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Best personal loans Australia

We looked at the rates, fees & features of over 200 personal loans to give you our top picks for April 2024

Finding the best personal loan

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.

Why you can trust our research

200

personal loans analysed

105

lenders included

9

years of experience

319,000

Australians who found a better personal loan

Finder's picks for the best personal loans for April 2024:

The best personal loans picks were chosen by our personal loan experts and approved by our lead publisher for money, Alanna Glenn for January 2024.

Top pick for Low interest loan
NOW Finance No Fee Unsecured Personal Loan

6.75% to 26.95%
interest rate
6.75% to 26.95%
comp rate
  • No security is required
  • Use the loan on any worthwhile purchase
  • Fast application
  • Interest rates may be high if you have a low credit score
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

  • Low rate. Right now, NOW Finance ranks among the lowest rates in our database, especially for a general use loan. Based on an 'Excellent' credit score, its rate is lower than 90% of loans in our database.
  • No fees. No fees at all make this an easy loan to slot into your budget, which makes it suitable for things like debt consolidation where many borrowers want their loan to be as straight forward as possible.
  • Finder Award winner. NOW Finance took first place in the 2023 Finder Personal Loan Awards for its simplicity and consistently low rates.

Top pick for Non-bank loan
OurMoneyMarket Personal Loan

6.57% to 18.99%
interest rate
7.19% to 21.78%
comp rate
A loan for any worthwhile purchase of up to $75,000, such as for a car, equipment, and even debt consolidation. Your interest rate will be based on your credit history. Pre-approval available.
  • Competitive interest rates
  • No ongoing fees
  • No penalties for additional payments
  • Late payment fee of $35
  • Direct debit dishonour fee of $25
Interest Rate (p.a.) 6.57% to 18.99%
Comp. Rate (p.a.) 7.19% 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

  • Flexibility of a non-bank. OurMoneyMarket gives you the exact same consumer protection you'd get from a bank loan, but as a non-bank lender they can be more flexible around things like eligibility criteria and interest rates.
  • Competitive rate. OurMoneyMarket has a very competitive rate, especially for a fixed rate loan. It ranks in the top 10% of lowest rate loans in Finder's database for 'Excellent' credit.
  • No early repayment fees. Paying off your loan early minimises the amount of interest you pay, saving you money over the lifetime of your loan. It's a bonus to be able to do so without paying a fee.

Top pick for Bank loan
ING Personal Loan

6.89% to 18.99%
interest rate
7.10% to 19.23%
comp rate
The ING Personal Loan offers the stability of a fixed rate with flexible repayment options.
  • No annual or monthly fees
  • No penalties for additional payments
  • Flexible repayment options
  • Late payment fee of $20
  • Once set, can't extend the loan term
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

  • Low fixed rate. Not only is the rate fixed, but it’s among the cheapest 10% of loans in the Finder database. Tip: You can avoid the $150 establishment fee by signing up for an Orange Everyday account.
  • Finder Award runner-up. ING was a close second place in the 2023 Finder Personal Loan Awards for its low rates and quick access to funds.
  • Global brand. ING is one of the largest banks in the world and sits within the top 30 global banks. It has a whole range of financial products, and you can often get discounts or deals if you’re an existing customer for other products.

Top pick for Quick Loans
Latitude Variable Rate Personal Loan

9.49% to 29.99%
interest rate
10.37% to 30.69%
comp rate
Apply Latitude Personal Loan for what you need from $5,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly.
  • Tailored interest rate
  • Low minimum borrowing amount
  • Secured or unsecured
  • $13 monthly fee
  • Early repayment fees may be charged
  • Application fee of $0
Interest Rate (p.a.) 9.49% to 29.99%
Comp. Rate (p.a.) 10.37% to 30.69%
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

  • Fast turnaround. Latitude will provide you with a quote within 2 minutes. It then takes under 7 minutes to apply and if you’re approved, you can get the funds within 24 hours of when you accept.
  • Choice to secure. While this is an unsecured loan, you have the option to secure it. This could improve your chance of approval, or even get you a lower rate.
  • No early repayment fee. You can make extra repayments with this loan, and even pay it off fully before the agreed term. This can save you a lot of money if you have the extra cash.

Top pick for Good credit
Harmoney Unsecured Personal Loan

5.76% to 24.03%
interest rate
6.55% to 24.98%
comp rate
An unsecured personal loan up to $70,000. You'll receive a tailored interest rate between 5.76% p.a. and 24.03% p.a. based on your risk profile.
  • Tailored, competitive rates
  • Apply for up to $70,000
  • No security required
  • Restrictive repayment terms
  • $275/$575 upfront fee
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

  • Low rate for strong credit scores. Harmoney’s lowest advertised rate is very competitive and is lower than 90% of the loans in Finder’s database. So, the better your credit score, the more likely you’ll be quoted a low rate.
  • Wide borrowing amounts. You can borrow as little as $2,000 with this loan, and go as high as $70,000.
  • No early repayment fees. If you can afford to make extra repayments, then you could save even more on interest as Harmoney do not charge fees for paying off your loan early.

Methodology: How we chose our Top Picks

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.

What's the best personal loan in Australia?

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.

How do I find the best personal loan for me?

Interest rate and comparison rate
Interest and comparison rate

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.

Secured or unsecured
Secured or unsecured

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.

how much do you want to borrow
Borrowing amounts

Quite simply, can you borrow the amount you need? In general, higher borrowing amounts have stricter eligibility criteria.

