applying for a loan online

Online loans

For a simple application and to receive your funds quickly, apply for your personal loan online.

Finding and applying for a personal loan online can make the process much quicker. Online applications can simplify the borrowing process and it's easier to compare all of your loan options when they're online.

Find out what's involved with the online loan process in this guide.

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
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100% confidential application

Harmoney Unsecured Personal Loan

An unsecured personal loan up to $70,000. You'll received a tailored interest rate between 6.99% p.a. and 28.21% p.a. 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
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Compare a range of online loans

Rates last updated September 24th, 2018
$
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 28.21% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 year terms.
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
12.99% (fixed)
14.14%
$4,000
1 to 7 years
$12
$250
You'll receive a fixed rate of 12.99% p.a.
Benefit from the security of a fixed rate with the flexibility of additional repayments. Existing Westpac customers may qualify for discounts.
HSBC Personal Loan
From 9.5% (fixed)
10.06%
$5,000
1 to 5 years
$5
$150
You'll receive a fixed rate between 9.5% p.a. and 15.99% 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.
RateSetter 3-Years Personal Loan
From 8.42% (fixed)
10.97%
$2,001
0.5 to 5 years
$0
$220
You'll receive a fixed rate from 8.42% 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 5 years.
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.
Citi Personal Loan Plus
From 8.99% (variable)
9.96%
$5,000
3 to 5 years
$10
$199
You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. 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.
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 . Benefit from flexible repayments and fast approval.
Sydney CU Special Offer Unsecured Personal Loan
From 7.99% (variable)
7.99%
$5,000
1 to 7 years
$0
$0
You’ll receive an introductory rate of 7.99% p.a.
An unsecured personal loan up to $30,000 and no annual or monthly fees. Introductory rate and waived application fee until 31 October 2018.
CUA Unsecured Fixed Rate Personal Loan
11.99% (fixed)
11.99%
$5,000
1 to 7 years
$0
$0
You'll receive a fixed rate of 11.99% p.a.
An unsecured loan from $5,000 with no monthly or establishment fees and flexible repayments.
NAB Personal Loan Unsecured Variable Rate
Headline rate 12.69% (variable)
13.56%
$5,000
1 to 7 years
$10
$150
You'll receive a variable rate based on your risk profile. The headline rate is 12.69% p.a.
An unsecured loan up to $55,000 you can use for a range of purposes. Benefit from fee-free additional repayments and a redraw facility.
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.
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 29.99% p.a. based on your risk profile
A loan from $50,000 to use for a range of purposes. Benefit from no monthly or application fees.
MyState Unsecured Personal Loan
12.99% (variable)
16.42%
$3,000
1 to 7 years
$10
$200
You'll receive a variable rate of 12.99% p.a.
Apply for up to $50,000 and make additional repayments at any time without penalty.
People's Choice CU Discounted Personal Loan
From 7.99% (fixed)
8.35%
$10,000
1 to 10 years
$0
$250
You'll receive a fixed rate of 7.99% p.a.
Secure this loan with a vehicle up to 7 years old and benefit from long loan terms up to 10 years and pre-approval.
St.George Unsecured Personal Loan - Fixed Rate
From 12.99% (fixed)
14.06%
$2,000
1 to 5 years
$12
$195
You'll receive a fixed rate between 12.99% p.a. and 19.99% p.a. based on your risk profile
A low minimum borrowing amount of $2,000 to fund a range of purposes.

Compare up to 4 providers

Personal Loan Comparison

What are the benefits of an online loan?

Applying for a personal loan online comes with a number of benefits:

  • Fast turnaround. Online lenders can usually approve your loan, and fund it, faster than other lenders. Conditional approval usually takes place within a minute or two and your loan can be funded the same business day.
  • Compare options easily. The right personal loan isn't always the one with the lowest rate. By comparing features, rates and fees online you can find the right loan for you.
  • Track your application. When you apply for a loan online, you're usually given a tracking number so you can see what stage the application is at. If you're not
  • Find exclusive offers. You may find exclusive deals and offers cutting interest rates or dropping fees.

