Important disclosure

Good Credit Personal Loans

If your credit rating is a step down from excellent, you may still qualify for a best-buy loan deal. Find out what’s available in our comparison table below and make sure you keep things affordable by using our good credit personal loans calculator.

Calculate your repayments

Loan Amount

$10,000

Term

3 months

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.*
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.
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.
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.
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.
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.
St.George Bank

Unsecured Personal Loan (Variable)

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 Variable Rate Personal Loan

EST Monthly Repayment
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
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.
The Mac

Personal Loan Unsecured

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
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.
Arab Bank

Unsecured Personal Loan - Variable

EST Monthly Repayment
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!
ANZ

ANZ Variable Rate Loan

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
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.
Regional Australia Bank

Personal Loan

EST Monthly Repayment
EST Monthly Repayment
15.99%
Advert. Rate (p.a)
Comparison rate
All-purpose Personal Loan for quick and easy funds when you need them.

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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What type of loan are you looking for?

Good credit personal loans – Get better than average finance

Having a good credit score means you can still make the cut when it comes to personal loans with competitive interest rates and flexible terms. If you need extra cash to cover a wedding, holiday, dentist bill, or another worthwhile purpose, good credit opens the door to more loan offerings than average.

But before you take your pick, review what BestFind has to say about finding a good credit personal loan that’s best for your needs.

What’s a good credit personal loan?

When you approach a lender for funds, your credit score is a rating that signals your standing in the hierarchy of Australian borrowers. A good credit score is between 625 and 739, though this may fall into the “very good” category somewhere between 700 and 799.

It tells the lender you’re a low-risk, responsible borrower who can be trusted to make repayments on time. That’s because you usually can’t pull such high numbers unless you have a clean and strong credit history.

The ranges mentioned above are based on Equifax and Experian’s scores, two of Australia’s main credit reporting agencies. Another credit reporting agency, Illion, also has a different set of good credit scores, which further broadens the range. Generally, credit scores vary depending on the credit scoring model and algorithms used. In any case, good credit loans usually tie-in the following benefits:

  • Easy credit approval. Keep in mind that approval always remains at the discretion of the lender. However, having good credit does make it easier to get a yes.
  • Affordable interest rates. Financial institutions don’t dole out credit on blind trust. But they usually can’t argue with a good credit score since it’s hard proof of your creditworthiness. You can use it to leverage a lower rate and more savings in exchange for reducing the lender’s risk.
  • Faster achievement of your financial goals. Applying for and receiving finance the easy way ensures you get the extra funding you need to set your goals in motion much more quickly.

How do personal loans for good credit work?

Good credit loans generally have the following features:

  • Interest rates. Market rates are always fluctuating, but with good credit, you have a better chance of receiving an offer lower than the headline rate. This could save you hundreds or thousands of dollars, depending on how much you borrow. However, the rate you end up with also depends on whether the lender offers risk-based pricing and your income details and financial situation.
  • Fees. Loan fees and charges that may apply include application fees, establishment fees, monthly services fees, and late payment penalties.
  • Loan amounts. Minimum and maximum borrowing limits are fluid across many lenders. Therefore, what you get depends on how well you meet each lending criteria, but typically, there’s a broad range between $2,000 and $100,000.
  • Loan terms. Again, this varies between lenders, but you can expect to make repayments over any period between a year and 7 years.

What are the available types of good credit personal loans?

Here are some types of personal loans you can access when you have good credit:

  • Unsecured personal loans. Unlike secured personal loans, where your application’s strength depends on the type of collateral you have, unsecured loans do not need an underlying asset. The lender awards you credit based mainly on your ability to pay back. However, expect to pay higher interest rates than those for secured loans. Also keep in mind that while there’s no risk of losing your asset, the lender can always take legal action against you if you default.
  • Peer-to-peer loans. P2P lenders generally have a reputation for offering attractive deals to Australian borrowers with good credit. P2P loans don’t originate from traditional banks or credit unions. Instead, you get funding from a bunch of investors that you match up with online via a secure platform.
  • Car loans. A car is a big purchase and having good credit is a boon if you’re looking for car finance. Most car loans are secured, which further boosts your potential interest savings. You’ll likely end up with fewer out-of-pocket expenses and flexible terms that allow you to repay your debt comfortably.

