Is a personal loan right for you?

A personal loan lets you borrow money, usually for a particular reason, e.g. to buy a car, pay for a special event, or consolidate your debts.

Borrowing money with a personal loan

Before we agree to an ANZ Personal Loan, we’re required to make sure you can manage repayments without getting into financial hardship. It’s part of our responsible lending obligations.

You’re responsible for paying back your overdraft. For joint overdrafts on accounts with two or more people, all account holders are responsible for repaying the money. If one person can’t or won’t repay it, the other(s) will be responsible for repayments. This is called ‘jointly and severally liable'. 

When a personal loan can be a good choice

Vehicle loans

You could use an ANZ Personal Loan to buy a car, motorcycle, boat, or other vehicle. Whether it’s new or used, has two wheels or four, an ANZ Personal Loan could help you get from A to B. 

Debt consolidation 

Combining all your debts into an ANZ Personal Loan could help if you’re juggling different rates and payment dates. Debt consolidation means you can combine debts like store cards, credit cards, hire purchases, and other personal loans into one single loan, with one regular repayment. It offers flexible repayment options to suit you, with no additional charges or fees.

Weddings and special occasions 

One-off events and celebrations can be tricky to pull off without extra help; the venues, the photographers, the catering, the cake… the cost of your big day can quickly add up. Whether you’re entertaining 50 people or 500, an ANZ Personal Loan could help create the day of your dreams. 

Home improvements 

Have plans for your home? An ANZ Personal Loan could help make it happen. You could use it to make small changes and improvements, or upgrade your interior with a new TV or lounge suite. 


If you’re an intrepid explorer, holidaymaker, or simply have unexpected travel plans, an ANZ Personal Loan can help pay for travel costs such as flights, accommodation, and transport.

When a personal loan may not be right for you 

You need less than $3,000 

The minimum loan amount for ANZ Personal Loans is $3,000, or $1,000 for eligible Jumpstart customers

If you already have an ANZ Personal Loan, the minimum top-up is $1,000. 

If you want to borrow less than $3,000, consider an ANZ Credit Card or an ANZ Overdraft.

You require secured lending 

ANZ Personal Loans are unsecured, which means we don’t take security against any of your assets. For example, if you use a personal loan to buy a car, we don’t use the car as security against your loan. A mortgage is an example of secured lending, because your house is used as security.

To pay for day-to-day expenses 

Personal loans can’t be used to pay for regular household bills, such as power or internet. 

If you need the reassurance of having extra funds to pay for daily expenses, consider an ANZ Credit Card or an ANZ Overdraft.

Deciding how much to borrow 

Choosing the right loan amount can help you save money on interest costs, get rid of your debt faster, and keep your finances on track. Borrow too much, and you might struggle to make repayments or pay a lot in interest.

So it’s worth thinking about the loan amount, how long to pay it off, and how repayments fit into your budget. Our online calculators can help.

Tools and resources

Important information

Interest rates are subject to change. Lending criteria and terms apply to all ANZ Personal Loans. See Rates, fees and agreements and view the ANZ Personal Loan Terms and Conditions (PDF 104KB) for more information.

This is for information purposes only. Please talk to us if you need financial advice about a product or service. See our financial advice provider statement (PDF 39.8KB) for more information.