Our fixed and variable rates range from 7.99% p.a. to 18.90% p.a. (comparison rate 9.10% p.a.^ to 19.93% p.a.^)
Consolidate several credit cards, store cards and personal loans into a single debt balance.
Know how much interest you're paying on the combined debts at any one time.
Keep track of a single regular repayment on the combined debt.
Every repayment reduces what you owe and gets you closer to paying off your loan.
Redraw money from the amount you've repaid, provided you're at least $500 ahead on your repayments. Each request is subject to approval.1
Choose a loan term of 1-7 years to suit your circumstances and make weekly, fortnightly or monthly repayments.
The rate for some customers is based on personalised pricing. If you're eligible, you'll get a personalised rate and estimated repayments that reflect your credit score and the details you give us in your application.
|7.99% p.a. to 18.90% p.a.
Interest rate range
|9.10% p.a. to 19.93% p.a.
|13.49% p.a. median rate
(Half of our customers are offered this rate or lower)
Flexible loan term
Our standard variable rate is 12.99% p.a. (comparison rate 14.06% p.a.^)
The rate for some customers is based on personalised pricing. The final rate you’re offered may be lower or higher than 12.99% p.a. (comparison rate 14.06% p.a.^), depending on your personal financial circumstances.
|$195||Lending establishment fee|
|$12||Monthly loan account fee|
|$0||Per redraw on variable loans|
|$150||Loan discharge fee if you fully repay the loan within the first 12 months|
|$100||Loan discharge fee if you fully repay the loan after the first 12 months and before the end of the loan term|
Fees are subject to change.
Reasons you might consider consolidating debt with a personal loan include:
Simplify your finances
Rolling more than one debt into a single debt consolidation loan means there is less financial admin in your life.
Once you’ve repaid the outstanding debts with the new loan, it’s worth considering closing those other accounts so you don’t use them and continue to grow new/additional debt. That way you’ll only have one loan to deal with, meaning less juggling, you won’t be charged multiple ongoing fees and or interest on those accounts, and they’ll no longer be listed as liabilities on your credit history. If you close these accounts, there’s also less temptation to overspend.
This easier-to-manage approach is a good credit habit to have as it helps keep you in complete control.
Clear debts from multiple sources
With a debt consolidation loan you’re not limited to refinancing just one type of debt - unlike credit card balance transfers. Debt consolidation loans let you refinance all your existing debts, from credit card debt to store cards to personal loans and alternate credit providers, even upcoming large bills like insurance or car registration or cash loans. Another difference is that balance transfer offers may also charge interest on new purchases if they’re not fully repaid within the interest-free period.
Create a clear path to being debt-free
Consolidating multiple debts with a new personal loan means you also have the opportunity to set new loan repayment terms. That means you’ll know exactly when your one debt (the new loan) is repaid. With St.George you can choose between a fixed interest rate or a variable interest rate, and to repay it over a one to seven-year term. Furthermore, if monthly repayments don’t suit the way you’re paid, you can choose to make fortnightly or weekly repayments.
Note that we offer an unsecured debt consolidation loan. With unsecured loans you don’t need to offer an asset like your car or house as security to get the loan – as you would with a secured loan. Our secured loan can only be used for buying a car.
Save on costs
A debt consolidation loan won’t automatically save on costs. To make sure it does, you’ll need to factor-in all the costs of repaying your current debts as they are now – including any fees or charges for paying some debts early – and compare that total to the full costs of refinancing with a new debt consolidation loan. The section below outlines this in more detail.
Follow this section to improve the likelihood your application is approved.
Learn how combining multiple debts into a single loan could help you simplify your debt and even pay less interest.
Use our online tools to learn more about your borrowing power and the types of loan we offer that could suit your purposes.
Learn from our selection of FAQ content to make the most of your loan’s features and capabilities.
Any advice on this website is general in nature and has been prepared without considering your objectives, financial situation or needs. Please read the product disclaimer and Terms and Conditions (PDF 1MB) documents and consider your individual circumstances before applying for a St.George Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information correct as of 11 July 2022. Interest rates are subject to change.
Our standard variable rate for unsecured variable rate loans is 12.99% p.a. (comparison rate 14.06% p.a.). The rate for some customers is based on personalised pricing. The final rate you’re offered may be lower or higher than 12.99% p.a. (comparison rate 14.06% p.a.), depending on your personal financial circumstances.
^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan amounts and terms will result in different comparison rates. Costs such as loan discharge fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Unsecured Personal Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on an unsecured loan of $30,000 borrowed for 5 years:
1A Redraw facility is available on variable interest rate loans only. Redraw requests are subject to approval. Minimum redraw amount is $500 and a $0 redraw fee applies to each approved request. Other fees and charges may apply.
**Personalised rates: The rate for some customers is based on personalised pricing. Instead of a one-size-fits-all approach, personalised pricing allows us to offer more people personal loans at a better rate, based on an assessment of credit history as well as the information provided in the application.
Unless otherwise specified, the products and services described on this website are available only in Australia from St.George - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.