Intro—Greater Bank Reviews & Ranking

AdvisoryHQ recently published its list and review of the top mutual banks and building societies in Australia, a list that included Greater Bank.

Below we have highlighted some of the many reasons Greater Bank was selected as one of the best mutual banks and building societies in Australia.

Click here for a detailed review of AdvisoryHQ’s various selection methodology: Ranking Methodologies.

Greater Bank Review

Among the best Australia building societies and mutual banks, Greater Bank is well-ranked by members. Greater Bank has a history dating back to 1945, and they have more than 250,000 customers and assets of more than $5 billion.

Greater Bank is part of the Customer Owned Banking Association, and this top Australia mutual bank adheres to the Customer Owned Banking Code of Practice, ensuring they’re committed to fair, responsible, and ethical banking. Members can access banking and services from Greater Bank online, in branch or at more than 3,500 ATMs.

Greater Bank Review

Image Source: Greater Bank

Key Factors That Led to Our Ranking of This as a Top Australia Building Society or Mutual Bank

When comparing top Australia building societies and the top Australia mutual banks, the following are some reasons Greater Bank ranks well.

Greater Bank Review: Lending Practices and Responsibility

One of the many things consumers find compelling about working with a top building society in Australia or a mutual bank, as compared to a conventional bank, is the ethical approach they strive to take in all areas of business.

This certainly holds true at Greater Bank.

First, they are a responsible and prudent lender. Their lending practices are designed to ensure they aren’t providing credit that could contribute to financial struggles in a members’ life. Lending decisions are based on thorough and thoughtful reviews of customers’ financial positions.

They also will only lend amounts they feel the member can reasonably afford to repay, and if a member runs into a financial difficulty, Greater Bank will work with them to fulfill their commitments during that time.

Greater Bank Review: Ultimate Home Loan

As a leader among the best Australia building societies and mutual banks, Greater Bank offers a wide selection of lending products including home loans. One of their signature home loan products is called the Ultimate Home Loan.

This is a lending package with either a competitive variable or fixed interest rate, and additional value-creating products and services.

Features of this loan include:

  • No establishment fee on variable loans
  • Flexible loan terms up to 30 years
  • Fee-free Everyday Banking account is included
  • The annual credit card fee is waived on the Greater Bank Visa Credit Card
  • Members can borrow up to 95% of the value of a property and avoid Lender’s Mortgage Insurance with a deposit of 20% or more
  • Flexible repayment options
  • A linked 100% Ultimate Offset account and unlimited free redraws via Internet banking
  • Insurance discounts
  • A complimentary initial Financial Planning Consultation

Greater Bank Review: Bonus Saver

The Bonus Saver account available from this top mutual bank in Australia is designed to offer convenience, ease-of-use, and to reward good savings habits. If a member has this account and makes at least one deposit in a calendar month and no withdrawals, they receive a bonus interest rate.

The high interest rate is calculated daily and paid monthly, there are no transaction fees, and there are no monthly account-keeping fees.

This account is statement-only, and online statements are available.

It can also be used with tools including free online, mobile, and phone banking, as well as customisable text and email alerts.

Greater Bank Review: Greater Bank Visa Credit Card

The Greater Bank Visa Card was designed with simplicity, convenience, security, and great value in mind, making it an ideal option for most members of this top Australia mutual bank. The Visa credit card has a low interest rate which remains the same for purchases and cash advances.

The annual fee is low, and it can be waived altogether for cardholders who spend at least $10,000 per year after the first year.

It includes up to 55 days interest-free on purchases in the full balance is paid each month, and it includes features such as Visa payWave, Visa Checkout, Verified by Visa, and BPAY.

In addition to reviewing the above Greater Bank review, you can click on any of the links below to browse exclusive reviews of AdvisoryHQ’s top-rated banking firms & credit unions:

Top Rated Banks
Top Banking Firms
Review of Top Mortgage Firms
Bank Reviews

AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.