five-year-pl-250x250

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.

Harmoney Unsecured Personal Loan

Harmoney Unsecured Personal Loan

From

6.99 % p.a.

fixed rate

From

7.69 % p.a.

comparison rate

  • Borrow up to $70,000
  • 3 and 5 years terms
  • No hidden fees
Security Logo

100% confidential application

Harmoney Unsecured Personal Loan

An unsecured personal loan up to $70,000. You'll receive a tailored interest rate between 6.99% p.a. and based on your risk profile.

  • Interest rate from: 6.99% p.a.
  • Comparison rate: 7.69% p.a.
  • Interest rate type: Fixed
  • Application fee: $500 (Upfront fee)
  • Minimum loan amount: $5,000
  • Maximum loan amount: $70,000
Go to site
Promoted

Compare a range of fixed rate personal loans

Rates last updated January 23rd, 2019
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$0
$500 (Upfront fee)
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
12.45% (fixed)
13.32%
$5,000
1 to 7 years
$10
$150
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.
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
$0
3% (of loan amount)
You'll receive a fixed rate between 7.5% p.a. and 19.99% 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.
Westpac Unsecured Personal Loan
11.99% (fixed)
13.15%
$4,000
1 to 7 years
$12
$250
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
$13
$250 (Loans under $4000 - $140)
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.
ING Personal Loan
8.99% (fixed)
9.13%
$5,000
2 to 5 years
$0
$100
You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.
HSBC Personal Loan
From 8.5% (fixed)
9.06%
$5,000
1 to 5 years
$5
$150
You'll receive a fixed rate between 8.5% p.a. and 16.99% p.a. based on your risk profile
An unsecured personal loan with a tailored, fixed rate where you can make additional and early repayments without penalty.
NAB Personal Loan Unsecured Fixed
Headline rate 13.49% (fixed)
14.36%
$5,000
1 to 7 years
$10
$150
You'll receive a fixed rate between 11.49% p.a. and 18.99% 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.
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.56%
$5,000
1.5 to 7 years
$13
$495 (Based on $10,000)
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 January 2019 and receive a $200 Coles gift card.
Latitude Low Rate Personal Loan (Unsecured)
10.99% (fixed)
12.21%
$20,000
2 to 7 years
$13
$250
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.
Australian Military Bank Fixed Rate Personal Loan
From 7.93% (fixed)
8.77%
$1,000
1 to 5 years
$10
from $100 to $500
You'll receive a fixed rate between 7.93% p.a. and 18.87% p.a. based on your risk profile
An unsecured loan with a low minimum borrowing amount and flexible repayment options.
St.George Unsecured Personal Loan - Fixed Rate
From 11.99% (fixed)
13.07%
$2,000
1 to 5 years
$12
$195
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.

Compare up to 4 providers

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

Picture: Shutterstock

Was this content helpful to you? No  Yes

Related Posts

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 7.59% 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.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site