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Increase your personal loan

Life happens, whether you're embarking on a home reno project or fancy a more reliable car. Whatever the case may be, it's nice to know you can apply to get extra funds or extend the term on your existing ANZ Personal Loan. See how we can help.

Interest rate range from  to disclaimer
(Comparison rate ranges from  to )disclaimer

 

The better your credit score,
the better your personalised rate (if approved)disclaimer

 

The interest rate range shows the minimum and maximum interest rate that may apply. Your personalised interest rate will be confirmed in your Letter of Offer (if approved). 
 

limited time offer

Make it happen with an ANZ Personal Loan

$250 cashback + $150 Loan Approval Fee Waiverdisclaimer

Whether it’s new wheels, a home reno or a dream holiday, an ANZ Personal Loan can help make it happen.

Ready to apply?

Eligibility, ANZ’s credit assessment criteria, T&Cs, fees and charges apply.disclaimer Full offer terms at ANZ Personal Loans.

Why choose to top-up

Borrow more for what you need

If you need some extra funds, you could apply to increase your loan amount to a maximum of $50,000. 

More time to pay

You could apply to increase your total loan term to a maximum of 7 years, giving you more time to pay. 

We'll do the heavy lifting

Once approved, we'll do the rest to close your existing personal loan and set up your new one.

Choose a personal loan that works for you

I need stability 

ANZ Fixed Rate Loan

Borrow $5,000 to $50,000 over 1 to 7 years. 

1

Interest rate from

to disclaimer

2

Comparison rate from

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Features

  • Certainty your repayments won’t change even if rates increase as you’ve locked in a fixed interest rate

Things to consider

  • Early repayment charges may apply if you make early or extra repayments, repay your loan early or increase your loan amountdisclaimer
  • No access to extra money paid (redraw)

Apply for fixed

The interest rate range shows the minimum and maximum rate that may apply. Your interest rate will be confirmed in your Letter of Offer (if approved).

I need stability 

ANZ Variable Rate Loan

Borrow $5,000 to $50,000 over 1 to 7 years.

1

Interest rate from

to disclaimer

2

Comparison rate from

to disclaimer

Features

  • Ability to make early or extra repayments, or repay your loan early, without additional costs
  • Flexibility to increase your loan (subject to credit assessment)
  • Access to extra money paid (redraw)disclaimer

Things to consider

  • Your interest rate and repayments may increase or decrease during the term

Apply for variable

The interest rate range shows the minimum and maximum rate that may apply. Your interest rate will be confirmed in your Letter of Offer (if approved).

Fees explained

fees

Loan approval fee 

$150

Loan administration charge

$10 per month, debited every three months until the loan is closed in ANZ systems.

Late payment fee

$20 will be charged if your repayment is 5 days late or more.
A further $20 will be charged monthly until repayments are up to date.

Early repayment charges 
(Fixed Rate Personal Loans only)

You may incur an Early Repayment Cost, which may be significant, if you make early or additional payments. See Early Repayment Costs (PDF) and Consumer Lending Terms and Conditions booklet (PDF).

Things to consider

when increasing your ANZ Personal Loan amount or term, as you'll be entering into a new credit contract which replaces your existing one. 

New interest rate, terms and conditions

An increased personal loan term or amount means a new credit contract will begin and a new interest rate will apply, which may differ from your existing rate.  To ensure your new increased loan meets your needs, please compare all fees, rates, features and trade-offs with your current personal loan and see how much interest you'll pay over the term of the new loan.  Read the terms and conditions carefully as they may differ to those of your existing loan.

Changes to your insurance options

If you've got Loan Protection Insurance on your existing personal loan, it will be cancelled when the loan is cleared and closed as part of the top-up process. Whilst we no longer offer Loan Protection Insurance on our personal loans, you may want to consider an alternative, like income protection insurance in case of accident or illness, to help keep your repayments and other bills in the green. 

Be aware of any fees that apply

It's important to be aware of the fees that apply in replacing an existing loan with a new personal loan with an increased amount or term. If your existing loan is an ANZ Fixed Rate Personal Loan, early repayment fees and costs will apply. See our fees explained above. 

Redraw funds won't carry over

If your existing loan is an ANZ Variable Rate Personal Loan, any extra repayments you've made will no longer be available for redraw on the new loan. If you choose to increase your loan using a new variable rate personal loan, then you can make extra repayments and build up your redraw funds again over time. 

How to apply

For an increase to a variable rate personal loan, apply online, by phone or in a branch.
To increase a fixed rate personal loan, you can apply by phone or branch only.

Apply online

Whether you're on the move or at home, you can apply anytime.

