Personal Loan Comparison Australia – Compare Rates 2020

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Unsecured Loans

Looking for a personal loan to suit you?

“Sponsored” products are displayed first within the search results pages and can be re-sorted without this filter by de-selecting the “Show sponsored listings first” checkbox. For more information on how we’ve selected these “Sponsored” and “Featured” products click here. The default sort is based on lowest monthly repayment.

The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless otherwise indicated in the product name with^, in which case, the comparison rate is based on a loan of $10,000 and a term of 3 years.
The comparison rates are for unsecured personal loans only for the relevant amounts and terms. The comparison rates for car loans and secured personal loans are for secured loans unless indicated otherwise.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

Get your free InfoChoice Property report.

Unsecured Personal Loans

An unsecured loan allows you to access extra funds without needing to put up an asset as collateral. Bear in mind that they may carry a higher interest rate than secured personal loans, as there is no asset for the lender to recover if you default on repayments.

Our comparison table details the maximum cost, minimum monthly repayments and current interest rates for unsecured loans from a range of banks and credit unions.

Important information about this website

Who we are

InfoChoice is one of Australia’s leading financial services comparison website. We’ve been helping Aussies find great offers on everything from credit cards and home loans to savings and personal loans and more for over 25 years.

InfoChoice lists more than 3,000 financial products from 145 Australian banks, credit unions, building societies and non-bank lenders.

We are not owned by a bank or an insurance company. InfoChoice, its directors, officers and/or Representatives do not have any ownership of any financial or credit products or platform providers that would influence us when we provide general advice. We may receive fees and commissions from product providers for services we provide as detailed below.

Important Information

Although we cover a range of products, providers and services we don’t cover every product, provider or service available in the market. Products compared may not compare all features and options that may be relevant you. Not all products offered by each supplier may be compared. The information and products contained on this website do not constitute recommendations or suggestions to purchase or apply for any particular product. Any advice provided on this website is of a general nature and does not take into account your objectives, financial situation or needs. Products included on this site may not suit your personal objectives, financial situation or needs. InfoChoice is not a product issuer or a credit provider and does not provide personal financial advice or credit assistance.

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If InfoChoice refers you to a provider, you will be dealing with that provider directly and not with us. InfoChoice accepts no liability in respect to any financial or credit product which you elect to acquire from any provider.

By providing you with the ability to apply for an insurance quote or a credit facility we are not guaranteeing that your application will be approved. Your application is subject to the Provider’s terms, conditions and criteria.

Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product. If you are considering acquiring any financial product you should obtain and read the relevant Product Disclosure Statement or other offer document prior to making an investment decision.

We endeavour to provide you with up to date and accurate information, however, on some occasions InfoChoice website may have some product changes that have not been reflected due to the large volume of products we compare and our reliance on product providers. InfoChoice will not accept liability for incorrect information. You should confirm any information with the product provider and read the information they provide.

Please take an opportunity to read InfoChoice’s Privacy Policy, Terms of Use Policy and Financial Service Guide and Credit Guide (FSCG).

Always free for you

Our service is free – no hidden fees or mark ups.

How we make money

“Sponsored” products are products offered by a provider with which InfoChoice has a commercial marketing arrangement in place.

“Sponsored” products are displayed first within the search results pages and can be re-sorted without this filter by de-selecting the “Show sponsored listings first”. They will have a link to a product provider’s website should you wish to get more information or apply for the product. InfoChoice has a commercial relationship with these product providers and may receive a commission, referral, fee or payment from a provider when you click on a link to a product.

Fees for clicks referred to product providers on the following basis:

  • Cost per Click (CPA) for click referred from the InfoChoice website to a product provider
  • Cost per Application (CPA) for completed applications that resulted from clicks referred from the InfoChoice website to a product provider.
  • Cost per Approved Application (CPAA) for completed approved applications that resulted from clicks referred from the InfoChoice website to a product provider.
  • Cost per Lead (CPL) for enquiries referred to a product provider or where enquiries result from referred clicks from the InfoChoice website to a product provider.
  • Commission share on referrals to third party advice providers.
Advertisement

“Featured” Products and “Advertisement” are a form of advertising. InfoChoice may receive a commission, referral, fee, payment or advertising fees from a provider when you click on a link to a product. We may sort or promote the order of these products based on our commercial arrangements.

Advertising fees from product providers for product advertisements through emails, sponsored content or placement on the InfoChoice website are based on Cost per Impression, Cost per Click, Cost per Application, Cost per Approved Application, Cost per Lead, Fixed Sponsorship/Advertising fee or a combination.

InfoChoice may also receive fees from product providers for the following activities:

  • Subscription fees for data provision
  • Fixed cost development, licensing and hosting fees for the use of financial calculators, Key Facts Sheets and research.

All fees are negotiated with institutions on a case by case basis and varies between products and providers.

