Compare personal loans in Victoria

Are you in Victoria and need a personal loan? The table below shows a range of personal loans from our Online Partners.

GM, Research
Content Producer
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  • Star Rating - lowest first
  • Star Rating - highest first
  • Interest rate p.a. - lowest first
  • Interest rate p.a. - highest first
  • Comparison rate^ p.a. - lowest first
  • Comparison rate^ p.a. - highest first
  • Monthly repayment - lowest first
  • Monthly repayment - highest first
Features and fees Glossary
  • icon Additional repayments
  • icon Redraw facility
  • icon Top-up facility
  • icon Application fee: $0
  • icon Annualised fee: $0
  • icon Loan terms available: 3 years
star filled star filled star filled star filled star filled
Tooltip icon
6.17% Glossary
Fixed Glossary
6.17% Glossary
$609.98 Glossary
Features and fees Glossary
  • icon Additional repayments
  • icon Redraw facility
  • icon Top-up facility
  • icon Application fee: $0
  • icon Annualised fee: $0
  • icon Loan terms available: 1 year to 7 years
star filled star filled star filled star filled star filled
Tooltip icon
6.28% Glossary
Fixed Glossary
6.28% Glossary
$610.98 Glossary
Features and fees Glossary
  • icon Additional repayments
  • icon Redraw facility
  • icon Top-up facility
  • icon Application fee: $0
  • icon Annualised fee: $0
  • icon Loan terms available: 3 years to 7 years
star filled star filled star filled star filled star filled
Tooltip icon
6.28% Glossary
Fixed Glossary
6.28% Glossary
$610.98 Glossary
Features and fees Glossary
  • icon Additional repayments
  • icon Redraw facility
  • icon Top-up facility
  • icon Application fee: $0
  • icon Annualised fee: $0
  • icon Loan terms available: 1 year to 7 years
star filled star filled star filled star filled star filled
Tooltip icon
7.99% Glossary
Fixed Glossary
7.99% Glossary
$626.64 Glossary
Features and fees Glossary
  • icon Additional repayments
  • icon Redraw facility
  • icon Top-up facility
  • icon Application fee: $300 up to $1200
  • icon Annualised fee: $0
  • icon Loan terms available: 1 year to 7 years
star filled star filled star filled star filled empty star
Tooltip icon
6.57% Glossary
up to 9.29% Glossary
Fixed Glossary
7.59% Glossary
up to 10.33% Glossary
$613.62 Glossary
up to $638.70 Glossary
Features and fees Glossary
  • icon Additional repayments
  • icon Redraw facility
  • icon Top-up facility
  • icon Application fee: $300 up to $1200
  • icon Annualised fee: $0
  • icon Loan terms available: 1 year to 7 years
star filled star filled star filled star filled empty star
Tooltip icon
6.57% Glossary
up to 9.29% Glossary
Fixed Glossary
8.28% Glossary
up to 11.03% Glossary
$613.62 Glossary
up to $638.70 Glossary
Features and fees Glossary
  • icon Additional repayments
  • icon Redraw facility
  • icon Top-up facility
  • icon Application fee: $575
  • icon Annualised fee: $0
  • icon Loan terms available: 3 years to 7 years
star filled star filled star filled empty star empty star
Tooltip icon
5.76% Glossary
up to 24.03% Glossary
Fixed Glossary
9.78% Glossary
up to 28.52% Glossary
$606.27 Glossary
up to $784.97 Glossary
Features and fees Glossary
  • icon Additional repayments
  • icon Redraw facility
  • icon Top-up facility
  • icon Application fee: $175
  • icon Annualised fee: $60
  • icon Loan terms available: 0 to 7 years
star filled star filled star filled empty star empty star
Tooltip icon
11.49% Glossary
Variable Glossary
13.77% Glossary
$659.43 Glossary

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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^ p.a. (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, which impact the results displayed in the table - filters can be applied or removed at any time.

About personal loans in Victoria

If you’re a Victorian resident looking to take out a personal loan, you can use the comparison table above to compare your personal loan options from our Online Partners.

What are the different types of personal loans?

Fixed or variable rate personal loans

Personal loans are offered with a fixed or variable interest rate. If you take out a personal loan with a fixed interest rate, the interest rate will stay the same during the loan term regardless of changes in economic factors (e.g. the cash rate rising or falling). With a variable interest rate, the interest rate on the loan can go up or down due to these economic factors.

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 a security for the loan, also known as ‘collateral’. For example, car loans are often secured by the vehicle you’re buying. If you don’t repay the loan on time or can no longer repay the loan, the lender can repossess the asset put forward as collateral and sell it to recover the remaining loan amount.

An unsecured personal loan doesn’t require an asset to be provided as security. Interest rates are typically higher on unsecured loans as a result. This is due to the provider not having the added financial security, therefore taking on what’s considered a ‘more risky’ loan. If you don’t make your repayments, the lender may take you to court in order to recover the remaining loan amount.

Short-term and payday loans

Short-term and payday loans are small loans with short repayment terms that function in a different way to personal loans. They often charge high fees instead of interest.

How to compare personal loans?

