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Best Personal Loans

Compare the best* personal loan rates

As a personal loan shopper, it’s important to find financing that perfectly matches your blend of wants and needs. BestFind has easy-to-use tools that can help you zoom in on options that are best for you. Compare offers, calculate repayments, and read our guide below to find the best personal loan that’s got your name on it.

What type of personal loans are on offer?

 

*The offers compared on this page are chosen from a range of products BestFind.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms ‘Best’ and ‘Top’ are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing products.

Compare best personal loans rates

Pay ZERO fees^ on all loans with NOW Finance. That's right - no establishment fee, no monthly fees, no early payout fee on all loans between $8,000-$50,000. What’s more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. ^Charges such as default or enforcement costs may apply if you do not comply with the terms of your loan. Comparison rate can vary from 5.95% to 17.95%

Overview

Minimum loan amount$8,000

Maximum loan amount$50,000

Minimum term (years)1.5 years

Maximum term (years)7 Years

Personal loan interest rates (base)5.95%

Personal loan comparison rate5.95%

Monthly repayments (approx)$303

Total repayments (approx)$10,943

Total interest repayments (approx)$943

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$0

GO TO Now Finance

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$35

For debt consolidation?Yes

Sponsored Yes

Telephone1300 275 669

Data accurate as of23/02/2021

GO TO Now Finance

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OurMoneyMarket offer competitive low rates on loans up to $50,000, plus free extra repayments and fee-free redraw facility.

Overview

Minimum loan amount$2,001

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)7 Years

Personal loan interest rates (base)6.75%

Personal loan comparison rate7.45%

Monthly repayments (approx)$315

Total repayments (approx)$11,351

Total interest repayments (approx)$1,351

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$250

GO TO OurMoneyMarket

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 990 115

Data accurate as of23/02/2021

GO TO OurMoneyMarket

Hide info -

Pay ZERO fees^ on all loans with NOW Finance. That's right - no establishment fee, no monthly fees, no early payout fee on all loans between $8,000-$50,000. What’s more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. ^Charges such as default or enforcement costs may apply if you do not comply with the terms of your loan. Comparison rate can vary from 5.95% to 17.95%

Overview

Minimum loan amount$8,000

Maximum loan amount$50,000

Minimum term (years)1.5 years

Maximum term (years)7 Years

Personal loan interest rates (base)5.95%

Personal loan comparison rate5.95%

Monthly repayments (approx)$303

Total repayments (approx)$10,943

Total interest repayments (approx)$943

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$0

GO TO Now Finance

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$35

For debt consolidation?Yes

Sponsored Yes

Telephone1300 275 669

Data accurate as of23/02/2021

GO TO Now Finance

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A quick and easy, 100% online application. No printing. No paper. No fuss. No monthly account keeping fees, no exit fees and no early repayment fees.

Overview

Minimum loan amount$2,001

Maximum loan amount$75,000

Minimum term (years)1 year

Maximum term (years)7 Years

Personal loan interest rates (base)5.50%

Personal loan comparison rate5.85%

Monthly repayments (approx)$309

Total repayments (approx)$11,142

Total interest repayments (approx)$1,142

Rate typeFixed

Secured or unsecuredSecured

Encumberance/REVVS check fee$0

Application / establishment fee$250

GO TO OurMoneyMarket

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 990 115

Data accurate as of23/02/2021

GO TO OurMoneyMarket

Hide info -

Use Driva's platform to compare rates and choose the best car loan option for you. Making car financing fast, simple & transparent with Jump Payments.

Overview

Minimum loan amount$2,000

Maximum loan amount$100,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)4.69%

Personal loan comparison rate6.55%

Monthly repayments (approx)$310

Total repayments (approx)$11,169

Total interest repayments (approx)$1,169

Rate typeFixed

Secured or unsecuredSecured

Encumberance/REVVS check fee$0

Application / establishment fee$400

GO TO Driva

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?No

Sponsored No

Telephone1300 755 494

Data accurate as of21/09/2020

GO TO Driva

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There's nothing quite like the thrill of buying a car, but one of the biggest challenges is finance. Ideally you'll want a car loan that offers flexibility and a low competitive rate, and is easy to apply for.