How to compare good credit personal loans to find the right deal

It’s generally true that your good credit does most of the work to secure a better deal. But it’s up to you to settle on the financial product or lender that suits your budget and objectives. Asking the following questions helps push you towards a conclusive and beneficial decision:

  • What’s the comparison rate? – The promise of a low rate shouldn’t blind you to high-cost fees and charges that can overturn your budget. The comparison rate is a handy percentage that better represents the total cost of the loan after the interest rate, and fees are rolled together. Give it the attention it deserves but don’t skip reading the fine print in case other fees are not included.
  • Does the loan have flexible features? – When taking out debt, it’s best to approach the process with an eye towards how quickly you can free yourself. This ensures borrowing doesn’t become a huge financial trap. Therefore, it’s practical to opt for offers that allow extra repayments and early exits while charging little or nothing for these features.
  • What’s the size of my repayments? – If you’re planning on maintaining or improving your credit rating, affordable repayments ensure you won’t struggle to meet due dates. Give our personal loan repayment calculator a few tries to find an estimate that helps keep you in good favour with lenders.
  • What sets the loan apart from others? – You may already be satisfied with getting some of the best rates on the market. But you could add icing on the cake by choosing a loan with better, additional features. For instance, you could have access to redraw facilities that enable you to withdraw from your pool of extra repayments during tough times. Some lenders also offer online accounts where you can track and manage your loan’s progress.

Will a good credit personal loan improve your credit score?

In the hands of a responsible borrower, a personal loan can be leveraged to boost your credit score further. If you already have good credit, you can cement your proven track record in the following ways:

  • Clean payment history. By shopping for the lowest rate available and choosing an affordable repayment, it’s easier to keep making payments on time.
  • More credit mix. If you already hold other types of credit, such as credit cards and home loans, taking out a personal loan gives you more variety. This is a factor that’s often used by CRBs when calculating credit scores.

Credit score building tips

If you’re an ambitious borrower, there’s no harm in aiming for an excellent credit score. After all, it only translates into more savings and better deals. These tried and tested tips have helped many Aussie borrowers boost their credit score:

  • Check for credit file errors. You can access your credit report from any of the three CRBs: Equifax, Experian, and Illion. Check to see if the information reflects what’s on the ground and contact the relevant CRB to patch up any errors.
  • Don’t miss due dates. Making payments on time is one of the biggest factors contributing to your credit score. If this isn’t one of your strengths, you can always sign up for direct debit or auto payments.
  • Reduce your credit utilisation ratio. Try to strike a balance between your credit mix and the amount of debt swallowing your budget. Paying down debt reduces your debt-to-income ratio, which is another significant step towards becoming the ideal borrower.

What to avoid when trying to improve your credit score

Knowing what to do is one side of the equation when it comes to building your credit score. You should also know what not to do:

  • Skipping payments. It’s the single most damaging thing you can inflict on your credit rating, and the effects can remain visible for years.
  • Too many credit applications. This usually applies if numerous credit enquiries show up in a short space of time. Lenders looking at your credit file will likely mark you as a desperate and risky borrower.
  • Incurring negative judgements. Any court actions and defaults can keep your credit score in the lower ranks by as long as 7 years.

The bottom line

A good credit score isn’t the only ticket you need to qualify for a personal loan. However, in most cases, it might get you fast approval and better rates. If you’re interested in applying for a good credit personal loan through BestFind, follow these four simple steps:

  • Compare your loan options – Comparing personal loans is the quickest path to find finance that suits your budget and needs.
  • Use our repayment calculator – Enter your term and amount to estimate your monthly instalment.
  • Check for requirements – Minimum requirements state that you must be 18 years or older and an Australian citizen.
  • Click “Go to Site” – Fill in the required details and submit relevant documents on the lender’s application page.

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