medium sized loan

Medium-sized personal loans

Rates and Fees verified correct on April 25th, 2017

Find out a smart way to fund your new car, house renovation or holiday escapade with a medium personal loan.

Medium-sized personal loans range from $10,000 to $20,000 and are available from a range of lenders. If you’re thinking about buying a new car, renovating your house, starting a business, combining your debts together or even travelling, you can use these loans. Loans can be secured or unsecured and you can compare loans below so you get the most competitive interest rates.

NAB Variable Rate Personal Loan

NAB Personal Loan Unsecured Variable Rate

from

14.69 % p.a.

variable rate

from

15.55 % p.a.

comparison rate

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NAB Variable Rate Personal Loan

Apply for a NAB variable rate personal loan and access a low interest rate offer.

  • Interest rate from: 14.69% p.a.
  • Comparison rate: 15.55% p.a.
  • Interest rate type: Variable
  • Application fee: $150
  • Minimum loan amount: $5,000
  • Maximum loan amount: $55,000
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Compare a range of medium-sized personal loans

$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment Product Description
NAB Personal Loan Unsecured Variable Rate
From 14.69% (variable)
15.55%
$5,000
1 to 7 years
$150
An unsecured loan with a redraw facility that allows you to access money you've paid in advance. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.
Latitude Personal Loans (Unsecured)
From 13.99% (fixed)
15.2%
$3,000
2 to 7 years
$250 (Loans under $4000 - $140)
An unsecured loan designed for multiple purposes – renovating, buying a car or travelling. Funds can be in your count in as little as 24 hours.
CUA Discount Fixed Personal Loan (Loans over $30,000)
From 10.99% (fixed)
10.99%
$30,000
1 to 7 years
$0
Take advantage of a competitive fixed rate and no monthly fees when you borrow over $30,000
NAB Personal Loan Unsecured Fixed
From 14.99% (fixed)
15.85%
$5,000
1 to 7 years
$150
An unsecured loan available for a wide range of purposes for a long period of time up to 7 years. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.
St.George Get Set Loan Personal Loan
From 17% (variable)
$5,000
$150
A revolving line of credit that lets you access your funds as and when you need to.
ANZ Fixed Rate Personal Loan
From 13.95% (fixed)
14.81%
$5,000
1 to 7 years
$150
A flexible loan option that lets you pay off your debt, buy a car, fix up your house or cover travel costs.
ANZ Variable Rate Personal Loan
From 14.69% (variable)
15.55%
$5,000
1 to 7 years
$150
A variable rate loan that lets you make and redraw additional repayments.
Bank of Melbourne Unsecured Personal Loan
From 12.99% (variable)
13.87%
$3,000
1 to 7 years
$195
An unsecured personal loan that gives you a choice between a fixed or variable rate.
BankSA Unsecured Personal Loan
From 12.99% (variable)
13.87%
$3,000
1 to 7 years
$195
BankSA allows you to borrow up to $40,000 with your choice of a fixed or variable rate.

Compare up to 4 providers

How do these loans work?

Medium loans are essentially the same as standard personal loans, but the loan amounts are between $10,000 to $20,000. Lenders off loans to borrowers who want to use these loans for any purpose, even without collateral. You can go directly to the lender and fill out the loan application form or you could apply online through finder.com.au.

What are some benefits of medium personal loans?

  • Lower repayments. Borrowing a lower amount means lower repayments.
  • Long loan terms available. Despite these loans being for lower amounts you can still opt for longer loan terms up to seven years.
  • Secured or unsecured. You can have your choice of a secured or unsecured loan depending on what you need the loan for and if you have an asset to offer as security.

What are the types of medium personal loans?

Lots of banks are offering wide range of medium personal loans. You should know your present financial condition so that you’ll get the right kind of loan which will suit to you. The types of loans are as follows.

  • Unsecured medium personal loan.
    This is the most accepted type of medium personal loan and is widely accessible from banks. On top of it all this loan is called unsecured because it isn’t covered with any collateral.
  • Secured medium personal loan.
    This type of loan is usually secured with a specific property, and the bank can get hold of the property in case of payment default.
  • Line of credit.
    This type of loan varies from a standard medium personal loan as it doesn’t have a particular timeframe for loan repayment. You’ll find out that this type of loan is similar to a credit card for you can keep on drawing money out of the loan.

Things to avoid about medium personal loans

Elaborate or any pitfalls of traps that you could get into with this particular product type. In getting for a medium personal loan you should avoid some of the few pitfalls of traps as follows.

  • Hurrying in applying without looking at the product and doing research.
  • Agreeing on precise term with the loan agent which isn’t attainable.
  • On top of it all you shouldn’t over-extend yourself in getting more loans.

Frequently asked questions

Who can apply for a medium personal loans?

You can apply if you’re at least 18 years old and an Australian resident.

What is the difference between variable and fixed rate loan?

A variable rate loan gives you payment flexibility while fixed rate loan gives you protection against interest rate increases.

How fast is the application process?

You’ll finish the application process in less than 30 minutes on your online application. The lender will then contact you to discuss your options.

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Citi Personal Loan Plus

Borrow up to $75,000 with this personal loan offer from Citi.

ANZ Variable Rate Personal Loan

A variable rate loan that lets you make and redraw additional repayments.

NAB Personal Loan Unsecured Variable Rate

An unsecured loan with a redraw facility that allows you to access money you've paid in advance. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.

Latitude Personal Loan (Secured)

Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your account in as little as 24 hours.

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2 Responses to Medium-sized personal loans

  1. Default Gravatar
    Lori | February 16, 2017

    Hi, am a single mother on centre link and am looking for car finance around 10.000 to pay back over a 5-7 year period. Have a few old defaults on my credit history. Would I be considered by any lenders without the highest interest fees. Thank you

    • Staff
      Anndy | February 17, 2017

      Hi Lori,

      Thanks for your question.

      You may want to refer to the following pages to check and compare your loan options:

      - Centrelink Loans
      - Emergency Loans For Single Mothers

      Please note that the loan terms may be shorter than 5 years. Also, please take time to read the eligibility criteria of the loan product you are interested before clicking the ‘go to site’ button to submit an application.

      Cheers,
      Anndy

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