Debt consolidation loans

Reduce your interest rate, fees and monthly repayments with a debt consolidation loan.

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A debt consolidation personal loan works by combining your existing loans and debts into one single lump-sum loan. If you're struggling with multiple debts, a debt consolidation loan can help to reduce your interest rate, fees, monthly repayments and the overall cost of your debt over time. However, it's important to compare the market for a cheaper rate than your current debts to ensure savings.

Avoid the stress of dealing with multiple repayments, rates and fees, so you can focus on paying off your debt more quickly.

OurMoneyMarket Personal Loan

OurMoneyMarket Personal Loan

From

6.29 % p.a.

fixed rate

From

6.54 % p.a.

comparison rate

  • Personalised fixed rate
  • Flexible payment options
  • Fast online application
Security Logo

100% confidential application

OurMoneyMarket Personal Loan

Apply personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation. Special Offer: If your loan is approved before June 30th, you will get a discounted rate of 5.35% p.a. (comparison rate: 6.31% p.a.) for the first 12 months regardless of your credit score.

  • Interest rate from: 6.29% p.a.
  • Comparison rate: 6.54% p.a.
  • Interest rate type: Fixed
  • Application fee: 1.5–6% of your total loan amount
  • Minimum loan amount: $2,001
  • Maximum loan amount: $75,000
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Compare debt consolidation loans in Australia

$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
OurMoneyMarket Personal Loan

From 6.29% (fixed)
6.54%
$2,001
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 6.29% p.a. to 20.99% p.a. based on your risk profile
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

⭐Special Offer: If your loan is approved before June 30th, you will get a discounted rate of 5.35% p.a. (comparison rate: 6.31% p.a.) for the first 12 months regardless of your credit score.
Plenti Personal Loan

From 5.43% (fixed)
5.43%
$2,001
3 to 7 years
$0 to $999
$0
You'll receive a fixed rate between 5.43% p.a. and 17.89% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 3 years. Interest and comparison rates calculated for a loan term of 5 years.

⭐ Finder Exclusive: Eligible applicants with excellent credit will receive rates starting from 5.43% p.a. (comparison rate 5.43% p.a.). Offer ends 30 June 2021. T&Cs apply.

Harmoney Unsecured Personal Loan

From 5.35% (fixed)
6.14%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
You'll receive a fixed rate between 5.35% p.a. and 19.09% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
Alex Personal Loan

From 5.45% (fixed)
5.45%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 5.45% p.a. to 19.99% p.a. based on your risk profile
Borrow between $2,100 and $30,000 from 6 months to 5 years. Note: The $295 establishment fee will be waived for loan applications submitted by 30 June 2021.
ANZ Fixed Rate Personal Loan
8.99% (fixed)
9.88%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 8.99% p.a. with a comparison rate of 9.88% p.a. if you're approved.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.
Symple Loans Personal Loan

From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
⭐Special Offer: Earn up to 50,000 Qantas Points with a personal loan from Symple.
Borrow up to $50,000 with interest rate from 5.75% p.a. to 25.99% p.a. and earn 1 Qantas Point for every $1 borrowed.
SocietyOne Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 5.95% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

⭐ Finder Exclusive: Get a $200 cashback if your loan is approved by June 30 2021. T&Cs apply.
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
Wisr Personal Loan

From 6.49% (fixed)
6.76%
$5,000
3 to 7 years
$195
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer: Wisr's standard establishment fee $595 will be reduced to $195 for applications submitted through Finder. T&Cs apply.
MoneyMe Personal Loans

From 6.25% (fixed)
7.64%
$2,100
1 to 5 years
from $295 to $495
$10
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
Great Southern Bank Unsecured Fixed Rate Personal Loan
9.39% (fixed)
9.64%
$5,000
1 to 7 years
$175
$0
You'll receive a guaranteed rate of 9.39% p.a. with a comparison rate of 9.64% p.a. if you're approved.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
Heritage Bank Fixed Personal Loan
7.99% (fixed)
8.62%
$5,000
1 to 7 years
$200
$5
Choose a fixed rate loan and receive a comparison rate of 8.62% p.a.
Fixed rate loans are available up to $100,000 on terms from 1 to 7 years.
ANZ Variable Rate Personal Loan
10.50% (variable)
11.38%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 10.50% p.a. with a comparison rate of 11.38% p.a. if you're approved. Note: This rate may vary during the loan term.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.
Plenti Variable Rate Personal Loan

From 5.43% (variable)
5.43%
$2,001
1 to 3 years
$0 to $999
$0
You'll receive a variable rate from 5.43% p.a and 17.89% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 12 months. Benefit from transparent costs and a rate estimate before you apply.

