Compare personal loans bywhat they cost in total, the comparison rate, your repayments, the fees, secured or unsecured or fixed or variable.what they cost in total.the comparison rate.your repayments.the fees.secured or unsecured.fixed or variable.

Lenders publish a "from" rate, the lowest in their range, and the rate offered depends on the applicant's credit history and income and on whether the loan is secured. The monthly Personal loan report gives the average rate of the loans BankMate lists, fixed against variable, and the lowest unsecured, secured and fee-free comparison rates. The lowest rates today sit at the top of this page.

On the same amount and term, since that is what the total cost depends on. Advertised rates are the bottom of each lender's range, and the comparison rate folds most fees into one rate. Loans also differ on security, fixed or variable rates and the fee to pay off early. BankMate lists 180+ loans from 60+ lenders, ranked by comparison rate; with an amount and term given, each is also priced in dollars of interest and fees.

A secured loan is backed by an asset, most often the car it pays for, which the lender can take if repayments stop. On the loans BankMate lists, secured loans usually have lower comparison rates than unsecured ones. An unsecured loan puts no asset at risk and can be used for most purposes, such as paying off debts, travel or home improvements.

A fixed rate keeps the repayments the same for the whole term. A variable rate can move up or down with the lender's rates, and with it the repayments. Both are common. On BankMate's list, the few loans that charge a fee to pay off early are almost all fixed-rate.

Most loans on BankMate's list start from $500 to $5,000 and lend up to somewhere between $50,000 and $150,000; secured loans go highest. Most run for up to 7 years. What a lender offers depends on income, expenses and credit history.

Most charge an establishment fee when the loan starts, from $0 to about $600 on BankMate's list. About a third also charge a monthly fee, up to about $25, and a few charge a fee to pay the loan off early. The comparison rate folds the establishment and ongoing fees into one rate, worked out on a $30,000 loan over 5 years, so it can differ from the cost of your own loan.