couple applying for a loan

Three-year fixed rate personal loans

Take your next financial step and pay it off over three years with a competitive fixed rate.

If you’re looking for a way to finance a large purchase, a holiday, or even an investment such as home renovations, consider a three-year fixed rate personal loan. These loans are suited to a wide range of needs. Find out what these loans are, how they work, how to compare them and if they are right for you.

NAB Personal Loan

NAB Personal Loan Unsecured Fixed

from

11.99 % p.a.

fixed rate

from

12.87 % p.a.

comparison rate

  • Additional repayments without penalty
  • No early exit fees
  • Borrow up to $55,000
Security Logo

100% confidential application

NAB Personal Loan

NAB offers a fixed interest rate loan. Use your loan for a holiday, home improvement, a special project or even a wedding. It’s even a smart way to take control of your credit card debt.

  • Interest rate from: 11.99% p.a.
  • Comparison rate: 12.87% p.a.
  • Interest rate type: Fixed
  • Application fee: $150
  • Minimum loan amount: $5,000
  • Maximum loan amount: $55,000
Go to site
Promoted

Personal loans you can fix for 3 years

Rates last updated February 25th, 2018
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
NAB Personal Loan Unsecured Fixed
11.99% (fixed)
12.87%
$5,000
1 to 7 years
$10
$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.
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
$0
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
$5
$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.
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$0
$500 (Upfront fee)
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.
Pepper Money Unsecured Fixed Rate Personal Loan
From 9.99% (fixed)
9.99%
$5,000
1 to 7 years
$0
$0
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.
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.42%
$4,000
1.5 to 7 years
$13
$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.
Westpac Unsecured Personal Loan
From 12.99% (fixed)
14.14%
$4,000
1 to 7 years
$12
$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
$12
$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
$10
$150
Apply for up to $50,000 to use however you choose and benefit from a competitive fixed rate.

Compare up to 4 providers

How do three-year fixed rate personal loans work?

When you apply for a fixed rate personal loan, the rate applied to your loan when you sign the contract will remain the same throughout the entire loan term. Typically, these loans have a loan term of three years, but some lenders offer a loan with a fixed rate term of three years but a total loan term of up to seven. The remainder of the term has a variable rate applied.

These loans can be secured or unsecured and fees and restrictions differ depending on the lender. However, you'll usually see both early repayment fees and fees for making additional repayments.

What types of these personal loans are available?

Three-year fixed rate loans can be used for various purposes and there are a few different types available:

  • Three-year fixed rate car loans. If you’re looking at buying a new or used car you will find various options for three-year fixed loans. As the loan is secured you will be able to lock in a competitive low rate, depending on the lender.
  • Three-year fixed rate secured loans. Even if you aren’t purchasing a vehicle you can still consider a secured personal loan. If you hold equity in your home, have money in a term deposit or own a high-value asset such as fine art or jewellery, you may be able to use it to guarantee the loan.
  • Three-year fixed rate unsecured loans. You can use funds from an unsecured loan to go on a holiday, consolidate debt, buy big-ticket items, or for any other purpose, and not risk a secured asset.

How you can compare your three-year fixed rate options

If you’re considering a three-year fixed rate loan as a financing option, it’s best to compare your options to find the right loan for you. Here are some features to look out for when comparing:

  • The interest rate. You will be locked into this rate for three years, so ensure it’s competitive. When comparing your options on finder.com.au, you can sort comparison tables like the one above by clicking on the column heading. Remember, secured loans tend to have better rates than unsecured loans.
  • The upfront and ongoing fees. Are there any application fees? Will you be charged monthly or annual fees? The comparison rate will give you an idea of the true cost of the loan, as it incorporates the rate and fees.
  • The other fees you may be charged. Fixed rate loans often attract fees for making additional repayments, accessing redraw facilities (if available) and repaying your loan ahead of time. Be sure to check these before you apply.
  • The eligibility criteria. Are you eligible for the loans you’re comparing? By clicking on the name of the loan in finder.com.au comparison tables you can see a list of the minimum eligibility criteria required to apply – this may help you narrow down your options and find loans more suited to your needs.

Weighing up the benefits of fixed rate loans

Benefits

  • You can lock in a competitive rate that stays in place for three years
  • A three-year term can help keep your repayments low, depending on how much you borrow
  • A range of lenders offer three-year fixed rate personal loans so you have many loans to compare

Drawbacks

  • If market conditions improve, you won’t benefit from lowered repayments
  • You will usually need to pay a fee to pay back your loan early or make additional repayments
  • If your situation changes and you need to switch to a loan with a longer loan term, you may need to pay a fee

Frequently asked questions

Am I eligible for a loan?

Your eligibility will depend on a variety of criteria set by each individual lender. Usually, you will need to be over the age of 18 and be an Australian citizen or permanent Australian resident, but there are loans available for temporary residents. The eligibility criteria will be listed on review pages on finder.com.au, and can also be confirmed once you click “Go to Site”.

Can I only take out a fixed rate loan for three years?

Fixed rate personal loans are available for terms of anywhere between one and seven years.

How much can I apply for?

This depends on your financial situation and the amount the lender is offering. You can find out the minimum loan amount on offer by looking at the comparison table above, and the maximum amount on offer by clicking through to the lender’s review page. However, you may not be eligible for the amount the lender is offering – work out a budget and only apply for an amount you think you will be able to afford.

Was this content helpful to you? No  Yes

Related Posts

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.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
Ask a question
Go to site