Overview

Minimum loan amount$10,000

Maximum loan amount$100,000

Minimum term (years)1 year

Maximum term (years)7 years

Personal loan interest rates (base)5.69%

Personal loan comparison rate6.39%

Monthly repayments (approx)$314

Total repayments (approx)$11,336

Total interest repayments (approx)$1,336

Rate typeFixed

Secured or unsecuredSecured

Encumberance/REVVS check fee$8

Application / establishment fee$399

GO TO NRMA

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleFortnightly, Monthly

Early repayments allowedYes

Early repayments fee$205 or 2% of outstanding balance (whichever the greater) at the time the final payout is made. Applies in the first three quarters of the original loan term only.

Missed payment fee$0

For debt consolidation?No

Sponsored Yes

Telephone1300 732 398

Data accurate as of21/09/2020

GO TO NRMA

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OurMoneyMarket offer competitive low rates on loans up to $50,000, plus free extra repayments and fee-free redraw facility.

Overview

Minimum loan amount$2,001

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)7 Years

Personal loan interest rates (base)6.75%

Personal loan comparison rate7.45%

Monthly repayments (approx)$315

Total repayments (approx)$11,351

Total interest repayments (approx)$1,351

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$250

GO TO OurMoneyMarket

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 990 115

Data accurate as of23/02/2021

GO TO OurMoneyMarket

Hide info -

NRMA used car loans can help you get one step closer to owning your dream pre-loved car.

Overview

Minimum loan amount$10,000

Maximum loan amount$100,000

Minimum term (years)1 year

Maximum term (years)7 years

Personal loan interest rates (base)6.99%

Personal loan comparison rate7.70%

Monthly repayments (approx)$321

Total repayments (approx)$11,557

Total interest repayments (approx)$1,557

Rate typeFixed

Secured or unsecuredSecured

Encumberance/REVVS check fee$8

Application / establishment fee$399

GO TO NRMA

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleFortnightly, Monthly

Early repayments allowedYes

Early repayments fee$205 or 2% of outstanding balance (whichever the greater) at the time the final payout is made. Applies in the first three quarters of the original loan term only.

Missed payment fee$0

For debt consolidation?No

Sponsored Yes

Telephone1300 732 398

Data accurate as of21/09/2020

GO TO NRMA

Hide info -

Use Driva's platform to compare rates and choose the best car loan option for you. Making car financing fast, simple & transparent with Jump Payments.

Overview

Minimum loan amount$2,000

Maximum loan amount$100,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)4.47%

Personal loan comparison rate5.28%

Monthly repayments (approx)$309

Total repayments (approx)$11,132

Total interest repayments (approx)$1,132

Rate typeFixed

Secured or unsecuredSecured

Encumberance/REVVS check fee$0

Application / establishment fee$400

GO TO Driva

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?No

Sponsored No

Telephone1300 755 494

Data accurate as of21/09/2020

GO TO Driva

Hide info -

Use Driva's platform to compare rates and choose the best car loan option for you. Making car financing fast, simple & transparent with Jump Payments.

Overview

Minimum loan amount$2,000

Maximum loan amount$100,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)4.69%

Personal loan comparison rate6.55%

Monthly repayments (approx)$310

Total repayments (approx)$11,169

Total interest repayments (approx)$1,169

Rate typeFixed

Secured or unsecuredSecured

Encumberance/REVVS check fee$0

Application / establishment fee$400

GO TO Driva

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?No

Sponsored No

Telephone1300 755 494

Data accurate as of21/09/2020

GO TO Driva

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A no-fuss way to arrange the finance you need, when you need it all while enjoying competitive variable interest rates.

Overview

Minimum loan amount$3,000

Maximum loan amount$50,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)9.99%

Personal loan comparison rate13.51%

Monthly repayments (approx)$329

Total repayments (approx)$11,858

Total interest repayments (approx)$1,858

Rate typeVariable

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$200

GO TO MyState

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?Yes

Sponsored No

Telephone1300 763 831

Data accurate as of21/09/2020

GO TO MyState

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Whatever it is you’re dreaming about, a Bankwest Flexible Personal Loan puts you in control. Pay it off early, make additional repayments and redraw additional repayments you’ve made all at no extra cost!

