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Personal Loan Comparison & Reviews

Rates and fees last updated on

Navigate your personal loan options with our guide on how to find, compare, apply for and manage all types of personal loans.

Whether you're purchasing a car, taking a holiday, buying furniture or even trying to cover emergency medical expenses, a personal loan might be an option to consider. By comparing personal loans online you can find a loan to suit your needs and budget, and by using online tools and calculators you can understand what you'll be paying over the life of the loan, and may even find ways to save.

Read on to learn more about the different types of loans available to you, how to compare these loans and, most importantly, how to manage your repayments.

What is a personal loan?

A personal loan is a type of credit that you can get from a bank or lending institution that helps you finance something for a personal purchase. This can include a car, a boat, a caravan, or a larger purchase such as a holiday or television. These loans can be for as little as $100 or as much as $100,000, and the loan terms vary from 16 days to seven years.

Citi Personal Loan Plus

Citi Personal Loan Plus

from

9.99 % p.a.

variable rate

from

10.95 % p.a.

comparison rate

  • Loan amounts from $5,000
  • Offers a reusable credit facility
  • Repay over 5 years
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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: 9.99% p.a.
  • Comparison rate: 10.95% p.a.
  • Interest rate type: Variable
  • Application fee: $199
  • Minimum loan amount: $5,000
  • Maximum loan amount: $75,000
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Your quick comparison of personal loan types

There are a number of personal loan types available from a range of brands. Depending on what you're looking to finance, any of the following might be the right option for you. Browse through the tabs below to compare your options:

An unsecured personal loan is a credit option that doesn't require you to risk a personal asset.

Tips for comparing unsecured personal loans:

  • The comparison rate will give you an idea of the true cost of the loan, including fees and interest
  • Find out if you can repay the loan early without penalty or make additional repayments, and check if there is a redraw facility
Rates last updated December 14th, 2017
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
Citi Personal Loan Plus
9.99% (variable)
10.95%
$5,000
3 to 5 years
$10
$199
Borrow up to $75,000 to use for a range of purposes. Competitive rate of 9.99% p.a. available to all approved applicants.
DirectMoney Unsecured Personal Loan
From 8.5% (fixed)
9.36%
$5,000
3 to 5 years
$0
$595
This unsecured loan features tiers of interest rates from 8.5% p.a. to 19.95% p.a. based on your credit history.
Pepper Money Unsecured Fixed Rate Personal Loan
From 9.99% (fixed)
9.99%
$5,000
1 to 7 years
$0
$0
Apply for up to $50,000 and receive conditional approval within minutes.
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$0
$500 (Upfront fee)
Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 29.99% p.a. based on credit history.
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
$0
3% (of loan amount)
Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan.
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.42%
$4,000
1.5 to 7 years
$13
$395 (Based on $10,000)
Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 16.95% p.a. depending on your credit score.
Bank Australia Lifestyle Personal Loan
11.89% (variable)
12.94%
$1,000
1 to 10 years
$0
$150
A competitive variable rate loan that gives you ten years to repay.
Latitude Personal Loan (Unsecured)
From 13.99% (fixed)
15.19%
$3,000
2 to 7 years
$13
$250 (Loans under $4000 - $140)
An unsecured loan designed for multiple purposes – renovating, buying a car or travelling. Funds can be in your account in as little as 24 hours.
Westpac Unsecured Personal Loan
From 12.99% (fixed)
14.14%
$4,000
1 to 7 years
$12
$250
Borrow up to $50,000 for a term of up to 7 years with the unsecured Loan from Westpac
Bank of Melbourne Unsecured Fixed Rate Personal Loan
From 12.99% (fixed)
14.06%
$3,000
1 to 5 years
$12
$0 (On new loan applications before 18th January 2018.)
Apply for a loan from $3,000 and lock in a competitive fixed rate for up to 5 years. Apply before 18 Jan 2018 for a $0 application fee. Conditions apply.
NAB Personal Loan Unsecured Fixed
14.99% (fixed)
15.85%
$5,000
1 to 7 years
$10
$150
An unsecured loan available for a wide range of purposes for a long period of time up to 7 years. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.
St.George Unsecured Personal Loan - Fixed Rate
From 12.99% (fixed)
14.06%
$2,000
1 to 5 years
$12
$0 (On new loan applications before 18th January 2018.)
Convenient redraw facility, flexible personal loan repayment options with a competitive interest rate. Apply before 18 Jan 2018 for a $0 application fee. Conditions apply.
NAB Personal Loan Unsecured Variable Rate
14.69% (variable)
15.55%
$5,000
1 to 7 years
$10
$150
An unsecured loan with a redraw facility that allows you to access money you've paid in advance. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.

