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Two-year fixed rate personal loans

Find a competitive rate to help finance a personal purchase and pay it off over two years.

A fixed rate loan can give you a way to finance what you want while keeping your repayments the same for the duration of the loan term. There are a few different loan terms available. This guide will take you through two-year fixed rate personal loans, what types you can consider applying for and how you can compare your options.

SocietyOne Unsecured Personal Loan

SocietyOne Unsecured Personal Loan

from

7.50 % p.a.

fixed rate

from

9.51 % p.a.

comparison rate

  • A and AA grade borrowers
  • Must be employed
  • Min. loan amount $5,000
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SocietyOne Unsecured Personal Loan

Use your loan for a holiday, home improvement, a special project or even a wedding. Access to additional repayments through redraw facility.

  • Interest rate from: 7.50% p.a.
  • Comparison rate: 9.51% p.a.
  • Interest rate type: Fixed
  • Application fee: 3% (of loan amount)
  • Minimum loan amount: $5,000
  • Maximum loan amount: $50,000
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Loans you can fix for 2 years

Rates last updated February 18th, 2018
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Product Description
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
3% (of loan amount)
Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan. Apply before 31 March 2018 to earn 2 Velocity Points for every $1 you borrow.
HSBC Personal Loan
From 9.5% (fixed)
10.06%
$5,000
1 to 5 years
$150
A competitive fixed interest rate loan with the option to make extra repayments. Rates range from 9.50% p.a. to 15.99% p.a. based on your credit history.
NAB Personal Loan Unsecured Fixed
11.99% (fixed)
12.87%
$5,000
1 to 7 years
$150
An unsecured personal loan with a competitive fixed rate that you can make additional repayments to without penalty. Note: You must have held a NAB credit card or transaction account for at least 6 months before applying.
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.42%
$4,000
1.5 to 7 years
$395 (Based on $10,000)
Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 18.95% p.a. depending on your credit score.
Heritage Bank Standard Personal Loan
From 10.94% (fixed)
11.57%
$5,000
1 to 5 years
$200
A competitive personal loan available up to $50,000.
BOQ Unsecured Fixed Personal Loan
9.99% (fixed)
10.5%
$3,000
1 to 5 years
$0 (Application fee waived for applications received until 25 February 2018)
Apply for up to $40,000 and have up to 5 years to repay your loan. Discounted interest rate and $0 application fee if you apply before 25 Feb 2018 and your loan is settled by 18 March 2018.
MyState Unsecured Personal Loan
From 12.99% (variable)
16.42%
$3,000
1 to 7 years
$200
Apply for up to $50,000 and make additional repayments at any time without penalty.
Westpac Unsecured Personal Loan
From 12.99% (fixed)
14.14%
$4,000
1 to 7 years
$250
Borrow up to $50,000 for a term of up to 7 years with this unsecured loan. Apply before 28 February 2018 for a 1% p.a. interest rate discount. Conditions apply.
St.George Unsecured Personal Loan - Fixed Rate
From 12.99% (fixed)
14.06%
$2,000
1 to 5 years
$0 (On new loan applications before 28th February 2018.)
Convenient redraw facility and flexible personal loan repayment options with a competitive interest rate. Apply before 28 Feb 2018 for a $0 application fee. Conditions apply.
ANZ Fixed Rate Personal Loan
From 10.99% (fixed)
11.87%
$5,000
1 to 7 years
$150
Apply for up to $50,000 to use however you choose and benefit from a competitive fixed rate.

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How do two-year fixed rate personal loans work?

When you apply for a fixed rate loan, the rate on your contract stays in place for the duration of the two-year term. At the end of the two years, a variable rate may come into effect (if this is how your contract is set up) or, more likely, your loan will be paid out.

Repayment schedules differ between lenders, but the options available are usually weekly, fortnightly or monthly. Fixed rate loans can be secured or unsecured and you can use them to pay for a car, a holiday, home renovations or even to consolidate debt.

What types of fixed rate personal loans are available?

There are a few types of fixed rate personal loans you can apply for, including:

  • Car loan
    Finance your new or used vehicle purchase and pay it off over a two-year period. As the loan is secured, you’ll find more competitive rates on offer.
  • Secured personal loan
    More than a car can be used as security for a loan – motorcycles, jetskis, boats and even term deposits can be used as guarantees on a fixed rate loan. Find out more in our secured loans guide.
  • Unsecured personal loan
    If you need a flexible loan amount, want to finance a few purchases or you’re looking to consolidate debt, an unsecured fixed rate loan may be an option to consider.

couple looking at screen

How you can compare your two-year fixed rate loan options

If you’re considering a fixed rate loan with a two-year term, the first step is comparing what options are available to you. Here are some features to keep in mind.

  • Interest rate. This rate will stay in place for two years, so make sure it’s competitive.
  • Fees. Is there an establishment fee? What about monthly or annual fees? These can add significantly to the cost of the loan over a two-year period.
  • Eligibility criteria. Are you eligible for the loan? This is one of the most important aspects to take into account. Check minimum age, employment and financial criteria.

Weigh up the benefits and drawbacks of these loans

  • Your repayments will remain the same for the entire two-year term
  • Fixed two-year terms will see your debt repaid in a relatively short period
  • Fixed rate personal loans generally come with more restrictive repayment terms, including charges or limits for additional repayments
  • Depending on how much you borrow, your ongoing repayments may be high

Still have questions about fixed rate personal loans?

What other fixed rate terms are available?

You can apply for a fixed rate personal loan with terms of one, two, three, four, five, six or seven years.

Can I make extra repayments on a fixed rate personal loan?

Generally, no. Lenders place restrictions on fixed rate personal loans because you benefit by locking in your rate. However, restrictions on repayments differ between lenders, so check reviews on finder.com.au before you apply.

Can I apply for a fixed rate personal loan?

The eligibility criteria differ between lenders. You will generally need to be over the age of 18, receiving a regular income and have good credit. Check the minimum eligibility criteria before you submit your application.

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Personal Loan Offers

Important Information*
Harmoney Unsecured Personal Loan

Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 26.95% p.a. based on your credit history.

SocietyOne Unsecured Personal Loan

Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan. Apply before 31 March 2018 to earn 2 Velocity Points for every $1 you borrow.

Pepper Money Unsecured Fixed Rate Personal Loan

Apply for up to $50,000 and receive conditional approval within minutes. Interest rates range from 9.99% p.a. to 21.49% p.a. The rate you are approved for depends on individual circumstances.

NAB Personal Loan Unsecured Fixed

An unsecured personal loan with a competitive fixed rate that you can make additional repayments to without penalty. Note: You must have held a NAB credit card or transaction account for at least 6 months before applying.

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