Unsecured Personal Loans Compare & Apply Online | BestFind
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Unsecured personal loans

We provide a range of flexible personal loans designed to suit your needs.

Overview

Minimum loan amount$5,000

Maximum loan amount$40,000

Minimum term (years)18 months

Maximum term (years)7 Years

Personal loan interest rates (base)8.95%

Personal loan comparison rate10.56%

Monthly repayments (approx)$333

Total repayments (approx)$12,020

Total interest repayments (approx)$2,020

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee4%, maximum $495

GO TO Now Finance

Other Fees & Information

Monthly fee$13

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 of26/06/2018

GO TO Now Finance

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We provide a range of flexible personal loans designed to suit your needs.

Overview

Minimum loan amount$5,000

Maximum loan amount$40,000

Minimum term (years)18 months

Maximum term (years)7 Years

Personal loan interest rates (base)8.95%

Personal loan comparison rate10.56%

Monthly repayments (approx)$333

Total repayments (approx)$12,020

Total interest repayments (approx)$2,020

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee4%, maximum $495

GO TO Now Finance

Other Fees & Information

Monthly fee$13

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 of26/06/2018

GO TO Now Finance

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We provide a range of flexible personal loans designed to suit your needs.

Overview

Minimum loan amount$5,000

Maximum loan amount$40,000

Minimum term (years)18 months

Maximum term (years)7 Years

Personal loan interest rates (base)11.45%

Personal loan comparison rate13.05%

Monthly repayments (approx)$346

Total repayments (approx)$12,465

Total interest repayments (approx)$2,465

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee4%, maximum $495

GO TO Now Finance

Other Fees & Information

Monthly fee$13

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 of26/06/2018

GO TO Now Finance

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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 of4/09/2018

GO TO NAB

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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)12.99%

Personal loan comparison rate16.42%

Monthly repayments (approx)$343

Total repayments (approx)$12,382

Total interest repayments (approx)$2,382

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 of12/01/2018

GO TO MyState

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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)13.49%

Personal loan comparison rate14.36%

Monthly repayments (approx)$344

Total repayments (approx)$12,410

Total interest repayments (approx)$2,410

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 of4/09/2018

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)12.99%

Personal loan comparison rate14.14%

Monthly repayments (approx)$345

Total repayments (approx)$12,445

Total interest repayments (approx)$2,445

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 of4/09/2018

GO TO Westpac

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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)$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 of23/10/2017

GO TO People's Choice Credit Union

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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)14.49%

Personal loan comparison rate15.51%

Monthly repayments (approx)$353

Total repayments (approx)$12,710

Total interest repayments (approx)$2,710

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 of4/04/2017

GO TO Bankwest

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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)15.49%

Personal loan comparison rate15.72%

Monthly repayments (approx)$354

Total repayments (approx)$12,754

Total interest repayments (approx)$2,754

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 of11/04/2016

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)15.50%

Personal loan comparison rate16.47%

Monthly repayments (approx)$356

Total repayments (approx)$12,829

Total interest repayments (approx)$2,829

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 feeTBA

Missed payment feeTBA

For debt consolidation?Yes

Sponsored No

Telephone1800 64 64 84

Data accurate as of17/05/2018

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, we could help you with an ANZ 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$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$680 pro-rata

Missed payment fee$20

For debt consolidation?Yes

Sponsored No

Telephone1800 801 485

Data accurate as of20/10/2017

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 of9/04/2016

GO TO Regional Australia Bank

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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)15.11%

Personal loan comparison rate17.35%

Monthly repayments (approx)$399

Total repayments (approx)$14,373

Total interest repayments (approx)$4,373

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee5.00%

GO TO SocietyOne

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

GO TO SocietyOne

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Unsecured personal loans

Getting an unsecured personal loan in Australia requires zero collateral whatsoever. They’re well worth looking into if you’d like to pay for something you don’t have the cash for right away. So if you’re hoping to take a trip overseas, remodel your home, or something similar, an unsecured loan can be very helpful.

Unsecured loans vs. secured loans

There are contrasts and similarities between secured personal loans which are guaranteed with collateral, and unsecured personal loans, which aren’t. First off, a secured loan involves you putting up an asset, such as your home or car, as security. If you default on repayments, your credit provider can to seize and sell the asset to recoup their losses. There is no such requirement for collateral with an unsecured personal loan. Related to this main difference are several other key things you’ll need to know:

  • Secured loans typically offer lower interest rates. Secured loan providers can sell your collateral to recover their costs if you     default. Thus, they take on less risk by extending you the loan and don’t require as much interest. This definitely doesn’t mean you need to put up security to land a low rate loan – far from it! The table above is a good place to start looking at different offers more closely.
  • Using the funds from your loan. Secured loans may place restrictions on the amount you can borrow, and the purchases you may make using the loan funds. A loan amount is often limited to the value of the asset you’ve used as collateral. Unsecured personal loans often don’t have such restrictions, so     you can use your credit to buy whatever you wish.

Let’s look closer at the features of unsecured personal loans.

