Secured personal loans in Australia
A secured personal loan is a way to borrow money where you put up something you own, such as a car or other asset, as security. The table below shows a range of secured personal loans from our Online Partners.

We couldn’t find any results from our Online Partners.
If you want to keep comparing, here are products from other providers based on your search.

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $300 up to $1200
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Annualised fee: $0
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Loan terms available: 1 year to 7 years

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $195
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Annualised fee: $0
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Loan terms available: 1 year to 7 years

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $250
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Annualised fee: $0
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Loan terms available: 1 year to 5 years

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $200
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Annualised fee: $0
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Loan terms available: 1 year to 5 years

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $250
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Annualised fee: $0
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Loan terms available: 1 year to 7 years

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $200
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Annualised fee: $60
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Loan terms available: 1 year to 5 years

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $0
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Annualised fee: $0
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Loan terms available: 18 months to 7 years

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $250
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Annualised fee: $0
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Loan terms available: 0 to 7 years

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $200
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Annualised fee: $0
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Loan terms available: 1 year to 5 years

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $250
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Annualised fee: $0
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Loan terms available: 1 year to 7 years
Showing 10 of 57 results
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.
SPONSORED
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Rated 5 stars by Canstar for Outstanding Value for 3 years in a row.
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No early repayment, exit, or monthly account fees.
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Loans between $5,000 and $100,000.
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Interest rates displayed are 'from' price, rates can vary according to personal circumstances
About secured personal loans
A secured personal loan is one where you borrow money from a lender and you put up something you own, such as a car or other asset, as security. That means the lender has something secured against the risk of you not repaying the loan.
Because they are generally less risky for lenders, the interest rate on a secured personal loan is usually lower than for an unsecured loan. The maximum you can usually borrow on a secured loan is also generally more than for an unsecured loan.
How does a secured loan work?
Apart from the requirement to offer an asset as collateral, a secured personal loan works much the same way as an unsecured one.
This means that when you take out a secured personal loan, you enter into an agreement with a lender to make regular repayments over a set period to pay back the amount you borrowed, plus any interest, fees, or charges. You can usually choose between a fixed or variable rate loan.
The only difference is that the loan is secured against an asset you own. If you default on the repayments, the lender can recover the debt by repossessing this asset. Because having security reduces the lender’s potential risk, secured personal loans often come with lower rates than unsecured loans. That being said, interest rates, fees, and charges can vary among lenders, so it’s a good idea to shop around and compare options based on your needs. Check if there’s an exit fee should you repay the loan early.
Be sure to read the terms and conditions and the loan’s Target Market Determination (TMD), as this may help you understand if the product is suitable for your needs.
Who offers secured personal loans
A wide range of banks, credit unions and other lenders offer secured personal loans in Australia. You can compare the personal loans on Canstar’s database using the table at the top of this page. You can tailor the results according to your preferred loan amount and loan duration. You can also further filter your results, such as by provider or by Canstar’s Star Ratings.
Please note that the results do not take into account your credit history and other factors specific to your loan application, which may affect whether you are eligible for the loan or not and what interest rate might apply.
Can you use a secured personal loan to purchase a car?
Yes, it is possible to use a secured personal loan to purchase a car, although this option is less common than taking out a secured car loan specifically designed for vehicle financing.
Secured personal loans offer greater flexibility, allowing you to use the funds for various purposes, including buying a car. In some cases, the car itself can serve as collateral for the loan, provided it meets the lender’s specific criteria, such as age limits or specific insurance requirements. Some borrowers may prefer a secured personal loan when purchasing a used car that does not qualify as collateral for a secured car loan due to lender restrictions. In such cases, other assets like a cash deposit, jewellery, or even artwork can be used to secure the loan.
On the other hand, secured car loans are purpose-built for vehicle purchases and typically offer lower interest rates, longer repayment terms, and features such as balloon payments tailored to car buyers. These loans generally require the vehicle to be comprehensively insured and may impose restrictions on the car’s age, which vary depending on the lender. While secured personal loans can be used to finance car purchases, secured car loans often provide more competitive rates and terms, making them the preferred choice for most buyers looking to finance a vehicle.
Frequently Asked Questions about secured personal loans
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.
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About the authors
Nina Rinella, Editor-in-Chief

Joshua Sale, GM, Research

Important information
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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.