medium-personal-loans

Medium-sized personal loans

Rates and fees last updated on

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

  • Redraw facility enabled
  • No early exit fees
  • Borrow up to $55,000
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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

Rates last updated September 20th, 2017
$
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.
Citi Personal Loan Plus
From 11.99% (variable)
12.48%
$5,000
3 to 5 years
$0 ($199 fee waived)
Borrow up to $75,000 to use for a range of purposes. Competitive rate of 11.99% p.a. available to all approved applicants.
RateSetter Personal Loan
From 8.66% (fixed)
9.17%
$2,001
0.5 to 5 years
$0 (Upfront fee $250 for loan terms of 2 years and above)
RateSetter offers personalised interest rates ranging from 3.7% p.a. to 9.6%.p.a. determined by your risk profile.
IMB Unsecured Personal Loan
From 11.69% (fixed)
13.46%
$2,000
1 to 5 years
$250
Enjoy no monthly fees and the option to make additional repayments. 11.69% p.a. rate available to all approved applicants.
Latitude Personal Loans (Unsecured)
From 13.99% (fixed)
15.19%
$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.
SocietyOne Unsecured Personal Loan
From 7.75% (fixed)
9.77%
$5,000
2 to 5 years
3% (of loan amount)
Based on your risk profile, you will receive a tailored rate between 7.75% and 20.14% with a SocietyOne personal loan.
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.

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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.

Don't have stellar credit? Compare a range of payday loan options

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NOW FINANCE Personal Loans

Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 16.95% p.a. depending on your credit score.

RateSetter Personal Loan

RateSetter offers personalised interest rates ranging from 3.7% p.a. to 9.6%.p.a. determined by your risk profile.

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.

Citi Personal Loan Plus

Borrow up to $75,000 to use for a range of purposes. Competitive rate of 11.99% p.a. available to all approved applicants.

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2 Responses

  1. Default Gravatar
    LoriFebruary 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
      AnndyFebruary 17, 2017Staff

      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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