Important disclosure

Fixed Rate Personal Loans

Are you searching for a personal loan with no surprises? Compare fixed rate personal loans below and use our calculator to find a budget-friendly option with a rate that won’t stray and repayments that never change.

Compared fixed personal loans

Loan Amount

$10,000

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
An award-winning, low interest personal loan with no ongoing fees. Get your rate in 60 seconds and bring your big ideas to life today.
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.*
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.
MoneyPlace

Unsecured Personal Loan - Fixed (Excellent credit)

EST Monthly Repayment
EST Monthly Repayment
7.24%
Advert. Rate (p.a)
Comparison rate
Our loans are better because we understand you better. A range of personal loans, for all the right reasons.
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.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Unsecured) - Good

EST Monthly Repayment
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.
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.
NRMA

NRMA New Car Loan (Credit Score +832)

EST Monthly Repayment
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
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.
Liberty

Secured Personal Loan - Excellent Credit

EST Monthly Repayment
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.
MoneyPlace

Secured Personal Loan - Fixed (Excellent credit)

EST Monthly Repayment
EST Monthly Repayment
6.66%
Advert. Rate (p.a)
Comparison rate
Secure your personal loan with a vehicle you own as security to access a lower rate, a higher lending limit, or both.
NRMA

NRMA Used Car Loan (Credit Score +832)

EST Monthly Repayment
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.
NRMA

Personal Loan (Secured) (Credit Score +832)

EST Monthly Repayment
EST Monthly Repayment
10.49%
Advert. Rate (p.a)
Comparison rate
Whether you require funds for elective surgery, a wedding or looking to give your home a makeover, the NRMA can help you achieve your goals with a competitive personal loan.
Plenti

Plenti - Personal Loan - Very Good Credit

EST Monthly Repayment
EST Monthly Repayment
12.49%
Advert. Rate (p.a)
Comparison rate
An award-winning, low interest personal loan with no ongoing fees. Get your rate in 60 seconds and bring your big ideas to life today.
Liberty

Secured Personal Loan - Good Credit

EST Monthly Repayment
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.
MoneyPlace

Secured Personal Loan - Fixed (Good credit)

EST Monthly Repayment
EST Monthly Repayment
10.57%
Advert. Rate (p.a)
Comparison rate
Secure your personal loan with a vehicle you own as security to access a lower rate, a higher lending limit, or both.
Liberty

Unsecured Personal Loan - Good Credit

EST Monthly Repayment
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.
MoneyPlace

Unsecured Personal Loan - Fixed (Good credit)

EST Monthly Repayment
EST Monthly Repayment
11.49%
Advert. Rate (p.a)
Comparison rate
Our loans are better because we understand you better. A range of personal loans, for all the right reasons.
Bankwest

Flexible Personal Loan

EST Monthly Repayment
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!
St.George Bank

Unsecured Personal Loan (Fixed)

EST Monthly Repayment
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.
Westpac

Westpac Unsecured Personal Loan

EST Monthly Repayment
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.
NAB

NAB Fixed Rate Personal Loan

EST Monthly Repayment
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
Wisr

Platinum Unsecured Personal Loan

EST Monthly Repayment
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.
People's Choice Credit Union

Unsecured Personal Loan

EST Monthly Repayment
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.

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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Fixed rate personal loans – Keep your budget predictable

A flexible personal loan can pave the way for your dream wedding, holiday, car, or more. But you may not always want a flexible interest rate to go along with it. Instead, like most Aussie borrowers, you’re likely keen to avoid any uncertainty over your household budget.

That means choosing a locked rate that fixes your repayments to the same spot. Before you sign on the dotted line, read up on fixed rate personal loans to make sure you’re getting the best deal.

What’s a fixed rate personal loan?

A fixed rate personal loan does justice to its name by offering you a constant interest rate over the life of your loan. If your rate is set in stone, the domino effect includes locked repayments, a budget you can control, and more financial security and peace of mind.

A fixed rate will stay stable because it’s not under the influence of the Reserve Bank cash rate. So even if market rates shoot up, a fixed rate weathers the storm. In the same vein, if rates tumble, a fixed rate will also sit it out. Generally, most Australian lenders offer this type of loan, which is often the more common option for borrowers.

How do fixed rate personal loans work?

If your application is approved and you accept the rate on offer, that rate won’t change until you clear your debt. Typically, the lender calculates your rate based on the size of your debt, the time you’ll take to repay, your credit rating, the current trends in market rates, plus a host of other factors. Besides a locked interest rate, the loan also comes with the following parts:

  • Loan amounts. On average, you can pocket between $2,000 and $50,000 depending on your borrowing capacity. Your borrowing capacity is in turn affected by a stack of factors, including the health of your credit rating and income and whether the debt is secured or unsecured.
  • Loan terms. Generally, repayment periods can last as long as 12 or 24 months for small personal loans and 5 or 7 years for larger sums.
  • Monthly repayments. Settling your debt means you’ll have to send regular repayments through to the lender. Although fixed-rate loans offer security budget-wise, it’s best to figure out what you’ll actually be paying before the agreement kicks in. Our fixed rate personal loan calculator is an easy-to-use tool if you want to find a monthly repayment that keeps your budget stable. Simply plug in your amount and term, and it does the math for you.