Compare up to 4 providers

A secured personal loan is a type of loan which is usually used to finance the purchase of a large asset, such as a car, boat or caravan.

What to keep in mind when comparing secured personal loans:

  • Are there restrictions on the asset you can secure? For example, does the vehicle have to be under a certain age or over a certain value?
  • Can you only use the loan amount to finance the purchase of the vehicle or asset?
  • Is there a balloon payment at the end of a loan term? This is a common feature of dealership financing.
Rates last updated December 14th, 2017
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
IMB New Car Loan
From 5.99% (fixed)
6.34%
$2,000
1 to 7 years
$0
$250
Borrow up to $75,000 for a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.
RACV New Car Loans
From 6.49% (fixed)
7.03%
$15,000
1 to 7 years
$0
$380
Enjoy this fixed rate new car loan offer from RACV. No ongoing fees.
Beyond Bank Low Rate Car Loan
From 5.69% (fixed)
5.97%
$25,000
1 to 7 years
$0
$175
A great rate for cars under 2 years old.
Stratton Finance New Car Loan
From 5.49% (fixed)
6.62%
$18,000
1 to 7 years
$7
$499
Benefit from a car broker with over 25 years experience
Bank Australia Car Loan
6.45% (fixed)
6.66%
$1,000
1 to 7 years
$0
$150
A competitive rate and the ability to offset your car’s carbon emissions for the loan term.
bcu Car Loan
From 5.9% (variable)
6.82%
$5,000
1 to 5 years
$8
$250
Borrow up to $65,000 for a car up to 5 years old. The New Car Loan from bcu allows you to make extra repayments and access a redraw feature
Latitude Car Loan
From 6.99% (fixed)
8.1%
$5,000
1 to 7 years
$10
$295
A secured loan with a competitive rate that can help you finance new or used vehicles.
Community First Credit Union New Car Loan - Variable
From 5.34% (variable)
6.1%
$10,000
1 to 7 years
$5
$195
Borrow up to $60,000 to purchase a new car or motorbike.
Bank Australia Personal Loan Property Owner
7.89% (variable)
8.92%
$1,000
1 to 10 years
$0
$150
Take advantage of long loan terms and use the funds for any purpose Note: Loan only available to property owners
AutoCarLoans
From 5.16% (fixed)
6.64%
$15,000
1 to 7 years
$5
$381.80
AutoCarLoans can match you with a lender from its panel with rates starting from 5.16% p.a. Suitable for vehicles up to 2 years old.
IMB Secured Personal Loan
From 7.39% (fixed)
7.74%
$2,000
1 to 5 years
$0
$250
All approved applicants can access this competitive rate and use the loan to finance a range of purposes. Loan amounts up to $60,000 available.
RACV Personal Loan
From 7.49% (fixed)
8.04%
$5,000
1 to 7 years
$0
$380
You could use this personal loan offer from RACV to help finance a renovation, holiday or project.
bcu Secured Freedom Loan
From 9.08% (variable)
9.99%
$4,000
1 to 5 years
$8
$250
A competitive, secured personal loan that you can use for a variety of purposes.
Latitude Personal Loan (Secured)
From 12.99% (fixed)
14.2%
$3,000
2 to 7 years
$13
$250 (Loans under $4000 - $140)
Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your account in as little as 24 hours.

Compare up to 4 providers

Payday loans are small, short-term loans that are used to cover expenses that come up before payday. Loan terms are for between 16 days and one year and you can usually borrow up to $2,000, although sometimes more.

