Personal loan brokers

A personal loan broker can save you time and help you find the right loan.

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Personal loan brokers can help you find a personal loan that is suited to your requirements and financial situation. Instead of applying directly with a lender, you apply for a loan via a broker instead. The broker will then contact the lenders that they are affiliated with, as well as search the market, to find a loan that's the right fit for you.

Find out everything you need to know about personal loan brokers, the benefits and drawbacks of using one, and how to find a good broker below.

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Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Harmoney Unsecured Personal Loan

From 5.35% (fixed)
6.14%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
You'll receive a fixed rate between 5.35% p.a. and 19.09% 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.
Plenti Personal Loan

From 5.43% (fixed)
5.43%
$2,001
3 to 7 years
$0 to $999
$0
You'll receive a fixed rate between 5.43% p.a. and 17.89% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 3 years. Interest and comparison rates calculated for a loan term of 5 years.

⭐ Finder Exclusive: Eligible applicants with excellent credit will receive rates starting from 5.43% p.a. (comparison rate 5.43% p.a.). Offer ends 30 June 2021. T&Cs apply.

Citi Personal Loan Plus
8.90% (variable)
9.18%
$5,000
3 to 5 years
$199
$0
You'll receive a guaranteed rate of 8.90% p.a. with a comparison rate of 9.18% p.a. if you're approved. Note: This rate may vary during the loan term.
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: Monthly account service fee will be waived for applications submitted before 30 September 2021. The interest rate doesn’t change based on your risk profile, so you know your rate before you apply.
OurMoneyMarket Personal Loan

From 6.29% (fixed)
6.54%
$2,001
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 6.29% p.a. to 20.99% p.a. based on your risk profile
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

⭐Special Offer: If your loan is approved before June 30th, you will get a discounted rate of 5.35% p.a. (comparison rate: 6.31% p.a.) for the first 12 months regardless of your credit score.
Alex Personal Loan

From 5.45% (fixed)
5.45%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 5.45% 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. Note: The $295 establishment fee will be waived for loan applications submitted by 11 August 2021.
Symple Loans Personal Loan

From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
⭐Special Offer: Earn up to 50,000 Qantas Points with a personal loan from Symple.
Borrow up to $50,000 with interest rate from 5.75% p.a. to 25.99% p.a. and earn 1 Qantas Point for every $1 borrowed.
NOW Finance No Fee Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
No Establishment Fee
$0
You'll receive a fixed rate between 5.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.
ANZ Fixed Rate Personal Loan
8.99% (fixed)
9.88%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 8.99% p.a. with a comparison rate of 9.88% p.a. if you're approved.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

⭐Special Offer: Secure a reduced interest rate of 8.99% p.a. for a limited time only. Apply for up to $50,000 to use for a variety of purposes without needing to add security.
SocietyOne Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 5.95% 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.

⭐ Finder Exclusive: Get a $200 cashback if your loan is approved by June 30 2021. T&Cs apply.
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
Wisr Personal Loan

From 6.49% (fixed)
6.76%
$5,000
3 to 7 years
$195
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer: Wisr's standard establishment fee $595 will be reduced to $195 for applications submitted through Finder. T&Cs apply.
Heritage Bank Fixed Personal Loan
7.99% (fixed)
8.62%
$5,000
1 to 7 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 7 years.
Great Southern Bank Unsecured Fixed Rate Personal Loan
9.39% (fixed)
9.64%
$5,000
1 to 7 years
$175
$0
You'll receive a guaranteed rate of 9.39% p.a. with a comparison rate of 9.64% p.a. if you're approved.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
MoneyMe Personal Loans

From 6.25% (fixed)
7.64%
$2,100
1 to 5 years
from $295 to $495
$10
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
ANZ Variable Rate Personal Loan
10.50% (variable)
11.38%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 10.50% p.a. with a comparison rate of 11.38% p.a. if you're approved. Note: This rate may vary during the loan term.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.
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How do personal loan brokers work?

Personal loan brokers work in a similar way to mortgage brokers: they help you find a good deal on your loan.