⭐ Finder Exclusive: Eligible applicants with excellent credit will receive rates starting from 5.43% p.a. (comparison rate 5.43% p.a.). Offer ends 30 June 2021. T&Cs apply.
NAB Personal Loan Unsecured Variable Rate

From 6.99% (variable)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
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Compare up to 4 providers

Situations where a debt consolidation loan could help you

  • You have multiple debts with different fees. These could include debts from credit cards, personal loans, car loans or wedding loans.
  • You're struggling to make the repayments for the different debts you owe.
  • You're looking for a cheaper way to pay off your debts.
  • You find that keeping track of all your debts is confusing or overwhelming.

Steps to consolidating your debt with a personal loan

Once you have decided to consolidate your debt, you will need to do the following:

  • Calculate how much you need to borrow to cover your debts. This should include any fees or charges you will have to cover in order to pay off your existing debts early.
  • Research and compare personal loan products to find one that meets your needs.
  • Apply for the personal loan.
  • Use the funds to pay off your other debts, along with any fees or charges.
  • Continue to make repayments on your personal loan until it has been repaid.

If you want to consolidate your debt using another method, such as using a credit card, you can read our comprehensive guide to debt consolidation.

The dos and don'ts of debt consolidation loans

Dos
  • Make sure to factor in all the costs of consolidating your debt. This can include establishment fees, early repayment fees, loan applications fees and any other costs. The cost of consolidating your debt could potentially be more than what you're paying for your current loans. Using a personal loans calculator can help you work out exactly how much you'll be paying.
  • Consider turning your unsecured debts into a single secured debt by offering an asset that you own (such as your car) as security for the loan. This can be a great way to secure a lower interest rate, which could potentially save you more money over the life of your loan.
  • Before applying for a debt consolidation loan, try negotiating with your current lenders to factor in your financial situation to see if they can temporarily pause or lower your loan repayments.
  • Read the fine print for any debt consolidation loans that you are considering. This can help you understand specific details, such as whether the lender allows you to make monthly or fortnightly repayments or make extra repayments without being penalised.
Don'ts
  • Don't automatically switch to a longer loan term without doing the calculations. While it might give you lower monthly repayments, it could end up costing you significantly more in interest fees.
  • Don't forget to make sure the credit provider you're considering is credible. You can do this by checking if it's listed on ASIC Connect's Professional Registers. Be wary of companies that try to rush through the process, make unrealistic promises or ask you to sign blank documents.
  • Avoid rolling your debts into your mortgage. Home loans generally have longer terms and this could lead to you paying more in interest fees over the life of your loan.
  • Don't go into more debt. This means that you should stop relying on credit cards or other loans until your existing debts have been settled. The more money you can put towards making your repayments, the faster you can get out of debt.

Are you struggling financially?


If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here: https://www.finder.com.au/coronavirus-financial-help

⚠️ Warning about Borrowing

payday-warningDo you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

How can I get a debt consolidation loan with bad credit?

Those with a bad credit history have a few options to consolidate their debt:

  • Apply for an unsecured personal loan with a specialist lender. Some lenders offer large, unsecured personal loans to people with bad credit. Interest rates are higher than with standard personal loans, but people may still be able to reduce what they're currently paying.
  • Consider a Part 9 Debt Agreement. Debt agreements, which are a form of bankruptcy, are an option for people with large debts they are unable to repay. The financier will negotiate with lenders on the behalf of someone under debt stress and their debts won't accrue any more interest. This agreement will be listed on a person's credit file for five years from the date that they enter into the agreement.

Need help managing your debt consolidation?

Promoted

Fox Symes Debt Solutions

Fox Symes offers a range of debt consolidation options to help you if you're struggling with multiple debts.

