Does it cost more to use a personal loan broker?

Using a broker doesn't usually cost you directly. Most are paid via a commission from the lender rather than a fee from you. Some brokers do charge a one-off fee rather than an ongoing monthly one, and this is often negotiable. Keep in mind the commission structure means a broker may be more inclined to recommend lenders that pay them the most, so it's worth comparing their recommendation against the market yourself before committing. Selecting the right loan requires analysing the application fees, monthly fees and interest rate. If you don't have time to compare personal loans, using a broker could save you a considerable amount of money over the life of the loan.

Can I take out a loan from my current bank via a broker?

Brokers offer products from lenders that are within their lending panel, that is, lenders that they have a relationship with. If your current bank is within the broker's lending panel and it offers a competitive product, then yes, you might end up borrowing from your current bank. However, your broker should be looking for the best value option for you.

Can I stop using the broker's services, or switch to another broker, once I have my loan?

This will depend on the terms and conditions of your contract. Make sure you read and understand all of them before you sign on the dotted line. You will generally need to cancel the loan and take out a fresh one if you wish to change brokers.

Can you get a broker for a personal loan?

Yes, you can use a broker to help you find and apply for a personal loan. A personal loan broker works with multiple lenders to find a loan that best suits your needs and financial situation. They can save you time by comparing various options and may have access to exclusive deals or rates not available directly to consumers.

How much do personal loan brokers charge?

Personal loan brokers may charge a fee for their services, but in many cases, they receive a commission from the lender, meaning their services might be free for borrowers. If a fee is charged, it is usually a percentage of the loan amount or a flat fee. It's worth ask about any potential costs upfront before engaging a broker, although they are required by law to be transparent about the commissions and benefits they earn from arranging your loan.

Is it easier to get a loan through a broker?

Brokers have access to a wide range of lenders, including specialist lenders who deal with non-conforming traditional loans. For this reason, they can match you with a loan that fits your credit profile and financial needs. This doesn't mean its necesarily easier to get a loan, but you will have access to a wider range of lenders. Brokers may also have relationships with lenders that can help smooth the approval process, especially if you have a complex financial situation.

Do brokers offer loans?

Brokers do not offer loans directly; instead, they facilitate the process of obtaining a loan by connecting borrowers with lenders. They help you compare loan options, complete the application process and finalise terms, but the actual loan is provided by a financial institution, not the broker.

Personal loan brokers

Compare both broker-assisted and direct-loan options to ensure you're getting the best rate and terms.
Always check a broker's fees and lending panel size before committing, as this can impact your loan choices.
Use Finder's comparison tools alongside broker support to avoid missing better deals outside a broker's network.

