Finder Exclusive Offers: 0% for up to 24 months on balance transfer cards
Compare & save
low interest personal loan apply

Compare low interest rate personal loans

Rates and fees last updated on

Don't pay more than you need to – take advantage of low interest rates on personal loans.

If you're considering a personal loan to help you make your next big purchase, consolidate debt or take any other step in your life, you want to be sure you're taking on a competitive product. Low interest rate personal loans help you keep your ongoing costs low and your repayments manageable. Compare a range of these loans and find a low interest rate loan for you.

Low Interest Rate Loan from RateSetter

RateSetter Personal Loan


8.66 % p.a.

fixed rate


9.17 % p.a.

comparison rate

  • Get a personalised comparison rate based on your credit score
Security Logo

100% confidential application

Low Interest Rate Loan from RateSetter

The RateSetter Personal Loan offer provide you the facility of peer-to-peer lending with a personalised comparison rate based on your credit score. Borrow up to $45,000

  • Interest rate from: 8.66% p.a.
  • Comparison rate: 9.17% p.a.
  • Interest rate type: Fixed
  • Application fee: $0
  • Minimum loan amount: $2,001
  • Maximum loan amount: $45,000
Go to site

Low interest rate personal loans you can compare

Rates last updated July 29th, 2017
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment Product Description
RateSetter Personal Loan
From 8.66% (fixed)
0.5 to 5 years
$0 (Upfront fee $250 for loan terms of 2 years and above)
Ratesetter allow you to get a personalised rate based on your credit score.
SocietyOne Unsecured Personal Loan
From 7.9% (fixed)
2 to 5 years
3% (of loan amount)
Interest rates for a 3 year loan range from 7.9% p.a. to 10.90% p.a. Comparison rate from 9.92% p.a. to 13.63% p.a. for good credit scores A and AA
NOW FINANCE Personal Loans
From 8.95% (fixed)
1.5 to 7 years
$395 (Based on $10,000)
Get rewarded with a low interest rate for your good credit history.
bcu Unsecured Multipurpose Loan
From 8.94% (variable)
1 to 5 years
A flexible unsecured or secured personal loan with a competitive rate.

Compare up to 4 providers

Low rate personal loan comparison

Compare the features of some of these low rate personal loans

ProductAdvertised RateComparison Rate
ANZ Fixed Rate Personal Loan10.99% p.a.11.87% p.a.
HSBC Personal Loan9.5% p.a.10.06% p.a.
CUA Fixed Rate Personal Loan10.99% p.a.10.99% p.a.
SocietyOne Unsecured Personal Loan7.9% p.a.9.92% p.a.

How can you compare low interest rate personal loans?

A personal loan with a low interest rate can help you keep your ongoing repayments down while giving you access to the funds you need. But an interest rate is not the only feature a personal loan comes with.

  • Check what fees apply. While a low interest rate can help you save, high ongoing fees can make your loan more expensive than it needs to be. See if you are charged an establishment fee or monthly or annual fees for your personal loan. Comparing your options by the comparison rate rather than the interest rate will also give you a better idea of the loan cost.
  • See how flexible the repayments are. Most lenders will offer you the option of making weekly, fortnightly or monthly repayments, but not all do. It's also important to check how easy it is to make your repayments – are they automatically deducted from your account on the due date? Can you manage your account easily online?
  • Determine if you can repay your loan early or make additional repayments. Repaying a loan early or making extra repayments is usually reserved for loans with variable interest rates, but some fixed rate loans also offer these features. Check if there are any limits on additional repayments (you may only be able to repay a certain amount per year) and if you will be charged a penalty for repaying early.
  • Evaluate the loan term and loan amounts. These will need to meet your borrowing needs. Are you able to borrow the amount you need for the time period you require to pay off the balance? Most lenders offer fixed rate loans with terms of between one and five years, and variable rate loans up to seven, but some lenders only offer certain terms within that range, such as one-, three- or five-year loans.

What types of personal loans have low rates?interest rate

There are various types of personal loans in the market to suit most borrowers' needs, and some of these offer low rates. Here is a breakdown of the types of personal loans you can get:

  • Secured loans

This type of loan is used to purchase a car or another large asset, such as a boat or caravan. This will come with the most competitive interest rates because the asset you purchase is used as security by the lender in case you default on your loan. These loans have more restrictions than unsecured loans. For example, some lenders base the loan amount on the value of the asset you purchase.

  • Unsecured loans

Unsecured personal loans are similar to secured loans, although the lender does not require you to use an asset as security. Due to the increased amount of risk the lender is taking on, interest rates for these loans are usually higher, but you can still find competitive rates when you compare.

Unsecured loans are also more flexible when it comes to restrictions the lender places on the loan. For instance, you're able to use the loan amount however you like. This can be for one purchase or for a number of different purposes.

  • Debt consolidation loans

Another reason people opt for low interest rate personal loans is to help them consolidate their debts. By moving all of your debts into one personal loan you may be able to save yourself money and better manage your repayments. These loans are unsecured and you can find low rates when you compare your options.

