There's a way you can get the best personal loan* – it's as easy as 1, 2, 3...
Citi Personal Loan Plus
Citi Personal Loan Plus
from
variable rate
from
comparison rate
- Loan amounts from $5,000
- Offers a reusable credit facility
- Repay over 5 years
100% confidential application
Citi Personal Loan Plus
Apply for a Citi Personal Loan Plus and get competitive interest rate offer with a reusable credit facility.
- Interest rate from: 11.99% p.a.
- Comparison rate: 12.48% p.a.
- Interest rate type: Variable
- Application fee: $0
- Minimum loan amount: $5,000
- Maximum loan amount: $75,000
Compare a range of personal loans
Disclaimer and warning about borrowing
- No loans offered with repayment in full due in 60 days or less
- Interest rates range between 5.3% p.a. and 9.92% p.a.
- A representative example is expressed in the table above with all fees and charges payable in the Monthly Repayment column with the representative APR expressed in the comparison rate column.
* The personal loan offers compared on this page are chosen from a range of personal loans finder.com.au has access to track details from and is not representative of all the products available for comparison in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing personal loans.
Some of 2017's best* personal loans comparisons
Compare the features of some of the best* personal loans
| Personal Loan | Interest Rate | Comparison Rate |
|---|---|---|
| HSBC Personal Loan | 9.5% p.a. | 10.06% p.a. |
| 10.99% p.a. | 11.87% p.a. | |
| 10.99% p.a. | 10.99% p.a. | |
| 7.9% p.a. | 9.92% p.a. |
The three-step process to help you find the 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:
- Do you want 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 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.
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?
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 finder.com.au to compare interest 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.
I want a personal loan. Please send me as much information as possible. Thank you!
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.
Cheers,
Jonathan
Hi
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.
Cheers
Phil
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.
Hello
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..
Cheers
Brenda
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.
Cheers,
Anndy
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?
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,
Jason
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,
Elizabeth
I wanted to know which bank offers a redraw on their loans! And how many of them require more than two months of statements?
Hi Steven,
You can click through to the review page of each loan to find out whether a redraw is offered – click on the name of the lender to access the review page. The majority of lenders will require at least three months of payslips to be eligible for a loan.
I hope this helps,
Elizabeth
hi,im looking at applying for a personal loan for up to $45,000-$50,000,so i can pay off my car finance and a $5000 prrsonal.my question is,what are my chances of getting a loan even though im a casual?i earn good money,and have been a casual worker for 2 years.
Hi Ed,
Thanks for your question,
I can’t really comment on your chances with lenders as it will depend on your entire financial situation rather than just your employment situation. Your current debts (personal loan) will be taken into account, as will your current income and the stability of your finances (your bank statements may be checked and your employer may be called).
You can find out more about borrowing in your situation on this page.
I hope this helps,
Elizabeth
Hi my name is hamad and i am an international student studying in australia. I would like to have a loan for $10,000 for a car and other necessities. I have 3 years left in my visa. My salary is $3,900. Is there any place that can provide me with this loan. Thank you.
Hi Hamad,
You can find out some of your options for temporary resident loans on this page.
Hope this helps,
Elizabeth
Hi there, I need to borrow about $8000-$9500 for a car and bond for a house. I work full time but I get paid in cash for the time being. I have payslips from the time I started working here which was 11 months ago. I’m new to this and need a lot of help. Before tax I get $850 weekly after tax I get roughly $720. I have no expenses as I’m living with parents only board which is $130 weekly. Any advice or recommendation would be muchly appreciated thank you.
Hi Keziah,
Thanks for your question.
Lenders have different requirements in terms of eligibility and how they can approve your for a loan – you will usually need to provide documents to prove your income, so payslips will suffice, but you may also need bank statements as well as 100 points of ID and various information about your financial situation, such as your income, employment details, assets, etc.
You can find out what is required for each lender by clicking through the review page on finder.com.au (clicking on the name of the lender) and you can confirm this when you go to apply.
As you’re looking to buy a car and to borrow funds for bond, you may want to consider an unsecured personal loan.
Hope this information has helped,
Elizabeth
I need help for a short team loans. But all my income normally was going though my gf acc or by cash , how I can proof my I got full time job? Need loans asap.thx for help me
Hi Zhenyufan,
The majority of lenders will need to see three months of banking history where your income was going into in order to verify it. You can click through to the lenders on this page and find out what documentation is required to be approved. You may also have more luck applying at a lender that has a physical branch, so you can bring in your payslips and verify your income that way.
Hope this has helped,
Elizabeth