15 of 232 results

Interest rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
NOW Finance No Fee Unsecured Personal Loan Finder AwardFixed18 Months - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 5.95% to 26.95%	Comp. Rate (p.a.) 5.95% to 26.95%	Application Fee $0	Monthly Fee $0	Monthly Repayment $607.99	Borrow up to $50,000 for any worthwhile purchase and pay no establishment or ongoing fees without providing collateral. You can also benefit from a more competitive interest rate if you have a strong credit score.	Go to site View details Compare product selectionCompare	loading
ING Personal Loan Most LovedFixed2 - 7 Years $5,000 - $60,000	Interest Rate (p.a.) 6.19% to 19.99%	Comp. Rate (p.a.) 7.03% to 20.78%	Application Fee $199	Monthly Fee $8	Monthly Repayment $624.23	No early repayment fees and same-day funding for existing ING customers. Eligibility: Applicants must be 18+, Australian/ NZ citizen or permanent resident of Australia, and earning at least $36,000 a year (before tax) with PAYG payslips.	Go to site View details Compare product selectionCompare	loading
Revolut Unsecured Personal Loan Fixed1 - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 6.99% to 24.49%	Comp. Rate (p.a.) 6.99% to 25.32%	Application Fee $0	Monthly Fee $0	Monthly Repayment $617.45	Limited Time Offer: Apply in-app and access your funds in minutes if approved. New User Offer: Get a A$50 cash reward when you make your first repayment within 90 days of joining Revolut. Offer ends 31 Dec 2026. T&Cs apply.	Eligibility: Must be an Australian/NZ citizen or permanent resident, employed for 3+ months, earning at least $2,000/month, with a recommended Equifax credit score of 500+.	Go to site View details Compare product selectionCompare	loading
Latitude Variable Rate Unsecured Personal Loan ExclusiveVariable2 - 7 Years $5,000 - $200,000	Interest Rate (p.a.) 9.99% to 29.39%	Comp. Rate (p.a.) 11.10% to 30.29%	Application Fee $0	Monthly Fee $16.50	Monthly Repayment $661.75	Finder exclusive: $395 establishment fee waived for approved personal loan applications for a limited time. Latitude may withdraw the offer at any time. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
NAB Unsecured Fixed Rate Personal Loan Fixed1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 7.50% to 22.00%	Comp. Rate (p.a.) 8.54% to 22.88%	Application Fee $0	Monthly Fee $15	Monthly Repayment $637.12	$250 application fee is waived for valid applications started from 8 October 2026 until 3 December 2026. Applications must be completed within 30 days. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
NAB Unsecured Variable Rate Personal Loan Variable1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 7.50% to 22.00%	Comp. Rate (p.a.) 8.54% to 22.88%	Application Fee $0	Monthly Fee $15	Monthly Repayment $637.12	$250 application fee is waived for valid applications started from 8 October 2026 until 3 December 2026. Applications must be completed within 30 days. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Latitude Fixed Rate Unsecured Personal Loan ExclusiveFixed2 - 7 Years $5,000 - $200,000	Interest Rate (p.a.) 9.99% to 29.39%	Comp. Rate (p.a.) 11.10% to 30.29%	Application Fee $0	Monthly Fee $16.50	Monthly Repayment $661.75	Finder exclusive: $395 establishment fee waived for approved personal loan applications for a limited time. Latitude may withdraw the offer at any time. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Jacaranda Finance Unsecured Personal Loan Fixed25 Months - 3 Years $3,000 - $15,000	Interest Rate (p.a.) 27.95% to 29.95%	Comp. Rate (p.a.) 44.50% to 46.50%	Application Fee $13.50 - $950	Monthly Fee $26	Monthly Repayment $892	Go to site View details Compare product selectionCompare	loading
OurMoneyMarket Unsecured Low-Rate Personal Loan ($20,000-$100,000) ExclusiveFixed1 - 7 Years $20,000 - $100,000	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $607.99	Finder exclusive: Receive a $100 eGift Card if you have Excellent Credit (as determined by OMM’s credit assessment and scorecard), apply via Finder by 30 November 2026, and settle by 15 December 2026. For loans between $20,000 and $100,000 only. T&Cs apply.	Eligibility: Applicants must have an Equifax credit score of 500 or above, an annual income of more than $25k, and must be an Australian citizen or permanent resident.	Go to site View details Compare product selectionCompare	loading
OurMoneyMarket Unsecured Low-Rate Personal Loan ($20,000-$100,000) - Excellent Credit ExclusiveVariable1 - 7 Years $20,000 - $100,000	Interest Rate (p.a.) 5.95% to 5.95%	Comp. Rate (p.a.) 5.95% to 5.95%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $607.99	Finder exclusive: Receive a $100 eGift Card if you have Excellent Credit (as determined by OMM’s credit assessment and scorecard), apply via Finder by 30 November 2026, and settle by 15 December 2026. For loans between $20,000 and $100,000 only. T&Cs apply.	Eligibility: Applicants must have an Equifax credit score of 500 or above, an annual income of more than $25k, and must be an Australian citizen or permanent resident.	Go to site View details Compare product selectionCompare	loading
OurMoneyMarket Unsecured Low-Rate Personal Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $607.99	No monthly or early exit fees. Loan amounts range from $5,000 to $75,000, and up to $100,000 for home improvement projects and motor vehicles. Eligibility: Applicants must have an Equifax credit score of 500 or above, an annual income of more than $25k, and must be an Australian citizen or permanent resident.	Go to site View details Compare product selectionCompare	loading
Latitude Fixed Rate Secured Personal Loan Variable2 - 7 Years $5,000 - $200,000	Interest Rate (p.a.) 8.99% to 28.39%	Comp. Rate (p.a.) 10.11% to 29.29%	Application Fee $0	Monthly Fee $16.50	Monthly Repayment $652.40	$395 establishment fee waived for approved personal loan applications for a limited time. Latitude may withdraw the offer at any time. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Fair Go Finance Medium Loan Fixed6 Months - 2 Years $2,001 - $5,000	Interest Rate (p.a.) 29.90% to 59.20%	Comp. Rate (p.a.) 47% to 64.99%	Application Fee $400	Monthly Fee $18	Monthly Repayment $882.90	Go to site View details Compare product selectionCompare	loading
Latitude Variable Rate Secured Personal Loan Variable2 - 7 Years $5,000 - $200,000	Interest Rate (p.a.) 8.99% to 28.39%	Comp. Rate (p.a.) 10.11% to 29.29%	Application Fee $0	Monthly Fee $16.50	Monthly Repayment $652.40	$395 establishment fee waived for approved personal loan applications for a limited time. Latitude may withdraw the offer at any time. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Fair Go Finance Large Loan Fixed16 Months - 2 Years $5,050 - $10,000	Interest Rate (p.a.) 21.90% to 29.21%	Comp. Rate (p.a.) 25.90% to 33.76%	Application Fee $795	Monthly Fee $14	Monthly Repayment $807.10	Go to site View details Compare product selectionCompare	loading