Personal loan brokers can help you with the full range of personal loan products offered by lenders. Whether you are planning a holiday or buying a new car, a personal loan broker can assist you with finding a suitable product.

Personal loan brokers search for a loan within their lending panel, which is simply the group of lenders that they deal with. Once you sign up for their services, they will find a product from one of these lenders. Most personal loan brokers offer online applications and loan management, so there is no need to book an appointment or sign and post documents, which can save you time.

Are personal loan brokers worth considering?

Pros
  • Personal loan brokers offer you convenience. Rather than only comparing the market yourself, a personal loan broker can take some of the legwork off your hands, (though you should still try to do at least some of your own research). You'll also have the benefit of a single contact for the total term of your loan.
  • They are experts in their field. A broker is usually required to have either a Certificate IV in Finance and Mortgage Broking (FNS40815), a Diploma of Finance and Mortgage Broking Management (FNS50315) or a Bachelor of Business (Financial Planning) making them learned experts in their field.
  • They are obliged by ASIC to protect your interests. Brokers have to have an Australian credit licence under the National Consumer Credit Protection Act 2009 in order to provide credit assistance. This means that they have an obligation to find you the best deal possible for your circumstances.
  • They tailor their options. A broker can help to find you the best loan option for your unique circumstances.
  • Can help bad credit applicants. Brokers may be particularly useful if you have a bad credit score or trouble meeting the standard lending requirements at larger financial institutions.
  • Can help you maintain your score. Using a broker can help you maintain a good credit score by preventing unnecessary applications and potential rejections from multiple lenders. Brokers have a good understanding of different lending requirements of various lenders, so they won’t recommend products that you are likely to be rejected for.
Cons
  • A broker's interests may not align with yours. Despite ASIC's measures to protect consumers from being given bad financial advice, brokers still generally work on a commission basis. This means that some brokers may be inclined to direct you towards the lender paying the highest commission, rather than the one that would give you the best deal.
  • You may have to pay a broker fee. While most brokers work on commission from lenders, some may charge you for their services. On the plus side, while this will incur a cost to you, it could put your mind at rest that you are not being steered towards a higher charging lender.
  • Some lenders don't work with personal loan brokers. Not all lenders choose to work with brokers. This could mean that there are better deals on the market than those that your broker has access to. This is why it's important to also do your own market research.
  • Brokers cannot guarantee your rate. Brokers can accurately estimate your rate, fees, etc. for a certain loan, but they cannot guarantee them for you. Lenders still have the right to charge you more based on their view of your financial viability.
Don't use a broker if you only need a small loan amount to avoid using a credit card, then a broker isn't suitable for you. Loan brokers often have different minimum loan amount requirements to the lenders themselves. Some credit unions and smaller banks will lend as little as $2,000 unsecured, whereas brokers typically won't deal with less than $5,000.

How to find a good broker

  • Loans offered. Make sure the broker you are considering offers the type of loan that you require.
  • Type of interest. Most brokers offer fixed interest loans only.
  • Loan conditions. Can you pay the loan out sooner, make additional repayments or redraw on overpaid amounts? Make sure you can access these services without having to pay a fee.
  • Lending panel. This is the group of lenders from which your broker will choose a loan. The bigger the panel, the greater the chance of you getting the best deal available.
  • How they work. Some brokers operate almost entirely online, whereas others use the more traditional phone, fax and mail. Make sure you’re comfortable with whichever system your broker uses.
  • Funding time. Brokers have different speeds at which they are able to approve and fund your loan. If you are in a hurry, an online-based broker should be able to approve your loan faster than a paper-based one.
  • Customer service. You will be dealing with the broker for the term of your loan, so make sure you are happy with the level of service they provide. Call them to see how long it takes to get an answer and find out what kind of support they offer.

What to avoid with personal loan brokers

  • A small lending panel. The more lenders your broker has access to, the better your chance of getting the best loan available. Make sure your broker compares a large range of options, otherwise you might as well just do it yourself.
  • Commissions. There isn’t anything wrong with a broker being paid a commission, just be sure of what the commissions are and how they affect the broker’s recommendations. Less honest brokers might push lenders that pay them higher, rather than the ones that offer the best option for you.
  • Fees and charges. Understand the fees and charges that you will have to pay. Ensure that they are all clearly explained to you before you commit to your broker and the loan. It may be worth doing a quick comparison with your current bank, just to get an idea of what you could get without assistance.

