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Five-year fixed rate personal loans

A locked rate for a generous term. Find out if five-year fixed rate personal loans could be right for you.

Fixed rate personal loans offer you the benefit of the same repayments no matter what happens in the market. Whether you’re looking for a secured loan to buy a car or an unsecured loan to pay for a holiday, a fixed rate loan could be one to consider. This page is a guide on fixed rate personal loans with five-year terms.

ANZ Fixed Rate Personal Loan

ANZ Fixed Rate Personal Loan

12.45 % p.a.

fixed rate

13.32 % p.a.

comparison rate

  • Low ongoing fees
  • Flexible repayment options
  • Borrow up to $50,000
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ANZ Fixed Rate Personal Loan

This competitive unsecured fixed rate personal loan from ANZ is suitable for a range of uses. Apply for up to $50,000.

  • Interest rate: 12.45% p.a.
  • Comparison rate: 13.32% p.a.
  • Interest rate type: Fixed
  • Application fee: $150
  • Minimum loan amount: $5,000
  • Maximum loan amount: $50,000
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Compare a range of fixed rate personal loans

Rates last updated March 19th, 2019
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Product Description Monthly Repayment
ANZ Fixed Rate Personal Loan
12.45% (fixed)
13.32%
$5,000
1 to 7 years
$150
$10
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.
Westpac Unsecured Personal Loan
11.99% (fixed)
13.15%
$4,000
1 to 7 years
$250
$12
You'll receive a fixed rate of 11.99% p.a.
Benefit from the security of a fixed rate with the flexibility of additional repayments. Existing Westpac customers may qualify for discounts. Note: Listed rate of 11.99% p.a. includes a 1% discount available if you apply and are approved before 21st March, 2019.
Latitude Personal Loan (Unsecured)
From 13.99% (fixed)
15.19%
$3,000
2 to 7 years
$250 (Loans under $4000 - $140)
$13
You'll receive a fixed rate between 13.99% p.a. and 29.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Flexible repayments options.
Latitude Low Rate Personal Loan (Unsecured)
10.99% (fixed)
12.21%
$20,000
2 to 7 years
$250
$13
You'll receive a fixed rate of 10.99% p.a.
A secured or unsecured loan available to homeowners with a large minimum borrowing amount of $20,000. Benefit from flexible repayments and fast approval.
Pepper Money Unsecured Fixed Rate Personal Loan
From 9.99% (fixed)
9.99%
$5,000
1 to 7 years
$0
$0
You'll receive a fixed rate between 9.99% p.a. and 27.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no monthly or application fees.
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.56%
$5,000
1.5 to 7 years
$495 (Based on $10,000)
$13
You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
Apply for loans from $5,000 and get a dedicated loan manager. No security required. Note: Get your loan approved and settled before 31 Mar 2019 and receive a $100 gift card.
St.George Unsecured Personal Loan - Fixed Rate
From 11.99% (fixed)
13.07%
$2,000
1 to 5 years
$195
$12
You'll receive a fixed rate between 11.99% p.a. and 18.99% p.a. based on your risk profile
A low minimum borrowing amount of $2,000 to fund a range of purposes. Note: Listed rate of 11.99% p.a. includes a 1% discount available if you apply and are approved before 31st March, 2019.
NAB Personal Loan Unsecured Fixed
Headline rate 12.69% (fixed)
13.56%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 10.69% p.a. and 18.69% p.a. 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.

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How does a five-year fixed rate personal loan work?

When you apply for a fixed rate personal loan, the rate that is stated in your loan contract will be locked in place for the duration of your five-year term. Taking into account any other ongoing fees, this rate will be used to calculate your repayments. Your weekly, fortnightly or monthly repayment will stay the same for the entire five-year term. At the end of the term, your debt will be repaid.

What are the types of fixed rate personal loans?

A few different types of fixed rate personal loans exist, each suited to different loan purposes and for borrowers in varying situations. Depending on what you need, either of the following might be suitable:

Secured fixed rate personal loanUnsecured fixed rate personal loan
If you’re looking to purchase a car, draw on your home equity or even use a high-priced asset as a guarantee, you could consider a secured fixed rate loan.Unsecured personal loans may be more suited to you if you aren’t looking to buy a vehicle, your vehicle isn’t eligible to be used as a guarantee or you‘re looking to pay for a holiday or consolidate debt.

How you can compare your fixed rate personal loan options

If you’re wondering which fixed rate loan is right for you, compare your options to find the best fit. Keep the following features in mind:

  • Interest rates. These loans all come with fixed interest rates, but compare them with loans with loans that have similar features to see how competitive the rate is.
  • Upfront and ongoing fees. Will you be charged an establishment fee? Are there any monthly or annual fees? These can add up over a period of five years, so check before you apply.
  • Loan suitability. This is mainly true for secured personal loans, but check you will be able to finance what you need to with the loan. Ensure the loan amount is sufficient and you will receive the loan when you need it.
  • Eligibility. Lenders set the minimum age, income, employment, credit and financial criteria that must be met in order for you to be eligible for the loan. Ensure you meet these before you submit your application.

Benefits and drawbacks of five-year fixed rate personal loans

Pros

  • You’ll have a generous repayment term to repay your loan, making the loan suitable for higher amounts
  • Your repayments will remain the same during the loan term
  • Secured personal loan options are available, so you have the option of locking in a low rate for this period

Cons

  • Longer repayment terms, while keeping your repayments lower, see you paying more interest in total
  • Your circumstances may change during the five years, which could make it difficult to meet your repayments

Check out other fixed rate personal loans

Frequently asked questions

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Personal Loan Offers

Important Information*
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.

Westpac Unsecured Personal Loan

You'll receive a fixed rate of 11.99% p.a.
Benefit from the security of a fixed rate with the flexibility of additional repayments. Existing Westpac customers may qualify for discounts. Note: Listed rate of 11.99% p.a. includes a 1% discount available if you apply and are approved before 21st March, 2019.

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.

Latitude Personal Loan (Unsecured)

You'll receive a fixed rate between 13.99% p.a. and 29.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Flexible repayments options.

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