Showing 15 of 15 results

How do personal loan brokers work?

Personal loan brokers will work with you to find the right personal loan.

They can help you with the full range of personal loan products offered by lenders for any loan purpose. That includes debt consolidation loans, holiday loans, renovation loans or car loans.

Personal loan brokers search for a loan within their lending panel. This is a set group of lenders that they deal with.

Instead of applying directly with a lender, you apply for a loan via the broker instead. Most personal loan brokers offer online applications and loan management, so there is no need to book an appointment or sign and post documents, which can save you time.

Are personal loan brokers worth considering?

Personal loan brokers, like mortgage brokers, work with you to find the best personal loan for your circumstances.

This means that as well as helping you find the best cost, they'll make sure you fit the eligibility criteria, that it's suited to your loan purpose and you have the features you may need.

While it can be helpful to have a professional ensure you find a good deal, you should keep in mind that your own personal loan comparison can be quick, easy, and free.

Personal loans aren't really as complex as products like home loans, so comparing personal loans on a comparison site like Finder is usually enough.

If you have a more complex loan purpose, non-standard forms of income or you're worried about your credit score, you might be more comfortable using a personal loan broker. They will have more knowledge of lender criteria and may be able to get you a lower rate.

What are the pros and cons of using a personal loan broker?

Pros

Convenience. Rather than only comparing the market yourself, a personal loan broker can do some of the legwork, (though you should still try to do at least some of your own research). You'll also have the benefit of a single contact for the total term of your loan.
They are experts in their field. A broker is usually required to have either a Certificate IV in Finance and Mortgage Broking (FNS40821), or more commonly a Diploma of Finance and Mortgage Broking Management (FNS50322), which many aggregators and lenders require in addition to the Certificate IV.
They're licensed and regulated. Personal loan brokers must hold an Australian credit licence (or be an authorised credit representative of one) and must meet responsible lending obligations when recommending a loan for your situation.
They tailor their options. A broker can help to find you the best loan option for your unique circumstances.
Can help bad credit applicants. Brokers may be particularly useful if you have a poor credit score or trouble meeting the standard lending requirements at larger financial institutions.
Can help you maintain your score. Using a broker can help you maintain a good credit score by preventing unnecessary applications and potential rejections from multiple lenders. Brokers have a good understanding of different lending requirements of various lenders, so they won’t recommend products that you are likely to be rejected for.

Cons

A broker's interests may not align with yours. Despite ASIC's measures to protect consumers from being given bad financial advice, brokers still generally work on a commission basis. This means that some brokers may be inclined to direct you towards the lender paying the highest commission, rather than the one that would give you the best deal.
You may have to pay a broker fee. While most brokers work on commission from lenders, some may charge you for their services. On the plus side, while this will incur a cost to you, it could put your mind at rest that you are not being steered towards a higher charging lender.
Some lenders don't work with personal loan brokers. Not all lenders choose to work with brokers. This could mean that there are better deals on the market than those that your broker has access to. This is why it's important to also do your own market research.
Brokers cannot guarantee your rate. Brokers can accurately estimate your rate, fees, etc. for a certain loan, but they cannot guarantee them for you. Lenders still have the right to charge you more based on their view of your financial viability.

