Guide to personal loan comparison rates

Find out the real cost of your loan with the personal loan comparison rate.

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Comparing loans by their interest rates can give you an idea of which will be the more affordable option, but it won't give you as good an idea as the comparison rate will. This rate includes both the interest rate and the fees, giving you a better idea of the overall cost of the loan. This guide will take you through what you need to know about comparison rates and how to use them to compare loans.

What is a comparison rate?

The comparison rate is how you can understand the true cost of a loan. Expressed as a percentage, it includes both the interest rate and the fees that come with the loan. That's why it will usually be higher than the interest rate charged on the loan.

Comparison rates may be calculated differently depending on the loan. However, if they are provided, it needs to be disclosed how they are calculated. For example, it may be calculated on a personal loan of $30,000 over 5 years.

Start comparing personal loan rates

How do I find out the comparison rate?

A comparison rate will be displayed alongside the interest rate. On Finder comparison tables, you will be able to see a column labelled "comparison rate" for each loan. By scrolling over this rate you will be able to see how it's calculated.

Should I still check the interest rate?

Yes! Checking the interest rate is an important part of comparing your personal loan options. Your outstanding balance will be charged interest which will be calculated using the interest rate, not the comparison rate. It's important to know what this rate is and whether it is competitive. Comparison rates are just there to give you a comprehensive view of the loan, but the interest rate is important as you are charged that rate during your term.

What else should I consider when comparing personal loans?

  • Type of interest rate. As well as checking how much interest you will be charged, you should also check what type of interest rate the loan comes with. That is, is it fixed or variable.
  • Loan term and flexibility. This is how long you have to repay your loan. As well as checking how long of a loan term you're able to select, you should also check whether you are able to repay the loan ahead of schedule.
  • Fees. The comparison rate will give you an idea of the cost of the loan but you should still know the precise fees you will be charged. Look for upfront fees such as establishment and application fees as well as monthly and annual fees.
  • Repayment flexibility. Find out if you can make extra repayments without penalty and if you're able to repay your loan early without incurring a fee. You should also check if you can choose between weekly, fortnightly or monthly repayments to suit your budget.

Interest rates and comparison rates are crucial when comparing and selecting a personal loan as they help you understand the true cost of the loan. Start comparing rates today to help find the best personal loan for you.

Citi Personal Loan Plus

Citi Personal Loan Plus

From

8.99 % p.a.

variable rate

From

9.67 % p.a.

comparison rate

  • Loan amounts from $5,000
  • Offers a reusable credit facility
  • Repay over 5 years
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100% confidential application

Citi Personal Loan Plus

A reusable credit facility of up to $75,000. Receive a tailored interest rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) based on your risk profile.

  • Interest rate from: 8.99% p.a.
  • Comparison rate: 9.67% p.a.
  • Interest rate type: Variable
  • Application fee: $0 ($199 establishment fee waived)
  • Minimum loan amount: $5,000
  • Maximum loan amount: $75,000
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Compare personal loan comparison rates today

Use the table below to compare a range of personal loans. You can sort by interest rate or the comparison rate to aid in your comparisons.