It’s important to compare your personal loan options to make sure you’re getting the right loan for your needs and 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 lender, whether the loan is secured or unsecured, and your personal circumstances (such as your credit score and whether you have a loan guarantor). You can check your credit score for free with Canstar or via the Canstar App.
  • Comparison rate: This rate takes into account the interest rate and most upfront and ongoing fees. It’s designed to give you a better idea of the total cost of the loan per year.
  • Fees and charges: These can include application fees, monthly fees, missed payment fees and early payment fees.
  • Loan term: The loan term refers to the length of time in which the loan will last, which could be anywhere from 12 months to up to 10 years. A loan with a longer term may have lower repayments, but it also means you will pay more in 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.

You can compare personal loan options from our Online Partners or change the filters to better suit your requirements.

How to find the best personal loan in Victoria?

The best personal loan in Victoria for you will depend on your own needs and financial circumstances. Comparing your options is a good way to find a personal loan that suits your needs. Consider factors such as the price of repayments (including the interest rate and fees), loan term 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 and awards personal loan providers who offer Outstanding Value to borrowers as part of its annual Personal and Car Loan Awards.

Latest in personal loans

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.

Personal and Car Loans Awards

About the authors

Nick Whiting, Content Producer

Nick Whiting
Nick is a Content Producer at Canstar, providing assistance to Canstar's Editorial Finance Team in its mission to empower consumers to take control of their finances. He has written hundreds of articles for Canstar across all key finance topics. Coming from a screenwriting background, Nick completed a Bachelor of Film, Television and New Media Production from Queensland University of Technology. Nick has also completed RG 146 (Tier 1), making him compliant to provide general advice for general insurance products like car, home, travel and health insurance, as well as giving him knowledge of investment options such as shares, derivatives, futures, managed investments, currencies and commodities. Nick’s role at Canstar allows him to combine his love of the written word with his interest in finance, having learned the art of share trading from his late grandfather. Nick strives to deliver clear and straightforward content that helps the everyday consumer navigating the world of finance. Nick is also working on a TV series in his spare time. You can connect with Nick on LinkedIn.

Joshua Sale, GM, Research

Joshua Sale
Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research Team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products. As one of Canstar’s company spokespeople, Joshua is confident participating in print, radio and broadcast journalism interviews. He has participated in interviews with the Australian Financial Review, news.com.au and Money Magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends. You can follow Joshua on LinkedIn. Have a media enquiry, and interested in featuring Joshua as a financial expert and commentator? Contact Canstar’s Media Team today.

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.

Canstar may earn a fee from its Online Partners for referrals from its website tables, and from sponsorship or promotion of certain products. Fees payable by product providers for referrals and sponsorship or promotion may vary between providers, website position, and revenue model. Sponsorship/promotion fees may be higher than referral fees. If a product is sponsored or promoted, it’s an ad and it is clearly marked as such. An ad might appear in different places on our website, such as in comparison tables and articles. Ads may be displayed in a fixed position in a table, regardless of the product's rating, price or other attributes. The location of an ad doesn’t indicate any ranking or rating by Canstar. Payment of fees for ads does not influence our Star Ratings. See How We Get Paid to find out more. Payment of fees for ads does not influence our Star Ratings or Awards.

The Personal Loan Star Ratings are updated daily. The results don’t include every provider in the market and we may not compare all features relevant to you. Current rates and fees are displayed and may be different to what was rated. You can find a description of the initial sort order below the table. You can use the sort buttons at the top of each column to re-order the display. Learn more about our Personal Loans Star Rating Methodology. The rating shown is only one factor to take into account when considering products.

The products and Star Ratings in the table might not match your exact inputs in the selector. Sometimes the methodology uses profiles with categories or bands (e.g. income, loan amount or monthly spend), but sometimes a single methodology, without any categories or bands, is applied. The results will show the products that most closely match your selection, based on our profiles. If you are unsure about any terms used in the comparison table please refer to the glossary.

What is a Target Market Determination?

A Target Market Determination (‘TMD’) is a document that explains which people particular financial products may be suitable for (the target market) and sets out any conditions around how financial products can be distributed to consumers.

Why do product issuers provide Target Market Determinations?

From 5 October 2021, TMDs are compulsory for most financial products.

Issuers and distributors of financial products must take reasonable steps that are likely to result in financial products reaching consumers in the target market defined by the product issuer.

We recommend that you consider the TMD before making a purchase decision. Contact the product issuer directly for a copy of the TMD.

Any advice on this page is general and has not taken into account your objectives, financial situation or needs. Consider whether this general financial advice is right for your personal circumstances. Canstar provides information about credit products. We’re not suggesting or recommending a particular credit product for you. If you decide to apply for a loan, you will deal directly with the provider, not with Canstar. Consider the Target Market Determination (TMD) before making a purchase decision. Contact the product issuer directly for a copy of the TMD. It’s important you check rates and product information directly with the provider. For more information, read our Detailed Disclosure. ^Read the Comparison Rate Warning.

Canstar is not providing a recommendation for your individual circumstances. We cannot and do not recommend that any particular product is suitable for you. 

We provide links to our Online Partners. These are brands that may pay Canstar a fee for referring you. Our tables default to display only our Online Partners’ products initially, you can adjust the Online Partner Filter to see all of the products available for comparison on Canstar’s website. We provide these links so that you can click through to the product provider’s website to get more information. The provision of these links does not constitute a recommendation by Canstar.

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.