Don't use a broker if you only need a small loan amount to avoid using a credit card, then a broker isn't suitable for you. Loan brokers often have different minimum loan amount requirements to the lenders themselves. Some credit unions and smaller banks will lend as little as $2,000 unsecured, whereas brokers typically won't deal with less than $5,000.

How to find a good broker

Loans offered. Make sure the broker you are considering offers the type of loan that you require.
Type of interest. Most brokers offer fixed interest loans only.
Loan conditions. Can you pay the loan out sooner, make additional repayments or redraw on overpaid amounts? Make sure you can access these services without having to pay a fee.
Lending panel. This is the group of lenders from which your broker will choose a loan. The bigger the panel, the greater the chance of you getting the best deal available.
How they work. Some brokers operate almost entirely online, whereas others use the more traditional phone, fax and mail. Make sure you’re comfortable with whichever system your broker uses.
Funding time. Brokers have different speeds at which they are able to approve and fund your loan. If you are in a hurry, an online-based broker should be able to approve your loan faster than a paper-based one.
Customer service. You will be dealing with the broker for the term of your loan, so make sure you are happy with the level of service they provide. Call them to see how long it takes to get an answer and find out what kind of support they offer.

What to avoid with personal loan brokers

A small lending panel. The more lenders your broker has access to, the better your chance of getting the best loan available. Make sure your broker compares a large range of options, otherwise you might as well just do it yourself.
Commissions. There isn’t anything wrong with a broker being paid a commission, just be sure of what the commissions are and how they affect the broker’s recommendations. Less honest brokers might push lenders that pay them higher, rather than the ones that offer the best option for you.
Fees and charges. Understand the fees and charges that you will have to pay. Ensure that they are all clearly explained to you before you commit to your broker and the loan. It may be worth doing a quick comparison with your current bank, just to get an idea of what you could get without assistance.

Australians borrowing more

According to the ABS, Australians took out $9.7 billion in fixed-term personal loans in the June quarter 2026, up 7.1% on the same quarter a year earlier.

Source: Australian Bureau of Statistics, Lending Indicators

Alternatives to personal loan brokers

There are other ways to get a personal loan:

Compare rates yourself
By visiting a range of lender websites, you can get an idea of what different lenders are charging, what their eligibility criteria are and how much you can borrow.However, this is time consuming and could be confusing for prospective loan customers who aren't sure where to look.
Compare the options in the table above
At Finder, we compare the market so that you don't have to. You can compare interest rates and fees in the table of lenders above to find a loan that suits you.For more information on the eligibility criteria involved in the loans, available loan amounts, features and fees of each loan, simply click "More info". Or, to be securely routed to the lender's website directly to submit an application, simply click "Go to site".

Why compare personal loans with Finder?

Addicted to details. We know taking out a personal loan is something you'll be hooked up with for a while. That's why we put hours into research for this guide (and still do at least once a month)

Rates obsessed. Lenders come in all shapes and sizes, that's why we don't just track the big banks, but all the digi folk too. Pretty much everyone but your parents to be honest.

Cash for whatever you need. Lending rates verified from 180+ products day and night. Whether you're buying a car, renovating your home or heck just ready to let loose with the spending - we got you.

Frequently asked questions about personal loan brokers?

