Get the Finder app 🥳

Track your credit score

Free

One-year fixed rate personal loans

Have your loan repaid within the shortest term by settling into a year of fixed repayments.

Updated

Fact checked

We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .

While personal loans are a serious commitment, they don’t necessarily have to be a long one. Whether you’re looking to buy a car, a boat or even just make a few purchases, you can opt for a shorter fixed rate term and have your loan repaid in one year.

Alex Personal Loan

Alex Personal Loan

From

6.95 % p.a.

fixed rate

From

6.95 % p.a.

comparison rate

  • Low interest rate from 6.95% p.a.
  • No manual paperwork
  • Use for various purposes
Security Logo

100% confidential application

Alex Personal Loan

Alex offers personal loan with a variable interest rate from 6.95% p.a. No manual paperwork needed.

  • Interest rate: 6.95% p.a.
  • Comparison rate: 6.95% p.a.
  • Interest rate type: Fixed
  • Application fee: $0
  • Minimum loan amount: $2,100
  • Maximum loan amount: $30,000
Go to site
Promoted

Fixed rate loans with 1 year option

Data indicated here is updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Alex Personal Loan

From 6.95% (fixed)
6.95%
$2,100
6 months to 5 years
$0 (waived $295)
$0
You'll receive a fixed interest rate from 6.95% p.a. to 19.99% p.a. based on your risk profile
Borrow between $2,100 and $30,000 from 6 months to 5 years. Benefit from no ongoing fees. Note: The establishment fee of $295 is waived for all applications until 31 October 2020. Terms & conditions apply.
NAB Personal Loan Unsecured Fixed

From 9.99% (fixed)
10.88%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) 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. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
CUA Unsecured Fixed Rate Personal Loan
9.89% (fixed)
10.14%
$5,000
1 to 7 years
$175
$0
You'll receive a fixed rate of 9.89% p.a.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
Heritage Bank Fixed Personal Loan
7.99% (fixed)
8.62%
$5,000
1 to 5 years
$200
$5
Choose a fixed rate loan and receive a comparison rate of 8.62% p.a.
Fixed rate loans are available up to $100,000 on terms from 1 to 5 years.
MoneyMe Personal Loans

From 8.99% (fixed)
10.68%
$3,001
2 to 5 years
5 - 8% of the principal borrowed, capped at $1,200
$0
You'll receive an interest rate between 8.99% p.a. and 29.99% p.a. based on your risk profile
A flexible personal loan from MoneyMe with access to cash when you need it.
loading

Compare up to 4 providers

How do one-year fixed rate personal loans work?

These personal loans have a fixed rate of interest that can be secured or unsecured. Whatever rate is on your contract at the beginning of the loan term is applied to your account for the remainder of the term, so your repayments will always remain the same. The loan comes with a fixed repayment term of one year.

What can you finance with a one-year fixed rate loan?

You can use one of these loans for a range of purposes. Examples include:

  • Buying a new or used car.
    You can use a secured or unsecured personal loan to buy your vehicle and pay it back with fixed repayments. Just make sure you check your budget and you’re confident that one year will be enough time to pay it back.
  • Making a large purchase.
    This includes purchasing furniture, investing in home renovations or something similar. An unsecured personal loan can be an option to consider if you’re looking to make a number of small purchases.
  • Consolidating debt.
    If you’re paying off one or multiple debts on loan or card accounts and you can repay within a year, you can lock in a competitive rate to pay it off.

How you can compare fixed rate personal loans

If you’re considering applying for a one-year fixed rate loan, it’s important to compare your options to ensure you find the right one. Asking the following questions can help you when comparing:

  • What’s the interest rate? Make sure you check the interest rate and the comparison rate. The interest rate is what you are charged for borrowing, while the comparison rate gives you a better idea of the true cost of the loan including all fees and charges expressed as a percentage.
  • What are the upfront and ongoing fees? Check for establishment fees, monthly fees and annual fees. These can contribute significantly to the cost of the loan, especially as the loan is repaid over a short space of time.
  • What other charges apply? Are there fees for early repayment? What will you be charged for missed or late payments? Are you charged for making additional repayments?
  • Are you eligible for the loan? Check the minimum age, income, employment and credit history requirements and ensure you meet them. The next step is to use a personal loan repayment calculator and see if the repayments will be manageable on your budget. Ultimately, lenders will only approve you for a loan if they think you can afford it, so establishing this on your own can save you a rejected application.

B&W Wedding couple

Have you weighed up the pros and cons of these loans?

  • Your repayments will remain the same for the duration of your loan term
  • The loan term is short and you can have your debt repaid within one year
  • The shorter repayment term means your repayments will be higher
  • If you want to make additional repayments or repay your loan early, it’s likely you will need to pay a fee

Questions you might still have about one-year fixed rate loans

Am I eligible for a loan?

Eligibility criteria differ between lenders. Generally, you need to be over the age of 18, have a good credit history and be an Australian citizen or permanent Australian resident. If you are a temporary Australian resident, you still might have personal loan options available to you.

What loan amounts are available?

The loan amount you’re approved for depends on your individual financial situation. Lenders generally offer anywhere between $3,000 and $80,000. You can click on the name of the lender from the comparison table above to find out the minimum and maximum loan amounts on offer.

What other fixed rate personal loan terms are available?

You can apply for fixed rate loan terms in one-year increments from anywhere between one and seven years.

More guides on Finder

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) 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. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% 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.

Logo for Pepper Money Unsecured Fixed Rate Personal Loan
Pepper Money Unsecured Fixed Rate Personal Loan

You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.

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.
Go to site