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Personal Loans

A personal loan gives you access to up to $100,000 same-day approval, a low rate from 9,75%, and flexible repayment terms of up to 6 years – providing the affordable financing you need with unmatched ease and convenience.

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Find the ideal personal loan for your unique needs

Access a personal loan that meets your needs in terms of loan amount, term, and affordability.

Loans are offered by Australia's most trusted and competitive lenders and can be obtained online.

Frequently Asked Questions

What is a Personal loan?

More and more Australian citizens are turning to personal loans when they need some extra money to help them through a tough time.

A personal loan can be used for many different reasons such as extra spending money for when you go on holiday, paying an overdue bill or paying for car repairs.

How much can I borrow with a Personal loan?

The loans range up to $100,000 and give you between 5 and 7 years to pay back the loan.

A secured loan means that you will need to put up an item of value as collateral to secure your loan, this could be your car, house or any item of value. If you default on payment then you are at risk of losing that item.

An unsecured loan means that the loan does not have to be backed by collateral, as this is a higher risk loan to the lender the interest rate is usually much higher.

To apply for a personal loan is very easy, either apply online, via the telephone or in the branch. To apply online is quick and easy, supporting documents can easily be uploaded and the approval process is almost instant.

Decide how much you would like to borrow and how long you need to pay back the money.

What are common types of Personal loans?

There are many different types of personal loans that can be secured or unsecured loans. Other types of personal loans that are available include:

  • Car finance

    If you are looking to buy a new or used car then a loan or financing could be what you are looking for.
  • Line of credit

    This type of loan allows you access to credit, up to a set limit. You will only be charged and pay interest on the money that you have used.
  • Debt consolidation

    A debt consolidation loan is used to eliminate and/ or manage existing debt. The loan will cover your outstanding debt and combine the balances into one easy to manage repayment plan that will be easy for you to follow. The lender will consolidate your debt and negotiate a better, lower interest rate on your behalf.
  • Overdraft

    An overdraft facility is normally connected to your bank account and allows you access to a set amount that can be drawn directly from your account once you have spent all the available funds that you have.
  • Loan for Bad credit

    If you need a personal loan, but you don’t have a great credit score, then there is still some options available to you. If you have a low  or bad credit score you can apply for a loan specially designed for those that have bad credit issues. Some bad credit personal loan lenders will not perform a credit check or will not decline your application on a bad credit report.

How do I apply for a Personal loan online?

To apply for a personal loan is very simple and the entire process can be completed online so there is no need to spend time searching for a branch. By using a completely paperless system you are helping to keep the planet green while saving yourself time and unnecessary effort. If you need to upload supporting documentation you can upload your documents directly to the site with ease.

Fill in the online loan application form with your personal details and customize your loan agreement. Consent to a credit check then sit back and relax while we check your affordability.

Once your application has been approved, you can simply sign the agreement online and the cash will be paid directly into your bank account.

Do I qualify for a Personal loan?

To apply for a personal loan you will need to meet certain criteria such as:

  • You must be a Australian citizen and a permanent resident of Australia.
  • You need to be 18 years old or older.
  • You will need to supply at least 2 types of identification this can be your passport, photo ID, driver’s license or Medicare card.
  • You will need to consent to a credit check if required.
  • You will need to be permanently employed and earn a regular income
  • You will need to have a bank account that is in your own name to pay the loan into.

Here are some advantages of a Personal loan

There are many advantages to taking out a personal loan. It is very easy to apply online at any time of the day and the approval process is almost instant, particularly in the case of payday and short-term loans.

There is no need to visit the branch and meet with the lender face to face. Your personal information and data will be kept secure by the latest technology so there is no risk involved. Once the loan has been approved the money will be paid directly into your bank account and the cash can be drawn out and used for whatever you need it for, there is no restriction on what you can use the money for.

Personal loans are free to apply for so that you can see if you qualify with no obligation to take the loan if your application is approved.

Payday loans are also a form of personal loan. The only disadvantage is that the interest rate is usually a bit higher then other forms of credit.

Personal Loan Interest Rates

When deciding on which loan is the correct option for you it is important to take a low rate personal loan and make sure that you will be able to afford the interest rate when the time comes to pay back the loan.

In Australia, the interest rate that lenders offer can differ significantly and you will need to decide between a fixed or variable interest rate. A fixed interest rate allows you to budget more effectively as the amount of interest that you are charged will be a fixed amount for the duration of the loan term this amount will not be affected by the changing markets.

A variable interest rate means that the amount you will be charged will fluctuate if the market rates drop, you will save by paying a lower interest rate.

Personal loan calculator

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The interest rate of a loan will vary based on your credit score and risk profile.
This personal loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

List of direct lenders offering Personal loans

  1. Credit24 Personal loan

    Credit24

    • Loans up to $10,000
    • Term up to 36 months
    • Interest up to 48%
  2. MoneyMe Personal loan

    MoneyMe

    • Loans up to $15,000
    • Term up to 3 years
    • Interest from 8.99%
  3. Now Finance Personal loan

    Now Finance

    • Loans up to $40,000
    • Term up to 84 months
    • Interest from 8.95%
  4. Jacaranda Finance Personal loan

    Jacaranda Finan...