Here's what to know when comparing short term loans

  • Fees on short-term loans under $2,000 is capped at 24%, but you can find brands who charge less
  • Some lenders offer additional features, such as free debit cards and easy repeat borrowing
  • Check the eligibility criteria before applying
Rates last updated December 14th, 2017
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Debt consolidation loans work by letting you bring debts from different credit accounts together so you can pay them off with one rate and one set of fees.

When you're comparing loans for debt consolidation:

  • Consider whether the new loan will save you money. Work out your new monthly repayment and if this will be lower than what you are currently paying
  • Think about your eligibility for the loan. If you have a lot of debt from several accounts you may not be able to consolidate all of it, or if you have bad credit you may need to consider your bad credit debt consolidation options
Rates last updated December 14th, 2017
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
DirectMoney Unsecured Personal Loan
From 8.5% (fixed)
9.36%
$5,000
3 to 5 years
$0
$595
This unsecured loan features tiers of interest rates from 8.5% p.a. to 19.95% p.a. based on your credit history.
Citi Personal Loan Plus
9.99% (variable)
10.95%
$5,000
3 to 5 years
$10
$199
Borrow up to $75,000 to use for a range of purposes. Competitive rate of 9.99% p.a. available to all approved applicants.
NAB Personal Loan Unsecured Fixed
14.99% (fixed)
15.85%
$5,000
1 to 7 years
$10
$150
An unsecured loan available for a wide range of purposes for a long period of time up to 7 years. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.
Westpac Unsecured Personal Loan
From 12.99% (fixed)
14.14%
$4,000
1 to 7 years
$12
$250
Borrow up to $50,000 for a term of up to 7 years with the unsecured Loan from Westpac
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
$0
3% (of loan amount)
Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan.
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$0
$500 (Upfront fee)
Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 29.99% p.a. based on credit history.
Bank Australia Lifestyle Personal Loan
11.89% (variable)
12.94%
$1,000
1 to 10 years
$0
$150
A competitive variable rate loan that gives you ten years to repay.
Latitude Personal Loan (Unsecured)
From 13.99% (fixed)
15.19%
$3,000
2 to 7 years
$13
$250 (Loans under $4000 - $140)
An unsecured loan designed for multiple purposes – renovating, buying a car or travelling. Funds can be in your account in as little as 24 hours.
Pepper Money Unsecured Fixed Rate Personal Loan
From 9.99% (fixed)
9.99%
$5,000
1 to 7 years
$0
$0
Apply for up to $50,000 and receive conditional approval within minutes.
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.42%
$4,000
1.5 to 7 years
$13
$395 (Based on $10,000)
Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 16.95% p.a. depending on your credit score.
NAB Personal Loan Unsecured Variable Rate
14.69% (variable)
15.55%
$5,000
1 to 7 years
$10
$150
An unsecured loan with a redraw facility that allows you to access money you've paid in advance. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.
Swoosh Finance
From 48% (variable)
66.04%
$2,100
1 to 2 years
$400
A secured loan you can apply for in 10 minutes that gives you up to 12 months to repay. Note: Max loan amount $4,600. Fees and charges included in repayment.

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A quick guide to personal loan types

  • Secured loans

These loans require an asset to be attached to the loan as a guarantee, so you can use the loan to buy this asset or use an asset you already own. A common form of security is a car, but can also be equity you hold in your property, a term deposit or other high-priced asset. You will get a more competitive rate because the lender is taking on less of a risk, knowing they can sell the guaranteed asset if you default on your loan.

  • Unsecured loans

With an unsecured personal loan you can consolidate debt, make a large purchase, take a holiday, or finance anything else you want to. They do not require a guarantee and can be for large amounts – up to $75,000 or more with some brands. Terms of between one and seven years are available and you will usually have the choice between fixed or variable interest rates.

  • Short term loans

Also known as payday loans or cash advances, these loans are for any amount between $100 and $2,000 and are designed to be repaid within 16 days to one year. For loans of this size, you will be charged no more than a 20% establishment fee and a 4% monthly fee for however long you hold the loan. If you borrow more than $2,000 you will be charged an interest rate and a fee that will be higher.