Alternatives to personal loan brokers

There are other ways to get a personal loan:

  1. Compare rates yourself

    By visiting a range of lender websites, you can get an idea of what different lenders are charging, what their eligibility criteria are and how much you can borrow.

    However, this is time consuming and could be confusing for prospective loan customers who aren't sure where to look.

  2. Compare the options in the table above

    At Finder, we compare the market so that you don't have to. Compare the rates above from our table of lenders and see some of the best rates currently available in Australia.

    For more information on the eligibility criteria involved in the loans, available loan amounts, features and fees of each loan, simply click "More info" to be taken to our product review page. Or, to be securely routed to the lender's website directly to submit an application, simply click "Go to site".

Have more questions about personal loan brokers?

Picture: Shutterstock

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 5.35% p.a. and 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 ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 8.99% 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.

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

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% 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.

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24 Responses

    Default Gravatar
    JamesFebruary 13, 2019

    I’m looking for a $15,000 personal loan, can you please show me all the options I have?

      Default Gravatar
      NikkiFebruary 14, 2019

      Hi James,

      Thanks for getting in touch!

      You can check our list of personal loans. Please use our table to help you find the lender that suits you. You can click the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

    Default Gravatar
    HughJanuary 19, 2019

    Please send me a list of personal loan brokers

      Avatarfinder Customer Care
      ValJanuary 24, 2019Staff

      Hi Hugh,

      Thank you for leaving a question. Please check a list of loan brokers featured on our website. On the page provided, you will be able to compare lenders through our comparison table.

      You can select the “Go to site” button for more information. Please check eligibility requirements and the T&C prior to applying.

      Hope this helps.

      Cheers,
      Val

    Default Gravatar
    ParvizDecember 6, 2018

    I am a PhD international student would like to apply for a personal loan up to $10,000 to $20,000, if possible.

      Avatarfinder Customer Care
      JoshuaDecember 13, 2018Staff

      Hi Parviz,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      The answer to your question would depend on the criteria of the lender. In general, temporary residents are eligible for personal loans in Australia. However, it’s likely you will have to meet additional criteria in order to be eligible. This may include a higher minimum income requirement. You will also need to be on a certain type of visa, according to the lender’s requirements, and the term of your loan cannot exceed the time left on your visa.

      Please refer to our page for personal loans for temporary residents. I recommend that you check the details of the loan, eligibility requirements (Visa, income requirements, etc), and its terms and conditions before you apply. Once you’re ready, you can click on the ‘Go to site’ button and process the application from the main page of the lender.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    DougOctober 22, 2018

    Lenders who accept Disability Pension &/or guarantor

      Avatarfinder Customer Care
      JohnOctober 22, 2018Staff

      Hi Doug,

      Thank you for leaving a question.

      There are lenders that may consider you for a loan. Please refer to our list of lenders offering pensioner loans and Centrelink loan. If you want to know more about the lender, simply click their name to read our product review. Once you have chosen a particular lender, you may then click on the “Go to site” button if available and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance.

      Cheers,
      Reggie

    Default Gravatar
    Sonya VillerJuly 31, 2018

    I’m a pensioner who wants to buy a mobile caravan worth 40,000

      Default Gravatar
      JoelJuly 31, 2018

      Hi Sonya,

      Thanks for leaving a question on Finder.

      Our guide for caravan loans for pensioners will take you through everything you need to know to help you find the right type of caravan loan for you.

      Caravan loans are available to people in various financial situations, including pensioners. However, lenders differ on their eligibility criteria. Lenders usually have minimum income requirements and consider certain forms of income, so lenders offering caravan loans to pensioners may consider the age pension or super payments as income, or even consider income from rental payments. More specific information is provided in the table at the bottom of the page.

      To get your application across the line, provide as much detail and documentation on your income streams and finances as possible.

      Cheers,
      Joel

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