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6 Month Personal Loans

Do you need a quick cash flow boost for your finances? Here’s how a six-month personal loan can help you out.

If you’re looking for a fast and easy way to access finances for an emergency or to finance a certain project, you can get the money you need with a six-month personal loan. Such a loan can come in handy when you need to access some quick cash.

Banks and other lending institutions have long approval periods and strict documentation requirements which could make it harder to access finances, especially during an emergency. With this in mind, it can sometimes help to seek alternative financing from a creditor who offers payday loans.

Comparisons of 6 months variable rate personal loans

You can check the personal loans and short term loans that allows you 6 months loan term.

Rates last updated January 21st, 2019
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Product Description
Credit24 Medium Term Loan (Good Credit)
From 48% (variable)
1 to 2 years
A small loan with long terms: Apply for up to $5,000 and have up to 2 years to repay.

Compare up to 4 providers

Borrow up to $1,900

Ferratum Cash Loans

  • No credit checks
  • Borrow up to $1,900
  • Bad credit borrowers OK
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100% confidential application

Borrow up to $1,900

Ferratum offer offer no credit check payday loans with a fast and easy online application. Apply today to get approved.

  • Loan amount: $1,900
  • Loan term: up to 6 months
  • Turnaround time: Same day - conditions apply
  • Fees: 20% of borrowed amount + 4% of borrowed amount each month
  • Must be 18+
  • Must not be receiving benefits
  • Confidential and secure!
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Rates last updated January 21st, 2019
Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Fortnightly Repayment $1,500 Product Description
Ferratum Cash Loans
up to 6 months
Same day - conditions apply
20% of borrowed amount + 4% of borrowed amount each month
Borrow what you need with loans starting from $500 and approval in minutes.
Nimble Medium Loan
Up to 2 years
1 hour - conditions apply*
Application fee of $400 + 47.62% p.a.
Apply for up to $5,000 and have up to 2 years to repay.
Nimble Short Term Loan
62 days to 1 year
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
A loan up to $2,000 with terms up to 62 days to 1 year. Centrelink cannot be your primary source of income.
Credit24 Short Term Loan
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.

Compare up to 4 providers

How does a six-month personal loan work?

Six-month personal loans are designed to help you with your finances when you need some quick cash. Unexpected costs can pop up and leave you stranded, but borrowing from banks and other lenders sometimes simply takes too long. This is why payday loans can be so convenient, especially because in most cases you are approved and can get the cash you need in a couple of days. You can usually apply for your payday loan online in a simple process and have the cash you need deposited quickly. A six-month personal loan gives you access to up to $5,000, with the option to pay it back conveniently within a period of three to six months.

What do you need to look for when comparing 6 month loans?

  • Fees and rates.
    When looking for a six-month personal loan, be sure to go for a low-rate loan without inflated fees and hidden costs. Shopping around is the best way to ensure you end up with a loan with competitive rates.
  • Repayment terms.
    Another thing you should consider when applying for a six-month personal loan is whether it offers a payment plan that suits you. The repayments should suit your income and offer you a longer repayment period so you don’t strain your finances.
  • Approval period.
    Six-month personal loans are supposed to offer you instant cash, so the faster the approval process the better it will be. Unlike bank loan applications that are in-depth and often time consuming, a payday loan should give you access to cash in a hurry, so approval should be instant and the cash transferred to your account within a couple of days.
  • Repayment penalties.
    Some payday loans carry hefty penalties for missed repayments, which could end up straining your finances more and raising the cost of borrowing.

Pros and cons


  • Instant approval.
    Lenders offering payday loans know that you need cash in a hurry, which is why they make the application and approval process much quicker than banks do. You can apply for a six-month personal loan online and get approved in a day or two, allowing you to access the cash you need instantly.
  • Flexible loan amount.
    A six-month personal loan gives you access to the amount you need. Different lenders offer different loan amounts, but you can generally borrow anywhere from $300 to $5,000. Regardless of whether you need a large sum for a holiday or you just need a small boost in your finances, a six-month personal loan could work for you.
  • Flexible loan term.
    Most six-month personal loans offer you a flexible repayment period and repayment options that suit your finances. You usually have the option to make weekly, fortnightly or monthly repayments to suit your budget.


  • Higher fees and rates.
    Payday loans are usually meant for short-term financing, which makes them more expensive than standard loans. If you opt for a variable rate loan, and pay out early you may be charged an early payout fee.

Thing to be cautious of

  • Overspending.
    The temptation to borrow more than you need is always there with payday loans because you get the cash fast without having to satisfy strict lending criteria. You should always remember that you will have to pay interest and other additional costs on your loan, so you should only borrow the amount you need and have a clear purpose for what you want to spend it on.
  • Missing repayments.
    Make sure that you can comfortably make your monthly repayments before you apply for a loan, as there are usually penalties for late payments.

How to apply

A six-month personal loan can make life a lot easier when you find yourself in a tight financial spot. If you are looking for a short-term loan, use our payday loan comparison table and get a product that suits you today. Please note that you will have to meet the following requirements:

  • You have to be at least 18 years old
  • You must be an Australian citizen or permanently reside in Australia
  • You must prove that you have lived at your current home address for three months
  • You must provide proof of income

Remember, it's always important to compare your options when it comes to loans for six months. Use the tables above to help with your comparisons/

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Personal Loan Offers

Important Information*
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 12.45% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

RateSetter Unsecured Personal Loan - 3yr Fixed

You'll receive a fixed rate from 8.63% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.

Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.96% p.a. to 18.91% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years.

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2 Responses

  1. Default Gravatar
    August 29, 2017

    where do I find a private lender for a 6 months loan. I have a good income but a low credit score

    • Default Gravatar
      JoelAugust 29, 2017

      Hi Ross,
      Thanks for contacting finder. Please check out this awesome link on how you can apply for a loan even with bad credit score. You may also want to check your credit score via this link because different companies have different definition of “bad credit score”. Hope this help. :)

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