Are online loans are better than loans from branch-only institutions?

Both online loans and loans from bricks-and-mortar lenders have certain benefits.

Online loans

  • Online-only lenders may be able to offer better rates because they have fewer overheads
  • It's more convenient to apply for a personal loan online
  • You can compare online loans side-by-side more easily

Branch-only loans

  • Customer service reps can help you through the loan process
  • If applying with your current bank you may find out about discounts in-branch
  • If the lender has branch locations as well as letting you apply online you have a choice of how to apply

Turnaround time for some popular lenders

LenderTurnaroud time
ANZSame day if approved
Bank Australiawithin 24–48 hours
Bank of Melbourne5-7 working days
BankSA5-7 working days
Beyond Bank4-7 business days
Citibank7-10 business days
CUA3-5 business days
HarmoneyMaximum of 14 days
HSBC1 week
Latitude Financial ServicesNext day or no more than two working days if approved
MoneyPlaceWithin 2 business days of approval
MyStateWithin 1 business day if you have a good credit
NABSame day
NOW FINANCEWithin 2 business hours
RACQWithin a matter of days.
RACVWithin 24 hours
RateSetterNext business day
SocietyOneMinimum 72 hours after applied online
St.George5-7 working days
Westpac3 business days

What types of loans are available online?

There are a variety of personal loans you can apply for online:

How do I find the best online loan?

Comparing the following features can help you narrow down the best loan option for you:

  • Interest rate. This can be fixed or variable, with both offering different advantages and disadvantages. Fixed rate loans can come with more restrictions in terms of additional repayments and repaying the loan early. Variable rate loans don’t have these restrictions, but the rate may change during your loan term.
  • Fees. Costs for online loans can be upfront, in the form of establishment and application fees, or ongoing, in the form of annual or monthly fees. You'll also be charged for late and missed payments as well as defaults. You can check the comparison rate for a better idea of the true cost of the loan.
  • Repayment flexibility. Can you choose the frequency of your repayments? Can you pay monthly, fortnightly or weekly? Can you make additional repayments without penalty? Are you able to repay the loan early without a fee? Check the flexibility of your contract before you apply.
  • Features. Some lenders offer multiple ways to contact customer service, including online chat. You may also get an online account to manage your loan with others and some lenders may offer discounts on other products.

Is it safe to apply for a loan online?

Online loans have become more common and several reputable lenders operate online. Most traditional banks and lenders now offer their loan products online.

There are a few ways to check if online lenders are reputable. First, check that the credit licence is clearly displayed on the site. You can also check contact information and see how easy the lender is to reach.

Look through the details of the loan to make sure there are no hidden fees and charges. By looking at online reviews of the lender or its products, you can check customer satisfaction. Just make sure the reviews are not on the lender's site to ensure they are real.

How do online loan applications work?

Application processes differ between lenders, but generally involve the following factors:

  • Required information. You will need to supply your name as well as your employment and financial situation. This will include your income and your employer's name and details as well as your assets, debts and liabilities.
  • Required documents. Lenders may require bank statements, payslips and other documents to support your application.

Are you eligible for an online loan?

Eligibility criteria will differ depending on the type of loan you apply for. Here is what to keep in mind:

  • Personal loans and car loans. You will generally need to be over the age of 18, employed and earning a steady income over $15,000 p.a. This minimum income may be higher depending on the lender you apply with or how much you apply for. With car loans, your car will also need to meet eligibility criteria. You can find out more about personal loan eligibility criteria here.
  • Short term loans. You will need to be over the age of 18 and earning some sort of income. Lenders have different requirements for Centrelink recipients. It's also important to keep in mind that if you have gambling transactions in the last 90 days of your banking transactions (which you have to give as part of your application) you will not be approved.

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Personal Loan Offers

Important Information*
HSBC Personal Loan

You'll receive a fixed rate between 9.5% p.a. and 15.99% 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.

SocietyOne Unsecured Personal Loan

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.

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.

Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. 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.

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