Important disclosure

Personal loans for $32,000

Need to borrow $32,000 for a major purchase, to go on a well deserved holiday or perhaps to consolidate your debts into one simple repayment? When comparing loans for $32,000, use the filter below to calculate your repayments of your desired term.

Calculate loan repayments

Loan Amount

$32,000

Term

3 months

OurMoneyMarket

Low-Rate Personal Loan - Excellent Credit - Zero Fee

EST Monthly Repayment
EST Monthly Repayment
6.57%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Plenti

Unsecured Personal Loan - Exceptional Credit

EST Monthly Repayment
EST Monthly Repayment
6.57%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.
Now Finance

NOW Finance Unsecured No Fee Personal Loan

EST Monthly Repayment
EST Monthly Repayment
6.75%
Advert. Rate (p.a)
Comparison rate
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. Comparison rate can vary from 6.75% to 26.95% p.a.*
Now Finance

NOW Finance Secured No Fee Personal Loan

EST Monthly Repayment
EST Monthly Repayment
6.75%
Advert. Rate (p.a)
Comparison rate
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 $15,000-$100,000. What's more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. Comparison rate can vary from 6.75% to 21.65% p.a.*
Harmoney

Unsecured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
5.76%
Advert. Rate (p.a)
Comparison rate
Get what you want, without breaking the bank. Fast, easy & 100% online. Borrow up to $70,000 unsecured. No hidden fees or early repayment penalties. Harmoney's unsecured interest rates range from 5.76% p.a. to 24.03% p.a.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Secured) - Very Good

EST Monthly Repayment
EST Monthly Repayment
6.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Liberty

Unsecured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
7.24%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Starting out or starting over? Get fast access to the funds you need.
Liberty

Secured Personal Loan - Excellent Credit

EST Monthly Repayment
$1,000.99 Inclusive of fees
EST Monthly Repayment
6.52%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Offering the certainty of fixed repayments at a rate just for you.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Unsecured) - Good

EST Monthly Repayment
$1,003.03 Inclusive of fees
EST Monthly Repayment
7.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
NRMA

NRMA New Car Loan (Credit Score +832)

EST Monthly Repayment
$1,004.69 Inclusive of fees
EST Monthly Repayment
7.29%
Advert. Rate (p.a)
Comparison rate
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.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Unsecured) - Average

EST Monthly Repayment
$1,017.90 Inclusive of fees
EST Monthly Repayment
8.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
NRMA

NRMA Used Car Loan (Credit Score +832)

EST Monthly Repayment
$1,022.61 Inclusive of fees
EST Monthly Repayment
8.49%
Advert. Rate (p.a)
Comparison rate
NRMA used car loans can help you get one step closer to owning your dream pre-loved car.
Liberty

Secured Personal Loan - Good Credit

EST Monthly Repayment
$1,065.23 Inclusive of fees
EST Monthly Repayment
10.34%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Offering the certainty of fixed repayments at a rate just for you.
Plenti

Plenti - Personal Loan - Very Good Credit

EST Monthly Repayment
$1,076.89 Inclusive of fees
EST Monthly Repayment
12.49%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.
Liberty

Unsecured Personal Loan - Good Credit

EST Monthly Repayment
$1,083.11 Inclusive of fees
EST Monthly Repayment
11.49%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Starting out or starting over? Get fast access to the funds you need.
Bankwest

Flexible Personal Loan

EST Monthly Repayment
$1,055.97 Inclusive of fees
EST Monthly Repayment
10.99%
Advert. Rate (p.a)
Comparison rate
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!
Westpac

Westpac Unsecured Personal Loan

EST Monthly Repayment
$1,071.41 Inclusive of fees
EST Monthly Repayment
11.99%
Advert. Rate (p.a)
Comparison rate
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.
Wisr

Platinum Unsecured Personal Loan

EST Monthly Repayment
$1,073.30 Inclusive of fees
EST Monthly Repayment
11.40%
Advert. Rate (p.a)
Comparison rate
Wisr provide personalised low rates for applicants with good credit. Borrow between $5,000 and $50,000 with transparent terms and easy online application.
St.George Bank

Unsecured Personal Loan (Fixed)

EST Monthly Repayment
$1,078.46 Inclusive of fees
EST Monthly Repayment
12.99%
Advert. Rate (p.a)
Comparison rate
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.
St.George Bank

Unsecured Personal Loan (Variable)

EST Monthly Repayment
$1,078.46 Inclusive of fees
EST Monthly Repayment
12.99%
Advert. Rate (p.a)
Comparison rate
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.
NAB

