Best personal loans Australia

• Best unsecured loan: NOW Finance No Fee Unsecured Personal Loan
• Best secured loan: NOW Finance Secured Personal Loan
• Best fixed loan: OurMoneyMarket Unsecured Low-Rate Personal Loan ($5,000-$100,000)
• Best variable loan: Dnister Ukrainian Credit Co-operative Premier Personal Loan
• Best green loan: Gateway Bank Eco Personal Loan
• Best bank loan: Greater Bank Secured Personal Loan

How we calculate Personal Loans Finder Scores

Read full methodology

What different scores mean

9+

Excellent

The crème de la crème of personal loans. These products offer the lowest cost loans accompanied by the best features.

7+

Great

Slightly higher in cost and fewer features, but these products are still competitive.

5+

Standard

Typically offering above average rates and possibly lacking in the features department.

0+

Basic

The least competitive in terms of both cost and features.

Finder Score	Interest rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee
Best unsecured loan
Finder score 9.2 Excellent NOW Finance No Fee Unsecured Personal Loan Finder AwardFixed18 Months - 7 Years $5,000 - $50,000	Finder score 9.2 Excellent	Interest Rate (p.a.) 5.95% to 26.95%	Comp. Rate (p.a.) 5.95% to 26.95%	Application Fee $0	Monthly Fee $0	Go to siteView details Compare product selection Compare	loading	Why we like it This personal loan doesn't have any upfront or ongoing fees, meaning the comparison rates are the same as the interest rates. This means your money is actually going towards paying down the loan, rather than towards frustrating fees and charges. As an unsecured personal loan, you're borrowing money without risking an asset as security. Although this can often mean rates are higher, these rates are on par with its secured product: there's just a lower borrowing limit. This loan also comes with the option to make repayments weekly, fortnightly or monthly, matching up to whatever timeline suits your lifestyle. And if you're able to repay the loan before the loan term is up, you can do that without penalty. Pros & cons Pros There's no application fee for this product There are no ongoing fees to worry about Have a dedicated loan advisor for the duration of your loan Cons The worse your credit score, the higher your interest rate will be The maximum interest rate you might be expected to pay is very high You can only borrow up to $50,000, so if you have larger expenses this loan won't work for you
Best secured loan
Finder score 9.9 Excellent NOW Finance Secured Personal Loan Finder AwardFixed18 Months - 7 Years $15,000 - $100,000	Finder score 9.9 Excellent	Interest Rate (p.a.) 5.95% to 21.65%	Comp. Rate (p.a.) 5.95% to 21.65%	Application Fee $0	Monthly Fee $0	View details Compare product selection Compare	loading	Why we like it Now Finance's competitive rates and no fees makes this product great offering for customers. There's also a fast application process and access to your own personal advisor to talk you through your loan. Pros & cons Pros Obtain a personalised rate Get a personal loan advisor Quick application process Cons Needs an asset security as collateral Low credit scores might attract higher interest rates
Best fixed loan
Finder score 9.5 Excellent OurMoneyMarket Unsecured Low-Rate Personal Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Finder score 9.5 Excellent	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Go to siteView details Compare product selection Compare	loading	Why we like it This personal loan has a very high Finder score and that's because it offers a mix of competitive rates, no ongoing fees and no costs or penalties for additional repayments. Pros & cons Pros Competitive interest rates No ongoing fees No penalties for additional payments Cons Late payment fee of $35 Direct debit dishonour fee of $25
Best variable loan
Finder score 9.2 Excellent Dnister Ukrainian Credit Co-operative Premier Personal Loan VariableUP TO 10 Years $5,000 - $50,000	Finder score 9.2 Excellent	Interest Rate (p.a.) 7.52%	Comp. Rate (p.a.) 8.20%	Application Fee $100	Monthly Fee $0	View details Compare product selection Compare	loading	Why we like it With another strong Finder Score, this loan is the most cost effective variable rate personal loan on the market. It offers a loan term of up to 10 years, as well as flexible repayments and access to a redraw facility. Pros & cons Pros There are no monthly or annual fees included with this loan You can make extra repayments and pay off the loan early The maximum loan term is 10 years Cons Variable rate loans can make it more difficult to budget There's an application fee of $100 There's a charge to access the redraw
Best green loan
Finder score 9.4 Excellent Gateway Bank Eco Personal Loan Variable1 - 5 Years $3,000 - $30,000	Finder score 9.4 Excellent	Interest Rate (p.a.) 6.44%	Comp. Rate (p.a.) 7.45%	Application Fee $149	Monthly Fee $0	View details Compare product selection Compare	loading	Why we like it Proving that it continues to offer a top product all year round, this loan was highly commended in Finder's 2025 product awards. Other reasons we like this loan are because there are no ongoing fees, you can make extra repayments without penalty and you can manage your loan via a simple app. Pros & cons Pros There are no ongoing fees to worry about You can make extra repayments without fee and repay early You can access those extra repayments if you need them via a redraw facility Cons There's a maximum loan limit of $30,000 which may not cover everyone's eco needs Minimum redraw value is $250 There's a $149 establishment fee
Best bank loan
Finder score 9.7 Excellent Greater Bank Secured Personal Loan Fixed1 - 7 Years $5,000 - $100,000	Finder score 9.7 Excellent	Interest Rate (p.a.) 6.78%	Comp. Rate (p.a.) 7.17%	Application Fee $275	Monthly Fee $0	View details Compare product selection Compare	loading	Why we like it The Greater Bank Secured Personal Loan comes with no ongoing fees and the ability to repay the loan early without penalty. Greater Bank also offers fast turnarounds of 24 hours. Pros & cons Pros As long as you have all the necessary information to hand, you could be approved within 24 hours. You can make extra repayments and pay off the loan early with no penalty. There are no ongoing fees with this loan. Cons This loan comes with an establishment fee of $275. There's a $200 fee for every guarantee that you provide.

loading

Methodology: How we chose our Top Picks

We analysed our database of over 200 loans, and filtered out loans that were members-only or secured in niche ways (such as by term deposits). This left us with a pool of accessible loans, which we further filtered based on interest rates, fees, and availability through Finder. In the case of a tie or a close call, we factored in features such as redraw facilities.

