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Seven-year fixed rate personal loans

Borrow as much as you need with seven years to repay, and have your repayments stay the same throughout your entire loan term.

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Are you looking to apply for a large loan or just want lengthy terms to keep your repayments low? Consider applying for a personal loan with seven-year terms. You can keep your repayment amounts the same by opting for a fixed interest rate and there are various loan types available. Find out more about seven-year fixed loans in the guide below.

NAB Personal Loan Unsecured Fixed

NAB Personal Loan Unsecured Fixed

From

9.99 % p.a.

fixed rate

From

10.88 % p.a.

comparison rate

  • Additional repayments without penalty
  • No early exit fees
  • Borrow up to $55,000
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NAB Personal Loan Unsecured Fixed

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: 9.99% p.a.
  • Comparison rate: 10.88% p.a.
  • Interest rate type: Fixed
  • Application fee: $150
  • Minimum loan amount: $5,000
  • Maximum loan amount: $55,000
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Personal loans you can fix for 7 years

Data indicated here is updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
NAB Personal Loan Unsecured Fixed

From 9.99% (fixed)
10.88%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
OurMoneyMarket Personal Loan

From 6.75% (fixed)
6.96%
$2,001
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 6.75% p.a. to 20.99% p.a. based on your risk profile
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.
CUA Unsecured Fixed Rate Personal Loan
9.89% (fixed)
10.14%
$5,000
1 to 7 years
$175
$0
You'll receive a fixed rate of 9.89% p.a.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
MoneyMe Personal Loans

From 8.99% (fixed)
10.68%
$3,001
2 to 5 years
5 - 8% of the principal borrowed, capped at $1,200
$0
You'll receive an interest rate between 8.99% p.a. and 29.99% p.a. based on your risk profile
A flexible personal loan from MoneyMe with access to cash when you need it.
Latitude Personal Loan (Unsecured)

From 7.99% (fixed)
9.24%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 7.99% p.a. and 19.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly.
Pepper Money No Fee Personal Loan

From 6.95% (fixed)
6.95%
$5,000
18 months to 7 years
$0
$0
You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $15,000 and use for a range of purposes. Pay no upfront, early repayment or ongoing fees.
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How do seven-year fixed rate personal loans work?

These loans can be used to finance any personal purchase (the loan types are broken down into more detail below). When you apply for the loan, you need to agree to the interest rate stated in your loan contract. This rate will apply for the entire seven-year term.

Any loan establishment fees or monthly fees will be added onto your repayments. At the end of the seven years, your debt will be repaid.

What you can finance with a fixed rate personal loan

Fixed rate loans are suitable for a range of purposes:

  • New or used vehicles.
    This not only includes cars but also motorbikes, boats and even jet skis and caravans.
  • Debt consolidation.
    If you have outstanding debts on a credit card or personal loan, you can consolidate and repay it over a longer term with a fixed rate.
  • Home improvements.
    Add value to your home and have up to seven years to repay what you borrow.
  • Holidays.
    If you’re planning on taking a trip you can take out an unsecured loan to pay for your flights, hotel rooms or anything else you need.

Fixed rate loans for holiday

How you can compare fixed rate loans with seven-year terms

As this loan will be with you for seven years, it’s important to compare your options and find the right one. Here are some points to keep in mind:

  • What interest rate applies? Compare similar loans to see how competitive the interest rate is.
  • How much will you be charged in fees? Check for establishment fees, monthly fees, annual fees and any other fees you may be charged. If you want the option of paying back your loan early, check to see if this is an option and how much it will cost.
  • Is the loan suitable for your purpose? If you want to buy a car, is the vehicle eligible? If you want to consolidate debt, can you bring all of your credit accounts over? Check all aspects of the loan before applying.
  • How can you access and manage your account? The loan will be with you for seven years, so you want to ensure you can manage your account effectively. Check if there is a mobile app or online account tools.

Weigh up the benefits and drawbacks before applying

  • Your repayments will be low because the loan term is long
  • You can easily budget because your repayments will remain the same throughout the seven years
  • A range of different financing options are available
  • As the loan term is longer, you end up paying more in interest
  • You will probably be charged a fee for early or additional repayments

Questions you might still have

Are there shorter fixed rate terms?

Yes, you can consider applying for a fixed rate personal loan in any one-year increment between one and seven years.

Am I eligible for a fixed rate personal loan?

Eligibility criteria depend on the lender you are looking to apply with and should be confirmed before submitting your application. However, you will generally need to be over the age of 18 and a permanent Australian resident or Australian citizen.

How do I apply?

If you’ve found a loan you want to apply for and you meet the eligibility requirements, you can click “Go to Site” to submit your application directly with the lender.

More guides on Finder

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

Logo for Pepper Money Unsecured Fixed Rate Personal Loan
Pepper Money Unsecured Fixed Rate Personal Loan

You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.

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2 Responses

  1. Default Gravatar
    AdamNovember 28, 2017

    I want to consolidate a personal loan of 21k, and take out another 4 so 25k loan total. I currently pay $480 per month on this amount over 7 years. I want my new rate to be much lower, reducing my monthly repayment amounts.

    • Default Gravatar
      MariaNovember 30, 2017

      Hi Adam,

      Thank you for your inquiry.

      While it’s possible to consolidate your loan through the different lenders featured on this page, you’d need to review the rates that they offer to see if you’d be able to able reduce your monthly repayment amounts.
      This page on Personal Loan Calculators would help you compare the features of each loan.

      Also, this page on Personal Loans for Debt Consolidation has tips and answers to common questions that you may find helpful in your decision.
      Please note that finder is not a product issuer. The approval of your application would depend on the lender’s assessment of your financial situation and ability to make loan repayments.

      I hope this helps.

      Best,
      Maria

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