ANZ Variable Rate Personal Loan Review, Flexible Repayments and Redraw Options for Aussies

Overview of the ANZ Variable Rate Personal Loan

The ANZ Variable Rate Personal Loan is a flexible option for Aussies who need between $5,000 and $50,000. With rates starting from 7.49% p.a. and a comparison rate around 8.18% p.a., this ANZ personal loan is aimed at everyday borrowers and self-employed customers alike.

This variable rate personal loan includes features that matter: no penalty for extra repayments, a redraw facility and the convenience of applying online. For Australians weighing personal loan options, the ANZ Variable Rate Personal Loan keeps things straightforward and digitally accessible.

Costs, fees and what to watch

ANZ charges a $150 loan approval fee and a $10 monthly administration fee, billed quarterly, so include these ANZ loan fees when you run the numbers. The comparison rate gives a clearer picture of true cost, but check current rates as variable rates can change with the market.

Despite the fees, the lack of extra-repayment penalties and the redraw option often offset costs for borrowers who plan to pay down the loan early. For Aussies comparing personal loans, factor in both headline rates and recurring ANZ loan fees to see overall value.

Repayments, redraw and flexible access

Flexible repayments are a core selling point: you can make extra repayments any time without penalty and redraw those funds if you need them later. That redraw facility is handy for rainy-day savings after you’ve paid more than required.

Manage payments easily using the ANZ app or online banking, set up direct debits and monitor your loan on the go. The ANZ Variable Rate Personal Loan’s online tools make it simple to track redraw balances, extra repayments and upcoming instalments.

Who should consider this ANZ personal loan?

This loan suits Aussies who want flexibility, especially those self-employed or with fluctuating income who need redraw access and no extra-repayment penalties. It’s also a solid contender for people looking to consolidate debt or finance mid-sized purchases while keeping repayment options open.

Before you apply online, compare the ANZ Variable Rate Personal Loan against other variable rate personal loans and fixed options. Look at rates, fees, comparison rate and features like redraw and extra repayments to decide if this ANZ personal loan matches your financial goals and lifestyle.