Personal Loans

  • New and used vehicle loans between $5,000 and $250,000
  • Get personalised rates from up to 10 lenders
  • Both dealer or private sales
  • Doesn’t impact your credit score
  • Fast online application process
  • Visit the Jump Payments website for conditions and full details
  • Personal loans between $2,000 & $50,000
  • From 6.99% p.a. variable rate / 7.69% p.a. comparison rate for customers with excellent credit*
  • Fast, easy & 100% online
  • Visit the Harmoney website for conditions and full details
  • Low rate loans for good credit, from 6.79% p.a. variable rate / 8.46% p.a. comparison rate
  • Get your personalised rate in 1 minute, without affecting your credit score
  • Fast online application and loan completion process
  • No exit fees or early repayment penalties
  • Funds can be available in 24 hours
  • Visit the Ratesetter website for conditions and full details

Get your free InfoChoice Property report.

Personal Loans Offers

For information on how we’ve selected these “Sponsored” and “Featured” products click here. The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless otherwise indicated in the product name with^, in which case, the comparison rate is based on a loan of $10,000 and a term of 3 years.The comparison rates are for unsecured personal loans only for the relevant amounts and terms. The comparison rates for car loans and secured personal loans are for secured loans unless indicated otherwise.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products. Compare More Personal Loans Compare More

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Choosing a Personal Loan

If you are looking for a personal loan you have come to the right place, you can compare personal loans from over a hundred lenders – giving you the most comprehensive selection of personal loans on the web to choose from. Whether you are looking for a car loan to buy a new car or personal loan so you can take a well deserved overseas holiday or maybe you would like to just simplify your life with a debt consolidation loan, what ever type of loan you are looking for we have got you covered.

To make finding the right personal loan for you a lot easier we have put together some personal loan comparison lists based on what type of loan you are looking for, such as car loans or debt consolidation loans but if you’re not quite sure what you’re looking for use our personal loan search tool that seeks out personal loans based on your needs, just enter in your details and search. You will get a list of personal loans listed ordered on the lowest monthly repayment which we have calculated for you as a guide so you can quickly and easily see the loan the might be the cheapest for you. Can’t decide on one particular loan? You can do a side by side comparison by selecting the tick box next to each product and hitting the compare selected button. If you are new to the world of personal loans please take the time to visit our personal loan guide section where you will find important tips and information about personal loans to help you better understand what you should be looking for. In the industry check our daily personal loan related daily news, changes in the market or industry related articles you can find them right here in the loans section.

The Best Personal Loans

A personal loan can be a big help when you need to make a major purchase – whether it’s to pay for a new car or your dream wedding, make home improvements, or consolidate debt.

If you’re looking for a secured or unsecured personal loan, car loan, overdraft or debt consolidation, we can help you search and compare a wide range of loan offers from different banks and credit unions.

You can also check out our handy personal loan calculators, stay up to date with the latest news, or learn more about your options in our personal loan guides.

Important information about this website

Who we are

InfoChoice is one of Australia’s leading financial services comparison website. We’ve been helping Aussies find great offers on everything from credit cards and home loans to savings and personal loans and more for over 25 years.

InfoChoice lists more than 3,000 financial products from 145 Australian banks, credit unions, building societies and non-bank lenders.

We are not owned by a bank or an insurance company. InfoChoice, its directors, officers and/or Representatives do not have any ownership of any financial or credit products or platform providers that would influence us when we provide general advice. We may receive fees and commissions from product providers for services we provide as detailed below.

Important Information

Although we cover a range of products, providers and services we don’t cover every product, provider or service available in the market. Products compared may not compare all features and options that may be relevant you. Not all products offered by each supplier may be compared. The information and products contained on this website do not constitute recommendations or suggestions to purchase or apply for any particular product. Any advice provided on this website is of a general nature and does not take into account your objectives, financial situation or needs. Products included on this site may not suit your personal objectives, financial situation or needs. InfoChoice is not a product issuer or a credit provider and does not provide personal financial advice or credit assistance.

If InfoChoice refers you to a provider, you will be dealing with that provider directly and not with us. InfoChoice accepts no liability in respect to any financial or credit product which you elect to acquire from any provider.

By providing you with the ability to apply for an insurance quote or a credit facility we are not guaranteeing that your application will be approved. Your application is subject to the Provider’s terms, conditions and criteria.

Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product. If you are considering acquiring any financial product you should obtain and read the relevant Product Disclosure Statement or other offer document prior to making an investment decision.

We endeavour to provide you with up to date and accurate information, however, on some occasions InfoChoice website may have some product changes that have not been reflected due to the large volume of products we compare and our reliance on product providers. InfoChoice will not accept liability for incorrect information. You should confirm any information with the product provider and read the information they provide.

Please take an opportunity to read InfoChoice’s Privacy Policy, Terms of Use Policy and Financial Service Guide and Credit Guide (FSCG).

Always free for you

Our service is free – no hidden fees or mark ups.

How we make money

“Sponsored” products are products offered by a provider with which InfoChoice has a commercial marketing arrangement in place.