Using a broker doesn't usually cost you directly. Most are paid via a commission from the lender rather than a fee from you. Some brokers do charge a one-off fee rather than an ongoing monthly one, and this is often negotiable. Keep in mind the commission structure means a broker may be more inclined to recommend lenders that pay them the most, so it's worth comparing their recommendation against the market yourself before committing.
Selecting the right loan requires analysing the application fees, monthly fees and interest rate. If you don't have time to compare personal loans, using a broker could save you a considerable amount of money over the life of the loan.
Brokers offer products from lenders that are within their lending panel, that is, lenders that they have a relationship with. If your current bank is within the broker's lending panel and it offers a competitive product, then yes, you might end up borrowing from your current bank. However, your broker should be looking for the best value option for you.
Personal loan brokers may charge a fee for their services, but in many cases, they receive a commission from the lender, meaning their services might be free for borrowers. If a fee is charged, it is usually a percentage of the loan amount or a flat fee. It's worth ask about any potential costs upfront before engaging a broker, although they are required by law to be transparent about the commissions and benefits they earn from arranging your loan.
Brokers have access to a wide range of lenders, including specialist lenders who deal with non-conforming traditional loans. For this reason, they can match you with a loan that fits your credit profile and financial needs. This doesn't mean its necesarily easier to get a loan, but you will have access to a wider range of lenders. Brokers may also have relationships with lenders that can help smooth the approval process, especially if you have a complex financial situation.

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Lending Indicators, Australian Bureau of Statistics

Thank you for your feedback!

Written by

Elizabeth Barry

Journalist

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Elizabeth Barry is an experienced journalist with over 10 years of expertise in personal finance, contributing to outlets like the ABC, Sydney Morning Herald, and 7News. She holds a Master of Arts in Creative Writing and a Bachelor of Arts in Communication from the University of Technology Sydney, and has earned multiple award nominations, including a Highly Commended recognition at the 2017 Lizzies. Elizabeth began her career at Finder in 2013, progressing through roles to become Lead Editor, where she oversaw a wide range of personal finance coverage until 2024. See full bio

Elizabeth's expertise

Elizabeth has written 151 Finder guides across topics including:

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Bria Horne

Writer

Bria Horne was a writer for Finder, with a specialist knowledge of personal loans, car loans and business loans. Originally from the UK, Bria has been a professional personal finance writer in Australia for over 2 years. She has an M.A and B.A in Philosophy and Literature from the University of Sussex, and previously worked on the UK’s leading hospitality publication. See full bio

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26 Responses

LukeMarch 23, 2018

Hello, I have been bankrupt since 01/06/2017. I need to borrow $5000 to purchase a car. Can you recommend a broker to assist me. I’ve tried and have found the interest rate to be over 50%. Why do I have to be punished further do to unforeseen circumstances

Finder

JeniMarch 23, 2018Finder

Hi Luke,

Thank you for getting in touch with Finder.

Some lenders consider applicants if they’ve been discharged from bankruptcy or are currently bankrupt. However, please note that the fees and rates will be considerably higher on bankrupt loans. You will see a table with a list of lenders who consider bankrupt or discharged bankrupt applicants. You may click the name of those with check marks to read further details such as minimum and maximum loan amount, fees, loan term, turnaround time as well as their pros and cons.

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.

As a friendly reminder, please ensure that you read the Product Disclosure Statement or Terms & Conditions before making a decision and consider whether it is right for you

I hope this helps.

Have a great day!

Cheers,
Jeni

KieranSeptember 15, 2017

Can you recommend a personal loan broker . I live in Sydney. Thank you.

Finder

HaroldSeptember 15, 2017Finder

Hi Kieran,

Thank you for your inquiry.

I’m afraid there is no personal loan broker featured on our website, only a mortgage broker who can take your personal circumstances into account and offer you a range of borrowing options. Personal loan brokers work in a similar way to mortgage brokers, they help you find a good deal on your loan. You can also use ASIC Connect’s Professional Registers for assistance.

I hope this information has helped.

Cheers,
Harold

GeoffAugust 10, 2017

Was trying to find a personal loan broker in Perth to get me a small loan between $5000 and $10000 to move home and also help improve my credit rating. Not sure how my rating is now but think it is not really bad.

JonathanAugust 10, 2017

Hello Geoff,

Thank you for your inquiry.

As of this writing, we don’t have a dedicated page yet for personal loan brokers per state however, you can check our list of personal loans of up to $10,000 regardless of your credit rating. Please take time to review the fine print of each product/lender. By doing so, you’ll be able to make a better decision.

Moreover, you may also want to consider getting your credit score first before applying for a loan. This way, you will know your creditworthiness and your chance of getting approved.

Hope this helps.

Cheers,
Jonathan

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Personal loan brokers

A personal loan broker can save you time and help you find the right loan.