Compare Fixed Rate Personal Loans

Benefit from stable repayments when you lock in your rate for your loan term.

Fixed rate personal loans let you set a rate at the beginning of your term, keeping your repayments set for the duration of your loan. This type of loan comes with a lot of benefits, but also a few added restrictions when compared to its variable rate counterpart. We break these down for you in this guide to help you decide if a fixed rate loan is right for you.

RateSetter Unsecured Personal Loan - 3yr Fixed

RateSetter Unsecured Personal Loan - 3yr Fixed

From

8.11 % p.a.

fixed rate

From

8.71 % p.a.

comparison rate

  • Get a personalised comparison rate based on your credit score
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RateSetter Unsecured Personal Loan - 3yr Fixed

RateSetter offers this unsecured personal loan with a fixed or variable rate. Receive a tailored interest rate from 8.11% p.a. based on your risk profile.

  • Interest rate from: 8.11% p.a.
  • Comparison rate: 8.71% p.a.
  • Interest rate type: Fixed
  • Application fee: $89
  • Minimum loan amount: $2,001
  • Maximum loan amount: $45,000
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Fixed rate personal loan comparison

Rates last updated December 16th, 2018
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
RateSetter Unsecured Personal Loan - 3yr Fixed
From 8.11% (fixed)
8.71%
$2,001
0.5 to 5 years
$0
$89
You'll receive a fixed rate from 8.11% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$0
$500 (Upfront fee)
You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.
ANZ Fixed Rate Personal Loan
12.45% (fixed)
13.32%
$5,000
1 to 7 years
$10
$150
You'll receive a fixed rate of 12.45% 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.
Latitude Personal Loan (Unsecured)
From 13.99% (fixed)
15.19%
$3,000
2 to 7 years
$13
$250 (Loans under $4000 - $140)
You'll receive a fixed rate between 13.99% p.a. and 29.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Flexible repayments options.
HSBC Personal Loan
From 8.5% (fixed)
9.06%
$5,000
1 to 5 years
$5
$150
You'll receive a fixed rate between 8.5% p.a. and 16.99% p.a. based on your risk profile
An unsecured personal loan with a tailored, fixed rate where you can make additional and early repayments without penalty.
Westpac Unsecured Personal Loan
12.99% (fixed)
14.14%
$4,000
1 to 7 years
$12
$0
You'll receive a fixed rate of 12.99% p.a.
Benefit from the security of a fixed rate with the flexibility of additional repayments. Existing Westpac customers may qualify for discounts. Note: $250 establishment fee waived if you apply before 20 December 2018.
Latitude Low Rate Personal Loan (Unsecured)
10.99% (fixed)
12.21%
$20,000
2 to 7 years
$13
$250
You'll receive a fixed rate of 10.99% p.a.
A secured or unsecured loan available to homeowners with a large minimum borrowing amount of $20,000. Benefit from flexible repayments and fast approval.
Pepper Money Unsecured Fixed Rate Personal Loan
From 9.99% (fixed)
9.99%
$5,000
1 to 7 years
$0
$0
You'll receive a fixed rate between 9.99% p.a. and 27.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no monthly or application fees.
NAB Personal Loan Unsecured Fixed
Headline rate 13.49% (fixed)
14.36%
$5,000
1 to 7 years
$10
$150
You'll receive a fixed rate between 11.49% p.a. and 18.99% p.a. 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.
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
$0
3% (of loan amount)
You'll receive a fixed rate between 7.5% 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.
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.56%
$5,000
1.5 to 7 years
$13
$495 (Based on $10,000)
You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
Apply for loans from $5,000 and get a dedicated loan manager. No security required.
Australian Military Bank Fixed Rate Personal Loan
From 7.93% (fixed)
8.77%
$1,000
1 to 5 years
$10
from $100 to $500
You'll receive a fixed rate between 7.93% p.a. and 18.87% p.a. based on your risk profile
An unsecured loan with a low minimum borrowing amount and flexible repayment options.
CUA Unsecured Fixed Rate Personal Loan
11.99% (fixed)
12.25%
$5,000
1 to 7 years
$0
$175
You'll receive a fixed rate of 11.99% p.a.
An unsecured loan from $5,000 with no monthly or establishment fees and flexible repayments.
CUA Discount Fixed Personal Loan (Loans over $30,000)
10.99% (fixed)
11.25%
$30,000
1 to 7 years
$0
$175
You'll receive a discounted fixed rate of 10.99% p.a.
Receive a discounted rate for borrowing over $30,000 and benefit from features such as no monthly fees and flexible repayments.
St.George Unsecured Personal Loan - Fixed Rate
From 12.99% (fixed)
14.06%
$2,000
1 to 5 years
$12
$0
You'll receive a fixed rate between 12.99% p.a. and 19.99% p.a. based on your risk profile
A low minimum borrowing amount of $2,000 to fund a range of purposes. Note: $195 establishment fee waived if you apply before 20 December 2018.

