Reduce Personal Loans

Borrow from $2,001 up to $35,000 with terms up to 5 years. Costs include establishment fees and interest charges.

Reduce Loans offers financing for a range of purposes, from home renovation to making a large purchase. The borrowing amounts for personal loans ranges from $2,001 up to $35,000, with terms from 6 months to 5 years. You can receive a rate estimate before applying. Interest rates are fixed, meaning that your repayments will remain constant throughout the lifetime of your loan. Their interest rate starts from 8.50% p.a., with a comparison rate of 14.32% p.a., and an establishment fee which will be based on how much you borrow.


From 8.50% (fixed)

Interest Rate (p.a.)

14.32%

Comparison Rate (p.a.)

$2,001

Min Loan Amount

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Details

Product NameReduce Personal Loans
Interest Rate (p.a.)
From 8.50% (fixed)
Comparison Rate (p.a.)14.32%
Interest Rate TypeFixed
Min Loan Amount$2,001
Max. Loan Amount$35,000
Loan SecurityUnsecured

Things to consider about Reduce Loans

This personal loan is unsecured and terms range from 6 months to 5 years. Interest rates are fixed and applied based on your credit score, so if you have good credit history you may secure a lower rate. Establishment fees come with this loan but they depend on how much you borrow.

Features of a personal loan from Reduce Loans

There's a number of features and benefits on offer that should be considered before you apply:

  • Rate estimate. You can receive a rate estimate before you apply. Just provide a few details and it won't affect your credit score.
  • Fast application and turnaround time. After you receive your rate estimate it only takes five minutes to complete your full application. You'll hear from Reduce Loans in two hours and receive a decision in 24 hours. If approved, you can receive your funds 48 hours later.
  • Loan amount. Borrow between $2,001 and $35,000. This flexibility makes the loan suitable for a range of loan purposes.
  • Loan terms. You have between 6 months and 5 years to repay your loan.
  • Repayments. There are no early repayment penalties and you can repay your entire loan early without penalty.
  • Loan management. You're able to manage your loan through an online portal throughout your loan term.
  • Establishment fees. The fees you are charged to establish the loan depend on how much you borrow. This will be outlined in your loan contract.

How you can apply with Reduce Loans

If you're ready to apply with Reduce Loans, click "Go to Site" to get your application started. The following eligibility criteria needs to be met in order for you to apply.

You must:

  • Be over the age of 21
  • Be an Australian citizen or permanent Australian resident
  • Have a regular source of income that you can demonstrate
  • Have a good credit history

The initial rate estimate only takes one minute and the full application takes five minutes. You will receive a response in two hours and a decision in 24 hours. If you're approved, you can have access to your funds 48 hours later.

Compare other personal loans

$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Symple Loans Personal Loan

From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10

You'll receive a variable rate from 5.75% p.a. to 25.99% p.a.

Borrow up to $50,000 and earn 1 Qantas Point for every $1 borrowed.

⭐Special Offer: Earn up to 50,000 Qantas Points with a personal loan from Symple.
Harmoney Unsecured Personal Loan

From 5.35% (fixed)
6.14%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
You'll receive a fixed rate between 5.35% p.a. and 19.09% 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.
SocietyOne Unsecured Personal Loan

From 6.45% (fixed)
6.45%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 6.45% p.a. and 20.49% 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.
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. (7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
NOW Finance No Fee Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
No Establishment Fee
$0
You'll receive a fixed rate between 5.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.
OurMoneyMarket Personal Loan

From 5.45% (fixed)
6.07%
$2,001
1 to 7 years
From $250
$0
You'll receive a fixed rate from 5.45% p.a. to 20.99% p.a. based on your risk profile.
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

⭐ Finder Exclusive: Apply before 31 January 2022 to secure a discounted rate of 5.45% p.a. (comparison rate: 6.07% p.a.) for the first 12 months on loans over $35,000. T&Cs apply.
Latitude Personal Loan (Unsecured)

From 7.99% (fixed)
9.31%
$3,000
1 to 7 years
$299 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 7.99% p.a. and 25.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly. You can check your interest rate before applying with no impact to your credit score.
ANZ Fixed Rate Personal Loan
8.99% (fixed)
9.88%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 8.99% p.a. with a comparison rate of 9.88% p.a. if you're approved.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

⭐Special Offer: A $500 cashback offer available for loans of $10,000 or more that been applied for before 28 February 2022. Loans approved and drawn down by this date are also eligible for the reduced rate of 8.99% p.a.
MoneyMe Personal Loans

From 6.25% (fixed)
7.64%
$2,100
1 to 5 years
from $295 to $495
$10
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
Wisr Personal Loan ($5,000 to $30,000)

From 6.49% (fixed)
6.49%
$5,000
3 to 7 years
$0 - Waived Establishment Fee
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer:The $595 establishment will be waived for unsecured personal loans between $5,000 and $30,000. Offer ends 31 January 2022. T&Cs apply.
Wisr Personal Loan ($30,001 to $64,000)

From 6.49% (fixed)
7.11%
$30,001
3 to 7 years
$595
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $30,001 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer:The $595 establishment will be waived for unsecured personal loans between $30,001 and $64,000. Offer ends 31 January 2022. T&Cs apply.
ANZ Variable Rate Personal Loan
10.50% (variable)
11.38%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 10.50% p.a. with a comparison rate of 11.38% p.a. if you're approved. Note: This rate may vary during the loan term.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.

⭐Special Offer: A $500 cashback offer available for loans of $10,000 or more that been applied for before 28 February 2022. Loans approved and drawn down by this date are also eligible for the reduced rate of 10.50% p.a.
NAB Personal Loan Unsecured Variable Rate

From 6.99% (variable)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 6.99% p.a. and 18.99% p.a. (7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
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Compare up to 4 providers

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 8.99% 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.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 5.95% 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.

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