    • Loans up to $15,000
    • Term up to 24 months
    • Interest up to 48%
  5. NAB Personal Loan Personal loan

    NAB Personal Lo...

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 10.69%
  6. Harmoney Personal loan

    Harmoney

    • Loans up to $70,000
    • Term up to 5 years
    • Interest from 6.99%
  7. BOQ Personal loan

    BOQ

    • Loans up to $40,000
    • Term up to 7 years
    • Interest from 10.99%
  8. ANZ Personal loan

    ANZ

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 12.45%
  9. Commonwealth Bank Personal loan

    Commonwealth Ba...

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 12.99%
  10. Westpac Personal loan

    Westpac

    • Loans up to $100,000
    • Term up to 7 years
    • Interest from 8.49%
  11. Bank SA Personal loan

    Bank SA

    • Loans up to $80,000
    • Term up to 5 years
    • Interest from 7.47%
  12. Goldfields Money Personal loan

    Goldfields Mone...

    • Competitive interest rates
    • Term up to 5 years
    • Interest from 10.30%
  13. RACV Finance Personal loan

    RACV Finance

    • Loans up to $100,000
    • Term up to 60 months
    • Interest from 4.99%
  14. Bankwest Personal loan

    Bankwest

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 11.99%
  15. Champion Loans Personal loan

    Champion Loans

    • Loans up to $15,000
    • Term up to 5 years
    • Interest from 12%
  16. Pepper Money Personal loan

    Pepper Money

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 9.99%
  17. Nifty Loans Personal loan

    Nifty Loans

    • Loans up to $5,000
    • Term up to 24 months
    • Interest from 24%
  18. HSBC Bank Personal loan

    HSBC Bank

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 8.5%
  19. Bendigo Bank Personal loan

    Bendigo Bank

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 7.79%
  20. Aussie Personal loan

    Aussie

    • Low doc loans
    • Term up to 5 years
    • Online pre-approval
  21. ME Bank Personal loan

    ME Bank

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 10.98%
  22. St. George Personal loan

    St. George

    • Loans up to $80,000
    • Term up to 7 years
    • Interest from 8.49%
  23. Discovery Credit Personal loan

    Discovery Credi...

    • Loans up to $10,000
    • Low doc loans
    • Bad credit friendly
  24. RAC Finance Personal loan

    RAC Finance

    • Loans up to $100,000
    • Term up to 7 years
    • Interest from 6.2%
  25. Society One Personal loan

    Society One

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 6.39%
  26. Australian Lending Centre Personal loan

    Australian Lend...

    • Loans up to $250,000
    • Term up to 5 years
    • Interest from 3.68%
  27. IMB Personal loan

    IMB

    • Loans up to $30,000
    • Term up to 5 years
    • Interest from 6.69%
  28. Beyond Bank Personal loan

    Beyond Bank

    • Starting from $5,000
    • Term up to 7 years
    • Interest from 7.99%
  29. Bank of Melbourne Personal loan

    Bank of Melbour...

    • Loans up to $80,000
    • Term up to 7 years
    • Interest from 8.49%
  30. Easy Street Personal loan

    Easy Street

    • Loans up to $35,000
    • Term up to 10 years
    • Interest from 4%
  31. Cash Smart Personal loan

    Cash Smart

    • Loans up to $2,000
    • Term up to 24 weeks
    • Apply online now
  32. Speedy Finance Personal loan

    Speedy Finance

    • Loans up to $5,000
    • Term up to 30 weeks
    • Interest from 4%
  33. Greater Bank Personal loan

    Greater Bank

    • Loans up to $100,000
    • Term up to 7 years
    • Interest from 4.89%
  34. Rapid Loans Personal loan

    Rapid Loans

    • Loans up to $30,000
    • Term up to 7 years
    • Interest from 12%
  35. People’s Choice Personal loan

    People’s Choice

    • Loans up to $100,000
    • Term up to 7 years
    • Interest from 5.64%
  36. Instant Cash Online Personal loan

    Instant Cash On...

    • Loans up to $2,000
    • Term up to 12 months
    • Fast loan payouts
  37. Heritage Bank Personal loan

    Heritage Bank

    • Loans up to $100,000
    • Term up to 10 years
    • Interest from 10.99%
  38. iWant Payday Personal loan

    iWant Payday

    • Loans up to $4,500
    • Get the best deal
    • Low rate loans
  39. Personal Loans Now Personal loan

    Personal Loans ...

    • Loans up to $5,000
    • Term up to 52 weeks
    • Tailormade loans
  40. CashFirst Personal loan

    CashFirst

    • Loans up to $5,000
    • Quick online loans
    • Interest up to 47.8%
  41. Personal Loans on Spot Personal loan
  42. Max Finance Personal loan

    Max Finance

    • Loans up to $10,000
    • Term up to 12 months
  43. My Cash Finance Personal loan

    My Cash Finance

    • Loans up to $10,000
    • Term up to 12 months
    • Fast loan payouts
  44. Enably Personal loan

    Enably

    • Loans up to $20,000
    • Term up to 24 months
  45. Rent Bond Move Personal loan

    Rent Bond Move

    • Loans up to $5,000
    • Term up to 9 weeks
    • Interest up to 11.89%
  46. Simple Personal Loans Personal loan

    Simple Personal...

    • Loans up to $10,000
    • Term up to 12 months
    • Flexible repayments