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Important disclosure

A guide to getting a $5,000 personal loan

Below, BestFind explores what you should know about getting a $5,000 personal loan.

Where to get a $5K personal loan

There are two main types of Aussie lenders you may choose from:

  1. Traditional lenders. This option includes the Big Four and reputable smaller banks and credit unions.
  2. Alternative lenders. These include online and peer-to-peer. Most alternative lenders have fast turnaround times and could be your best bet if you need $5,000 in a hurry. Additionally, in most cases, you’ll only get a competitive rate if your credit score is in decent shape.

General requirements for getting a $5K loan

  • Be over the age of 18
  • Be a permanent Australian resident
  • Have a regular source of income
  • Provide required documentation such as ID, payslips, bank statements, and proof of address
  • Provide personal and contact details as well as information about your expenses and other debts.

How to apply for a $5,000 personal loan

Following these simple steps will help increase your chances of being approved:

  • Check your credit score. Every responsible lender has to review an applicant’s credit file before handing out funds. Checking your credit score before applying gives you an idea of what to expect. It also allows you to fix any errors that might give a bad impression.
  • Compare options and take your pick. Take your time and compare as many options as possible. It’s easier if you are using our table below since all these options are in one place.
  • Calculate your monthly repayments. To find out what your monthly repayments will be for a $5,000 loan, use our calculator. The estimate you get will vary depending on your term. A lengthy-term gives you affordable repayments but higher costs overall. On the other hand, a short term comes with larger repayments, but you save on interest in the long run.
  • Check eligibility criteria. Although we’ve specified general requirements for qualifying, be sure to double-check with your preferred lender. Lending criteria may vary slightly between providers.
  • Complete the online application form. In the same product table below, click “Go to Site” to access the lender’s website. Next, fill in the online form that awaits you and upload any required documents.
  • Get your funds. If approved, you then accept the offer, after which the funds are released to you.

Calculate loan repayments

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. The 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)$152

Total repayments (approx)$5,472

Total interest repayments (approx)$472

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$0

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)5.45%

Personal loan comparison rate6.07%

Monthly repayments (approx)$158

Total repayments (approx)$5,702

Total interest repayments (approx)$702

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 of30/06/2021

GO TO OurMoneyMarket

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Money can be available in your bank account in as little as 60 minutes. Easy online application with low rates, fast approvals, and no early exit fees. Thousands of 5-star customer reviews.

Overview

Minimum loan amount$2,100

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)5 years

Personal loan interest rates (base)6.25%

Personal loan comparison rate7.64%

Monthly repayments (approx)$168

Total repayments (approx)$6,051

Total interest repayments (approx)$1,051

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$495

GO TO MoneyMe

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleFortnightly/Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$15

For debt consolidation?Yes

Sponsored Yes

Telephone1300 329 037

Data accurate as of03.03.2021

GO TO MoneyMe

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Consolidate your credit cards and other loans into one low monthly repayment with OneDebt. Low rates with approvals typically within 60 minutes. Flexible repayments with no early exit fees. Backed by thousands of 5-star reviews. Must be employed with decent credit history.

Overview

Minimum loan amount$15,001

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)5 Years

Personal loan interest rates (base)6.25%

Personal loan comparison rate7.64%

Monthly repayments (approx)$168

Total repayments (approx)$6,051

Total interest repayments (approx)$1,051

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$495

GO TO OneDebt

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

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 of29/09/2021

GO TO OneDebt

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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)5.35%

Personal loan comparison rate5.65%

Monthly repayments (approx)$158

Total repayments (approx)$5,694

Total interest repayments (approx)$694

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 of30/06/2021

GO TO OurMoneyMarket

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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)5.45%

Personal loan comparison rate6.07%

Monthly repayments (approx)$158

Total repayments (approx)$5,702

Total interest repayments (approx)$702

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 of30/06/2021

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)$161

Total repayments (approx)$5,799

Total interest repayments (approx)$799

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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Money can be available in your bank account in as little as 60 minutes. Easy online application with low rates, fast approvals, and no early exit fees. Thousands of 5-star customer reviews.

Overview

Minimum loan amount$2,100

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)5 years

Personal loan interest rates (base)6.25%

Personal loan comparison rate7.64%

Monthly repayments (approx)$168

Total repayments (approx)$6,051

Total interest repayments (approx)$1,051

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$495

GO TO MoneyMe

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleFortnightly/Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$15

For debt consolidation?Yes

Sponsored Yes

Telephone1300 329 037

Data accurate as of03.03.2021

GO TO MoneyMe

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)$160

Total repayments (approx)$5,780

Total interest repayments (approx)$780

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)$161

Total repayments (approx)$5,799

Total interest repayments (approx)$799

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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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)$168

Total repayments (approx)$6,078

Total interest repayments (approx)$1,078

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)$168

Total repayments (approx)$6,078

Total interest repayments (approx)$1,078

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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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)$172

