Compare unsecured personal loans – let your credit score do the talking

Whether it's a new jet ski or something less interesting, don't get ripped off by fees and high rates.

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years
1 - 10 of 151
Product Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
Harmoney Unsecured Personal Loan
Fixed3 - 7 Years $2,000 - $100,000
Harmoney logo
Interest Rate (p.a.)
5.76%
to 24.03%
Comp. Rate (p.a.)
5.76%
to 24.98%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$606.27
$0 establishment fee on new loans between June 16 and June 30
Revolut Unsecured Personal Loan
Fixed1 - 7 Years $5,000 - $50,000
Revolut logo
Interest Rate (p.a.)
6.56%
to 24.99%
Comp. Rate (p.a.)
6.56%
to 21.79%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$613.53
Apply online and then access your funds in minutes if you're approved. Pay no monthly or annual fees to use the loan and no early repayment fees.
NOW Finance No Fee Unsecured Personal Loan
Finder AwardFixed18 Months - 7 Years $5,000 - $50,000
NOW Finance logo
Interest Rate (p.a.)
6.45%
to 26.95%
Comp. Rate (p.a.)
6.45%
to 26.95%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$612.52
OurMoneyMarket logo
Interest Rate (p.a.)
6.28%
to 18.99%
Comp. Rate (p.a.)
6.28%
to 21.78%
Application Fee
$0
min.
Monthly Fee
$0
Monthly Repayment
$610.98
Latitude Variable Rate Personal Loan
Variable2 - 7 Years $5,000 - $100,000
Latitude Financial Services logo
Interest Rate (p.a.)
9.49%
to 29.99%
Comp. Rate (p.a.)
10.93%
to 31.38%
Application Fee
$0
Monthly Fee
$13
Monthly Repayment
$653.57
Great Southern Bank logo
Interest Rate (p.a.)
7.99%
to 19.99%
Comp. Rate (p.a.)
7.99%
to 19.99%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$626.64
MONEYME Personal Loans
Variable3 - 7 Years $5,000 - $50,000
MONEYME logo
Interest Rate (p.a.)
5.99%
to 24.49%
Comp. Rate (p.a.)
6.70%
to 25.90%
Application Fee
$0 - $495
Monthly Fee
$10
Monthly Repayment
$633.40
OurMoneyMarket Home Improvement Loan
Fixed1 - 7 Years $5,000 - $100,000
OurMoneyMarket logo
Interest Rate (p.a.)
6.28%
to 18.99%
Comp. Rate (p.a.)
6.28%
to 21.78%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$610.98
Jacaranda Finance Unsecured Personal Loan
Fixed25 Months $3,000 - $10,000
Jacaranda Finance logo
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
OurMoneyMarket Green Loan
Fixed1 - 10 Years $5,000 - $75,000
OurMoneyMarket logo
Interest Rate (p.a.)
6.28%
to 18.99%
Comp. Rate (p.a.)
6.28%
to 21.78%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$610.98
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How to compare unsecured personal loans

  • Look at the interest rate. A lower interest rate makes the loan cheaper. Borrowers with Excellent credit scores can get the lowest unsecured rates.
  • Factor in the cost of fees. Some lenders charge hefty fees. For smaller loan amounts of a few thousand dollars, even a small ongoing fee can end up costing you more than a lower-fee loan with a higher interest rate.
  • Choose your loan term and loan amount carefully. The more you borrow the more expensive the loan is. Longer loan terms mean you end up paying more interest. But shorter loan terms make your monthly repayments higher.
  • Check if the loan allows extra repayments. Most loans let you make extra repayments or pay off the loan early without charging fees. It's a useful feature. 47% of Australians in Finder's Consumer Sentiment Tracker say it's the most important feature on a personal loan.
  • Make sure you're eligible for the loan. Check you meet all the eligibility criteria before submitting an application. You'll need to be over 18, have proof of your income and personal identification documents at a minimum.

What is an unsecured personal loan?

With an unsecured personal loan you're borrowing money without putting up an asset (like a car) as security.

If you can't repay the loan there's nothing your lender can repossess and sell to recover your debt. Unsecured personal loans have slightly higher interest rates to compensate for the higher risk the lender is taking. They are typically easier to get than secured loans and rates can still be competitive.

With an unsecured loan you can borrow anywhere between $2,001 and $100,000 and terms range from 1 to 7 years.

The pros and cons of unsecured personal loans

Pros
  • Fast access to credit. Lenders don't have to assess an asset when you apply for an unsecured loan, so the approval process is faster.
  • Flexible loan options. These loans have flexible loan terms, loan amounts and often let you make extra repayments easily.
  • No assets at risk. You don't have to put a car or other asset up as collateral, so there's no risk of repossession, if you can't repay the loan.
Cons
  • Higher interest rates. While still competitive, the lowest personal loan rates in Australia are almost always going to be secured loans.
  • Risk of debt and credit score impact. Just because you haven't put up an asset doesn't mean failure to repay the loan won't hurt you. A default will harm your credit score and your lender can still pursue you for the debt in court.

