What is the best personal loan for bad credit?

"Best" is relative to the borrower's circumstances. With a bad credit personal loan, you may have to readjust what you think is best (for example, low cost). Instead, you may have to look into other factors, like which loans you're eligible to apply for. Neobanks, nonbanks and P2P lenders, for instance, may be more amenable to bad credit borrowers. Once you've picked out the loans you can apply for, you can start filtering for cost and features, and select the best from the lot.

Sarah Megginson

Money expert + media spokesperson

Sarah is the author of How to Raise Rich Kids. With over 20 years of experience in property, finance and investment journalism, she is a trusted expert whose insights regularly appear across television, radio and print media, including Sunrise, Channel 7 News, Bloomberg and Yahoo! Finance. She has previously served as managing editor for Your Investment Property and Australian Broker. Her expert advice has been shared in the media over 4,000 times. Sarah holds a Bachelor’s degree in Communications and a Tier 1 Generic Knowledge certification, which complies with ASIC standards.
If you’re interested in a media interview with Sarah, please reach out to our PR team at aupr@finder.com.

Expertise

Home loans
Personal finance
Budgeting and money-saving tips
Managing the cost of living

Experience

Author, How to Raise Rich Kids
Finalist, Women Empowering Wealth Awards 2026 - Communications Professional of the Year
Finalist, Women in Finance Awards 2025 - Thought Leader of the Year
Author, Parenting Report 2026
Author, State of Women's Wealth report 2025
Co-creator of Finder's Financial Fitness Challenge
Co-author and contributor to multiple Finder research reports
Keynote speaker on first home buyer trends for major brands
Contributor and thought-leader with London-based consumer & behavioural insights agency, Canvas8
Annual Finder Innovation Awards judge for home loans, banking and digital disruptor categories
Regular host, MC or panellist for Finder Awards, masterclasses and events
Author, The Power of Two
Editor, 30+ non-fiction books

Education

Bachelor of Arts in Communication: Journalism and Public Relations | Griffith University | 2000-2002
Tier 1 Generic Knowledge certification (RG 146), which meets ASIC's RG 146 compliance standards