Compare personal loan pre-approval
The table below displays a selection of unsecured personal loans from our Online Partners that have pre-approval available as an option.
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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
- 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
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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.
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About personal loan pre-approval
If you are thinking about applying for a personal loan and want to have an idea of how much you might be able to borrow and your chances of being approved, then personal loan pre-approval is a way to know where you stand ahead of time.
What is personal loan pre-approval?
Personal loan pre-approval is a process that you can undergo before you actually apply for a loan. When you apply for pre-approval, a lender will conduct a preliminary assessment to give you an idea of your chances of approval for a loan, and how much you could be approved for.
Pre-approval for a loan is not the same as actual approval, and for this, you will need to formally submit a loan application and be approved. It is, however, a good way to know where you stand prior to submitting your application, and an indication of whether your application might be successful.
What are the benefits of personal loan pre-approval?
There are various potential benefits to personal loan pre-approval, some of which include:
- Helping set your budget: Applying for pre-approval can give you an idea of how much a lender might be willing to loan you, which could be useful when planning for a purchase such as a vehicle.
- Helping you plan for repayments: Applying for pre-approval can also help give you an idea of how your regular repayments might look, and the interest rate that a lender might be willing to offer you.
- Keeping your credit score intact: An application for personal loan pre-approval only requires a soft credit check, meaning that it will not have an impact on your credit score.
It’s important to note that obtaining personal loan pre-approval does not mean that you will always be automatically granted the loan. The lender will likely do a reassessment prior to giving you the funds you have asked for, and your – or the lender’s – conditions may have changed.
Frequently Asked Questions about Personal Loan Pre-approval
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Canstar Personal Loans Star Ratings and Awards
Looking for an award-winning personal loan or to switch lenders? Canstar rates products based on price and features in our Personal Loans Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall.
Canstar rates a range of financial products, covering banking, insurance and investment. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.
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About our finance experts
Alasdair Duncan, Senior Finance Journalist
Joshua Sale, Group Manager, Research & Ratings
As Canstar’s Ratings Manager, Josh Sale is responsible for the methodology and delivery of Canstar’s Personal Loans Star Ratings and Awards. With tertiary qualifications in economics and finance, Josh has worked behind the scenes for the last five years to develop Star Ratings and Awards that help connect consumers with the right product for them.
Josh is passionate about helping consumers get hands-on with their finances. Josh has been interviewed by media outlets such as the Australian Financial Review, news.com.au and Money Magazine.
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This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.