NAB Variable Rate Personal Loan

EST Monthly Repayment
$1,078.80 Inclusive of fees
EST Monthly Repayment
12.69%
Advert. Rate (p.a)
Comparison rate
1-7 years flexible loan term, borrow from $5,000 up to $55,000 and redraw additional repayments you've already made
NAB

NAB Fixed Rate Personal Loan

EST Monthly Repayment
$1,078.80 Inclusive of fees
EST Monthly Repayment
12.69%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 up to $55,000 for 1 to 7 years flexible loan terms
People's Choice Credit Union

Unsecured Personal Loan

EST Monthly Repayment
$1,102.07 Inclusive of fees
EST Monthly Repayment
13.99%
Advert. Rate (p.a)
Comparison rate
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.
Plenti

Plenti - Personal Loan - Good Credit

EST Monthly Repayment
$1,115.89 Inclusive of fees
EST Monthly Repayment
14.99%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 to $50,000 with a low interest personal loan. Choose a loan term between 3 - 7 years with $0 monthly fees. Get a rate estimate in as little as 60 seconds with no impact on your credit score.
Arab Bank

Unsecured Personal Loan - Variable

EST Monthly Repayment
$1,125.99 Inclusive of fees
EST Monthly Repayment
15.60%
Advert. Rate (p.a)
Comparison rate
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!

BestFind.com.au provides factual information in relation to financial products. While BestFind.com.au attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at time of publishing. The information published on BestFind.com.au is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with BestFind.com.au. BestFind.com.au recommends that you read the relevant PDS or offer documentation before taking up any financial product offer. For more information please see BestFind.com.au's Terms of Use and Services Guide.

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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$32,000 loans in Australia – Find and compare top offers

When taking out a personal loan, it’s important to get a customised offer that matches your budget and plans. After all, it can be frustrating having to borrow more or less than you need. If a $32,000 personal loan sounds just about right, check out this guide to learn more about borrowing this specific amount.

What are the repayments on a $32,000 personal loan?

Your repayments will depend on your credit score, the duration of your loan, fees and the interest rate. If you choose a longer-term loan your repayments will be small, but the overall interest paid will be greater.

Typical repayments on $32,000 over 60 months:

  • Application or establishment fee: $0 to $450
  • Monthly fee: $0 – $10
  • Interest rate: Between 7% and 19%
  • Monthly repayments: Between $649 and $847
  • The total cost on a $32,000 personal loan: Between $38,915 and $50,795

How does a $32,000 personal loan work?

Taking out a personal loan for $32K works in much the same way as other loan options. For instance, you receive the money as a lump sum but pay it off in instalments over a fixed repayment term.

One of the top perks of a personal loan is the ability to use it for almost anything. Typical uses for a loan this size include debt consolidation, which allows you to move all your debts into one place so you can pay them off via one monthly repayment.

If you’re self-employed you can also benefit from a $32K business loan. A $32K loan is also handy for things like buying an engagement ring, covering your tax debt and paying for that dental appointment. It’s up to you which way the money goes. However, there’s no guarantee you’ll get the amount you’ve specified in your application.

That’s because the lender considers factors like your income, expenses, and credit score to figure out if you’re able to repay the full asking amount. To encourage responsible borrowing, reputable lenders will only offer you $32K if they’re convinced you can service the debt. Here are some quick tips to scale up your chances of approval:

  • Check your credit report and correct any errors.
  • Try a joint application personal loan.
  • Opt for a secured personal loan.
  • Pay down any existing debt first.
  • Be sure to include all your acceptable sources of income in the application.

What are my options if I need to borrow this amount?

The option that’s best for you depends on your situation. Let’s take a look at different scenarios to see which option offers the best match.

  • Do you need a lower interest rate? – If you have good to excellent credit, make sure you approach lenders that offer tailored rates. You can also apply for a secured loan if you have a suitable asset to offer.
  • Are you looking for a quick 32K loan? – The best course of action is to apply online. Most online lenders, such as P2P lenders, have an easy online application process and offer fast funding. While you may not be able to get an instant 32K loan, it’s possible to get the funds on the same day.
  • Do fixed repayments sound good? – A fixed rate $32,000 loan has repayments that stay the same. That means budgeting for your instalments is a breeze, and you don’t have to stress about interest rate increases.
  • Do you want flexible loan features? – On the other hand, variable rate loans may fluctuate but they typically come with flexible features. For instance, you’ll have access to a redraw facility that allows you to withdraw any extra repayments you have made. Most variable rate loans also allow additional repayments and early payoffs without penalty. Additionally, you can save on interest if rates fall.
  • Are you looking for a reputable lender? – Some major banks and credit unions have been operating in the financial services space for decades. For instance, the Big Four banks are popular and able to attract customers through brand recognition.
  • Or do you want a more flexible lender? – Generally, non-banks provide a viable alternative to banks for borrowers who can’t meet traditional loan requirements. For instance, they may offer low doc personal loans to borrowers that don’t qualify for full doc loans.

