Instantly compare 210+ Canstar expert rated products based on the inputs below
2023 Outstanding Value Personal Loans Award Winner
- Additional repayments
- Redraw facility
- Top-up facility
- Application fee: $300 up to $1200
- Annualised fee: $0
- Loan terms available: 1 year to 7 years
100% online quote. Won't affect your credit score
No monthly account keeping or early repayment fees
- Additional repayments
- Redraw facility
- Top-up facility
- Application fee: $575
- Annualised fee: $0
- Loan terms available: 3 years to 7 years
- Additional repayments
- Redraw facility
- Top-up facility
- Application fee: $0
- Annualised fee: $0
- Loan terms available: 3 years to 7 years
- Additional repayments
- Redraw facility
- Top-up facility
- Application fee: $0 up to $600
- Annualised fee: $0
- Loan terms available: 3 years to 7 years
- Additional repayments
- Redraw facility
- Top-up facility
- Application fee: $300 up to $1200
- Annualised fee: $0
- Loan terms available: 1 year to 7 years
- Additional repayments
- Redraw facility
- Top-up facility
- Application fee: $300 up to $1200
- Annualised fee: $0
- Loan terms available: 1 year to 10 years
- Additional repayments
- Redraw facility
- Top-up facility
- Application fee: $300 up to $1200
- Annualised fee: $0
- Loan terms available: 1 year to 7 years
- Additional repayments
- Redraw facility
- Top-up facility
- Application fee: $175
- Annualised fee: $60
- Loan terms available: 0 to 7 years
- Additional repayments
- Redraw facility
- Top-up facility
- Application fee: $575
- Annualised fee: $0
- Loan terms available: 3 years to 7 years
Showing 7 of 122 results
To see more results adjust the filters above
Unsure of a term in the above table? View glossary
The initial results in the table above are sorted by Star Rating (High-Low) , then Comparison rate^ (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, see top of table for details.
SPONSORED
- Rated 5-Star by CANSTAR for Outstanding Value
- Funding approved in 24 hours, up to $75,000 loan amount.
Personal Loan Repayments
Representative example total repayment amount: For a personal loan of $20,000 borrowed for 60 months with a minimum interest rate of 9.84% (comparison rate^ of 10.87%), the total amount you would need to repay would be $25,551. This is made up of a $20,000 principal amount, $5,402 interest amount, estimated upfront fees of $149 and total ongoing fees of $0. This example is hypothetical. The total loan repayment amount for any individual personal loan will vary depending on several factors (including making on time repayments). You should confirm with the lender the total amount repayable for your particular circumstances.
Canstar is Australia’s biggest financial comparison site*, comparing more brands than any other.
Why compare personal loans with Canstar?
No cost to you
Using our comparison tool to find a better deal is free. We may receive a commission from our online partners if you apply for a personal loan you find on our site.
Expert research
Our team of personal loan research experts crunch the numbers to rate personal loans based on value (price as well as features) to help you compare. Read the personal loans methodology.
A wide range of lenders
We rate and review personal loans from more than 65 brands which means you can compare and choose products from both large and challenger brands, established and new.
Easy to compare & apply
Our personal loan comparison tool allows you to filter your search results so it’s easy to find the right product for you. What’s more, you can click straight through to many of our online partners, making it easy to apply instantly.
Personal loan guides and resources
Whether you’re starting a reno project or looking to consolidate debt, Canstar’s personal loan articles and guides can help you better understand your options.
About personal loans
Types of personal loans
Saving on personal loans
Other personal loan information
Latest in personal loans
What is a personal loan?
A personal loan is an amount of money you can borrow for a specific purpose. For example, personal loans are often taken out from financial institutions to help pay for big expenses such as a wedding, home renovations, debt consolidation, holidays or buying a car.
The loan amount, plus any interest and fees, must be paid back within a certain timeframe (known as the loan term). This typically ranges from one to seven years.
What are the different types of personal loans?
Fixed or variable rate personal loans
Personal loans can come with a fixed or variable interest rate. With a fixed interest rate, the interest rate will stay the same during the loan term. With a variable interest rate, it can go up or down.
Secured or unsecured personal loans
Personal loans can also be either secured or unsecured. A secured personal loan requires you to provide an asset to be used as security for the loan, also known as ‘collateral’. For example, car loans are often secured by the car you’re buying. We compare car loans separately on our website. If you don’t repay the loan on time, the lender can repossess the asset and sell it to recover the loan amount.