Pros of fixing your rate

  • Easy budget work. Keeping a pulse on your budget is easier since you already know what your future repayments will be.
  • Protection from rate increases. If market rates hike upwards, your repayments will remain untouched. That means you pay for exactly what you ordered for each instalment.
  • You can calculate the total cost of the loan beforehand. This is handy if you want to factor in your long-term financial goals when taking out a personal loan.

Cons of fixing your rate

  • Less flexible. Your fixed rate loan might lack features like redraw facilities and the option to make early repayments. If the lender allows you to make early repayments, they may charge a fee.
  • Higher interest rates. You’ll often start out with a higher rate when you choose to fix.
  • No benefits when the cash rate decreases. Unfortunately, protection from interest rate increases also means you won’t enjoy any low-interest benefits when the cash rate falls.

Variable rate loans vs fixed rate personal loans

Another type of interest rate that’s also offered by Australian lenders is the variable rate. Variable interest rates “track” changes in the Bank of Australia’s cash rate and adapt accordingly. In other words, the rate isn’t locked and might fluctuate at one time or another.

Although fixed rate loans usually fly off the lender’s shelves faster than variable rate loans, having an unlocked rate has its own merits. You can read up more on this in our variable rate personal loans guide.

Types of personal loans with fixed interest rates

Personal loans with fixed rates can be split into two types – those which require collateral and those which don’t:

  • Secured fixed rate personal loans. In this arrangement, collateral backs your debt and provides security for the lender who can collect your asset if you default. Collateral can be the asset you’re purchasing with the borrowed funds as with car loans. Or it can be property that you already own. Since you’re reducing the lender’s financial risk, you’ll likely end up with a lower rate. You can also get approval if you have bad credit or grey areas in your eligibility status.
  • Unsecured fixed rate personal loans. With this loan option, there’s no collateral required. But since you’re not giving the lender a guarantee for the money you borrow, they can only hand out funds if your credit rating is in good shape. In addition, you might have to pay a higher interest rate to minimise the lender’s risk.

When should you choose a fixed rate?

Generally, you’ll likely fare better with a fixed rate under the following circumstances:

  • Your budget can’t take any “shocks.” If you’re already running on a tight budget, squeezing in more finance costs after a rate increase might leave you struggling. A fixed rate removes this risk, making it safer, particularly when you can’t be sure about the future of your income.
  • You need a longer repayment period. If you’re planning to hang onto your debt for longer, a fixed rate makes sense. That’s because it’s harder to predict market trends for the long run.
  • Interest rates are predicted to rise. When the market looks uncertain, it’s best to push for stability and security by fixing. Your rate will remain on the lower side even if market rates spiral up.

How to choose the best fixed rate personal loan for your needs

The straight path to securing the best fixed rate deal typically involves taking the following steps:

  • Consider the comparison rate. A low interest fixed rate personal loan may help you save hundreds or even thousands of dollars over the long term. But the “real” rate for your loan is one that combines the interest rate plus fees and charges. This rate is the comparison rate, and looking for the lowest comparison rate possible helps you locate the cheapest fixed rate personal loans on the market. Also, be mindful of other charges and fees that might exist outside the comparison rate. These can also impact the true cost of your loan when activated.
  • Check for repayment flexibility. A flexible personal loan comes with the go-ahead to make extra repayments if you want to. It’s a bonus if the lender doesn’t charge early repayment fees. Paying off your loan faster allows you to reduce interest costs, which leaves you with more cash flow to do other things.
  • Get a personalised quote. You may not always be able to get the advertised rate, so a quote shows what the lender is actually willing to offer you. However, you need to tread carefully. Some lenders carry out hard credit checks when you apply, and this can leave a mark on your credit file. Instead, it’s best to get quotes from lenders that only use soft search tools since this won’t affect your credit score.
  • Look for a flexible lender. Some credit providers offer well-rounded loan packages that include discounts and online accounts that help you stay on track with your repayments. Other perks include redraw facilities that allow you to withdraw the extra repayments you’ve sunk into your loan.

How to apply for a personal loan with a fixed rate

Comparing options and choosing a personal loan that fits your bill becomes easier if you’re using our product table above. Once you’ve made your choice, go ahead and click the “Go to Site” button. Keep in mind that applying on the lender’s website generally requires you to have some info and documents on hand:

  • Personal and contact details
  • Employment details
  • Details about expenses, assets, liabilities, and other debts you have
  • Proof of identification that shows you’re an Australian citizen who’s 18 years and above
  • Proof of income – payslips and bank statements

Fixed rate personal loans FAQ

Can I use a fixed rate personal loan for anything?

Personal loans have many uses, including debt consolidation, which bundles all your other debts into one repayment. However, it’s best to check with the lender to make sure they approve the use you have in mind.

Which fees should I look out for when applying?

Common fees to watch out for include:

  • Application fees
  • Establishment fees
  • Monthly or annual fees
  • Late payment fees
  • Early repayment fees
  • Redraw fees

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