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The best personal loans that don’t suck

We've crunched the numbers on 200 options to try help you make debt a little better.

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

Top pick for Non-bank loan

OurMoneyMarket Unsecured Low-Rate Personal Loan

Int. rate 6.57% to 18.99%
Comp. rate 7.19% to 21.78%
Min. Loan Amount $2,001
Max. Loan Amount $75,000
Int. rate 6.57% to 18.99%
Min. Loan Amount $2,001
Comp. rate 7.19% to 21.78%
Max. Loan Amount $75,000
Finder Award

Summary

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.

Pros

  • Competitive interest rates
  • No ongoing fees
  • No penalties for additional payments

Cons

  • Late payment fee of $35
  • Direct debit dishonour fee of $25

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 Low interest loan

NOW Finance No Fee Unsecured Personal Loan

Int. rate 6.75% to 26.95%
Comp. rate 6.75% to 26.95%
Min. Loan Amount $5,000
Max. Loan Amount $50,000
Int. rate 6.75% to 26.95%
Min. Loan Amount $5,000
Comp. rate 6.75% to 26.95%
Max. Loan Amount $50,000
Finder Award

Summary

An unsecured personal loan with personalised interest rates and a fast application process. There are no fees, flexible repayment options and you can pay out the loan early with no penalty.

Pros

  • No security is required
  • Use the loan on any worthwhile purchase
  • Fast application

Cons

  • Interest rates may be high if you have a low credit score

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 Good credit

Harmoney Unsecured Personal Loan

Int. rate 5.76% to 24.03%
Comp. rate 6.55% to 24.98%
Min. Loan Amount $2,000
Max. Loan Amount $70,000
Int. rate 5.76% to 24.03%
Min. Loan Amount $2,000
Comp. rate 6.55% to 24.98%
Max. Loan Amount $70,000
Finder Award

Summary

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.

Pros

  • Tailored, competitive rates
  • Apply for up to $70,000
  • No security required

Cons

  • Restrictive repayment terms
  • $275/$575 upfront fee

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.

Top pick for Bank loan

ING Personal Loan

Int. rate 6.89% to 18.99%
Comp. rate 7.10% to 19.23%
Min. Loan Amount $5,000
Max. Loan Amount $60,000
Int. rate 6.89% to 18.99%
Min. Loan Amount $5,000
Comp. rate 7.10% to 19.23%
Max. Loan Amount $60,000
Finder Award

Summary

The ING Personal Loan offers the stability of a fixed rate with flexible repayment options.

Pros

  • No annual or monthly fees
  • No penalties for additional payments
  • Flexible repayment options

Cons

  • Late payment fee of $20
  • Once set, can't extend the loan term

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 loan

Latitude Variable Rate Personal Loan

Int. rate 9.49% to 29.99%
Comp. rate 10.37% to 30.69%
Min. Loan Amount $5,000
Max. Loan Amount $70,000
Int. rate 9.49% to 29.99%
Min. Loan Amount $5,000
Comp. rate 10.37% to 30.69%
Max. Loan Amount $70,000

Summary

Apply Latitude Personal Loan for what you need from $5,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly.

Pros

  • Tailored interest rate
  • Low minimum borrowing amount
  • Secured or unsecured

Cons

  • $13 monthly fee
  • Early repayment fees may be charged
  • Application fee of $0

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.

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.

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

How do I find the best personal loan for me?

The best personal loan depends on your circumstances: there’s no one size fits all. Particularly as your rate will be different depending on things like income and credit score.

Here are some things to look out for to get the best loan for you.

Interest rate and comparison rate

Interest and comparison rate

Lenders advertise a minimum interest rate and a maximum interest rate. They’ll decide your rate based on your financial situation and while this depends on a couple of things, you can check your credit score to give yourself a rough idea of where you will sit in their interest rate range.

You should also look at the comparison rate to see how the rate changes when you incorporate fees. 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

Not a must, but repaying your personal loan early means you pay less in interest. So, that’s pretty nice. Some loans that allow early repayment have fees attached, 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

Personal loans can offer special deals which range from waived fees to a discounted interest rate or cashback. These could save you hundreds if not thousands of dollars depending on the loan.

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.

Comparing interest rates to find the best personal loan

To see how the interest rate can affect your repayments, we looked at 2 loans with the same loan amount and loan term.

Loan amount: $30,000

Loan term: 5 years

Loan ALoan B
Interest rate8.00%9.00%
Monthly repayment$609$623
Total repayment$36,498$37,366
Interest paid$6,498$7,366

By paying 1% more on this loan, you’d pay $868 more in interest.

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.

Explore more options to find the best personal loan for you

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1 - 8 of 194
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
OurMoneyMarket Unsecured Low-Rate Personal Loan
OurMoneyMarket logo
Finder award winnerFixed1 - 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
NOW Finance logo
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
Harmoney logo
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
NAB Personal Loan Unsecured Fixed
NAB logo
Fixed1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
8.49%
to 20.49%
Comp. Rate (p.a.)
9.54%
to 21.49%
Application Fee
$250
Monthly Fee
$10
Monthly Repayment
$649.15
Go to siteMore Info
OurMoneyMarket Secured Personal Loan
OurMoneyMarket logo
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
ING logo
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
NAB Personal Loan Unsecured Variable Rate
NAB logo
Variable1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
8.49%
to 20.49%
Comp. Rate (p.a.)
9.54%
to 21.49%
Application Fee
$250
Monthly Fee
$10
Monthly Repayment
$649.15
Go to siteMore Info
Jacaranda Finance Express Personal Loan
Jacaranda Finance logo
Fixed25 Months - 4 Years $3,000 - $25,000
Interest Rate (p.a.)
14.95%
to 27.95%
Comp. Rate (p.a.)
29.30%
to 42.80%
Application Fee
$130 - $990
Monthly Fee
$24
Monthly Repayment
$751.11
Go to siteMore Info
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FAQs

Why compare personal loans with Finder?

freeYou pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.
expert adviceYou save time. We spend 100s of hours researching personal loans so you can sort the gold from the junk faster.
independentYou compare more. Our comparison tools bring you more personal loans from across the market.
Richard Whitten's headshot
To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten as part of our fact-checking process.
Rebecca Pike's headshot
Written by

Senior writer

Rebecca Pike is Finder's senior writer for money. She joined Finder after almost four years writing for business publications in the mortgage and finance industry, including three years as editor of Mortgage Professional Australia. She regularly appears as a money expert on programs like Sunrise and Today, as well as across radio and newspapers. She also holds ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products. See full bio

Rebecca's expertise
Rebecca has written 187 Finder guides across topics including:
  • Home loans
  • Cost of living
  • Budgeting

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. 

      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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