Find the right
personal loan

The lowest personal loan rates in Australia typically start around 6% p.a. for secured loans and 7% p.a. for unsecured loans, though rates vary depending on the lender, loan amount, and your credit profile. Our comparison tool shows live rates so you can find the cheapest option for your situation.

A secured personal loan is backed by an asset (like a car or savings), which means lower rates because the lender has less risk. An unsecured personal loan has no collateral, so rates are higher but you don't risk losing an asset if you default. Secured loans are best for car purchases, while unsecured loans suit debt consolidation or travel.

Fixed-rate personal loans lock in your repayments for the life of the loan, making budgeting easier. Variable rates may start lower but can change over time. Most personal loans in Australia are fixed rate. Choose variable if you want the flexibility to make extra repayments or pay off the loan early without fees.

Most Australian lenders offer personal loans from $2,000 to $75,000, with some going up to $100,000. The amount you can borrow depends on your income, expenses, credit score, and the loan purpose. Secured loans typically allow higher amounts. Use our comparison tool to see what different lenders offer.

Common personal loan fees include establishment fees ($0-$400), monthly account-keeping fees ($0-$15), early repayment fees (often 1-2% of the remaining balance), and late payment fees. Some lenders advertise low rates but charge high fees, so always compare the comparison rate which factors in most charges.