet this minimum monthly amount, you can however make repayments weekly or fortnightly.
A secured loan is 'secured' against the asset you are borrowing for, such as a car. If you are unable to repay the loan, the lender can sell the asset to cover the costs of the loan.
An unsecured personal loan is a loan that does not require an asset as security. Your income and ability to repay the loan is still assessed, however you don't need an asset to secure the loan.
Your credit score is a number used by lenders to assess how likely you are to repay a loan. Your score is based on the information in your credit report, including:
Learn more with our guide to Understanding our personal loan interest rates.
An ideal loan for many purposes, such as debt consolidation, home improvements, new or used cars and motorbikes of any age, boats, caravan and more.
For buying or refinancing a new or used car or motorbike up to seven years old.
For buying or refinancing an electric or hybrid car up to seven years old.
For eligible green purchases, including solar panels, battery packs, solar hot water systems and hot water heat pump systems.
Loans are issued by Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions and fees apply.
Rates current as at 7 March 2024 and subject to change.
Your loan contract will state the minimum monthly repayment amount. You can arrange with us to make repayments on a weekly or fortnightly basis.
1. Comparison rate examples are accurate for a personal loan amount of $30,000 secured loan over a term of 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
2. Comparison rate examples are accurate for a personal loan amount of $30,000 unsecured loan over a term of 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
3. A $200 minimum withdrawal amount applies for redraws conducted in-branch. Redraw facility is available for Great Southern Bank Personal Loan products on offer from 6 June 2017.
4. You will need to hold a Great Southern Bank everyday account when the loan is funded.
*The rate you are offered is calculated based on your personal circumstances and credit history. A few different factors are considered, including:
Your personalised rate won’t be confirmed until you receive an offer from us (if approved) and is subject change before your loan settles.
A redraw facility lets you make additional repayments (on top of your minimum loan repayments) into your personal loan account. In the event of an emergency, these extra funds can be quickly redrawn for free.
Your application ID is in the confirmation email we sent from loanapplication@gsb.com.au. For help, call us on 133 282.
