Low interest loan

to 26.95%
to 26.95%
Our personal loan experts have analysed hundreds of Australia's biggest and smallest personal loans and lenders to help you save money. We've looked at everything from fees to features, and of course interest rates. Compare with us to find the best personal loan for you, and check back for any exclusive deals to save even more.
200
personal loans analysed
105
lenders included
9
years of experience
319,000
Australians who found a better personal loan
The best personal loans picks were chosen by our personal loan experts and approved by our lead publisher for money, Alanna Glenn for November 2023.
Top pick for Low interest loan
NOW Finance No Fee Unsecured Personal Loan
interest rate
comp rate
Interest Rate (p.a.)
6.75% to 26.95%
Comp. Rate (p.a.)
6.75% to 26.95%
Interest Rate Type
Fixed
Min. Loan Amount
$5,000
Max. Loan Amount
$50,000
Min. Loan Term
18 months
Max. Loan Term
84 months
Loan Security
Unsecured
What we like about the NOW Finance Unsecured Personal Loan
Top pick for Non-bank loan
OurMoneyMarket Personal Loan - Excellent Credit
interest rate
comp rate
Interest Rate (p.a.)
6.57% to 18.99%
Comp. Rate (p.a.)
6.57% to 21.78%
Interest Rate Type
Fixed
Min. Loan Amount
$2,001
Max. Loan Amount
$75,000
Min. Loan Term
12 months
Max. Loan Term
84 months
Loan Security
Unsecured
What we like about the OurMoneyMarket Personal Loan
Top pick for Bank loan
ING Personal Loan
interest rate
comp rate
Interest Rate (p.a.)
6.89% to 18.99%
Comp. Rate (p.a.)
7.10% to 19.23%
Interest Rate Type
Fixed
Min. Loan Amount
$5,000
Max. Loan Amount
$60,000
Min. Loan Term
24 months
Max. Loan Term
84 months
Loan Security
Unsecured
What we like about the ING Unsecured Personal Loan
Top pick for Quick Loans
Latitude Variable Rate Personal Loan
interest rate
comp rate
Interest Rate (p.a.)
9.49% to 29.99%
Comp. Rate (p.a.)
10.93% to 31.83%
Interest Rate Type
Variable
Min. Loan Amount
$5,000
Max. Loan Amount
$70,000
Min. Loan Term
24 months
Max. Loan Term
84 months
Loan Security
Secured or Unsecured
What we like about the Latitude Variable Rate Personal Loan
Top pick for Good credit
Harmoney Unsecured Personal Loan
interest rate
comp rate
Interest Rate (p.a.)
5.76% to 24.03%
Comp. Rate (p.a.)
6.55% to 24.98%
Interest Rate Type
Fixed
Min. Loan Amount
$2,000
Max. Loan Amount
$70,000
Min. Loan Term
36 months
Max. Loan Term
84 months
Loan Security
Unsecured
What we like about the Harmoney Unsecured Personal Loan
We analysed our database of over 200 loans, and filtered out loans that were members-only or secured in niche ways (such as by term deposits). This left us with a pool of accessible loans, which we further filtered based on interest rates, fees, and availability through Finder. In the case of a tie or a close call, we factored in features such as redraw facilities.
While we are confident that our top picks are competitive personal loans, keep in mind that there is no one-size-fits-all loan or lender. Your personal situation and preferences will determine what the best personal loan for you will be.
There's no single 'best' loan in Australia. Most lenders use risk-based pricing, where they will advertise a minimum and a maximum interest rate and offer you a rate based on their internal criteria.
Lenders look at several things to determine your rate, but you can check your credit score to give yourself a rough idea of where you will sit in their interest rate range.
The type of lender is also something to consider. Some borrowers prefer banks so they can take advantage of other financial products like savings accounts. Other borrowers prefer online lenders for their broader eligibility criteria. It really comes down to your credit history and what your needs are.
The comparison rate is a good tool towards finding the best loan for you, however it is usually based on a $30,000 loan over 5 years. If your plans are different, use a personal loan calculator to get a sense of how much a loan will cost you.
Securing your loan could get you a lower rate or increase the odds that you'll be approved for a personal loan. However, you will need to put up an asset (like your vehicle) as collateral, so ensure you can comfortably repay the loan to avoid the risk of repossession.
Quite simply, can you borrow the amount you need? In general, higher borrowing amounts have stricter eligibility criteria.
It's nice to have the option to pay off your loan early, or to make extra repayments, since the more you pay off your principal, the less you pay in interest. Some loans have fees attached to this, so make sure you're saving more than you're spending or opt for a loan with free early/extra repayments.
Sometimes personal loans offer limited time promotions. These can range from waived fees to a discounted interest rate or cashback, and could save you hundreds if not thousands of dollars depending on the loan. Finder often has exclusive offers with certain providers so be sure to check our tables for great deals.
We get that personal loans can get a bit complicated, so we've done our best to simplify things on our personal loans hub. You can find a more complete list of features, as well as more tips over there.
Finding a loan that's even 1% cheaper can save you hundreds of dollars. You can save even more if you can afford some extra repayments early on, just watch out for any early repayment fees.
Graham Cooke
Finder's head of consumer research
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Hi,
I am wanting to consolidate my current loans of about $75000. Who would be the best and cheapest for this?
Hi Brad,
Thanks for getting in touch!
You may refer to our list of debt consolidation loans. Our guide will guide you on what steps to take in getting this type of loan. You can use our comparison table to help you find the lender that suits you. When you are ready, press the ‘Go to site’ button to apply.
As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Best,
Nikki
I currently own my own home. There’s no mortgage. I was wondering about using it for a loan. How to go about it?
Hi Katie,
Thanks for getting in touch with Finder. I hope all is well with you. :)
Yes, you can use your home to apply for a secured personal loan. You can use your home as a security to increase your chance of getting approved for a loan and even borrowing for a bigger amount of money.
Press the link above to see a table that allows you to conveniently compare secured personal loans. You can compare based on the interest rate, loan term, and loan amount, to name a few. Once you’re done comparing your options, click on the “Go to site” green button to learn more or initiate your application.
I hope this helps. Should you have further questions, please don’t hesitate to reach out again.
Have a wonderful day!
Cheers,
Joshua
I would like to know if i can have a loan for a small amount, i have a working visa and im just 3 months working, so im basically starting up everything. Anyone can help?
Hi Leonardo,
Thank you for reaching out to Finder.
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.
You may refer to our list of loans for non-residents. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have. Hope this helps!
Cheers,
Reggie
Hi there I’m looking for a personal loan to finalise a separation /divorce any ideas would be helpful. Thanks
Hi Mat,
Thanks for getting in touch. You can find the lender for your personal needs on the list above. As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the product disclosure statement of the product and contact the lender should you need any clarifications on the loan.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Best,
Nikki
I started an online personal loan application with Harmoney, but withdrew the application when they asked for my banking client number and password. This is not acceptable and does not seem right to me. You need to followup on this!
Hello Leigh,
Thank you for your comment.
With regard to your online banking login being asked when you apply for a loan, there are actually pay-day loan lenders that do that. Nevertheless, please know that they will not have access to your bank account and neither will the third-party service like finder that facilitates the sending of read-only copies of your bank statements. Lenders will also not store your login details and generally, this process is encrypted and secure through their site.Â
Learn more on why lenders ask for internet banking details.
Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.
Regards,
Jhezelyn