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Maximum charges: 20% Establishment fee and 4% monthly fee (Comparison rate 199.43%) based on $1000 repaid over 6 months. Illustrative example: Loan amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly instalments of $57.60. Maximum charges: 20% Establishment Fee & 4% Monthly Fee. In comparison rate terms, the maximum comparison rate may be as high as 199.43%.
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 with the lender that finances your loan. The information on this web page is general information. The information does not take into account your objectives, financial situation or needs. Credit criteria, fees, charges, terms and conditions apply. Products and rates displayed are subject to the individual borrower's credit assessment. Examples only provide an estimate and are used for illustrative purposes only, not an offer for credit. The amount you can borrow, the interest rate and fees you receive along the product you qualify for may vary.
Viva Payday Loans > St. George Bank

St. George Bank

About St. George Bank

St. George provides financial products and services in Australia. The firm is a division of the Westpac Banking Corporation. It offers banking services, home loans, credit cards, personal loans, investment products, and insurance to an individual, business, and corporate customers. Under personal loans, the firm provides both unsecured and secured loans, and both can be used to pay for various personal expenses.  

Key Features

Personal Loans

Personal loans offered by St. George to individual customers have the following characteristics. 

  1. Unsecured loans are available between the amounts of $2,000-$50,000, while secured loans have a higher limit of between $3,000-$80,000. 
  2. Personal loans are offered with either a fixed or a variable rate. 
  3. Borrowers can set a loan term between 1-5 years for a fixed-rate loan and 1-7 years for a variable-rate loan, and repay with weekly, fortnightly, and monthly payments. 
  4. Secured loans require a car owned by the borrower to be kept as collateral against the loan amount. Unsecured loans don’t have any such condition. 
  5. Loans with a variable rate allow redraw facility provided borrowers have exceeded due repayments by at least $500. Redraw requests are subject to approval by the lender and may incur charges. 
  6. Loans can be managed via the St. George online banking facility. 
  7. Loans can be used to pay for any personal expenditure. 

Get Set Loan

A Get Set Loan is a line of credit offered by St. George with the following key features:

  1. 17% per annum variable interest rate applicable on outstanding amount only. 
  2. Credit limit between $5,000-$50,000 with flexible weekly, fortnightly, or monthly repayments. 
  3. No early repayment, redraw, or exit fees. 

Personal Overdraft

St. George allows a personal overdraft facility for customers between $500-$20,000, subject to approval. Customers can apply within minutes and receive an almost instantaneous response. Funds are available in a few minutes after approval is given. 

How Much Does A St. George Loan Cost?

Personal Loans

On an unsecured loan, the lender charges as low as 11.49% (comparison rate of 12.57%) per annum and as high as 17.40% (comparison rate of 18.44%) per annum as a fixed rate, while variable rate loans are charged as low as 12.99% (comparison rate of 14.06%) per annum and as high as 18.90% (comparison rate of 19.93%) per annum. 

On secured loans, St. George charges 8.49% (comparison rate 9.60%) per annum on a fixed-rate secured loan, and 12.74% (comparison rate 13.81%) per annum on a variable-rate secured loan. In case the LVR (loan to value ratio) exceeds 150%, the lender may increase the applicable interest rate by 1% per annum. 

The applicable interest rate is communicated to borrowers on their loan offer contracts. 

The lender uses a personalized interest rate mechanism. It uses the borrower’s individual circumstances, as communicated in the loan application, to devise an interest rate that accounts for the risk the borrower poses to the lender with the loan. 

The lender also charges an establishment fee of $195, a monthly fee of $12, and redraw fees of $10 per instance. An early repayment fee of $150 is applied in case the loan is fully repaid within 12 months of loan initiation, and $100 in case it is fully repaid after 12 months of initiation but before the loan term has ended. Break costs may also apply to fixed-rate loans in this case. The establishment fee charged under secured loans may be higher due to government charges. 

The following table illustrates the costs borrowers could expect to pay on an unsecured loan. Please note that your costs may differ significantly due to the personalized interest rate offered. 

Loan TypeLoan AmountInterest RateLoan TermTotal Repayment
Unsecured Loan$10,00011.49% fixed3 years$12,301
Unsecured Loan$40,00012.99% variable6 years$58,665
Unsecured Loan$30,00017.40% fixed5 years$46,136
Unsecured Loan$30,00018.90% variable5 years$47,617
Secured Loan $10,0008.49% fixed3 years$11,793
Secured Loan$30,00012.74% fixed5 years$41,701

Get Set Loans

Get Set Loans are charged a 17% variable rate per annum on the outstanding amount. Other charges include a $150 establishment fee and a $12 monthly admin fee. 

Personal Overdraft

The personal overdraft facility by St. George is charged a 14.99% variable interest rate per annum. There is no establishment fee and only a $5 monthly admin fee. 

Pros and Cons

St. George loans have the following pros:

  1. A fast online application process
  2. Multiple loan products by the same lender
  3. Low personalized rates are being offered

The following cons may be associated with the services provided by St. George:

  1. No way of knowing the exact interest rate applicable on your loan before filing the loan application.


What assets are accepted by St. George for the secured personal loan?

The lender only accepts cars as security, provided they meet the eligibility criteria.

Can I use St. George’s personal loan to consolidate debt?

Yes, the loan amount can be used to consolidate personal debt. 

Can I file a joint application for a St. George loan?

Yes, joint applications are also accepted by the lender. 

Does the lender allow early repayments?

Yes, although these might be subject to additional charges depending upon the loan type. 

Eligibility Criteria

St. George has very basic eligibility criteria. Applicants must:

  1. Be over the age of 18
  2. Be at least a permanent resident of Australia

For secured loans, the car needs to be:

  1. Registered in the borrower’s name after it has been purchased
  2. Minimally damaged in the past and never been written off
  3. Less than 12 years old by the end of the loan’s term (as this could result in a lower interest rate)
  4. Covered under full-year comprehensive insurance by the time the loan funds are released to the borrower.

Customer Support

To access customer support, customers can call 13 33 30 between 8 AM to 8 PM Monday to Saturday for any personal banking queries and complaints. An online feedback form is also available. 

Application Process

Before you begin the application process, please note you would require the following information:

  1. ID documents (a driver’s license, passport, etc)
  2. Details pertaining to income and employment
  3. Details pertaining to any financial commitments
  4. Online verification of financial information. 

To apply for a loan product, follow these steps.

Step 1 – Submit the online application

Go on their website and select the loan product of your choice, as shown in the image below. 

unsecured and secured personal loan information

This will take you to the dedicated loan product page, as shown below. 

Click on the Apply now button (as shown on the bottom-right corner of the image above) to access the application form, follow the instructions, and submit it for consideration. It should take about 5-10 minutes. 

Step 2 – Application review and approval

The lender will evaluate your application and, if approved, deliver a loan offer contract that you must accept for the loan agreement to be finalized. 

Step 3 – Receive your funds

As soon as the lender receives your signed loan contract, it disburses the loan amount into the borrower’s bank account.