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)10.99%

Personal loan comparison rate11.81%

Monthly repayments (approx)$335

Total repayments (approx)$12,089

Total interest repayments (approx)$2,089

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$249

GO TO Bankwest

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?Yes

Sponsored No

Telephone13 17 19

Data accurate as of21/09/2020

GO TO Bankwest

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Whether you're taking control of your finances, planning a special event, or making a large purchase, our Unsecured Personal Loan may be the right solution.

Overview

Minimum loan amount$2,000

Maximum loan amount$40,000

Minimum term (years)1 Year

Maximum term (years)5 Years

Personal loan interest rates (base)12.99%

Personal loan comparison rate14.06%

Monthly repayments (approx)$337

Total repayments (approx)$12,142

Total interest repayments (approx)$2,142

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$10

Application / establishment fee$0

GO TO St.George Bank

Other Fees & Information

Monthly fee$12

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$150

Missed payment fee$9

For debt consolidation?No

Sponsored No

Telephone13 33 30

Data accurate as of14/12/2018

GO TO St.George Bank

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Whether you're taking control of your finances, planning a special event, or making a large purchase, our Unsecured Personal Loan may be the right solution.

Overview

Minimum loan amount$2,000

Maximum loan amount$80,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)12.99%

Personal loan comparison rate14.06%

Monthly repayments (approx)$337

Total repayments (approx)$12,142

Total interest repayments (approx)$2,142

Rate typeVariable

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$10

Application / establishment fee$0

GO TO St.George Bank

Other Fees & Information

Monthly fee$12

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$150

Missed payment fee$9

For debt consolidation?No

Sponsored No

Telephone13 33 30

Data accurate as of14/12/2018

GO TO St.George Bank

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A personal loan can help you to get what you’ve always wanted. Plan ahead with a flexible loan term of between 1 and 7 years. Apply for between $4,000 and $50,000 (conditions apply). Make extra repayments to pay your loan off sooner (prepayment fee may apply). Choose a repayment frequency to suit when you get paid - weekly, fortnightly or monthly.

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)11.99%

Personal loan comparison rate13.15%

Monthly repayments (approx)$340

Total repayments (approx)$12,268

Total interest repayments (approx)$2,268

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$250

GO TO Westpac

Other Fees & Information

Monthly fee$12

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments feeYes

Missed payment feeYes

For debt consolidation?Yes

Sponsored No

Telephone1300 720 697

Data accurate as of21/09/2020

GO TO Westpac

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1-7 years flexible loan term, borrow from $5,000 up to $55,000 and redraw additional repayments you've already made

Overview

Minimum loan amount$5,000

Maximum loan amount$55,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)12.69%

Personal loan comparison rate13.56%

Monthly repayments (approx)$340

Total repayments (approx)$12,269

Total interest repayments (approx)$2,269

Rate typeVariable

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$150

GO TO NAB

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$5

For debt consolidation?Yes

Sponsored No

Telephone13 13 12

Data accurate as of21/09/2020

GO TO NAB

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Borrow from $5,000 up to $55,000 for 1 to 7 years flexible loan terms

Overview

Minimum loan amount$5,000

Maximum loan amount$55,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)12.69%

Personal loan comparison rate13.56%

Monthly repayments (approx)$340

Total repayments (approx)$12,269

Total interest repayments (approx)$2,269

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$150

GO TO NAB

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$5

For debt consolidation?Yes

Sponsored No

Telephone13 13 12

Data accurate as of21/09/2020

GO TO NAB

Hide info -

Bring your next dream purchase a little closer with a Secured Personal Loan.

