Furniture Loans

If you’re looking to get new furniture, you can apply for a range of personal loans, including interest-free loans.

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Personal loans to consider for furniture purchases

$
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 $70,000 and repay your loan over 3 or 5 years terms.
OurMoneyMarket Personal Loan

From 5.45% (fixed)
6.07%
$2,001
1 to 7 years
From $250
$0
You'll receive a fixed rate from 5.45% 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.

⭐ Finder Exclusive: Apply before 31 January 2022 to secure a discounted rate of 5.45% p.a. (comparison rate: 6.07% p.a.) for the first 12 months on loans over $35,000. T&Cs apply.
Alex Bank Personal Loan

From 4.99% (fixed)
4.99%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 4.99% p.a. to 14.99% p.a. based on your risk profile
Borrow between $2,100 and $30,000 from 6 months to 5 years.

⭐ Special Offer: Note: The $295 establishment fee will be waived for loan applications submitted by 26 January 2022.
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

You'll receive a variable rate from 5.75% p.a. to 25.99% p.a.

Borrow up to $50,000 and earn 1 Qantas Point for every $1 borrowed.

⭐Special Offer: Earn up to 50,000 Qantas Points with a personal loan from Symple.
Wisr Personal Loan ($5,000 to $30,000)

From 6.49% (fixed)
6.49%
$5,000
3 to 7 years
$0 - Waived Establishment Fee
$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:The $595 establishment will be waived for unsecured personal loans between $5,000 and $30,000. Offer ends 31 January 2022. T&Cs apply.
Latitude Personal Loan (Unsecured)

From 7.99% (fixed)
9.24%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 7.99% p.a. and 22.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly. You can check your interest rate before applying with no impact to your credit score.
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.
Wisr Personal Loan ($30,001 to $64,000)

From 6.49% (fixed)
7.11%
$30,001
3 to 7 years
$595
$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 $30,001 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer:The $595 establishment will be waived for unsecured personal loans between $30,001 and $64,000. Offer ends 31 January 2022. T&Cs apply.
Citi Personal Loan Plus
8.90% (variable)
9.18%
$5,000
3 to 5 years
$199
$0
You'll receive a variable rate of 8.90% p.a. with a comparison rate of 9.18% p.a. if you're approved.
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years.

⭐ Special offer: Note: Monthly account service fee will be waived for applications submitted before 31 January 2022.
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.
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: A $500 cashback offer available for loans of $10,000 or more that been applied for before 28 February 2022. Loans approved and drawn down by this date are also eligible for the reduced rate of 8.99% p.a.
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.
SocietyOne Unsecured Personal Loan

From 6.45% (fixed)
6.45%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 6.45% 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.
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.

⭐Special Offer: A $500 cashback offer available for loans of $10,000 or more that been applied for before 28 February 2022. Loans approved and drawn down by this date are also eligible for the reduced rate of 10.50% p.a.
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With a furniture loan, you can furnish your house, update old furniture or get that swanky vintage piece. Depending on the lender, you may also be able to apply even if you have bad credit. There are several types of furniture loans, including standard personal loans and interest-free finance.

What is a furniture loan and what can I use it for?

If your furniture needs an update or if you’re looking at a blank slate, there are loans you can take to furnish your house. These loans work as any other loan – you borrow up to a certain amount and repay it within the given loan term. Some loans such as interest-free finance don’t charge interest if you repay the loan within the term. Loan terms will defer based on the loan you apply for, but for an unsecured loan you can go up to 7 years.

You can use a furniture loan for:

  • New furniture. You could be moving to a new place or wish to jazz up your current home. You can use a furniture loan to cover the cost of couches, armchairs, beds, wardrobes, bookshelves and others.
  • White goods. These are large electrical goods such as refrigerators, washing machines, TVs, dishwashers and dryers. A furniture loan will typically cover these too.
  • Upgrades. This can include upgrades, such as on your air conditioning unit.
  • Transportation. Depending on the loan, you may also be able to cover the cost of transporting the new furniture or appliances.

What kind of furniture loans are available?

There are a number of options available, including:

  • Unsecured personal loan. With an unsecured loan, you can borrow up to $50,000 without using an asset as security. The interest rate for these loans is higher than for secured loans. You can use the loan for just about anything, including the cost of transporting and moving furniture.
  • Secured personal loan. If you have equity in your property, you could use it to secure a furniture loan too. Interest rates are generally lower than for unsecured loans. As with unsecured loans, you can use the funds to purchase anything you wish. How much you can borrow will depend on your equity.
  • Peer-to-peer loans. With a peer-to-peer loan, you’ll be borrowing money from individual investors through a third party. These loans often offer interest rates personalised to your credit score. If your credit score isn’t perfect, you may still be able to borrow but with higher interest. If you have good credit, your rates are likely to be low and the loan will cost you less.
  • Interest-free finance. With interest-free finance, you can buy furniture or appliances without interest and pay it off in instalments. Some of the providers include Afterpay, Zip Money and Latitude. While you won’t be charged interest, you could be charged interest and fees if you don’t make your repayments on time.
  • Short-term loans. Short-term loans are also called payday loans. It is a quick and easy form of finance, but it is expensive. The loans come with high fees and charges and generally the loan terms are also short. You should ideally avoid payday loans except in case of an emergency.