  • Car loans

Car loans are specifically designed for the purchase of new, used or older vehicles and come with competitive rates as they are secured. You can apply for a car loan from a range brands including (but not limited to) a major bank, credit union, standalone car lender or dealer in the form of dealership finance. There are several different types of car financing available including standard car loans, chattel mortgages, novated leases, among others.

  • Lines of credit/overdrafts

These are flexible forms of financing that give you access to credit as and when you need it. A line of credit is a revolving form of finance, where you can draw up to and including a specified limit and only pay interest on the amount you use. Personal overdrafts are attached to your transaction or savings account and give you additional funds up to a specified limit when your account goes into the negative.

How can I compare personal loans?

As you can see from the personal loan types outlined above, you have a few forms of financing available. Not only that, but you have various brands offering a number of different loans. So how do you compare them? Asking the following questions will help you narrow down your options, compare what's available and find your loan.

  • What do I need the loan for? The purpose of the loan will have a bearing on the type of loan you should apply for. If you want to buy a vehicle, a secured car loan will get you the most competitive rate. However, you need to check if the vehicle you're buying is eligible for a secured car loan. If you need access to ongoing emergency funds, a line of credit or personal overdraft are options to consider. Decide what you want to get out of the loan and then make sure the loan will be able to accommodate your loan purpose.
  • Do I want fixed repayments or flexibility with how I pay? Fixed and variable interest rates both come with benefits and drawbacks. A fixed interest rate means you know what your repayments will be for the duration of the loan term, but you won't be able to make additional repayments or repay your loan early without penalty. You will get that flexibility with a variable rate loan but your interest rate may fluctuate throughout your term.
  • Does the loan give me what I need? Does the loan allow you to borrow the amount you need? How quickly will you get your loan funded, and will it be in the timeframe you require? How do you repay your loan – is the amount debited out of your account, or do you have to manage the repayments yourself? Can you manage the account online?
  • Am I eligible for the loan? Check the minimum eligibility criteria before you apply for any loan – this is always listed on finder.com.au review pages so you can conveniently check off what's required before clicking "Go to Site". Minimum age, income, employment and credit history requirements are likely to apply. If you have questions regarding any of the criteria, it's best you get in touch with the lender before submitting your application.

What you need to know about managing your personal loan

Personal loans can give you a way to get you want now without having to save for it, but without a budget or idea of how you're going to manage your repayments, you can easily fall into late payments or even defaults. What many people underestimate is how difficult it will be to repay a loan. Here are a few helpful tips to help you manage your personal loan.

  • Draw up a budget that includes your repayments. Depending on the size of your loan, you could see a couple of hundred dollars a month coming out of your account, and if you have a variable rate loan the repayments will not be the same each month. Having money to fall back on in your budget will make it easier to get by each month.
  • Use a personal loan repayment calculator before you apply. This will give you an idea of what the loan is going to cost and if you will be able to afford the repayments.
  • Look at the comparison rate. This will give you an idea of the true cost of the loan as it includes fees as well as the interest rate.
  • Check the flexibility of the loan before you apply. Are you able to make additional repayments? Is there a redraw facility? These features may help you to save money down the line.

Frequently asked questions about comparing personal loans

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This page was last modified on 30 November 2017 at 12:28pm.

SocietyOne Unsecured Personal Loan

Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan.

DirectMoney Unsecured Personal Loan

This unsecured loan features tiers of interest rates from 8.5% p.a. to 19.95% p.a. based on your credit history.

NAB Personal Loan Unsecured Variable Rate

An unsecured loan with a redraw facility that allows you to access money you've paid in advance. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.

NOW FINANCE Personal Loans

Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 16.95% p.a. depending on your credit score.

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2 Responses

  1. Default Gravatar
    christineApril 12, 2015

    I am a pensioner with extra earnings via a casual job and would like to buy a caravan. How am i positioned to get a loan for this

    • Staff
      ElizabethApril 13, 2015Staff

      Hi Christine,

      Thanks for your question.

      You can compare caravan loans for pensioners on this page. Take a look at each loan by clicking on its name to find out the minimum income required to see if you meet it.

      I hope this has helped.

      Thanks,

      Elizabeth

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