Overview

Minimum loan amount$3,000

Maximum loan amount$80,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)12.74%

Personal loan comparison rate13.81%

Monthly repayments (approx)$342

Total repayments (approx)$12,335

Total interest repayments (approx)$2,335

Rate typeVariable

Secured or unsecuredSecured

Encumberance/REVVS check fee$10

Application / establishment fee$195

GO TO St.George Bank

Other Fees & Information

Monthly fee$12

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$150

Missed payment fee$9

For debt consolidation?No

Sponsored No

Telephone13 33 30

Data accurate as of14/12/2018

GO TO St.George Bank

Hide info -

Wisr provide personalised low rates for applicants with good credit. Borrow between $5,000 and $50,000 with transparent terms and easy online application.

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)3 Year

Maximum term (years)5 Years

Personal loan interest rates (base)11.40%

Personal loan comparison rate12.27%

Monthly repayments (approx)$348

Total repayments (approx)$12,559

Total interest repayments (approx)$2,559

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$595

GO TO Wisr

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 992 007

Data accurate as of21/09/2020

GO TO Wisr

Hide info -

As a member owned organisation, our first priority is to help you. We continually focus on providing high levels of personalised service and value for money products – such as our Personal Loans– there to help you make those life-changing purchases.

Overview

Minimum loan amount$2,000

Maximum loan amount$100,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)13.99%

Personal loan comparison rate15.78%

Monthly repayments (approx)$350

Total repayments (approx)$12,609

Total interest repayments (approx)$2,609

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$250

GO TO People's Choice Credit Union

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?Yes

Sponsored No

Telephone13 11 82

Data accurate as of21/09/2020

GO TO People's Choice Credit Union

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Whether you're dreaming of far away destinations or of revolutionising the world with your next big invention, our Unsecured Personal Loans are a flexible and simple solution from an ethical and trusted team.

Overview

Minimum loan amount$1,000

Maximum loan amount$100,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)15.99%

Personal loan comparison rate16.29%

Monthly repayments (approx)$356

Total repayments (approx)$12,844

Total interest repayments (approx)$2,844

Rate typeVariable

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$150

GO TO The Mac

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?No

Sponsored No

Telephone1300 622 278

Data accurate as of21/09/2020

GO TO The Mac

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You can use your personal loan for things like purchasing a new car, consolidating your debts, renovating your home, paying for university studies or to go on your dream holiday!

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)1 Year

Maximum term (years)5 Years

Personal loan interest rates (base)15.60%

Personal loan comparison rate16.47%

Monthly repayments (approx)$356

Total repayments (approx)$12,847

Total interest repayments (approx)$2,847

Rate typeVariable

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$200

GO TO Arab Bank

Other Fees & Information

Monthly fee$8

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?Yes

Sponsored No

Telephone1800 64 64 84

Data accurate as of6/11/2018

GO TO Arab Bank

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Whether you're looking to buy a new car, take a holiday, renovate your home or you want to consolidate debt, ANZ could help you with a Variable Rate Personal Loan.

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)15.99%

Personal loan comparison rate16.84%

Monthly repayments (approx)$357

Total repayments (approx)$12,857

Total interest repayments (approx)$2,857

Rate typeVariable

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$150

GO TO ANZ

Other Fees & Information

Monthly fee$0

Quarterly fee$30

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$20

For debt consolidation?Yes

Sponsored No

Telephone1800 801 485

Data accurate as of6/11/2018

GO TO ANZ

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All-purpose Personal Loan for quick and easy funds when you need them.

Overview

Minimum loan amount$500

Maximum loan amount$100,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)15.99%

Personal loan comparison rate16.91%

Monthly repayments (approx)$358

Total repayments (approx)$12,901

Total interest repayments (approx)$2,901

Rate typeVariable

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$195

GO TO Regional Australia Bank

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$0

For debt consolidation?No

Sponsored No

Telephone1300 768 710

Data accurate as of21/09/2020

GO TO Regional Australia Bank

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Wisr provide personalised low rates for applicants with good credit. Borrow between $5,000 and $50,000 with transparent terms and easy online application.

