How to add to an existing personal loan

Not all lenders will allow you to top up your personal loan – fees, restrictions and eligibility criteria apply.

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Elizabeth Barry

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Key takeaways

  • If you have an existing personal loan and are hit with unexpected expenses, you may be considering a loan top-up.
  • This allows you to add more funds to your existing loan amount, so you can keep all of your debt in one place and stay with your current lender.
  • Find out how you can get a loan top-up and whether you’re eligible.

First, what is a personal loan "top up"?

A personal loan top up is where you add a certain amount on to a personal loan you already have. This involves submitting another personal loan application with your existing lender and signing a new credit contract. Depending on how much your repayments are increased by you may want to extend your loan terms during this process.

Should I top up my loan or take out a new one?

If you are in need of extra funds, you might be considering whether it’s better to top up your existing loan or to apply for a new loan to consolidate your old and new debt. Weigh up the pros and cons of both options before you apply:

ProsCons
Top up an existing loan
  • The convenience of staying with the same lender
  • May have more of a chance of being approved
  • Application fees
  • Possible restrictions to loan top-ups
Apply for a new personal loan
  • You may find a more competitive loan and reduce what you're paying
  • A possibility of early repayment fees with your current loan

What should I check before topping up my personal loan?

Before applying for a personal loan top-up, ask your lender the following questions:

  • What fees will I be charged? Most banks will charge a single $100-$200 administration fee if you decide to top up your loan. This fee might be higher, lower or even non-existent depending on what kind of top-up options your lender offers. You need to check this before you apply.
  • Are there any restrictions to topping up my personal loan? You may not be able to apply for a personal loan top-up in the first 12 months of your loan or you may need to have a certain percentage of your loan paid off. Check if any restrictions apply.
  • Am I eligible for a personal loan top-up? You will need to meet certain criteria for a personal loan top-up. For example, you may need to meet the same eligibility criteria that were set when you applied for the personal loan. If your personal circumstances have changed, check the criteria again to ensure you can still apply.

Compare personal loans that allow top ups

NOW Finance No Fee Unsecured Personal Loan

NOW Finance No Fee Unsecured Personal Loan

From

5.95 % p.a.

fixed rate

From

5.95 % p.a.

comparison rate

  • A competitive fixed rate
  • Apply for up to $50,000
  • Receive your funds in 24 hours
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100% confidential application

NOW Finance No Fee Unsecured Personal Loan

An unsecured personal loan with personalised interest rates and a fast application process. There are no fees, flexible repayment options and you can pay out the loan early with no penalty.

  • Interest rate from: 5.95% p.a.
  • Comparison rate: 5.95% p.a.
  • Interest rate type: Fixed
  • Application fee: $0
  • Minimum loan amount: $5,000
  • Maximum loan amount: $50,000
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Promoted
$
years
4 of 27 results
Checked 14 November 2026
Interest rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
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.
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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+.
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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.
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NAB logo
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.
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Will my loan top-up be listed on my credit report?

Yes. Your credit report shows your debt history and the state of your finances. It’s used by lenders to determine whether you are likely to be able to pay a loan back, and loan top-ups are relevant to this.

When you top up a loan, it gives you more outstanding debt than before, which naturally appears on credit report. You can check your credit report and credit score for free with finder, so you may want to do this before you apply for a loan top-up.

Get your free credit report and score

Check if your lender allows personal loan top-ups

Select your lender from the list below to see if personal loan top-ups are allowed and what loan restrictions may apply.

