General Purpose Personal Loan
The perfect combination of competitive, flexible, and simple.
Get there faster with Summerland
Featuring a generous redraw facility and low ongoing interest rate, a Summerland Bank Personal Loan offers fast approval and the ability to make extra repayments. Enjoy the kind of fuss-free lending that gets you where you’re going, faster.
11.49% p.a.
Variable rate
This flexible rate option supports your purchases while ensuring you have the most competitive rate available.
13.73% p.a.
Comparison rate2
Giving you a more accurate picture of the true cost of a loan, including any fees, rates and costs. Now you can easily compare products side by side to choose what’s best for you.
Why a General Purpose Personal Loan?
Simple and straightforward
Competitive low interest rates
Fast approval process and pre-approval available
Repayment flexibility and redraw options
No hidden fees
Pay off your loan sooner with no penalties
Run the numbers
Our range of financial tools and easy-to-use calculators are designed to help you achieve your financial goals by choosing a loan product that’s right for you.
Access all our calculators here.
Basic loans repayments calculator
See how much your regular repayments would be on our range of home loans.
What can I afford to borrow?
Figure out how much you can comfortably afford to borrow based on your income and expenses.
Lump sum payment calculator
Calculate how much you can save by making extra or additional repayments on your loan.
General Purpose Personal Loan
What is the maximum loan amount I can borrow?
How much you can borrow is typically referred to as your ‘borrowing power,’ and what that number is can be different for each and every customer. While we make the process as transparent as possible, these are a few of the things we take into account: your income, assets, expenses, loan duration, and the type of loan you’re interested in.
Are there any fees associated with the general purpose personal loan?
Yes, establishment and monthly fees apply see loan fee schedule.
How long does the loan approval process take?
We are not here to stall your dreams. Typically, loan pre-approval and approval processes take 1-2 business days so you can get to where you’re going, faster.
We make things simple for you
We understand how confusing it can be to navigate financing a big purchase. Let our experienced lenders take away the stress of applying for finance.
Apply online, or start a conversation with our lending specialists
Your lending specialist will carefully guide you through the application process, be prepared to share your goals and financial information so we can let you know your borrowing capacity.
Application and approval
Once you have provided us with your financial information and verification documents, we will have a decision back to you lightning quick! usually within 2 business days.
Loan acceptance and funding
We make the loan acceptance process quick and easy, ensuring you can access your loan funds in time for your big purchase!
The legal stuff
1. The comparison rate is based on a secured loan of $30,000 over 5 years.
2. The comparison rate is based on a secured loan of $10,000 over 3 years.
WARNING: This comparison rate is 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. Limited to cash held in a Summerland savings or fixed term deposit account.
Rates are subject to change. Conditions, fees, and eligibility criteria may apply, see us for details. Terms and Conditions available upon request.
Target market determination available on request at our branches.
Ready to get started?
If you’re ready for a braver kind of banking, here are three ways to get started with Summerland Bank.
Apply online
Get started online with your ID at the ready and a quick check of your personal details.
Contact us
Good old-fashioned customer service, the Summerland way.
Visit a branch
Find your closest Summerland Bank branch and our friendly local team will be ready to help.
Is there something else we can help you with?
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