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)3 Year

Maximum term (years)5 Years

Personal loan interest rates (base)13.40%

Personal loan comparison rate14.28%

Monthly repayments (approx)$359

Total repayments (approx)$12,925

Total interest repayments (approx)$2,925

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$595

GO TO Wisr

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 992 007

Data accurate as of21/09/2020

GO TO Wisr

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Wisr provide personalised low rates for applicants with good credit. Borrow between $5,000 and $50,000 with transparent terms and easy online application.

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)3 Year

Maximum term (years)5 Years

Personal loan interest rates (base)16.40%

Personal loan comparison rate17.31%

Monthly repayments (approx)$374

Total repayments (approx)$13,484

Total interest repayments (approx)$3,484

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$595

GO TO Wisr

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 992 007

Data accurate as of21/09/2020

GO TO Wisr

Hide info -

Wisr provide personalised low rates for applicants with good credit. Borrow between $5,000 and $50,000 with transparent terms and easy online application.

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)3 Year

Maximum term (years)5 Years

Personal loan interest rates (base)19.45%

Personal loan comparison rate20.34%

Monthly repayments (approx)$390

Total repayments (approx)$14,068

Total interest repayments (approx)$4,068

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$595

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Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 992 007

Data accurate as of21/09/2020

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Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between $1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan of $10,000 for a term of 3 years. 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. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

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Best personal loans – Find options that match your needs

The world of personal loans is chock full of options, whether you’re looking at the product features or lenders that are available. Snagging the best personal loan requires some research, and remember, a good deal with “off-target” features is still a bad deal. Therefore, the best personal loan for you is based on your needs, which are different from everyone else’s. Here’s what you need to know to find the best personal loans in Australia while staying true to your situation.

What does “best personal loan” mean?

Tagging a personal loan as the “best one” is mostly a matter of perspective. Otherwise, there’s no single personal loan out there that’s received the ultimate award for being the best. A personal loan is only best for you in a specific situation. For instance, there could be best personal loans for:

  • Average credit
  • Bad credit
  • Fast approvals
  • Joint applications
  • Thin credit history

The list goes on and on so that ideally, there’s something for every borrower. Generally, personal loans can make available up to $100,000. Any amount you qualify for is repaid over a fixed term of between 1 and 7 years.

Which type of personal loan is best for my needs?

A lot can set two personal loans apart, but the two main differences you have to decide on are secured vs unsecured and variable rate vs fixed rate.

  • Secured. Secured personal loans are best when you want to borrow a larger amount at a low interest rate. The trade-off is you have to put up a high-value asset, typically a car or home, as collateral. This cancels the lender’s risk of loss since your asset is theirs for the taking if you default. An example of a secured loan is a car loan, which typically uses the car you’re buying as collateral.
  • Unsecured. Unsecured personal loans are best when you don’t have or are unwilling to provide a suitable asset that guarantees your debt. The lender’s risk of loss is greater than with secured deals, so they’ll try to dilute it by charging a higher interest rate and possibly limiting the amount you borrow. Unsecured loans are also best suited for people with a good-to-excellent credit score for the same reason.
  • Fixed rate. A fixed interest rate loan is best for borrowers who want a stable budget and repayments that don’t change. While market rates may fluctuate, your rate won’t vary. This protects you from paying more when rates rise, but it also bars you from saving when rates fall.
  • Variable rate. A variable interest rate loan works best if you prefer an offer with more flexible features, such as the ability to make extra repayments. Additionally, credit providers generally offer starting rates that are lower than for fixed rate loans. But you’ll be exposed to the market’s mood swings. This is good if rates fall because you might save, but your repayments may increase if rates push up.

Which sort of option is best designed for my loan purpose?

Personal loans are designed to cover the gap when you’re short on cash but need to consolidate your debt, pay a bill, or make a purchase. A debt consolidation loan combines several credit accounts such as credit cards, student loans, car loans, or other personal loans into a single personal loan.

This makes your debt more manageable since you only have to deal with one repayment. For purchases and other expenses, personal loans are best suited to cover:

  • Home improvements and renovations
  • Weddings
  • Holiday and travel
  • New or used car purchases
  • Tax debt
  • Other legitimate purposes

How do I find the best personal loan features?

