Personal loans
Personal loans from $5,000
One application, compared across our lender panel. Fixed repayments, a clear end date, and no impact on your credit score to find out where you stand.
- $5,000 to $100,000 depending on the lender
- Terms from 1 to 7 years
- Secured from 9.00% p.a., unsecured from 11.00% p.a.
- No monthly service fee
Free enquiry · 2 minutes · No credit check
A personal loan is a fixed amount repaid over a fixed term at a fixed schedule. Unlike a credit card the balance only goes down. That predictability is the whole point, and it is why consolidating card debt into a personal loan so often reduces what people pay each month.
Secured or unsecured?
Secured loans use an asset, usually a vehicle, as collateral. That reduces the lender's risk and typically cuts several percentage points off the rate. The trade-off is real: miss enough repayments and the lender can repossess and sell the asset.
Unsecured loans need no collateral, approve faster, and cost more. For a $30,000 loan over five years the difference between 9% and 13% is roughly $3,400 in interest — worth weighing against the risk of putting your car on the line.
What lenders actually assess
Three things, in this order. Capacity: can you afford the repayment after your existing commitments? Lenders calculate your surplus and stress-test it. Conduct: does your credit file show a pattern of meeting obligations? Stability: how long in the job, how long at the address, how consistent is the income?
Credit score matters, but it is a summary of conduct rather than a separate test. A 500 score with steady full-time income and a clean recent 12 months is a far better application than a 700 score with three enquiries last month and casual hours.
To be considered you need to be 18 or over, an Australian citizen or permanent resident, currently working, and earning at least $30,000 a year before tax.
Past credit problems are not a barrier. Defaults, arrears and a low credit score are all things our lenders see every day. What matters is your income now, not the worst month you have had. If you are between jobs or your only income is a Centrelink payment, our panel cannot help — and we would rather tell you that up front than put an enquiry on your credit file that goes nowhere.
What to expect
Fixed rate, fixed repayment
Your rate is locked for the life of the loan. Your repayment does not move when the RBA does.
No monthly fees
Panel lenders charge an establishment fee of $205 secured or $295 unsecured, and nothing monthly.
Extra repayments
Most panel lenders allow additional repayments without penalty. Some charge to close a fixed loan early — we tell you which before you sign.
Funds in days
Straightforward unsecured applications commonly settle within two to three business days of approval.
Common questions
Answers, in plain terms
Can I get a personal loan with bad credit?
Often, yes. Our panel includes lenders who assess current income and stability rather than credit score alone. A default from three years ago matters far less than steady employment today. What we cannot work around is a lack of income — you need to be working and earning at least $30,000 a year before tax.
Will checking my options hurt my credit score?
No. Telling us your situation is not a credit application and no enquiry is recorded. A credit enquiry only occurs if you ask us to formally lodge with a lender, and we confirm that with you first.
How much can I borrow?
Our panel funds from $5,000. The upper limit depends on your income, existing commitments and whether the loan is secured. Unsecured personal loans commonly reach $50,000 to $75,000; secured lending can go higher.
What can I use a personal loan for?
Most legitimate personal purposes — consolidating debt, home improvements, medical or dental costs, a wedding, travel, or a vehicle. Lenders will not fund business purposes through a personal loan, or gambling, or the purchase of shares or cryptocurrency.
How long does approval take?
Many applications receive a decision within one business day. Settlement usually follows within two to three business days for unsecured loans. Secured lending takes longer because the asset must be verified.
What documents will I need later?
Photo ID, recent payslips, and usually 90 days of bank statements. Self-employed applicants generally need two years of tax returns. Nothing is required to make an enquiry.
Can I pay the loan out early?
Almost always. Variable-rate loans generally have no early payout cost. Fixed-rate loans sometimes carry a break fee. We identify which applies before you commit.
What happens if I miss a repayment?
Contact the lender immediately. Every Australian credit provider is legally required to consider a hardship request. Acting early is the difference between a variation and a default listing on your file.
Costs and disclosures
The numbers, stated plainly
Every lender must publish a comparison rate. It folds the interest rate and the mandatory fees into one figure so products can be compared honestly. We show ours here rather than in the fine print.
Repayment period: minimum 1 year (2 years on loans under $10,000), maximum 7 years. Interest rates: 9.00% p.a. to 22.00% p.a. depending on security, credit history and the lender. Maximum comparison rate: 28.48% p.a. — the ceiling across all our products, being a $5,000 loan over 2 years at 22.00% p.a. On our representative $30,000 over 5 years basis, the maximum is 22.48% p.a.
Representative example: a $30,000 unsecured personal loan over 5 years at 13.00% p.a. (comparison rate 13.44% p.a.), with a $295 establishment fee and no monthly fee, has repayments of $682.59 per month and a total amount payable of $41,251.
Fees: establishment fee $205 (secured) or $295 (unsecured). No monthly service fee. Lenders may charge fees for missed payments or early payout — set out in your credit contract before you sign.
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.
See what you qualify for
Two minutes, no documents, and no impact on your credit score. We reply the same business day.