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Compare fixed rate personal loans

How do fixed rate personal loans work?

Fixed rate personal loans are just standard personal loans, but the main feature of these loans is that the interest rate will not change during the loan term. You can usually choose a loan term of between one and five years for a fixed rate loan.

Having your repayments remain fixed for the life of a loan is a big benefit, but it's important to understand fixed rate personal loans generally come with restrictions. These mostly have to do with repayments. For example, you may not be able to make additional repayments or you may only be able to make repayments up to a set cap. You may also not be able to repay the loan early. However, not all fixed rate personal loans come with these restrictions which makes it important to compare your options.

What features come with fixed rate personal loans?

Fixed rate personal loans come with a number of benefits, but also a few restrictions. Here are the typical features you can expect:

  • Loan term. Lenders offer varying loan terms depending on the type of loan it is (secured or unsecured) as well as a number of other factors, but you can usually expect a term of between one and five years, with some lenders extending up to seven years. With some loans, part of this term may be fixed, with the other part of the term having a variable rate attached.
  • Repayments stability. The interest rate is fixed, and that means your repayments stay the same for the entirety of your loan term. This is no matter what happens to rates in the market.
  • Early payment penalties. Fixed rate personal loans usually come with fees for paying your loan back early or for making additional repayments. These differ between lenders, but generally, because you are considering ending the fixed term early, you will be expected to pay a fee. You might also find some lenders only charging fees if you repay your loan within a certain period, for example, in the first year.
  • Upfront and ongoing fees. Look out for fees for establishing the loan or ongoing monthly fees. These aren't standard for fixed rate personal loans, so remember to compare what's available.

Should you get a fixed rate or variable rate personal loan?

Personal loans that come with a fixed interest rate can be suitable to help you finance a range of different purposes:

Fixed rate personal loans

  • Your repayments remain the same each month, making it easy to budget
  • Some loans still come with repayment flexibility, such as allowing early and additional repayments
  • Many loans come with repayment restrictions such as penalties for early repayments
  • Loan terms generally only extend up to five years.

Variable rate personal loans

  • Flexible repayments such as no penalty for early and extra repayments
  • Loan teams can extend up to seven years
  • Your rate may change over your loan term
  • Loan terms generally only extend up to five years.

Variable or fixed rate? The questions to ask

  • Do I want flexibility with my repayments? Generally speaking, variable rate loans offer more flexible repayments. This includes the ability to make extra repayments, repay the loan and access a redraw facility. Some fixed rate personal loans may also offer these features but not all will. If you want flexible repayments, just make sure to find a loan that offers you the ability to do this without charging you a penalty.
  • Which type of loan offers me a lower rate? Both fixed rate and variable rate personal loans can offer competitive rates, so it pays to compare both to find a good deal. Also look out for risk-based personal loans if you have a good credit history. These loans reward good credit borrowers with better rates.
  • Does the loan type offer me the features I need? While fixed rate loans generally come with certain features, there are no hard and fast rules that lenders need to play by. This means that you could find a loan offering all of the features you want and it could have a fixed or variable interest rate. So, decide what features you want from your personal loan, whether it be repayment flexibility, a long loan term or a redraw facility, and find a loan that offers what you want.