How to compare bad credit debt consolidation loans

Like any debt or loan solution, it's important to compare options to find the best possible solution. Here are some things to keep in mind when comparing bad credit debt consolidation loans:

  • The lender needs to be reputable. Unfortunately, there are disreputable lenders who prey on those with bad credit. They promise loans, but then charge high rates and fees. Before submitting an application for a loan with a lender, prospective applicants should take a look at the lender in question's website and see how easy it is to locate information, see if they are easily contactable and even read some third-party customer reviews online.
  • Fees are expected, but they shouldn't be excessive. To find out how fair the fee structure is, compare options online and see what other lenders are charging. Some common fees include loan establishment fees, monthly account-keeping fees, additional repayment fees, default fees and dishonour fees. Loan customers ought to also make sure to check any fees that they might have to pay for using certain features, such as being charged for making additional repayments or utilising a redraw facility.
  • Rates also need to be reasonable. The point of a debt consolidation loan is to save the person with current debt money from reduced interest across their credit accounts. If the rate charged is too high then they may not be saving much money, or may even end up worse off. Borrowers should compare their options to see what a reasonable, competitive interest rate is.
  • Loan terms that are offered by the lender should meet a borrower's debt consolidating needs. The terms will also affect how much repayments will be and also how much interest they will end up paying over the course of the loan.
  • What someone is able to consolidate may also differ between lenders, so loan customers might want to check this before they apply. Some lenders may allow their approved applicants to consolidate any debts from open accounts, but they may have limits. Other lenders may only allow people to consolidate credit card debt or only personal loan debt. Applicants should make sure that they will be able to consolidate what they need to when they compare their options.
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $5000 Loan)
Sunshine Short Term Loans
$2,000
9-14 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
$2,000
62 days to 9 months
1 hour - conditions apply
$15
20% of loan amount + 4% of loan amount each month
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
Ferratum Cash Loans
$1,900
3 to 12 months
Same day - conditions apply
$55
20% of borrowed amount + 4% of borrowed amount each month
Borrow what you need with loans starting from $500 and approval in minutes.
Jacaranda Finance Personal Loan
$10,000
9-24 months
Under 1 hour - conditions apply
$35
$0 - $1,000 depending on credit
$226.47
Borrow up to $10,000 and get access to your funds in as little as 1 hour.
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What to consider when consolidating debt with a personal loan

  • Affordability. You should confirm that the personal loan you use will be cheaper to pay off than your existing debts. You must also ensure that you will be able to cover the repayments on your new loan to avoid going into further debt.
  • Early repayment costs. Many loans will require you to pay additional fees or charges if you repay the loan early. These will need to be paid if you wish to consolidate your debts under a new loan and should be included in your calculations to ensure debt consolidation is the right choice for you.
  • Legitimacy. Always make sure to check that the lender you wish to use is ASIC-licensed and legally able to operate in Australia.

How to get the most out of debt consolidation

  • Set a budget to manage repayments.
  • Use Finder's financial boot camp.
  • Make extra repayments to pay off your debt sooner.
  • Look for money hacks/ways to cut down expenditure.
  • Compare your options to get the best personal loan for your situation.

What are the pros and cons of debt consolidation loans?

Pros
  • Simple, single repayment.
  • You can reduce your overall payments and costs.
  • No more phone calls from debt collectors.
Cons
  • You may increase your debt if you fail to make repayments.
  • You will need to pay any fees or charges for breaking your existing loans.

How to calculate if a debt consolidation is right for you

Laura's debt consolidation calculation

Laura has $23,000 in total debt. Her debt includes the following:

Type of loanUnsecured personal loanCredit cardCar loan
Amount left to pay$10,000$5,000$8,000
Current interest rate18% p.a.20% p.a.16% p.a.
Current monthly repayments$500$150$300

Currently, Laura is paying $950 per month in loan repayments. Laura decides to consolidate her debts into a single personal loan:

  • Loan amount: $23,000 loan
  • Interest rate: 7% p.a.
  • Loan term: 3 years
  • New monthly repayments: $707.91
  • Total savings: $3,142*

*Assuming there are no penalty charges for repaying loans early.

Not only does Laura reduce her monthly repayments by $242.09 per month, but she also saves $3,142 overall over the 3-year loan term.

What other debt consolidation methods are available?