What can I use an unsecured personal loan for?

Unsecured personal loans aren't tied to specific purposes in the way a home loan or a secured car loan is. They're quite flexible, and most lenders don't impose any restrictions on how you use the funds.

You can use an unsecured personal loan to:

Personal loan rate update: June 2025

  • Lowest unsecured personal loan rate: Harmoney Unsecured Personal Loan: 5.76% (comparison rate 6.55%).
  • Average unsecured personal loan rate in Finder's database: 11.04% p.a.
  • The average Australian with a personal loan borrows $7,328 with a 3 year term.
Richard Whitten
Market update by Richard Whitten – Finder money editor

Are there any risks with small or large unsecured loans?

Any money you borrow comes with risk if you can't repay it. The best way to minimise any risks that come a loan is to:

  1. Borrow only what you can afford to repay.
  2. Approaching a reputable, licensed lender (all lenders on Finder are licensed and reputable).
  3. Look at the comparison rate. It factors in the cost of all fees and the loan's interest rate.

The risks of taking out a large personal loan

Borrowing a lot of money is riskier than a small amount, generally speaking. A 5% interest on a small loan won't cost you as much in interest charges as the same rate on a much bigger loan.
Here's a simple example.

Loan ALoan B
Interest rate12%12%
Loan term3 years3 years
Loan amount$3,000$8,000
Total loan cost (loan plus interest)$3,588$9,566

These loans are otherwise identical, but the higher loan amount ends up costing the borrower more than $1,500 in interest. Whereas the smaller loan is just $588 of interest.

The risks of taking out a small personal loan

You might think that getting a very small unsecured personal loan is less risky. But if you want to borrow less than $2,000 you probably can't get a personal loan.

Borrowing under $2,000 means you're probably looking at a payday loan. These loans don't have standard interest charges, but come with hefty fees. The price of a small, fast unsecured loan can actually be much higher.

Do unsecured personal loans affect your credit score?

Applying for any loan impacts your credit score temporarily. That's why you should only apply for one product at a time and try to avoid getting your application rejected.

Aside from the initial impact of the application, taking out an unsecured personal loan won't necessarily hurt your credit score. If you make regular repayments and never miss one this will probably benefit your credit score.

Having multiple loans at the same time may hurt your credit score. And debts like credit cards or personal loans can have a bigger impact than something like a home loan.

Button link: Tips to improve your credit score

Who offers unsecured personal loans?

Unsecured personal loans are offered both by large, traditional banks such as NAB, and non-bank lenders like OMM or Harmoney. Non-banks are governed by the same regulations as banks, so both are safe and secure options for your borrowing needs.

The key difference between a bank and a non-bank is that non-banks hold a credit licence and not a banking licence. This means that they cannot provide some banking services, such as taking deposits. If you prefer to do all your banking in the same place, you may want to stick to the banks.

Typically, non-banks offer more competitive rates, with lower set-up and ongoing fees. However, they may have fewer loan options compared to traditional banks. Non-banks can also be more flexible and may provide better, personalised service when compared to traditional banks.

Frequently asked questions about unsecured personal loans

Why compare personal loans with Finder?

freeAddicted 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)
expert adviceRates 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.
independentCash for whatever you need. Lending rates verified from 180+ products day and night. Whether you're buying a car, rennovating your home or heck just ready to let loose with the spending - we got you.
Richard Whitten's headshot
To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten as part of our fact-checking process.
Rebecca Pike's headshot
Written by

Senior Money Writer

Rebecca Pike is Finder’s senior money writer, with over 10 years of experience in mortgages and personal finance. A frequent TV and radio commentator, she frequently appears on Sunrise, A Current Affair, 9News, and Sky News, and contributes expert analysis to publications like Yahoo Finance and The Latch. Rebecca previously served as Editor of Mortgage Professional Australia. She has a Master’s degree in Journalism as well as ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, which comply with ASIC guidelines. See full bio

Rebecca's expertise
Rebecca has written 236 Finder guides across topics including:
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Co-written by

Personal finance expert + media spokesperson

With over 20 years of experience in property, finance and investment journalism, Sarah is a trusted expert whose insights regularly appear across television, radio, and print media, including Sunrise, ABC News, and Yahoo! Finance. She has previously served as managing editor for Your Investment Property and Australian Broker, and her expert advice has been shared over 2,500 times in 2023-2024 alone. Sarah holds a Bachelor’s degree in Communications and a Tier 1 Generic Knowledge certification, which complies with ASIC standards. See full bio

Sarah's expertise
Sarah has written 200 Finder guides across topics including:
  • Home loans
  • Personal finance
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