Updated September 16th, 2019
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
From 8.99% (variable)
9.67%
$5,000
3 to 5 years
$0 ($199 establishment fee waived)
$10
You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) 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. Note: The establishment fee will be waived if you apply before 30 September 2019.
12.45% (fixed)
13.32%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate of 12.45% 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.
8.99% (fixed)
9.13%
$5,000
2 to 5 years
$100
$0
You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.
From 5.85% (variable)
7.84%
$2,001
6 months to 5 years
$299 (Based on $10,000)
$0
You'll receive a variable rate between 5.85% p.a. and 16.4% 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 3 years.
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$500 (Upfront fee)
$0
You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
from 3% of loan amount
$0
You'll receive a fixed rate between 7.5% p.a. and 17.49% 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.
From 8.95% (fixed)
10.56%
$5,000
18 months to 7 years
$495 (Based on $10,000)
$13
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.
12.99% (fixed)
14.14%
$4,000
1 to 7 years
$0 ($250 establishment fee waived)
$12
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. Note: Establishment fee will be waived if you apply and are approved before 30 September 2019.
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.
From 10.69% (fixed)
11.58%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 10.69% p.a. and 18.69% p.a. ( 11.58% p.a. to 19.53% 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.
From 5.99% (variable)
7.55%
$5,000
1 to 7 years
from 2% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.99% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
From 12.99% (fixed)
14.06%
$2,000
1 to 5 years
$0 ($195 establishment fee waived)
$12
You'll receive a fixed rate between 12.99% p.a. and 18.9% p.a. based on your risk profile
A low minimum borrowing amount of $2,000 to fund a range of purposes. Note: Establishment fee will be waived if you apply and are approved before 30 September 2019.
From 13.99% (fixed)
15.19%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
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.
From 7.93% (fixed)
8.77%
$1,000
1 to 5 years
$500 (from $100 to $500)
$10
You'll receive a fixed rate between 7.93% p.a. and 18.87% p.a. based on your risk profile
An unsecured loan with a low minimum borrowing amount and flexible repayment options.
10.99% (fixed)
12.21%
$20,000
1 to 7 years
$250
$13
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 $20,000. Benefit from flexible repayments and fast approval.
From 8.05% (fixed)
9.06%
$2,000
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 8.05% p.a. based on your risk profile
A personalised loan from $2,000 to $50,000 that varies based on your credit history and financial situation.
From 12.99% (variable)
16.42%
$3,000
1 to 7 years
$200
$10
You'll receive a variable rate of 12.99% p.a.
Apply for up to $50,000 and benefit from features such as fast approval, free online redraws and no penalties for early repayment.
15.99% (variable)
16.84%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate of 15.99% p.a.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.
10.89% (variable)
11.15%
$30,000
1 to 7 years
$175
$0
You'll receive a discounted variable rate of 10.89% p.a.
Borrow over $30,000 and receive a discounted interest rate. No monthly fees and a redraw facility also available.
From 10.69% (variable)
11.58%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 10.69% p.a. and 18.69% p.a. ( 11.58% p.a. to 19.53% p.a. comparison rate) based on your risk profile
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. 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.
From 12.99% (variable)
14.06%
$2,000
1 to 7 years
$0 ($195 establishment fee waived)
$12
You'll receive a variable rate between 12.99% p.a. and 18.9% p.a. based on your risk profile
A low minimum borrowing amount of $2,000 plus the convenience to make extra repayments and redraw them if you need them. Note: Establishment fee will be waived if you apply and are approved before 30 September 2019.
From 7.88% (variable)
8.72%
$1,000
1 to 7 years
$500 (from $100 to $500)
$10
You'll receive a variable rate between 7.88% p.a. and 18.82% p.a. based on your risk profile
An unsecured loan with flexible repayment options and a low minimum borrowing amount.

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Important Information*
Logo for Citi Personal Loan Plus
Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) 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. Note: The establishment fee will be waived if you apply before 30 September 2019.

Logo for ING Personal Loan
ING Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.

Logo for RateSetter Unsecured Personal Loan - 3yr Variable
RateSetter Unsecured Personal Loan - 3yr Variable

You'll receive a variable rate between 5.85 p.a. and 16.40 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 3 years.

Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

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2 Responses

  1. Default Gravatar
    FionaJuly 26, 2018

    Im on Centrelink benefits is there any lenders that do personal loans for $3000 if so how long should it take to pay back & how do I work out the fortnightly repayments

    • Default Gravatar
      JoelJuly 27, 2018

      Hi Fiona,

      Thanks for leaving a question on finder.

      You still may be eligible for a loan if you receive Centrelink payments as part or even all of your income. These include loans from short-term lenders, banks and credit unions. Government and community financial assistance schemes are also available.

      Please click HERE for the guide and comparison.

      Cheers,
      Joel

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