Total repayments (approx)$6,197

Total interest repayments (approx)$1,197

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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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)$173

Total repayments (approx)$6,231

Total interest repayments (approx)$1,231

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)$173

Total repayments (approx)$6,231

Total interest repayments (approx)$1,231

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

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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)$174

Total repayments (approx)$6,291

Total interest repayments (approx)$1,291

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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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)$174

Total repayments (approx)$6,292

Total interest repayments (approx)$1,292

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

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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)$179

Total repayments (approx)$6,458

Total interest repayments (approx)$1,458

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)$181

Total repayments (approx)$6,517

Total interest repayments (approx)$1,517

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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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)$181

Total repayments (approx)$6,529

Total interest repayments (approx)$1,529

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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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)$182

Total repayments (approx)$6,554

Total interest repayments (approx)$1,554

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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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)$182

Total repayments (approx)$6,574

Total interest repayments (approx)$1,574

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)11.40%

Personal loan comparison rate12.27%

Monthly repayments (approx)$184

Total repayments (approx)$6,632

Total interest repayments (approx)$1,632

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)13.40%

Personal loan comparison rate14.28%

Monthly repayments (approx)$189

Total repayments (approx)$6,825

Total interest repayments (approx)$1,825

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)16.40%

Personal loan comparison rate17.31%

Monthly repayments (approx)$197

Total repayments (approx)$7,121

Total interest repayments (approx)$2,121

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)$206

Total repayments (approx)$7,429

Total interest repayments (approx)$2,429

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

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We understand no two borrowers are the same. That's why our rates are personalised to your credit history. The better your credit history, the lower your interest rate.

Overview

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term (years)2 Years

Maximum term (years)5 Years

Personal loan interest rates (base)16.79%

Personal loan comparison rate19.07%

Monthly repayments (approx)$231

Total repayments (approx)$8,318

Total interest repayments (approx)$3,318

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee5.00%

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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$35

For debt consolidation?Yes

Sponsored No

Telephone-

Data accurate as of18/01/2018

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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.

What type of loan are you looking for?

What can I use my loan for?

  • Debt consolidation
  • Medical bills
  • Car repairs
  • Emergencies and unexpected expenses
  • Holidays

You can also use the cash to top up your savings, so you have enough to cover that dream wedding, swimming pool installation, or whatever floats your boat.


What are the repayments on a $5,000 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 great.

Typical repayments on $5,000 over 36 months:

  • Application or establishment fee: $0 to $450
  • Monthly fee: $0 – $10
  • Interest rate: Between 7% and 19%
  • Monthly repayments: Between $172 and $202
  • The total cost on a $5,000 personal loan: Between $6,196 and $7,288

How to compare $5,000 loan options

The personal loan market is awash with many $5K offers. Comparing them is easy if you know what you’re looking for. Below, we’ve earmarked top factors to consider when choosing an option that suits you most.

  • Interest rate. Some lenders offer personalised rates, while others have a one-size-for-all approach. Rates also depend on whether the loan is secured or unsecured. The bottom line is to get the most competitive rate possible for your preferred loan type.
  • Comparison rate. A low-interest rate is not the only feature of a cheap personal loan. If you need a quick idea of the true cost of your loan, glancing at the comparison rate can help. That’s because it combines the interest rate as well as standard fees and charges. Therefore, if there’s a huge difference between the advertised rate and the comparison rate, the loan might be too expensive.
  • Fees and charges. While the comparison rate indicates the true cost of the loan, you’ll still need to break down the fees, especially since some of them may not be included in the comparison rate. Typically, lenders charge an establishment or application fee and ongoing monthly account keeping fees. Other fees such as early repayment fees and dishonour fees may apply.
  • Repayment flexibility. Repayment frequency can be weekly, fortnightly, or monthly. Make sure you’ll be able to choose an option that’s tailored to your pay cycle. Generally, a loan is considered flexible if you can make additional repayments and pay off your debt early without penalty. Additionally, you should be able to withdraw your extra repayments via a redraw facility.

FAQs

Can you get a $5,000 personal loan with bad credit?

Yes, but at a higher cost. That’s because bad credit personal loans are riskier for the lender. The lender will therefore offset this risk by charging higher fees. However, the ASIC regulates what lenders charge, which is why it’s a good idea to deal with licensed lenders only. This helps you avoid disreputable lenders with predatory fees that may worsen your financial situation.

How quickly can I get the money?

This depends on the lender. Some lenders are upfront with this information, so you know beforehand when to expect the money. Turnaround time can be as fast as a few hours or as slow as a couple of weeks.

Can I still get a $5,000 loan if I’m self-employed?

Yes, keep in mind the lender is mainly concerned about your ability to make repayments. If you’re self-employed and can provide sufficient proof of income, such as tax returns and bank statements, then you are good to go.

What if I want to borrow more or less than $5,000?

Some credit providers do offer amounts below $5,000. (Related: Small personal loans). You can also apply for any amount up to $100K.