An unsecured personal loan does not require an asset to be provided as security. Interest rates are typically higher on unsecured loans, as the provider does not have that added financial security. If you don’t make your repayments, the lender may take you to court to recover the money you borrowed.
Short-term and payday loans
Short-term and payday loans are small loans with short repayment terms. Learn more →
How to compare personal loans
It’s important to compare your options to make sure you are getting the right personal loan for you and you aren’t paying more than you need to in interest or fees. Some factors to consider include:
- Interest rate – this can vary depending on the provider, whether the loan is secured or unsecured, and your personal circumstances (such as your credit score and whether you have a loan guarantor).
- Comparison rate – this takes into account the interest rate and most upfront and ongoing fees and is designed to give you a better idea of the total cost of the loan per year.
- Fees and charges – such as an application fee, monthly fee, missed payment fees and early payment fees.
- Loan term – a loan with a longer term may have lower repayments, but it also means you will pay more interest over the life of the loan.
- Flexibility around additional repayments – most lenders on Canstar’s database allow you to make extra and lump sum repayments, but it’s important to check whether any additional fees apply.
If you are comparing personal loans, Canstar’s comparison tables could be a good place to start. Canstar assesses and ranks personal loans each year as part of our Personal and Car Loan Star Ratings.
How does Canstar compare personal loans?
Canstar compares personal loans using a unique and sophisticated Personal and Car Loans Star Ratings methodology, which looks at both price and features. The ratings represent a shortlist of products, enabling customers to narrow down their search to products that have been assessed and ranked. The top-performing products receive a 5-Star Rating.
Some of the factors Canstar considers for personal loans are:
- total cost including the interest rate, upfront fees and ongoing fees
- loan purpose
- security requirements
- repayment requirements and options
- redraw, top up, offset and switching facilities
- online self service for the loan
Personal loan rates in 2024
Interest rates on personal loans can go up and down regularly due to a number of factors, not least lenders sharpening the rates they offer to new customers. If you’re currently in the market for a personal loan, you may be interested in understanding whether the products you’re considering are competitive, relative to some of the other personal loans out there. You can use the comparison tool at the top of this page to sort by comparison rate, interest rate or repayments, which could help you when weighing up your options.
Looking for the cheapest or lowest personal loan rates?
When comparing products, how do you find the cheapest personal loans out there? It’s worth bearing in mind that the provider with the cheapest personal loans isn’t necessarily the one offering the lowest interest rates. Because personal loans involve smaller amounts repaid over a shorter time period than a home loan, fees can have a larger impact on the overall cost. For example, a product with a low interest rate but which charges upfront and monthly fees may end up being more expensive than a loan with a slightly higher interest rate and no fees.
Loan features can also boost the value you’re getting overall. So, the cheapest personal loans on offer for your situation may ultimately be the ones offering the best combinations of interest rate, fees and features that allow you to repay the loan early without penalty.
Looking for the best personal loan?
So how can you find the best personal loan for you? When choosing a personal loan, it’s important to shop around and compare your options. Consider factors such as the price (including the interest rate and fees) and features (such as if you can make additional repayments and pay off the loan early without penalty).
To help you narrow down your options, Canstar researches and rates hundreds of products as part of its annual Personal and Car Loan Star Ratings and Awards.
Author: Nina Tovey
As Canstar’s Editor-in-Chief, Nina heads up a team of talented journalists committed to helping empower consumers to take greater control of their finances. Previously Nina founded her own agency where she provided content and communications support to clients around Australia for eight years. She also spent four years as the PR Manager for American Express Australia, and has worked at a Brisbane communications agency where she supported dozens of clients, including Sunsuper and Suncorp.
Nina has ghostwritten dozens of opinion pieces for publications including The Australian and has been interviewed on finance topics by the Herald Sun and the Sydney Morning Herald. When she’s not dreaming up ways to put a fresh spin on finance, she’s taking her own advice by trying to pay her house off as quickly as possible and raising two money-savvy kids.
Nina has a Bachelor of Journalism and a Bachelor of Arts with a double major in English Literature from the University of Queensland. She’s also an experienced presenter, and has hosted numerous events and YouTube series.
You can follow her on Instagram or Twitter, or Canstar on Facebook.
This content was reviewed by our Senior Finance Journalist Michael Lund before it was published as part of our fact-checking process. You can also read more about Canstar’s editorial team.
Compare personal loans to suit your needs
About personal loans
Important information
For those that love the detail
This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.