Repay your loan early
Early repayment options

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.

Look for special deals
Special deals

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.

Brand new to personal loans?

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.

Explore more options to find the best personal loan for you

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1 - 11 of 194
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
OurMoneyMarket Personal Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
1.50% - 6%
min. $250
Monthly Fee
$0
Monthly Repayment
$627.42
Go to siteMore Info
NOW Finance No Fee Unsecured Personal Loan
Finder award winnerFixed18 Months - 7 Years $5,000 - $50,000
Interest Rate (p.a.)
6.75%
to 26.95%
Comp. Rate (p.a.)
6.75%
to 26.95%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$615.26
Go to siteMore Info
Harmoney Unsecured Personal Loan
Finder award winnerFixed3 - 7 Years $2,000 - $70,000
Interest Rate (p.a.)
5.76%
to 24.03%
Comp. Rate (p.a.)
6.55%
to 24.98%
Application Fee
$275 - $575
Monthly Fee
$0
Monthly Repayment
$623.70
Go to siteMore Info
Latitude Variable Rate Personal Loan
Variable2 - 7 Years $5,000 - $70,000
Interest Rate (p.a.)
9.49%
to 29.99%
Comp. Rate (p.a.)
10.37%
to 30.69%
Application Fee
$0
Monthly Fee
$13
Monthly Repayment
$653.57
Go to siteMore Info
Special Finder offer: $395 establishment fee waived for approved personal loan applications submitted through Finder. Latitude may withdraw offer at any time. T&Cs apply.
OurMoneyMarket Secured Personal Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
1.50% - 6%
min. $250
Monthly Fee
$0
Monthly Repayment
$627.42
Go to siteMore Info
ING Personal Loan
Finder award winnerFixed2 - 7 Years $5,000 - $60,000
Interest Rate (p.a.)
6.89%
to 18.99%
Comp. Rate (p.a.)
7.10%
to 19.23%
Application Fee
$150
Monthly Fee
$0
Monthly Repayment
$621.16
Go to siteMore Info
Pepper Money No Fee Unsecured Personal Loan
Finder award winnerFixed18 Months - 7 Years $5,000 - $50,000
Interest Rate (p.a.)
6.75%
to 26.95%
Comp. Rate (p.a.)
6.75%
to 26.95%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$615.26
Go to siteMore Info
Citi Personal Loan Plus
Variable3 - 5 Years $2,000 - $55,000
Interest Rate (p.a.)
10.90%
Comp. Rate (p.a.)
11.19%
Application Fee
$199
Monthly Fee
$10
Monthly Repayment
$670.33
Go to siteMore Info
Special Offer: Monthly Fee of $10 waived for applications submitted before 30 June 2024.
NAB Personal Loan Unsecured Fixed
Fixed1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
6.99%
to 20.49%
Comp. Rate (p.a.)
7.91%
to 21.33%
Application Fee
$150
Monthly Fee
$10
Monthly Repayment
$632.08
Go to siteMore Info
NAB Personal Loan Unsecured Variable Rate
Variable1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
6.99%
to 20.49%
Comp. Rate (p.a.)
7.91%
to 21.33%
Application Fee
$150
Monthly Fee
$10
Monthly Repayment
$632.08
Go to siteMore Info
Jacaranda Finance Express Personal Loan
Fixed2 - 4 Years $5,000 - $25,000
Interest Rate (p.a.)
14.95%
to 27.95%
Comp. Rate (p.a.)
29.30%
to 42.80%
Application Fee
$475 - $990
Monthly Fee
$24
Monthly Repayment
$751.11
Go to siteMore Info
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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.

FAQs

Why compare personal loans with Finder?

free

We're free

Our personal loan comparison is completely free to use. There are no costs at all for you to use our database to find a better deal. Better still, we regularly run exclusive deals that you won't find on any other site.
expert advice

We're experts

We've researched and reviewed hundreds of loans as part of our Finder Awards. Our database and tables are always up-to-date and our in-house experts regularly appear on Sunrise, 7News and SBS News.
independent

We're independent

We are independently owned and have a mission to help Australians make better financial decisions. That means our opinions are our own and you can compare nearly every personal loan in Australia (and find a better deal).
help

We're here to help

Since 2014, we've helped 300,000+ people find a personal loan by explaining your options simply. You don't need to give us any details to use our comparison. We're here to help you make a decision.

More guides on Finder

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69 Responses

    Default Gravatar
    BradMarch 14, 2019

    Hi,
    I am wanting to consolidate my current loans of about $75000. Who would be the best and cheapest for this?

      Default Gravatar
      NikkiMarch 15, 2019

      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

    Default Gravatar
    KatieFebruary 19, 2019

    I currently own my own home. There’s no mortgage. I was wondering about using it for a loan. How to go about it?

      AvatarFinder
      JoshuaFebruary 21, 2019Finder

      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

    Default Gravatar
    LeonardoNovember 15, 2018

    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?

      AvatarFinder
      JohnNovember 20, 2018Finder

      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

    Default Gravatar
    MatNovember 14, 2018

    Hi there I’m looking for a personal loan to finalise a separation /divorce any ideas would be helpful. Thanks

      Default Gravatar
      NikkiNovember 15, 2018

      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

    Default Gravatar
    LeighOctober 15, 2018

    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!

      AvatarFinder
      JhezelynOctober 16, 2018Finder

      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. 

      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

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