Apply for variable

Apply by phone

Call our Loan Specialists Monday to Friday, 8am to 8pm (AEST)

Call 1800 339 410

Apply in branch

Chat to us in person at your local ANZ branch.

Book an appointment

Find an ANZ Branch

Your questions answered

Offer

To be eligible for the $150 Loan Approval Fee waiver and $250 cashback offer, a customer must:

(a) Apply for a new ANZ Personal Loan , or apply for an increase to their current ANZ Personal Loan.

(b) Apply between October 16 2024 and 31 January 2025.

(c) Draw down funds.

If a customer closes their ANZ Personal Loan account or nominated transaction account before the cashback payment is paid, they will be ineligible for the $250 cashback.


Customers can apply in branch, over the phone or online. For joint applications, customers must apply in branch.

The cashback amount will be paid into the transaction account in which the loan funds are disbursed within 120 days from the date of draw down.

If we do not have details for an appropriate account, the customer will be contacted via an outbound call.

General

ANZ Personal Loan increases, also known as top-ups, are for existing ANZ Personal Loan customers who are looking for more funds or to extend their loan term.

If you have an ANZ Fixed Rate Personal Loan and your loan term or amount is increased, you will incur early repayment costs, which may be significant.

If you'd like to increase your amount or term, you have some choices to make: 

As this will be a new personal loan, it’s important to note that you will have:

  • a new interest rate
  • a new credit contract with new terms and conditions

If approved, your funds will be transferred to your nominated bank account in a lump sum at the start of your new loan term.

You will need to repay the amount borrowed, along with interest accrued and any fees or charges incurred, in regular instalments over a set term.

Your new personal loan may have a different account number to your previous loan, so you may need to re-establish any regular repayments or direct debits with your new loan details.

ANZ Fixed Rate Personal Loans and ANZ Variable Rate Personal Loans are unsecured. This means you do not have to use an asset like your car or home as security to get a loan.

  

If you have an ANZ Variable Rate Personal Loan, you can pay off your loan early by making early or extra repayments without additional costs. This could help you to save on the interest you pay over the life of the loan. 

With an ANZ Fixed Rate Personal Loan, early repayment fees and charges, which may be significant, may apply if you make early or additional repayments or repay your loan early. Refer to Early Repayment Charges (PDF) and  ANZ Consumer Lending Terms and Conditions booklet (PDF).

  

ANZ Fixed Rate Personal Loan

An ANZ Fixed Rate Personal Loan gives you the certainty of fixed repayments for the term of your loan. This means if interest rates increase your repayments stay the same.

However, if you're looking to pay off your loan early, make extra repayments or increase your loan amount, early repayment fees and charges may apply. See Early Repayment Charges (PDF) and ANZ Consumer Lending Terms and Conditions booklet (PDF) for further information. You also do not have access to any early repayments made to the loan.

ANZ Variable Rate Personal Loan

With an ANZ Variable Rate Personal Loan, your interest rate may increase or decrease during the loan term, and so may your repayments. You can make early or extra repayments to pay off the loan faster (and save on interest charges), and redraw any extra money you’ve paid on your loan, without additional costs.

  

Although you're applying to increase an amount or term on an existing ANZ Personal Loan, your circumstances may have changed since you last applied with us. So, we'll need to update our information and re-assess your ability to support the updated loan amount/term.

You'll need to provide information on:

  • your income amount and frequency
  • your assets
  • what existing financial commitments you have with ANZ and other financial institutions, such as personal loans, home loans or credit cards
  • your expenses, such as how much you spend on gas, electricity, insurances, food, transport and lifestyle expenses

We ask for this information so that we can verify your financial circumstances and assess your ability to repay an ANZ Personal Loan without substantial hardship. You can explore which ANZ Personal Loan may suit your needs by using our tools and calculators. 

Interest explained

When you apply to increase or extend your existing ANZ Personal Loan, you’re new, personalised interest rate will be based on our assessment of your credit score. Your rate will be within the interest rate range advertised and may be better or worse than your current interest rate.

If you've demonstrated good credit behaviour, such as by making repayments on time for all your credit products and not opening too many credit products, you may be offered a rate in the lower end of the advertised interest rate range.

Where your credit history isn't as good, for example it:

  • isn't very long
  • shows you've defaulted on repayments for your credit products
  • shows you've made many credit applications in a short period of time

you may be offered a rate at the higher end of our advertised interest rate range.

If approved, we'll confirm your interest rate in your letter of offer, which you can choose to accept or not.

Depending on when you applied, your current Personal Loan may not have been based on your credit score.