Debt consolidation loans are not the only type of credit available to you if you're struggling with debt. Find the debt consolidation method that is going to work best for your needs and the type of debt you have:

  • Balance transfer credit cards. If you have credit card debt across multiple accounts, you can consolidate it into a single card with a balance transfer. You will pay 0% interest for a specific period of time, with some card providers offering up to 24 months. Certain credit card providers also let you balance transfer personal loan debt. For this method, you will also need good credit to be approved.
  • Part 9 Debt Agreements. If you're having trouble paying your debt, you could enter into a debt agreement with a third-party organisation and your creditors. The agreement essentially freezes the interest you're paying and gives you a certain repayment period to pay back what you owe. Some creditors agree to accept less than the full balance for repaying your debt, but entering into a debt agreement shouldn't be taken lightly as it is considered a form of bankruptcy.
  • Credit counselling. Enlist the services of a reputed credit counselling organisation for formulating a Debt Management Plan (DMP). Once you enrol in a DMP, the creditors will often reduce your interest rates. Afterwards, you will need to make one monthly payment to the counselling organisation. This organisation will handle the repayment to your creditors. This is worthwhile if you can repay your debt within five years, but again, it isn't a decision that should be taken lightly. This should only be entered into if you are having difficulty repaying your debts on your own.

Staying out of debt

When it comes to staying out of debt, there are quite a few things you can do. You could look at developing an emergency fund by trying to save up to 15% of your income. If you find this number a bit high, or just want a way to ease the financial strain, you could consider ways to create alternate sources of income. There are a number of ways to make money online with freelance work by charging people for your skills. You could also consider selling some of your unused items or looking at your expenses and seeing ways you could cut back. As always, creating a budget and sticking to it is a sure-fire way to keep you on track.

Four debt reduction strategies you can consider

If you are considering tackling your debt head-on without taking out a debt consolidation loan or other type of credit, there are ways to help you take back control of your finances:

1. The "snowball" or "domino" method.

The debt "snowball" or "domino" method involves you paying off your debts from smallest balance to largest balance, regardless of interest rates. This method helps get more accounts closed quickly, saving you interest and fees. It also gets you motivated by paying off debt.
To do this, you should do the following:
  • Write down your total outstanding debts. This involves you making a list of your total outstanding debt on each of your credit accounts, except for your mortgage and HECS-HELP debt. You don't need to consider interest rates at this point.
  • Check early exit penalties. Consider early repayment fees for your personal loans and contact your lender if you have any concerns regarding repaying your loans early.
  • Start to pay off your smallest debt. Whichever account has the smallest balance is the account you make additional payments into and you pay off first.
  • And so on. Once you've repaid your smallest debt, start to make additional payments to the next smallest balance, then the next smallest, and so on – until you are out of debt.
  • Similar sized balances. If two accounts have similar balances, pay off the higher interest rate account first.
  • Keep making your minimum repayments. Remember to keep paying the minimum balance on all accounts.

2. Pay off your highest interest balances first

Another strategy is to pay your highest interest balances first. Paying off these accounts will save you money on interest repayments and have the same benefit as the "snowball" strategy in that it will help get your accounts closed.

To do this, you should do the following:

  • Write down all outstanding debts. Start by writing down all your accounts, the balance outstanding on each and the interest rates.
  • Start making additional repayments. Remember to consider the balance of credit accounts when starting to pay them down as well as how much interest the lenders are charging.
  • Keep paying your minimum. Remember to keep making minimum repayments on all accounts.

3. Make savings where possible

Finding the money to make additional payments can be a struggle. Luckily, there are a number of ways that you can save money effectively by making just small changes to your lifestyle. These include the following:

  • Upgrading your savings account. When was the last time you compared your savings accounts? You may be able to find an account with a better interest rate than your current savings, making your money go further.
  • Utilising coupons. Before making a purchase, have you looked to see if you could find it cheaper with a coupon code?
  • Put whatever you can aside. Saving where you can and putting all your additional funds into your prioritised debt (according to the strategy you've adopted) is key to being debt-free.

4. Budget, budget, budget

Developing and sticking to a budget is of paramount importance when it comes to getting out of debt. There are a number of budgeting websites, tools and apps available that can help you to do the following:

  • Invest
  • Track your spending
  • Manage your invoices
  • Manage your bills and expenses
  • Round up your money to the nearest dollar to add to a savings account

Other questions you may have

More guides on Finder

  • Insolvency vs bankruptcy

    Want to understand the differences between personal insolvency and bankruptcy, and what both of these terms mean for your financial future? Find out here.

  • Does bankruptcy actually clear your debts?