LenderAllows top ups?Criteria
ANZYesA loan approval fee may apply. To be eligible:
  • 18 years or older
  • Earn $15,000 p.a.
  • Australian citizen, permanent resident or have a valid visa
Bank AusraliaNoN/A
Bank of MelbourneYesA loan approval fee may apply. To be eligible:
  • 18 years or older
  • Have an Australian residential address
BankSAYesA loan approval fee may apply. To be eligible:
  • 18 years or older
  • Have an Australian residential address
BankwestNoN/A
Bendigo BankNoN/A
BOQNoN/A
CitiNoN/A
CommBankYesA loan approval fee may apply. To be eligible:
  • 18 years or older
  • Have a good credit rating
  • Australian citizen, permanent resident, New Zealand citizen or hold a 457 visa
  • Not an undischarged bankrupt
  • Be employed
  • Lives in Australia
  • Meet minimum income requirements
Great Southern BankNoN/A
Gateway BankNoN/A
IMBNoN/A
LatitudeNoN/A
loans.com.auNoN/A
MENoN/A
MoneyplaceNoN/A
MyState BankNoN/A
NABYesYou can't increase your loan amount if you have already borrowed the maximum loan amount of $55,000. To be eligible:
  • 18 years or older
  • Australian citizen or permanent resident
  • Earn a regular income
  • Be able to afford the loan repayments
Now FinanceYesA loan approval fee may apply. To be eligible:
  • 18 years or older
  • Australian citizen or permanent resident (not on 457 visa)
  • Be employed full-time, part-time, self-employed or casually (casual employees must be employed longer than six months)
NRMANoN/A
Pepper MoneyNoN/A
PlentiYesYou can apply for a loan top-up if you've made at least six monthly payments towards your existing Plenti loan. Eligibility criteria:
  • 18 years or older
  • Australian citizen or permanent resident (not on 457 visa)
  • Be employed full-time, part-time, self-employed or casually (casual employees must be employed longer than six months)
RACQNoN/A
RACVNoN/A
SocietyOneNoN/A
St.GeorgeYesA loan approval fee may apply. To be eligible:
  • 18 years or older
  • Have an Australian residential address
WestpacYesA loan approval fee may apply. To be eligible:
  • 18 years or older
  • Have an Australian residential address

How do I top up my personal loan?

Topping up a personal loan involves a couple of steps:

  1. The first step is to decide whether a top-up loan is the best solution for your particular situation or if there are other options that are more suitable. There may be fees for simply inquiring about a top-up or for assessing your eligibility, which is why it’s a good idea to be certain before you apply.
  2. Contact your lender. They tend to handle applications on a case-by-case basis and can either accept or decline your top-up application. They may want to discuss your financial needs, check your credit file and assess your eligibility before deciding whether to go ahead with a top-up.
  3. Once your personal loan is topped up, you will need to continue managing your debt.

What to do if your lender doesn't allow a personal loan top-up

As you can see from the table above, not every lender will allow you to add extra funds on top of your personal loan. If you are looking to take out additional funds and you can't do so with your current lender, you can consider refinancing your personal loan. This will allow you to move your remaining debt to another lender as well as borrow additional money.

When you apply to refinance your personal loan you may list the reason for borrowing as "refinancing" or for the purpose you need the extra money. However, keep in mind that the lender will be able to see you already have a personal loan, listing the purpose as "refinancing" will make it clear that you will close your current loan if you are approved.

Am I eligible for a personal loan top-up?

Eligibility requirements for loan top-ups vary depending on the lender. One bank might let you top up while another won’t. Generally, the requirements for topping up are similar to the requirements for taking out a whole new loan. However, they are usually considered on a case-by-case basis for existing customers, which means the requirements tend to be on the more lenient side. The following factors may affect your eligibility for a top-up loan.

  • Having a history of late repayments with your lender
  • If your loan has only been active for a short period of time
  • If your circumstances have changed since you first applied for your personal loan.
  • Having defaults on your credit report, which are payments of $150 or more overdue by 60 days or more

Your bank may also have particular top-up eligibility requirements. If you’ve decided that a top-up is the right course of action for your needs, the easiest way to find out whether you’re eligible is to contact your lender.

Frequently Asked Questions

How to refinance your personal loan

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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

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Elizabeth has written 147 Finder guides across topics including:
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