3 tips to help you get the lowest rate loan
  1. Check your credit score
    Make sure your credit is in good standing by checking your credit score for free with
  2. Collect all your necessary documents
    You'll need your payslips, ID, and details of your finances (assets, income, debts and expenses). This will help prove you can service the loan repayments.
  3. Compare and apply online
    It's important to compare all your personal loan options before applying. You can start with some low interest rate personal loans in the table above.

Is the interest rate the only thing you need to look at?

Although it may be tempting to compare rates and just pick the lowest option, there are various other loan features you need to consider before you decide which loan to go with.

  • What type of loan do you need? Personal loans can be secured or unsecured and can come in the form of a lump sum payment (as is the case with most loans) or as a line of credit, as you find with personal overdrafts and line of credit loans. Determine what's the best for your borrowing needs.
  • What extra features does the loan come with? These could be easy account management in the form of a mobile app or online account, a redraw facility to access extra repayments or even frequent flyer points.
  • What is the eligibility criteria? You will generally need to be over the age of 18 and a permanent Australian resident or citizen. Most lenders also set a minimum income which is usually a minimum of $14,000 p.a. (for smaller loans). Eligibility criteria are outlined on all review pages.
  • How flexible is the loan? This is in terms of repayment flexibility, flexibility with the loan purpose, and with changes to your lifestyle. For instance, can you top up your personal loan if you need to?

Is there a catch with cheap low rate personal loans?

Low Interest Personal Loan Graph

When you compare low interest rate personal loans it's important to look at the loan as a whole product package, rather than just the interest rate. Comparing your options by the comparison rate rather than the advertised rate can also give you a better idea of the true cost of the loan, as this incorporates fees and charges.

You can also use a personal loan calculator to see if your repayments will be manageable on your budget.

What's the eligibility criteria?

Eligibility criteria will differ between loans, but generally, you will need to meet the following requirements:

  • Be over the age of 18
  • Have a good credit rating
  • Be an Australian citizen or permanent Australian resident

Check the criteria of individual loans on

How you can apply for a low interest rate personal loan

If you would like to apply for a personal loan with a low interest rate you can compare your options using the table above. Once you've found a loan you'd like to apply for you can click "Go to Site" apply. The information you are required to provide will be different depending on the type of loan you apply for, but you will most likely need to provide the following:

  • Personal details including your name, contact information and proof of identification
  • Name and contact details of your employer
  • Details of your employment including income amount and how you are employed eg full time, part time, etc.
  • Financial details including your assets, liabilities, and any other active credit accounts.

You can find a range of competitive options when you compare low interest rate personal loans. Make sure you consider a range of lenders to find the right loan for your needs and situation.

Was this content helpful to you? No  Yes

Related Posts

This page was last modified on 28 July 2017 at 10:40am.

RateSetter Personal Loan

Ratesetter allow you to get a personalised rate based on your credit score.

Citi Personal Loan Plus

Borrow up to $75,000. All approved applicants will receive the advertised variable rate of 11.99% p.a.

NOW FINANCE Personal Loans

Get rewarded with a low interest rate for your good credit history.

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

6 Responses

  1. Default Gravatar
    JosephAugust 22, 2016

    I just want no if i can get a lone on bad credit so i don’t have two wast my time an your time thank you

    • Staff
      ElizabethAugust 22, 2016Staff

      Hi Joseph,

      You can compare bad credit personal loans on this page. Keep in mind that different eligibility criteria will apply for each lender so take a look at the review page (where the criteria are listed) before you apply.

      I hope this helps,


  2. Default Gravatar
    DebMay 26, 2016

    I need to borrow $20k-$30k to assist my parents. I will need a loan that I will be able to pay out early without penalty but also have affordable repayments for the short term. Going crosseyed trying to compare them all – is there one type that would fit my criteria more than the others. Appreciate your help thanks

    • Staff
      ElizabethMay 26, 2016Staff

      Hi Deb,

      I’m unable to recommend a specific loan for you but I can provide you with some general information to help you narrow down your choices. Variable rate personal loans tend to come with less restrictive repayment terms so you may find more options here that will let you make extra repayments and pay your loan out ahead of time.

      In terms of keeping your repayments low in the short term, this is just where comparing your options comes into play. Unless you are purchasing a vehicle or have an asset worth 20-30k to use as security for the loan (in which case you can take out a car loan or a secured personal loan) you will need to take out an unsecured personal loan. Here, compare loans and look at the comparison rate to get a better idea of the total loan cost. You can use a personal loan calculator to get an idea of your repayments.

      Another option you can consider is a line of credit loan that will give you access to a specified limit that you then make regular repayments on and that you can repay in its entirety whenever you like.

      I hope all of this information helps,


  3. Default Gravatar
    SimonOctober 21, 2014

    I am looking to take out a personal loan for $2,000-$3,000. Can you please advise me of the best companies to go with. I have done a search of your website and many of the companies listed I have never heard of so I am a little reluctant to go with them. Any advice/help, much appreciated?

    • Staff
      ShirleyOctober 21, 2014Staff

      Hi Simon,

      Thanks for your question.

      Unfortunately we don’t recommend specific products, services or providers. We do compare personal loans from the bigger banks such as Westpac, ANZ and NAB. A good way to check the validity of a financial institution is to check their credit licence, which is usually stated on the bottom of their application or official page.

      If you’d like any help in this, please let me know.


Ask a question