    Bankruptcy doesn't clear all of your debts – here is a guide to which debts aren't eligible to be covered by bankruptcy.

  • What are the consequences of bankruptcy?

    This guide will take you through the consequences of bankruptcy so you can decide if it's the right option for you.

  • Debt solutions

    Need a solution for your debt? Find out what options you have in this guide.

  • Debt negotiation

    What is debt negotiation and how can it help you? Find out here.

  • What you’re doing wrong that keeps you in debt

    It doesn't matter how long you've been in debt or how much debt you have, there are strategies you can use to free yourself from any kind of debt trap. Use our guide to see how you can set yourself on the road to regaining financial control, and getting out of debt once and for all.

  • The best way to pay down $50,000 in debt

    Debt can creep up on you, so what do you do when it hits $50,000? We talk to financial experts Noel Whittaker and Robert Dawson about the best strategies to pay down substantial debt.

  • ANZ debt consolidation using a balance transfer or personal loan

    Consolidate your debts into one account and repay your balance at a low interest rate with a personal loan or balance transfer credit card with ANZ.

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

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47 Responses

    Default Gravatar
    ALLENFebruary 28, 2019

    I have loans that are overdue and outstanding balances to pay. I have the capacity to repay a loan up to $60,000. Where can I find a lender that will consolidate debts that are already overdue and next to being referred to CRAA?

      Avatarfinder Customer Care
      JeniMarch 2, 2019Staff

      Hi Allen,

      Thank you for getting in touch with Finder.

      You may refer to the table above with a list of debt consolidation loans. Banks/lenders also check your capability to repay the loan so it would be helpful for you to contact your chosen bank/lender directly regarding your loan needs.

      You may also refer to our guide on bad credit debt consolidation.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    NicoleSeptember 7, 2018

    I have been approved for a consolidation loan but the interest is 18% over 5yrs. Short term it will be great to have 1 repayment but over the 5yrs the amount owing is crazy. Can I shop around for a better interest rate? Will it effect me in any way ie.credit checking?

      Avatarfinder Customer Care
      JohnSeptember 7, 2018Staff

      Hi Nicole,

      Thank you for leaving a question.

      Yes, this is definitely an options available for you. You may still shop around for better deals but please note that each time you apply hits your credit score since an inquiry is being made. It is best to make sure that you want the deal before you apply for it. This ensures that you make as less inquiries on your credit score as possible. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    NicoleSeptember 7, 2018

    I’ve been offered a debt consolidation loan but the interest is 17%. Do I have to keep applying to find a lender with lower rate? If I do start shopping for a better offer will it effect me in any way ie.credit checking?

      Avatarfinder Customer Care
      JohnSeptember 7, 2018Staff

      Hi Nicole,

      Thank you for leaving a question.

      You do not need to keep on applying for a better deal but instead you may ask around on what other lenders could offer. The only time your credit score is when you are already applying for the loan. Speak with lender representatives and see what they could offer, if you do find a better deal then ask what the requirements are and see if you qualify before you apply for the loan. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    JODIEApril 19, 2018

    I have $30,000 to consolidate. Looking for a way to consolidate with a fixed interest rate between 9% – 12%

      Default Gravatar
      NikkiApril 19, 2018

      Hi Jodie,

      Thanks for your message and for visiting Finder.

      The NOW Finance unsecured personal loan and the NAB unsecured loan has a fixed interest rate from 9-12%

      Alternatively, The information above shows you multiple providers for debt consolidation. Please use our comparison table to help narrow down your options. Simply, enter the amount to be consolidated and sort the table based on interest rate p.a. to show you the providers within a 9%-12% fixed interest rate.

      Once you have chosen a particular lender, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance. 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.

      Hope this helps! Feel free to message us anytime should you have further questions.

      Cheers,
      Nikki

    Default Gravatar
    LouiseJanuary 24, 2018

    I need to consolidate some loans and credit cards to the value of $97,000 – my bank only offers up to $50,000 – what do you suggest?

      Avatarfinder Customer Care
      JonathanFebruary 21, 2018Staff

      Hi Louise,

      If your bank only offers up to $50,000 it could be better to consider applying for a new balance transfer offer with a higher credit limit or a personal loan for debt consolidation.

      You may open the links above to compare your options. These pages have a comparison table you can use to see which provider suits you. When you are ready, you may then click 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.

      Thanks,

      Jonathan

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