How do I compare fixed rate personal loans?

Keep the following in mind when comparing your fixed rate personal loan options:

  • Is the loan secured or unsecured? If you're looking to buy a vehicle or own a property you can consider a secured fixed rate loan and use the asset you own or are looking to buy as a guarantee. Secured loans come with lower interest than their unsecured counterparts because they're less risky for lenders. If you fail to make your repayments, the lender is able to repossess your asset and sell it to recoup its losses.
  • What's the interest rate? Comparing interest rates is important as this is the rate you will be paying for the whole term of your loan. Compare the loan against similar offerings to get an idea if it's competitive.
  • How long is the loan term? This ultimately comes down to what you need. You can expect most lenders to offer repayment terms of between one and five years for fixed rate loans, but some lenders extend their offerings up to seven years. You can lower your repayments with a longer term but you will ultimately pay more interest.
  • What fees and penalties will I be charged? Look out for upfront charges such as establishment fees, any ongoing costs in the form of monthly or annual fees, and what you will be charged if you repay the loan early or make extra repayments. Other costs to watch out for include penalties for late payments.

Is there anything to avoid with fixed rate personal loans?

  • Taking on a longer loan term than you need. While your repayments might be lower with a longer loan term, you will end up paying more interest. Budget your repayments before you apply and work out a repayment period you can afford.
  • Taking a loan you can’t afford. Establish your ability to repay the loan before you fill in the application. While this is especially true if you take out an unsecured loan, as you stand to lose your collateral, defaulting on an unsecured loan can mean a bad credit rating for the next fives years.
  • Not reading the fine print. Go over your loan contract so you're aware of all fees, charges and conditions.

How do you apply for a fixed rate personal loan?

  1. Compare + Click. Use the table above to compare your fixed rate personal loan options. Once you find a loan that's right for you, you can click on the lender's name to read a more detailed review or click "Go to Site" to start the application process.
  2. Eligibility + Application. You can confirm your eligibility on the Finder review page or on the lender's website. You will need to meet minimum age, income, employment and credit requirements before submitting your application. Online applications differ, but generally, you will need your personal, financial and employment details.
  3. Approval + Funding. You can usually find out if you're approved or conditionally approved within a few minutes, but some lenders may take longer. You can check back with the lender to find out about the status of your application. If you're approved, your loan can be funded any time from that same day to a week later. Check with the lender for details on a timeframe.

Some questions we've been asked about fixed rate personal loans

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Personal Loan Offers

Important Information*
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.96% p.a. to 18.91% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years.

ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 12.45% 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.

RateSetter Unsecured Personal Loan - 3yr Fixed

You'll receive a fixed rate from 8.11% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.

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4 Responses

  1. Default Gravatar
    shellyAugust 28, 2015

    we are wanting to remodel our home. what loan would be good for us?

    • finder Customer Care
      ElizabethAugust 28, 2015Staff

      Hi Shelly,

      Thanks for your question.

      I’m not able to recommend a specific loan to you as the best loan will depend on how much you’re looking to borrow, your financial situation, what you’re eligible for, etc. To remodel your home you can use an unsecured personal loan, some of which are on the page above, or a home equity loan, which secures the loan amount against the equity you hold in your home in gives you a lower rate. You can compare your loan options using the tables on the page above and on the page I’ve linked. Once you’ve found a loan you’re eligible for and that you want to apply for, click ‘Go to Site’ to find out more and submit your application.

      I hope this has helped.

      Thanks,

      Elizabeth

  2. Default Gravatar
    steveSeptember 8, 2014

    is there an organisation i can talk to that would go through all aspects with me on the phone to make sure i’m making the right decision on a personal loan

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