Pros Cons This personal loan doesn't have any upfront or ongoing fees, saving more of your money for paying off the loan. It also allows you to borrow money without risking an asset as security, with flexible repayment frequency options and free early repayment.
Top pick for unsecured loan
NOW Finance No Fee Unsecured Personal Loan
Int. rate
5.95% to
26.95%
Comp. rate
5.95% to
26.95%
Min. Loan Amount
$5,000
Max. Loan Amount
$50,000
Int. rate
5.95% to
26.95%
Min. Loan Amount
$5,000
Finder Award
Comp. rate
5.95% to
26.95%
Max. Loan Amount
$50,000
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.
What we like about the NOW Finance No Fee Unsecured Personal Loan
Pros Cons Now Finance's competitive rates and no fees gives this product an excellent credit score as well as a great offering to customers. There's also a fast application process and access to your own personal advisor to talk you through your loan.
Top pick for secured loan
NOW Finance Secured Personal Loan
Int. rate
5.95% to
21.65%
Comp. rate
5.95% to
21.65%
Min. Loan Amount
$15,000
Max. Loan Amount
$100,000
Int. rate
5.95% to
21.65%
Min. Loan Amount
$15,000
Finder Award
Comp. rate
5.95% to
21.65%
Max. Loan Amount
$100,000
Summary
A risk-based personal loan that comes with no monthly fees, establishment fees, or early repayment fees. Suitable for any worthwhile purchase and has both secured and unsecured options.
What we like about the NOW Finance Secured Personal Loan
Pros Cons This personal loan has a very high Finder score of 9.9 and that's because it offers a mix of competitive rates, no ongoing fees and no costs or penalties for additional repayments.
Top pick for fixed loan
OurMoneyMarket Unsecured Low-Rate Personal Loan ($5,000-$100,000)
Int. rate
5.95% to
18.99%
Comp. rate
5.95% to
21.78%
Min. Loan Amount
$5,000
Max. Loan Amount
$100,000
Int. rate
5.95% to
18.99%
Min. Loan Amount
$5,000
Comp. rate
5.95% to
21.78%
Max. Loan Amount
$100,000
Summary
A loan for any worthwhile purchase of up to $100,000, such as for a car, equipment, and even debt consolidation. Your interest rate will be based on your credit history. Pre-approval available.
What we like about the OurMoneyMarket Unsecured Low-Rate Personal Loan
Pros Cons With another strong Finder Score, this loan is the most cost effective variable rate personal loan on the market. It offers a loan term of up to 10 years, as well as flexible repayments and access to a redraw facility.
Top pick for variable loan
Dnister Ukrainian Credit Co-operative Premier Personal Loan
Int. rate
7.52%
Comp. rate
8.20%
Min. Loan Amount
$5,000
Max. Loan Amount
$50,000
Int. rate
7.52%
Min. Loan Amount
$5,000
Comp. rate
8.20%
Max. Loan Amount
$50,000
Summary
What we like about the Dnister Ukrainian Credit Co-operative Premier Personal Loan
Pros Cons The Gateway Eco Personal Loan has a Finder Score to rival all other personal loans, scoring an excellent 9.9. Proving that it continues to offer a top product all year round, this loan was highly commended in Finder's 2025 product awards. Other reasons we like this loan are because there are no ongoing fees, you can make extra repayments without penalty and you can manage your loan via a simple app.
Top pick for green loan
Gateway Bank Eco Personal Loan
Int. rate
6.44%
Comp. rate
7.45%
Min. Loan Amount
$3,000
Max. Loan Amount
$30,000
Int. rate
6.44%
Min. Loan Amount
$3,000
Comp. rate
7.45%
Max. Loan Amount
$30,000
Summary
What we like about the Gateway Eco Personal Loan
Pros Cons The Greater Bank Secured Personal Loan comes with no ongoing fees and the ability to repay the loan early without penalty. Greater Bank also offers fast turnarounds of 24 hours.