I need a 32K loan with bad credit: Do I qualify?

There are $32K loans for all credit types. However, keep in mind that bad credit personal loans carry more risk. Therefore, high-risk borrowers may have some difficulty getting approved, and they’ll likely get hit with more expensive interest rates if the application is successful.

To bump up your chances of approval, use the advice outlined in an earlier section. Remember to not submit too many applications in a short time as this will affect your credit score negatively.

Are there $32,000 personal loan alternatives?

Personal loans may be flexible and whatnot, but you might still want to look into other options when borrowing $32K. Fortunately, there are other viable options to help you out, including:

  • Credit cards. A credit card allows you to pay for a variety of purchases. You then repay the cost of those purchases in bits and pieces over time. Generally, credit cards have higher interest rates than personal loans, though there’s a workaround. You can apply for a credit card with a 0% balance transfer period, but be sure to pay off the full balance before the discount expires.
  • Home equity loans. Also called second mortgages, home equity loans offer a lump sum that’s secured by the amount of equity you have in your home.
  • Lines of credit. As with a credit card, a line of credit allows you to tap into a limited pool of cash without reapplying each time.

How do I find the best $32K personal loan option?

BestFind can help you compare $32,000 personal loans in one place. When you’re checking out our comparison table above, applying the filter ensures you’re comparing “apples to other apples,” and not “apples to oranges.” You’ll also want to consider the following factors to single out an option that works for your situation:

  • Interest rate. The interest rate is typically the first thing borrowers check out when browsing options. It’s the biggest determiner of how much you’ll end up paying back on top of what you borrow. Interest rates vary widely between lenders and depend on your credit score, repayment period, and whether the loan is secured. The best rate for you is the lowest rate you can secure, given your unique circumstances and preferences.
  • Total cost. Besides interest, fees and charges also drive up the total cost of your loan. First, check the comparison rate, which includes interest plus the usual fees. This gives you a quick estimate of how expensive the loan is. Next, investigate what other fees and charges may apply to avoid nasty surprises down the line.
  • Repayment flexibility. BestFind’s top recommendations include finding a loan with a repayment frequency that suits your pay cycle, whether that’s monthly, fortnightly, or weekly. Also, check for features like extra repayments, early payoff, or redraw facility that come without additional fees. Last but not least, find out if you’ll be able to manage your debt online.

Do I qualify for a $32,000 loan?

Generally, Australian lenders want applicants to meet the following requirements:

  • Be 18 years of age or older
  • Have Australian citizenship or permanent residency
  • Earn a regular income, whether employed or self-employed
  • Have a clean credit history

You’ll need to provide supporting documents, including ID, bank statements, payslips, and tax returns. Once you’ve confirmed your ability to meet these requirements, you can get the ball rolling by applying for your 32K loan online. Click through to the lender’s website using the “Go to Site” button in the table above.

Next, complete the online application form and then wait for the lender’s response.

Personal loan FAQs

Is a $32K personal loan right for me?

You can use the information in our guide to determine if a $32,000 personal loan is the best product for you. Generally, as long as you’re borrowing for a worthwhile cause and can afford the repayments, taking out a personal loan can be beneficial. You can even opt for unsecured credit if you don’t wish to put your assets at risk.

How long does it take to get approved for a $32K loan?

Turnaround times vary greatly, with some lenders responding in just minutes while others take considerably longer. Generally, the application review process for banks and credit unions is slower. In contrast, other online lenders use an automated process to fast-track the decision-making process. To speed up things and avoid delays on your end, double-check that you’ve supplied the correct information before applying.

Will applying for a $32K loan impact my credit?

Initially, yes. The rule of thumb is to not submit too many applications in a short space of time because you’ll end up with a lot of enquiries on your credit report. Keeping submissions to a minimum ensures your credit score can quickly recover once you start paying off your debt as agreed. The only exception is if the lender does a soft credit check that won’t impact your rating.

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