Compare personal loans

Personal loans information

Whether you’re after a loan to finance a major purchase, take a holiday, fund a renovation or simply consolidate debt, Mozo can guide you through the personal loans maze.

Our nifty personal loans comparison tools help you find the right loan for your needs. You can also get the inside story on everything from customer service to hidden fees with personal loan reviews by the Mozo community.

Comparing personal loans

Personal loans come in all shapes and sizes, so it pays to do your homework to find the best personal loan for your needs. Our loans database lets you compare personal loans rates and fees with ease, and covers all the major providers.

You can quickly filter and compare personal loans according to the features you want, such as variable rate loans, fixed rate loans, the ability to make extra repayments, and so on.

Once you have shortlisted the best personal loans for your needs, you can compare your chosen loans side-by-side to pick a winner.

Fixed rate vs variable rate loans

Before you compare personal loans, it helps to work out what sort of loan features you want. The first decision is whether to get a fixed rate or variable rate personal loan.

Fixed rate loans are ideal if you want the security of knowing that your interest rate, and therefore your monthly repayments, will remain the same for the life of the loan. On the downside, you will not benefit from any falls in interest rates over the loan period.

Fixed loans can also be less flexible than variable rate personal loans, which generally have added features such as the ability to pay off your loan faster by making extra repayments on top of your normal monthly payments.

To avoid getting stuck with a loan that isn’t right for your needs, be sure to check features as well as rates and fees when you compare personal loans.

Secured vs unsecured loans

Another decision to make when you compare personal loans is whether to get a secured or unsecured loan.

Unsecured personal loans are more flexible as they do not require you to secure the loan against an existing asset such as a house or a car.

Secured loans are generally used to finance larger loan amounts such as the purchase of a new car, where the loan is secured against the car itself.