While we are confident that our top picks are competitive personal loans, keep in mind that there is no one-size-fits-all loan or lender. Your personal situation and preferences will determine what the best personal loan for you will be.

How do I find the best personal loan for me?

There’s no one size fits all best personal loan. Your interest rate will be personalised to you based on your credit score.

That doesn't mean you should give up and pick a loan at random. There'll still be personal loans which are better suited to you.

Here's what you should look for when comparing personal loans:

Interest and comparison rate

Lenders advertise a minimum interest rate and a maximum interest rate. They’ll decide your rate based on your financial situation and while this depends on a couple of things, you can check your credit score to give yourself a rough idea of where you'll sit in their interest rate range.

You should also look at the comparison rate to see how the rate changes when you incorporate fees. However it is usually based on a $30,000 loan over 5 years. If your plans are different, use a personal loan calculator to get a sense of how much a loan will cost you.

Secured or unsecured

Securing your loan could get you a lower rate or increase the odds that you'll be approved for a personal loan. However, you will need to put up an asset (like your vehicle) as collateral, so ensure you can comfortably repay the loan to avoid the risk of repossession.

Borrowing amounts

Quite simply, can you borrow the amount you need? In general, higher borrowing amounts have stricter eligibility criteria.

Early repayment options

Not a must, but repaying your personal loan early means you pay less in interest. So, that’s pretty nice. Some loans that allow early repayment have fees attached, so make sure you're saving more than you're spending or opt for a loan with free early/extra repayments.

Special deals

Personal loans can offer special deals which range from waived fees to a discounted interest rate or cashback. These could save you hundreds if not thousands of dollars depending on the loan.

Our expert says

"Finding a loan that's even 1% cheaper can save you hundreds of dollars. You can save even more if you can afford some extra repayments early on, just watch out for any early repayment fees."

Graham Cooke

Head of Consumer Research

Comparing interest rates to find the best personal loan

To see how the interest rate can affect your repayments, we looked at 2 loans with the same loan amount and loan term.

Loan amount: $30,000

Loan term: 5 years

By paying 1% more on this loan, you’d pay $868 more in interest.

section style="margin-bottom: 20px;">

Best personal loans for customer satisfaction in 2025

We asked hundreds of Australians to rate their personal loan lenders on factors like customer service, features and benefits, ease of application, fees and interest rate, and trustworthiness. Here are the results.

Bank	Overall satisfaction	Recommended
	★★★★★ 4.4/5	99%
	★★★★★ 4.2/5	88%
	★★★★★ 4.1/5	85%
	★★★★★ 4.1/5	81%
	★★★★★ 4.1/5	88%

FAQs

• Which is best: A bank or a non-bank personal loan?

  Banks and non-banks are quite similiar when it comes to personal loans, and so it's generally best to compare products from both when choosing a personal loan. They both need to abide by the same Australian Government regulations, so you will be safe borrowing money from either one.

  The main differences are that non-banks tend to have lower overhead and more relaxed rules, so you might find lower rates and wider eligibility criteria with them. Banks will have a wider variety of financial products, and may have deals if you use them for multiple things (such as your personal loan, savings account or credit card).

• Which is best: Fixed or variable interest rates?

  Your own preferences will determine whether a fixed or a variable interest rate is best for you. In general, variable rates tend to be lower - though you risk the interest rate rising as market conditions change. Fixed interest rates give you more certainty and are easier to budget for.

  There are good deals for both types of interest rates. So, unless you strongly prefer one over the other, it may be worth looking at both when choosing your personal loan.

• What is the best personal loan for bad credit?

  "Best" is relative to your situation and credit score. 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 things like which loans have wider eligibility criteria. Once you've picked out the loans you are eligible for, you can filter them based on cost and features.

• What is the average personal loan interest rate in Australia?

  In November 2025, the average unsecured personal loan is 10.54%. The average secured personal loan is 9.67%. But remember that these are the advertised rates. Real rates will vary depending on the interest rate offered to you based on your credit score and financial situation.

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten as part of our fact-checking process.

Written by

Rebecca Pike

Editor, Money

Rebecca Pike is Finder’s money editor, with over 7 years of experience in mortgages and personal finance. A frequent TV and radio commentator, she frequently appears on Sunrise and 7News, Today and 9News, as well as Sky News, Channel 10 and across radio and print. Rebecca previously served as Editor of Mortgage Professional Australia. She has a Master’s degree in Journalism as well as ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, which comply with ASIC guidelines. See full bio

Rebecca's expertise

Rebecca has written 272 Finder guides across topics including:

• Home loans
• Personal Loans
• Car Loans
• Cost of living
• Budgeting