Explore things to consider when applying for a personal loan.

For joint applications, the interest rate applicable to the joint personal loan will be determined based on the lower credit score of the two applicants.

A comparison rate helps you work out the true cost of a loan. This rate takes other fees and charges into account, like a loan approval fee and loan administration charge in addition to the interest rate. It’s meant to be a fairer way of comparing how much a loan will cost you.

For more information, visit Moneysmart.

Interest is calculated on the unpaid daily balance of your loan and is charged to the loan on a fortnightly or monthly basis (depending on which product you have). The interest rate applied each day is equal to your annual interest rate, divided by 365.

It's important to note that the interest charged to your loan may be different each month for ANZ Fixed Rate and Variable Rate Personal Loans, as it depends on a variety of factors, such as the number of days in that month, the applicable annual interest rate and the unpaid balance of your loan. For the full details about how interest is calculated refer to our Consumer Lending terms and conditions brochure (PDF).

  

Credit score

You can get your credit score from an online credit score provider, such as getcreditscore.com.au. You'll need to supply identification, such as a your driver licence, passport of Medicare card. It'll take around 10 minutes to get your results.

You can also access a more detailed credit report from a credit reporting agency, such as Equifax.  Fees and charges may apply.

Different agencies may hold different information, so you may have a different credit report with more than one agency.  However, we use the Equifax credit score to determine your personalised interest rate, so we recommend that you obtain your credit score from Equifax or getcreditscore.com.au to get the most accurate idea of what interest rate you may receive.

If your credit report includes incorrect or out-of-date information, contact the credit reporting agency to fix it free of charge.

The good news is your credit score is dynamic, so it can improve depending on how you manage your debt. You can actively improve your credit score by paying all your bills or loan repayments on time. The Moneysmart website offers a few options for improving your credit score.

Different agencies can hold different information, you may have a credit report with more than one agency.

ANZ uses the credit score provided by Equifax to determine your applicable interest rate. We recommend that you access your credit report or credit score from Equifax or getcreditscore.com.au for a more accurate estimate.

Important information

Any information provided is general in nature and does not take into account your personal needs, financial circumstances or objectives and you should consider whether it is appropriate for you. ANZ recommends you read the applicable Terms and Conditions booklets and the ANZ Financial Services Guide (PDF) before deciding whether to acquire, or continue to hold, a particular product.

All applications for credit are subject to ANZ’s credit assessment criteria. Terms and conditions are available on application. Fees and charges apply. Australian credit licence number 234527.

Interest rates as at  and are subject to change. These interest rates may be withdrawn or changed at any time without notice and may not be available in conjunction with any other offers, packages, or promotions.

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These comparison rates are based on a $30,000 Personal Loan for a five year term. The rates are applicable for unsecured loans only. 

WARNING: These 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 different comparison rates.

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We tailor your interest rate based on our assessment of your credit score. Where you have demonstrated good credit based behaviour, such as not opening too many credit products or making repayments on time for your other credit products, this will be reflected in your credit score and you may be offered a rate in the lower end of our range. Where your credit history isn’t as long, or as good, or you have made many applications in a short period of time, this may negatively impact your credit score and you may be offered a rate at the higher end of the range.

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This offer is available for a limited time to customers who apply for a new or increase their existing ANZ Personal Loan between 16 October 2024 and 31 January 2025. This offer may be withdrawn or changed at any time without notice. The loan must be approved, and the funds drawn down to be eligible for the offer. The cashback payment will be paid within 120 days of drawdown into the transaction account which the loan funds are disbursed into. The transaction account must be in the same name as the loan account. For joint applications, only one cashback payment will be paid in total for the application and will be paid to the first listed applicant. For joint applications, the account for funds disbursements must include the name of the first listed applicant. Applications for a joint ANZ Personal Loan or an increase of a joint ANZ Personal Loan may only be made in branch. If a customer closes their ANZ Personal Loan account or transaction account before the cashback payment is paid, they will become ineligible for the cashback payment. Applications for credit are subject to ANZ’s eligibility and credit assessment criteria. If you have any questions about the tax treatment of the cashback offer, please discuss with a tax agent or the Australian Tax Office.

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Fixed rate personal loans aren’t for everyone and early repayment fees and charges, which may be significant, may apply if you make early or additional repayments or repay your loan early. Refer to Early Repayment Charges (PDF) and ANZ Consumer Lending Terms and Conditions booklet (PDF).

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Terms and Conditions and eligibility criteria apply to ANZ Redraw. For further information on ANZ Redraw please refer to the ANZ Consumer Lending Terms and Conditions (PDF).

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