Compare interest free furniture loan options

Name Product Interest rate (p.a.) Min. loan amount Max. loan amount Establishment Fee Credit Check Required?
humm  ($1 - $1,999)
0%
$1
$1,999
$0 (Up to $90 on bigger purchases)
No
Zip Pay
0%
$350
$1,000
$0 establishment fee. $7.95 monthly fee applies.
Yes
humm ($2,000 - $30,000)
0%
$2,000
$30,000
$90 ($35 to $90 only applicable when applying for over $2,000.)
Yes
bundll
0%
$1
$4,000
$2.50 (If you snooze a payment, you will have to pay a fee of $2.50.)
Yes
Afterpay
0%
$35
$1,500
$0 establishment fee
No
Fupay
0%
$20
$500
$0 5%
No
Paypal Pay in 4
$30
$1,500
$0 (This service is interest and fee-free)
Yes
Openpay
0%
$1
$20,000
$0 for small amounts. Varies for larger amounts. Monthly fee may apply.
Yes
Klarna
0%
$35
$1,000
$0 establishment fee
Yes
Spot. Buy Now, Pay Later
0%
$1
$1,000
$0 (A single $10 charge for transactions you nominate to be paid over 8 instalments.)
Yes
Laybuy
0%
$120
$1,200
$0 (There is no upfront fee)
Yes
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How do I know which furniture loan is right for me?

When you’re comparing loans, there are a number of factors you need to consider. These include the following:

  • Does the loan allow me to buy what I need? If you’re looking to make multiple purchases, you need to check if you can use the loan funds to cover what you need. If there are any restrictions on how you can use the funds, you’ll need to consider those too.
  • Can I borrow how much I need? If you’re looking into major upgrades which will set you back a fair bit, you need to make sure the loan covers all the costs. If it looks like you won’t be able to borrow as much as you need, you should reconsider. Check the lender’s minimum and maximum borrowing limits.
  • Is the loan secured or unsecured? Depending on whether you want to offer security, you can filter for secured and unsecured loans.
  • What’s the interest rate of the loan? The interest rate is an important factor in determining the cost of the loan. A low interest rate means your loan will cost less, but it’s not the only cost you need to consider. Keep in mind that while a loan may have low interest, it could have high fees as well.
  • What are the fees and the comparison rate? The comparison rate is the total cost of the loan, inclusive of fees and interest. Fees include monthly and establishment fees. It does not include other fees which may come with exiting the loan early or making extra repayments. If those are features you’re interested in, make sure to take into account how much it will cost.
  • Do they offer the terms you need? If you need a loan term of 7 years, be sure to check if the lender offers this.
  • Do they have multiple repayment options? Does the lender offer you repayment flexibility? Are you able to choose between weekly, fortnightly and monthly repayments? Do you want to be able to make extra repayments without penalty? If you want specific features with your loan, look for a loan that offers it.
  • Am I eligible for the loan? This may sound obvious, but you need to check the lender’s eligibility criteria, including income and credit score. You should only apply if you tick all the boxes and meet their minimum requirements.

What should I avoid with a furniture loan?

  • Applying for the first loan you see. You won’t know if you’re getting the best deal if you apply for the first loan you find. Compare your options first and make a shortlist based on cost, terms, convenience and eligibility. Go for the loan that offers you the best deal.
  • High fees and charges. Try to avoid loans that come with thumping interest rates or fees. This will only make your repayments higher and make it harder for you to repay the loan. You may be able to afford it, but you can also find a better loan.
  • Borrowing more than you can afford. Check the cost of the loan and make sure you can afford it. You should be comfortably able to include your repayments in your budget. You should also avoid borrowing more than you need.
  • Splurging. You may be tempted to buy more than you need or go for furniture well outside your budget. Figure out what you can afford and stick to your budget. Avoid spending more than what you planned for. Remember you pay interest for every dollar you borrow.
  • Multiple applications. Every loan application shows up on your credit report. Several applications within a short period can have a negative impact on your credit score. This can make it harder for you to get a loan in the future. Select a single loan and lender that you’re eligible for and that suits your needs. If you’ve already applied for legal finance, give it a few more days or contact the lender before applying elsewhere.
  • Long-term repercussions and legal issues. Once you sign a loan agreement, you are bound to its conditions. You will have to pay the loan and all the fees and payments. Keep in mind that for unsecured loans, the lender can initiate legal proceedings against you if you don’t repay the loan. It can also report the debt to a credit reporting body like Equifax and use the services of a debt collector. With secured loans, your loan security can be repossessed by the lender if you fail to make your repayments.

How can I apply for a furniture loan?

🤔 Work out what type of loan you need, how much you need to borrow and what you can afford. You can use a personal loan calculator to help you.

🔎 Start comparing lenders. You can use the comparison table on this page. Don't forget to compare interest and comparison rates and find a loan you’re eligible for.

✅ Select a lender. If you’re using the comparison table, you can click “Go to site” to be directed to the lender’s page, or “More Info” if you want to read up on the lender.

🖨️ Organise and prepare the required documentation. This can make the application process easier.

📱 Apply. Most lenders have their applications online.

Frequently asked questions

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 $70,000 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
    Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

    Logo for SocietyOne Unsecured Personal Loan
    SocietyOne Unsecured Personal Loan

    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.

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