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New Car Loan - Greater Bank

New Car Loan

Interest Rate 5.78 % p.a.
Comparison rate 6.16 %^ p.a.
Secured - Fixed rates for 1-7 years

With a low-interest rate, low fees, and flexible repayment options, our New Car Loan could help you get the wheels you want sooner. Loans can be approved in as little as 24 hours*.

Why choose our New Car Loan?

Available to enable the purchase of a new car, van, utility or four wheel drive for personal use
Competitive fixed interest rate which lets you stay in control with repayments.
Get approved in advance so you can shop for cars with confidence.
No monthly or annual fees.
A great low rate when using your car as security. Borrow any amount from $5,000 up to $100,000.
Select a repayment term and frequency that suits you. Loans from 1-7 years, with weekly, fortnightly or monthly principal and interest repayments.
No penalties for making additional repayments, or paying your loan out sooner.
Free, unlimited online redraw available.
Keep track of your loan wherever you are 24/7 via online banking or our mobile app.

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Rates are effective as at 9am Tuesday 28/06/2022

Interest Rates

New Car Loan - terms up to: Interest Rate Comparison Rate^
7 Years Fixed 5.78% p.a. 6.16% p.a.

Fees and charges

Establishment Fee $275
Monthly Fee $0

The above are a selection of our fees only. Additional Fees and Charges may apply. Subject to Greater Bank's lending criteria. For further information please view the Lending Products Product Schedule and Personal Loan Terms and Conditions.

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Current Product Schedule - Lending Products 185kB

PDF
Current Personal Loan Terms and Conditions 325kB

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Current Home, Personal and Business Loan Fees and Charges 294kB

What can the loan be used for?

Proceeds from the new car loan must be to purchase a new car, van, utility, 4-wheel drive for personal use. Demonstrator vehicles with less than 5000 km's on the odometer will be categorised as a new vehicle for this purpose. Vehicles purchased second hand or refinanced, boats, motorcycles, caravans and trailers will not qualify for our secured new car loan rate.

Who can apply for a New Car Loan?

Anyone can apply for a New Car Loan with us, provided that you:

  • Are 18 years of age or older and reside within NSW, QLD or ACT
  • Earn an income in excess of $20,000 p.a. and you have a satisfactory credit history
  • Are an Australian permanent resident

Need help getting what you want sooner?

Personal Loan Repayments Calculator

Savings Goal Calculator

Budget Planner

Got a question about our New Car Loan?

Anyone can apply for a Personal Loan with Greater Bank, providing that you:

  • are 18 years or older,
  • have a satisfactory credit history, and;
  • are an Australian permanent resident.

Greater Bank will require some personal information before being able to process your Loan Application.

Proof of identity (ID)

We will need to take a copy of your ID as part of your application. You can provide:

  •  Driver Licence, or;
  • Passport/International Travel Document, or;
  • Photo Card (includes photo and signature).
Proof of income

We will need to take copies of:

  • your two most recent consecutive payslips (no more than four [4] weeks old), or;
  • a current signed letter from your employer on their letterhead, stating your gross annual income, role, or; position, length of employment and employment status.

We also need to see:

  • wage deposits into a transaction account over three (3) months.
If you're self-employed Personal tax returns and, where relevant, business tax returns as well as financial statements, Australian Tax Office (ATO) Notice of Assessments for the last two consecutive years.
If you're eligible for a Family Tax Benefit

A letter from Centrelink, issued within the last six (6) months showing:

  • the type of benefit received.
  • the information used by Centrelink to calculate the payment.

We also need to see:

  • a transaction account statement showing your two (2) most recent payments.
If you receive child support

A Letter of Assessment form from the Child Support Agency within the last six (6) months, plus;

  • account statements showing three (3) months of payments.
If you receive rental income
  • A current letter or statement from the Managing Real Estate Agent, or;
  • Transaction account statements showing the three (3) most recent months of rental credits.
Status of other current (non-Greater Bank) loans

We’ll need documents confirming that any loans you currently have are up to date.

For example, a recent statement showing your name, account number, monthly repayments, credits, debits and loan balance.

For a home loan:

  •  six (6) months of consecutive statements.

For a personal Loan

  • three (3) months of consecutive statements.

For credit/store cards and interest-free loans:

  • your most recent statement.
Details of rent you pay

If you’re a home renter, we need copies of:

  • rent receipts or a rental statement issued by a Real Estate Agent, or;
  • three (3) most recent months payments shown in a Greater Bank transaction account.
Details about the new boat, caravan or motorcycle, or new or used car

Private purchase (car only):

  • current registration papers.

If your loan is for more than $60,000.00 you may need a vehicle inspection certificate.

Dealer purchases:

  • Dealer's invoice.

If you've already purchased the asset and are refinancing:

  • current registration papers.
  • comprehensive insurance policy.



At Greater Bank, we don’t think you should have to wait to get what you want.

That’s why we aim to approve your Personal Loan within 24 hours.

A comparison rate combines the:

  1.  loan interest rate you will be charged per year on the balance of your loan, with
  2.  the upfront, ongoing and final loan fees and charges you will also need to pay.

The comparison rate can help you estimate the total cost of a loan over a year.

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Our friendly staff are happy to help with all your banking needs. Find a location near you across NSW and South East QLD.

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Get in touch

Call us Monday to Friday 8:00am – 6:00pm and Saturdays 8:00am – 1:00pm AEST.

13 13 86

Conditions, fees and charges apply.

*Subject to meeting Greater Bank’s lending criteria. To qualify for the New Car Loan interest rate, the loan must be to purchase a new car, van, utility, 4-wheel drive for personal use. Demonstrator vehicles with less than 5,000 kms on the odometer will be categorised as New for this purpose. Vehicles purchased second hand, refinanced, boats, motor cycles, caravans and trailers will not qualify for the New Car Loan interest rate.

^ Personal Loan comparison rates are based on $30,000.00 for a term of five (5) years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. View our Terms and Conditions.