“Sponsored” products are displayed first within the search results pages and can be re-sorted without this filter by de-selecting the “Show sponsored listings first”. They will have a link to a product provider’s website should you wish to get more information or apply for the product. InfoChoice has a commercial relationship with these product providers and may receive a commission, referral, fee or payment from a provider when you click on a link to a product.

Fees for clicks referred to product providers on the following basis:

  • Cost per Click (CPA) for click referred from the InfoChoice website to a product provider
  • Cost per Application (CPA) for completed applications that resulted from clicks referred from the InfoChoice website to a product provider.
  • Cost per Approved Application (CPAA) for completed approved applications that resulted from clicks referred from the InfoChoice website to a product provider.
  • Cost per Lead (CPL) for enquiries referred to a product provider or where enquiries result from referred clicks from the InfoChoice website to a product provider.
  • Commission share on referrals to third party advice providers.
Advertisement

“Featured” Products and “Advertisement” are a form of advertising. InfoChoice may receive a commission, referral, fee, payment or advertising fees from a provider when you click on a link to a product. We may sort or promote the order of these products based on our commercial arrangements.

Advertising fees from product providers for product advertisements through emails, sponsored content or placement on the InfoChoice website are based on Cost per Impression, Cost per Click, Cost per Application, Cost per Approved Application, Cost per Lead, Fixed Sponsorship/Advertising fee or a combination.

InfoChoice may also receive fees from product providers for the following activities:

  • Subscription fees for data provision
  • Fixed cost development, licensing and hosting fees for the use of financial calculators, Key Facts Sheets and research.

All fees are negotiated with institutions on a case by case basis and varies between products and providers.

The best personal loans in Australia for 2020

Whether you’re hungry for a new set of wheels, or you’ve decided to channel your inner Scott Cam and take on a full-scale Block-inspired home reno project, you’re probably on the hunt for a value-packed personal loan.

To help you out, check out the winners of the 2020 Mozo Experts Choice Personal Loan Awards. Our team of experts combed through 286 personal loans from 78 financial institutions, crowning the top 10% of products in a variety of categories in November 2020. Below we’ve compiled just a few winners for you to peruse.

PERSONAL LOANS

Symple Loans Personal Loan

Variable interest rates from 5.75% p.a. (6.89% p.a. comparison rate*)

Borrow up to $50,000

No exit or early repayment fees

The details:

If you like to keep things simple when it comes to your finances, then you might want to check out the Symple Personal Loan. This loan features variable rates that start from 5.75% p.a. (6.89% p.a. comparison rate*) with a maximum borrowing capacity of $50,000. But what’s really great about Symple is its application process – if your application is approved, you’ll have the cash within 24 hours! Borrowers will also enjoy no exit or early repayment fees, so you can work to pay off your loan as fast as possible without being penalised.

OurMoneyMarket Low Rate Personal Loan

Fixed interest rates from 8.00% p.a. (8.21% p.a. comparison rate*)

No ongoing fees

Free extra repayments and redraw facility

The details:

With the Our Money Market Personal Loan, borrowers with a squeaky clean credit score could enjoy a fixed rate that’s as low as 8.00% p.a. (8.21% p.a. comparison rate*). Whether you’re looking to renovate, take a holiday or even pay for a cosmetic procedure, you’ll have access of up to $50,000 to be repaid over a maximum of seven years. And speaking of repayments, pay off your loan faster with the extra repayments option or redraw these additional funds at no extra cost.

CAR LOAN

loans.com.au New Car Loan

Low fixed rate of 4.89% p.a. (5.44% p.a. comparison rate^)

Free extra repayments

Flexible repayment options

The details:

In the market for a new set of wheels and a car loan to go with it? Look no further than the loans.com.au Car Loan. This car loan features a sweet low fixed rate of 4.89% p.a. (5.44% p.a. comparison rate^) and flexible repayment options, so you can pay off your loan on a schedule that suits you best. Just watch out for those fees, which include a $400 upfront fee, a $700 early repayment fee and a $20 late payment fee.

GREEN CAR LOAN

loans.com.au Clean Green Car Loan

Fixed rates from 4.19% p.a. (4.73% p.a. comparison rate^)

Make repayments weekly, fortnightly or monthly

Ability to make free extra repayments

The details:

The loans.com.au Clean Green Car Loan’s fixed rates start at 4.19% p.a. (4.73% p.a. comparison rate^) on loans between $5,000 to $100,000, and if that’s not enough of an incentive to go out and buy an eco-friendly ride, then we don’t know what is! But, if you’re still not sold, then we think you’ll be happy to know that this loan gives you the choice of either weekly, fortnightly or monthly payments, and the ability to make fee-free extra repayments. Just remember that clearing your loan before the last year will incur a $700 fee.

^ The Comparison Rate combines the lender’s interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are for the amounts and terms below, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. ^ Based on $10,000 over 3 years ^^ Based on $30,000 over 5 years

Check out the Mozo Experts Choice Awards full winners list or if you’re after even more options, take a look at our personal loan comparison table.

Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.

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