Finding the best personal loan is a game of compare and contrast. Remember, there’s no standard best loan, so you’ll have to ask a few questions to ensure you have the best option for you.

  • What’s the interest rate? – Borrowers may have unique needs, but if there’s one universal thing, it’s the need for cheaper finance. A low interest rate is a personal loan’s main attraction and no doubt the first thing most people check for. To find the best personal loan rates in Australia, compare different loan types separately to get the best personal loan rate for each category, then check other features before deciding if the overall financial product works for you.
  • What are the fees and charges? – A personal loan with low fees can also help you rack up more savings. There are standard fees and fees that you may have to pay. Standard fees and charges include upfront application or establishment fees and ongoing monthly or annual fees. Additional fees may include extra repayment fees, early exit fees, late payment fees, and redraw fees.
  • How much can I borrow? – Use the minimum and maximum limits each lender has as a guideline to choose an affordable amount you can borrow. But keep in mind that you only find out how much credit the lender is willing to extend after applying.
  • What’s the repayment period? –  For any given loan amount, choosing a longer loan term gives you smaller repayments and vice versa. But a longer term also builds up borrowing costs, so it’s essential to find a happy medium. You can use BestFind’s personal loan calculator to estimate repayments until you find an affordable option that allows you to pay off your debt in the shortest time possible.

How do I choose the best personal loan lender?

You’ll also need to compare personal loan lenders to figure out which one is best for you. Suitable credit providers include major banks, small banks, credit unions, online lenders, and P2P companies. Consider the following factors when scoping out financial institutions:

  • Flexibility. A flexible credit provider always offers terms that make it easier to manage your debt. For instance, they might let you choose a repayment frequency that best suits you. So you can opt for monthly, fortnightly, or weekly repayments depending on your particular situation. They can also give you the freedom to make early repayments or exit the loan without too many penalties.
  • Restrictions. Restrictions can apply when, for instance, you want to pour the funds into a startup or buy company equipment while the lender prefers that you use a business loan.
  • Requirements. Find out what you need to qualify for the best personal loan you have in mind. Although there are general requirements, some providers have more stringent requirements. For instance, they may only prefer borrowers with a credit score or income above a certain amount.
  • The lender’s reputation. A reputable lender typically has an Australian credit licence, a secure website, good reviews, and charges that are within ASIC’s limits. They also perform credit checks or enquiries before approval to ensure you’re borrowing responsibly.
  • Unique services or products. The best finance provider for you might be one that offers special features such as online accounts for tracking repayments and managing debt. Or they may have excellent in-person service and a quick response time, which are perfect for urgent needs. Ultimately, there’s a bulk of providers to choose from and no single best lender for everyone.

What else do I need to know when choosing what’s best for me?

  • Check the comparison rate. Don’t get caught up by a good-looking interest rate and think it’s best without considering the true cost of the loan. Instead, check the comparison rate which factors in all costs and fees for that product. The best personal loan rate should be tied to a proportionally low comparison rate.
  • Read the fine print. Sometimes the comparison rate doesn’t take into account all costs involved. Make sure you catch the outliers by sifting through the provider’s terms and conditions thoroughly.
  • Know your credit score. This prevents you from applying for offers you don’t qualify for. Also make sure to fix any errors in your credit file to mark up your credit rating. This increases your chances of getting the best low-rate deals.
  • Avoid too many applications. You may be enthusiastic about getting the best loan offer and thinking of submitting several applications to boost your luck. However, before they give you a quote, most finance providers carry out hard credit checks that go on record in your credit file. Too many marks in a short period damage your credit score. The only way around this is to check out deals that can show you a personalised rate by carrying out “soft checks” that won’t affect your credit history.

How to apply online for the best personal loan of your choice

Find the best personal loan for your situation in the table above, and click “Go to Site” to move on to the lender’s website. Minimum requirements are generally outlined as follows:

  • Be at least 18 years
  • Be an Australian permanent resident
  • Have a bank account that receives a steady flow of income
  • Have a good credit score

Along with that, you must provide documents such as a driver’s licence or passport, bank statements, payslips, and proof of residence.

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