Top pick for bank loan
Greater Bank Secured Personal Loan
Int. rate
6.78%
Comp. rate
7.17%
Min. Loan Amount
$5,000
Max. Loan Amount
$100,000
Int. rate
6.78%
Min. Loan Amount
$5,000
Comp. rate
7.17%
Max. Loan Amount
$100,000
Summary
Borrow up to $100,000 and repay this secured loan with a fixed interest rate of 6.78% p.a. over a period of 1 to 7 years.
What we like about the Greater Bank Secured 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.
We asked hundreds of Australians to rate their personal loan lenders on factors like customer service, features and benefits, ease of application, fees and interest rate, and trustworthiness. Here are the results.
| Bank | Overall satisfaction | Recommended |
|---|---|---|
 | ★★★★★ 4.4/5 | 99% |
 | ★★★★★ 4.2/5 | 88% |
 | ★★★★★ 4.1/5 | 85% |
 | ★★★★★ 4.1/5 | 81% |
 | ★★★★★ 4.1/5 | 88% |
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.
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.
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.
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.
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."
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 A | Loan B | |
|---|---|---|
| Interest rate | 8.00% | 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.
We currently don't have that product, but here are others to consider:
How we picked these
Are secured personal loans better than unsecured personal loans and how do they work?
Personal loans offer a range of loan amounts to suit different purposes and budgets. Here's how to get the loan amount you need.
If you're wanting to bolster your application, buy an asset with your partner or apply for a loan you're not eligible for by yourself, you can consider a joint application personal loan.
Temporary Australian residents may be eligible to apply for personal loans, depending on the visa they hold.
Not all personal loans come with endless documentation. Some lenders specialise in quick and easy application processes.
Compare unsecured personal loans from some of Australia's top lenders. Find the best deal on rates, fees and features in seconds.
Use a personal loan calculator to work out your repayments or compare loans with a comparison calculator.
We’ve written about fixed rate personal loans and what their advantages are.
Find a low interest loan by comparing your options with Finder. See interest rates, fees, and features for loans across Australia, plus guides to help you get the best deal.
Find out exactly what you need to know when it comes to cheap personal loans, including working out if a loan is really competitive.
Hi I am wanting to know if I have an income of $20000, per year, am I eligible for a loan of $30000 over 5 – 7 years, no other debts, or financial outgoings come out of my wage, i am also perm p/t, thank you
Hi Renee,
Thanks for your question.
Please note that finder.com.au is an online comparison and information service and is not a product issuer. Therefore, we can’t comment on eligibility.
If you would like to discuss your eligibility or options regarding your loan amount, please get in touch with a lender featured on this page.
Cheers,
Shirley
i have $ 26000 debt on my credit card and $25000 pof personal loan.
i want one repayment
how could you help
Hi Helia,
Thanks for your question.
You may want to compare a range of debt consolidation personal loans.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
Cheers,
Shirley
how do you consolidate loans to roll into one so you only have one loan payment. i have a personal loan and also a credit card i want to roll into one.
i also would like to know how to get a loan to payout my other loans such as personal an credit card as I’m paying to much interest each month
Hi David,
Thanks for your question.
The process involves being approved for a debt consolidation loan to pay out your existing debts. After you have paid off the balance in full, you can close your old accounts while you start paying off your new loan.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
Cheers,
Shirley
i am only on a centerlink benefit can I apply for a 1,000 loan
Hi Brenda,
Thanks for your question.
Generally, you can not be receiving Centrelink benefits as your primary source of income to be eligible for most loans. Short-term lenders, banks, and credit unions might be able to help. Government and community financial assistance schemes are also available. Here’s your loan options if you receive Centrelink. You should be able to check which lenders do by checking the table found on the page.
You can press the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then press on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Cheers,
Shirley
I want to pay out a finance company
Hi Debbie,
Thanks for your question.
You’re able to do this with a debt consolidation loan. You can compare a range of debt consolidation loans by checking the table listed on the article.
I hope this has helped.
Thanks,
Elizabeth