Features of unsecured personal loans

Loan amounts for which no security is required

As noted, unsecured loans require no security. Being uncapped by the value of collateral, therefore, they tend to involve larger loan amounts. This might seem tempting at first glance, but you’ll want to consider your ability to repay before you commit to anything!

In Australia, you’ll find different loan providers vary in how much they are willing to lend you. Often this can depend on your credit standing and what you plan to use your funds for. This isn’t a bad thing at all. Rather, it means there are lots of loan products out there to compare and contrast.

Repaying your unsecured personal loan

Just as loan amounts vary, loan repayment periods for your zero security loan will vary too based on several facets. The amount you repay each month or fortnight will be determined by the interest rate, loan amount, loan term, and fees of your unsecured loan. It’s recommended that you think about whether a certain monthly repayment will be realistic for you before choosing a loan.

While considering repayments, check whether the loans you are looking at charge a fee for making additional repayments. The freedom to make early repayments when you come into money can be great if you want to be debt-free sooner.

Charges and fees

The most common fees associated with Australian personal loans are setup or establishment fees, and maintenance or ongoing fees. As shown in the ‘Other Fees & Information’ section of our should comparison tables, you should also keep an eye out for other charges. These may include repayment redraw fees, early repayment or prepayment fees, late repayment fees, and additional repayment fees.

Interest rate options

When browsing unsecured personal loan offers, you’ll find both fixed-rate and variable-rate loans. With fixed-rate unsecured loans, you’ll know exactly what you’ll be paying in advance – each month, and in total. This can be an advantage over variable interest loans because you’ll pay more interest for the latter if market interest rates rise. Correspondingly, when market rates drop, you’ll miss out on a low rate if you’ve gone for a fixed-rate unsecured loan.

Redraw facility

An unsecured personal loan with a redraw facility will let you make repayments earlier should you come into some cash. On the other hand, if you want to redraw these extra repayments later, a redraw facility lets you do this too.

Unsecured personal loans vs. credit cards

Most Aussies are aware that credit cards can often come with painfully high interest rates! Here are some other things to keep in mind:

  • Credit cards offer you the benefit of a relatively flexible schedule for repayment;
  • Credit cards allow you interest-free days to take advantage of, another point in their favour;
  • On the other hand, credit cards often have much higher interest rates than unsecured loans.

How can I find a low rate personal loan?

Two of the most common features you’ll find on comparison websites are comparison rates and advertised rates. The best way to find the lowest interest rate personal loan is usually to use the advertised rate, which is a figure for exactly that – the interest rate of the unsecured loan.

You can look at comparison rates to get a more holistic picture of how much a low rate personal loan will cost you over time. Because they integrate loan size, total repayment period, and loan fees, they are very handy for comparing different loan products. A comparison rate is thus a percentage figure which better represents a loan’s interest rate once these costs are factored in.

Where can I find low interest unsecured loans?

The Big 4 Australian banks: Commonwealth Bank, ANZ, Westpac, and National Australia Bank always have unsecured loans on offer. You’ll also find them from smaller banks like Macquarie, HSBC, Bank of Queensland, and similar.

Look online for peer-to-peer credit providers like SocietyOne and RateSetter, and non-bank loan providers like Liberty and Now Finance to extend your search. You’ll find offers from a diverse array of lenders in the above table—and hopefully, you now feel equipped to make an informed comparison.

Am I eligible for an unsecured personal loan?

Here are some of the most common eligibility criteria for Australian loans:

Age: You’ll typically have to be over either 18 or 21

Credit history: When you compare personal loans, you may notice some lenders offering higher or lower interest depending on whether your score is below average, average, good, or excellent. If you have no defaults in your credit history, this is a big plus. If you apply for finance a lot, this may damage your chances of being approved.

Employment: Sometimes a lender will extend you a loan only if you are in regular employment. Some will approve loans for people on benefits or a pension.

Income: As a minimum, somewhere in the range of $45,000 to $55,000 is most common

Financial circumstances: By looking at your salary alongside your liabilities, lenders can gauge whether you’re really in a position to repay the loan. A credit card which has a high limit might be viewed as a liability – even if you’ve no debts outstanding on it.

Australian citizenship: The majority of lenders loan money only to citizens or permanent residents. Some will approve those holding a valid visa, but only a few will approve loans for those on a 457 visa.

Applying for an unsecured personal loan

Whether or not you’ll be approved for a loan is based heavily on the extent to which you fulfill the eligibility criteria. It’s highly recommended you check our blog post on the amount you might be able to borrow and whether you’ll get approved. If you’ve got existing loans you’re struggling to repay and you think you won’t get approved, consider saving instead.

Things you may need to provide include:

  • Proof of income or stable employment that the lender can verify using your employer’s details and copies of recent payslips.
    If you are self-employed, supply your bank statements covering the past year. Provide your latest business or personal tax return. Both of these should be recent and from the past 18 months.
  • Documents showing your expenses, liabilities, and assets.
  • Recent financial statements from your bank dating back at least three months.
  • Your passport or driver’s license as proof of identification.

How can I spend my loan?

Some restrictions may apply, so it’s good to ask the loan provider before making an application. Otherwise, this should be the easy part, for most people! Some of the most popular personal loan purposes include: