Find the best* personal loan for you

There's a way you can get the best personal loan* – it's as easy as 1, 2, 3...

You could take out a personal loan for a range of different reasons. While one person might need a personal loan to buy a car, another might take one out for renovating a home or making a consolidating debt. There's a large amount of personal loans available, so, how do you find the best one for you?

What is the best personal loan for me?

The best personal loan* for you will depend on your own needs and circumstances. The best solution for someone else may not be the best solution for you. You should think about why you need the loan and over what term. Remember that the best loan for you is one that you can afford, is flexible enough to adapt to any change in your circumstances and one that doesn't have any nasty terms or conditions. Fees, charges and the interest rate are all important aspects for you to consider. Make your own decision, but if you need help, get professional advice rather than committing to a loan that's not suitable for your needs.

HSBC Personal Loan Offer

HSBC Personal Loan


9.50 % p.a.

fixed rate


10.06 % p.a.

comparison rate

  • Competitive interest rate
  • Additional payments OK
  • Borrow up to $50,000
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100% confidential application

HSBC Personal Loan Offer

Apply for a HSBC Personal Loan and get competitive interest rate offer with a flexible range of repayment options.

  • Interest rate from: 9.50% p.a.
  • Comparison rate: 10.06% p.a.
  • Interest rate type: Fixed
  • Application fee: $150
  • Minimum loan amount: $5,000
  • Maximum loan amount: $50,000
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Compare a range of personal loans

Rates last updated January 21st, 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
HSBC Personal Loan
From 9.5% (fixed)
1 to 5 years
A competitive fixed interest rate loan with the option to make extra repayments. Min. income $40,000
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
3 to 5 years
$500 (Upfront fee)
Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 29.99% p.a. based on credit history.
Citi Personal Loan Plus
9.99% (variable)
3 to 5 years
Borrow up to $75,000 to use for a range of purposes. Competitive rate of 9.99% p.a. available to all approved applicants.
Heritage Bank Standard Personal Loan
From 10.94% (fixed)
1 to 5 years
A competitive personal loan available up to $50,000.
MyState Unsecured Personal Loan
From 12.99% (variable)
1 to 7 years
Apply for up to $50,000 and make additional repayments without penalty.
People's Choice CU Unsecured Personal Loan
From 13.99% (fixed)
1 to 7 years
An competitive unsecured personal loan available from $2,000.
BOQ Unsecured Fixed Personal Loan
9.99% (fixed)
1 to 7 years
$0 (Application fee waived for applications received until 25 February 2018)
Apply for up to $40,000 and have up to 7 years to repay your loan. Apply before 25 Feb 2018 for a $0 application fee. Conditions apply.
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
2 to 5 years
3% (of loan amount)
Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan.
IMB Unsecured Personal Loan
11.69% (fixed)
1 to 5 years
Enjoy no monthly fees and the option to make additional repayments. 11.69% p.a. rate available to all approved applicants.
Westpac Unsecured Personal Loan
From 12.99% (fixed)
1 to 7 years
Borrow up to $50,000 for a term of up to 7 years with the unsecured Loan from Westpac. Apply before 28 February 2018 for a 1% p.a. interest rate discount. Conditions apply.
Latitude Personal Loan (Unsecured)
From 13.99% (fixed)
2 to 7 years
$250 (Loans under $4000 - $140)
An unsecured loan designed for multiple purposes – renovating, buying a car or travelling. Funds can be in your account in as little as 24 hours.
St.George Unsecured Personal Loan - Fixed Rate
From 12.99% (fixed)
1 to 5 years
$0 (On new loan applications before 28th February 2018.)
Convenient redraw facility, flexible personal loan repayment options with a competitive interest rate. Apply before 28 Feb 2018 for a $0 application fee. Conditions apply.

Compare up to 4 providers

Compare the best personal loans* below

The three-step process to help you find the best personal loan*best personal loan

  • What do you need?

Decide why you're taking out the loan and what you need from it. For example, you might need the loan to buy furniture as well as a car and you want to be able to make additional repayments.

  • What is available?

Compare the types of loan you want to apply for. Personal loans can be secured or unsecured, can be taken out in the form of a line of credit or an overdraft facility, and you can get loans with fixed or variable rates. Compare different loan types according to their features and find one that offers you everything you need. Then, check the eligibility criteria to make sure you can apply for it.

  • What does the loan cost?

You need to find a loan you can afford. Check whether the loan charges a fixed or variable rate, look for upfront and ongoing fees and see how flexible the repayments are. Make sure the ongoing repayments will be affordable on your budget.

Once you've completed the third step, the only thing left to do is apply for the best personal loan that you've found*.

How you can compare the best personal loans* for your budget

When you want to apply for a personal loan you should first compare multiple offerings so you can track down the right product. Pay attention to the following aspects and you could enjoy considerable savings:

  • Is the best personal loan* for you a secured or unsecured loan?
    If you get a secured personal loan, you stand to lose the asset you’ve used as a guarantee in the event you have a problem making repayments. An unsecured personal loan, on the other hand, offers no such risk but attracts a higher interest rate.
  • What is the interest and comparison rate?
    Not all personal loans offer the same interest rate, so compare the personal loan interest rates of multiple loans before signing on the dotted line.
  • What are the fees and charges you'll be paying?
    Some personal loans attract prepayment penalties, late charges can vary from loan to loan, and some even require you to pay application fees. Comparing these extra costs is important when you’re trying to determine the true cost of the loan.
  • What will the term of your loan be?
    While a lower interest rate might seem promising at first, you should also compare loan terms. This is simply because the shorter the loan’s duration, the less you pay in the form of interest over the life of the loan.

Man comparing loans on laptop

The good and the bad of personal loans

  • Online applications are easy and can offer quick turnaround
    The application process is quick and the majority of lenders allow you to complete the whole process online. Some lender, including some major banks, offer same-day turnaround for personal loans.
  • Range of personal loans available
    You can choose from secured and unsecured personal loans as well as lines of credit, car loans and even peer-to-peer loans.
  • You can get access to a competitive interest rate
    If you compare interest rates of personal loans with credit card interest rates, you’ll see why people prefer personal loans over credit cards.
  • You may not be approved
    As some personal loans do not require any form of security, you can expect strict eligibility criteria. If you don’t have a good credit rating, your chances of approval are slim.
  • The loan purpose might be restrictive
    Depending on the type of personal loan you choose you may be restricted as to how you can use it.

Finding the best personal loan*

Many personal loans claim to be "the best", and that's just what Sam found when she set out trying to find one. She needed to purchase some furniture for her house and also finance a holiday she was planning to take. She wanted to borrow $7,000.

She had good credit and a full-time job and based on her salary of $50,000 p.a. (and her other expenses) she worked out she could comfortably afford repayments of $250 per month. She decides that an unsecured loan would best meet her needs as she wasn't purchasing an asset to attach it to nor did she own her own home.

As unsecured loans tend to have higher rates, she found one with minimal upfront and ongoing fees to help keep her costs down. She compared her options and found a loan with a comparison rate of 14.26% that she could repay in three years, making her repayments $241 a month. There was also no penalty for early repayment if she found herself able to repay it early.

What should I keep in mind when looking for the best personal loan*?

While personal loans are helpful in many scenarios, it’s in your best interest to avoid certain traps and pitfalls.

  • Read the fine print.
    Scrutinise all your options carefully right from the start and remember to look for ongoing account-keeping fees, early repayment fees and late payment fees. Read the terms and conditions document from start to finish.
  • Check the lender is licenced.
    There are a number of credit brokers and providers in Australia who operate illegally. If you wish to safeguard your interests it is best that you do your research to avoid these lenders.
  • Don't take on a loan you can't afford.
    When borrowing money it is always important to use a calculator to find out what your repayments will be. If you can comfortably afford a loan don't feel tempted to consider borrowing more in the even that you can't afford it.

What to do when you apply for the best personal loans*

Before you apply for a personal loan, establish how much you want to borrow and your monthly repayment ability. You should find out how long it might take for you to pay the loan off completely, remembering that you can usually choose between making weekly, fortnightly or monthly payments.

If you’re buying an asset such as a car you can apply for a secured loan, where the car acts as collateral, and you then have to choose between a fixed or a variable rate. You can use to compare personal loan rates, fees, charges and term periods of different personal loans. Once you find a loan you wish to apply for, proceed to the lender’s website by clicking "Go to Site".

Remember that lenders will want to ensure your ability to repay a loan before they lend you any money. As a result, they might want to take a look at your credit file and may also ask for copies of your payslips, details of other loans you have, credit card bills and bank account statements.

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Personal Loan Offers

Important Information*
Harmoney Unsecured Personal Loan

Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 29.99% p.a. based on credit history.

SocietyOne Unsecured Personal Loan

Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan.

NOW FINANCE Personal Loans

Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 16.95% p.a. depending on your credit score.

Westpac Unsecured Personal Loan

Borrow up to $50,000 for a term of up to 7 years with the unsecured Loan from Westpac. Apply before 28 February 2018 for a 1% p.a. interest rate discount. Conditions apply.

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55 Responses

  1. Default Gravatar
    December 15, 2017

    I have a small amount in a term deposit with a major bank and wonder if I would be eligible for a fast approval small amount to enable me to have a Christmas which is just not possible in my current situation

    • Staff
      RenchDecember 17, 2017Staff

      Hi Kelly,

      Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      If you’re in need of some extra money but don’t think you’ll be eligible for a standard personal loan, you still have options to consider. Lenders that offer “easy approval” look behind your salary and employment and just focus on your ability to afford the loan. Find out more about your options in this guide.

      Please click the name of your preferred lender to find out the details and the minimum eligibility. You may then click the green “Go to Site” button to submit your loan application online.

      Best regards,

  2. Default Gravatar
    MarkDecember 10, 2017

    I’m wishing to get a personal loan wanting to do some renovations to my house to upgrade the value of it. Any help would be appreciated.

    • Staff
      RenchDecember 12, 2017Staff

      Hi Mark,

      Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      You can also have a look on this page for helpful info and compare your options for
      Home Improvement & Renovation Loans. While on this page, you can make use of our personal loan calculators to give you an idea how much you can borrow and how your repayments will be.

      Please click the name of your preferred lender to find out the details and the minimum eligibility. You may then click the green “Go to Site” button to submit your loan application online.

      Hope this information helped.


  3. Default Gravatar
    JessicaNovember 8, 2017

    I’m wanting to get a loan for $10,000 and the “big” banks won’t help me because I had a quick cash loan but it was paid off last month with no dramas. I don’t have a bad credit rating and I’m not sure who I can go to for help?
    Thank you,

    • Staff
      JoanneNovember 8, 2017Staff

      Hi Jessica,

      Thanks for reaching out.

      The information on this page allows you to compare some personal loans you can choose from. You make click on “more” to get additional details about the loan offered.

      As each time one applies for a personal loan, the information shows up on the credit file, so multiple loan applications may not look good on the lenders. You may want to review this page as it will give you a guide on how you can narrow down your choices in terms of selecting a personal loan you can go for.


  4. Default Gravatar
    October 12, 2017

    Hi, I was wondering what would be the best personal loan for me to pay out my $4000 credit card and get a little extra on top. I pay $50 to $80 a week on it at the moment but I just keep using it and I want to get rid of it.

    • Staff
      RenchOctober 12, 2017Staff

      Hi Darren,

      Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      You can also have a look on this page for helpful tips and compare your options for personal loans for debt consolidation.

      Please click the name of your preferred lender to find out the details and the minimum eligibility. You may then click the green “Go to Site” button to submit your loan application online.

      Hope this helps.


  5. Default Gravatar
    LynetteAugust 29, 2017

    My mother and I are pensioners and would like advice on which bank/building society can help us with a personal loan of $25,000 over 5-8yr period asap.

    • Staff
      MariaAugust 29, 2017Staff

      Hey Lynette,

      Thank you for reaching out to us.

      You may find useful information on this page on Pensioner Loans which includes lenders that consider pensioners for a loan.

      As finder is an online comparison service and is not a product issuer, it would be best to get in touch with a lender featured on this page to discuss your eligibility or options.

      Before applying, please ensure that you meet the eligibility criteria and requirements and to read the details, as well as the relevant PDS/ T&Cs of the option before making a decision and consider whether the product is right for you.

      I hope this helps.


  6. Default Gravatar
    DeanJuly 4, 2017

    I want a personal loan. Please send me as much information as possible. Thank you!

    • Default Gravatar
      JonathanJuly 4, 2017

      Hi Dean!

      On the page where you’re at are the list of lenders we have available. Kindly choose among them based on your personal circumstances and eligibility preferences.

      You can click “Go to Site” green button to proceed with your application of your chosen lender. Specific questions should be raised to them.

      Hope this helps.


  7. Default Gravatar
    PhilMay 21, 2017

    I currently have 2 credit cards, 1 of $2000 and 1 of $8000.
    I’m currently paying $400 per month to these cards but the interest just eats most of it so im not really getting anywhere with them and i want them gone. I was considering applying for an interest free credit card to consolidate them and paying as much as i can for the interest free period, then getting an unsecured personal loan at the end of the interest free period at the lower then credit card interest rate. I’m part time for 20 hours per week and work a minimum of 32 hours, I net approx 700-800 per week. Does this sound like a good idea or am I going to give myself a headache and bad credit because from what I’ve heard interest free credit cards have a negative impact of your credit rating.

    • Staff
      LouMay 21, 2017Staff

      Hi Phil,

      Thanks for your question.

      Balance transfer is a good option for you if you are looking to save on interest payment on your credit card debt, and you can ensure that you’ll be able to repay all your debts within the promo period. Kindly note that after the balance transfer promo period, any remaining balance on your debt will attract a high rate of interest.

      In regards to your income, balance transfer credit cards have different income requirements. If you are looking for a credit card with low income requirement, you can compare your options here.

      Balance transfer may leave a positive effect on your credit rating. For more information, you can visit this page.

  8. Default Gravatar
    BrendaFebruary 26, 2017


    I have a bad credit from Origin Energy Electricity Ltd which I paid in full on the 6/12/16 of $330- ..paying extra to Origin to have it remove from my credit rating.
    Iam on DSP looking for a car loan $14700-00 found the car just need a LOAN pls..

    • Staff
      LouFebruary 27, 2017Staff

      Hi Brenda,

      Thanks for reaching out.

      If you are receiving Centrelink payments, the banks and short-term lenders on this page may consider you for a loan.

      Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision whether the product is right for you.


  9. Default Gravatar
    January 13, 2017

    I am in need of a fast cash loan but have bad credit. I won’t get paid till next week. I need about 600 dollars. Can anyone find something?

    • Staff
      JasonJanuary 14, 2017Staff

      Hi John,

      Thank you for your enquiry.

      Please check out this link for lenders who offers bad credit payday loans options. Alternatively, you can check out the lenders in this link for payday loan options with no credit check.

      I hope this helps.

      Kind regards,

  10. Staff
    ElizabethOctober 25, 2016Staff

    Hi Gary,

    You can compare interest rates for used car loans on this page. If you click on the name of any loan you’re interested in you can see a review page which will list the documents required to apply.

    I hope this helps,


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