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Three-year fixed rate personal loans

Rates and Fees verified correct on December 5th, 2016

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.

HSBC Personal Loan

HSBC Personal Loan Offer

Apply for a HSBC Personal Loan and get competitive interest rate offer with a flexible range of repayment options.

  • Interest Rate From: 11.99% p.a.
  • Comparison Rate: 12.54% p.a.
  • Interest Rate Type: Fixed
  • Application Fee: $150
  • Minimum Loan Term: 1 year
  • Maximum Loan Term: 5 year
  • Minimum Loan Amount: $5,000
  • Maximum Loan Amount: $50,000

Personal loans you can fix for 3 years

Rates last updated December 5th, 2016
$
Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment
HSBC Personal Loan
A competitive fixed interest rate loan with the option to make extra repayments. Min. income $30,000
From 11.99% (fixed) 12.54% $5,000 1 to 5 years $150 Go to site More
CUA Fixed Rate Personal Loan
A competitive fixed-rate loan with flexible repayments that can help you consolidate debt or make a large purchase.
From 11.99% (fixed) 11.99% $1,000 1 to 7 years $0 Go to site More
Latitude Personal Loan (Secured)
Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your account in as little as 24 hours.
From 12.99% (fixed) 14.2% $3,000 2 to 7 years $250 (Loans under $4000 - $140) Go to site More
ANZ Fixed Rate Personal Loan
A flexible loan option that lets you pay off your debt, buy a car, fix up your house or cover travel costs.
From 13.95% (fixed) 14.81% $5,000 1 to 7 years $150 Go to site More
SocietyOne Unsecured Personal Loan
Interest rates for a 3 year loan range from 7.88% p.a. to 25.49% p.a. Comparison rate from 9.9% p.a. to 26.74% p.a. depending on your credit score
From 7.88% (fixed) 9.9% $5,000 2 to 5 years 3% (of loan amount) Go to site More
RACQ Unsecured Loan
An unsecured personal loan that lets you borrow funds for what you need. Repay the loan on terms up to seven years.
From 13.95% (fixed) 14.52% $5,000 1 to 7 years $378 Go to site More
RateSetter Personal Loan
Ratesetter allow you to get a personalised rate based on your credit score.
From 9.42% (fixed) 9.42% $2,001 0.5 to 5 years $0 (fees may be charged) Go to site More
RACV Personal Loan
You could use this personal loan offer from RACV to help finance a renovation, holiday or project.
From 9.15% (fixed) 9.69% $5,000 1 to 7 years $370 Go to site More
Westpac Unsecured Personal Loan
Borrow up to $50,000 for a term of up to 7 years with the unsecured Loan from Westpac
From 12.99% (fixed) 14.01% $4,000 1 to 7 years $250 Go to site More
St.George Unsecured Personal Loan - Fixed Rate
Convenient redraw facility, flexible personal loan repayment options with competitive interest rate.
From 12.99% (fixed) 13.87% $3,000 1 to 5 years $195 ($0 for existing customers) Go to site More
St.George Secured Personal Loan - Fixed Rate
Get behind the wheel of your perfect car with a competitive interest rate from St.George. Get an application response within 60 seconds.
From 8.49% (fixed) 9.39% $3,000 1 to 5 years $195 Go to site More

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, however 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.

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Related Posts

HSBC Personal Loan

A competitive fixed interest rate loan with the option to make extra repayments. Min. income $30,000

Latitude Personal Loan (Secured)

Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your account in as little as 24 hours.

CUA Variable Rate Personal Loan

Enjoy a competitive interest rate, flexible repayment options and no monthly fees.

SocietyOne Unsecured Personal Loan

Interest rates for a 3 year loan range from 7.88% p.a. to 25.49% p.a. Comparison rate from 9.9% p.a. to 26.74% p.a. depending on your credit score

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