Best personal loans in Australia

By Peter Terlato · · 5 min read
Fact Checked
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Couple renovating their home with a personal loan

A personal loan can be helpful when you need extra funds – whether it’s for consolidating debt, buying a car, planning a wedding or covering unexpected expenses. With so many banks, credit unions and digital lenders offering loans, choosing the right one can feel overwhelming. Compare personal loans here on Mozo from a range of lenders to find the best one that meets your needs. 

For a deeper dive into personal loans, including a full FAQ, keep scrolling.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 232 personal loans using the filters.
Last updated 5 December 2025 Important disclosures and comparison rate warning*

Personal loan comparisons on Mozo

  • Promoted

    Unsecured Personal Loan

    • Fixed
    Interest rate from
    5.76 % p.a.
    to
    24.03 % p.a.
    Comparison rate from
    5.76 % p.a.
    to
    24.98 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $606
    Go to site

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

  • Promoted

    Unsecured Personal Loan

    • Fixed
    Interest rate from
    5.95 % p.a.
    to
    26.95 % p.a.
    Comparison rate from
    5.95 % p.a.
    to
    26.95 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023, 2024 & 2025^'

  • Promoted

    Low Rate Personal Loan

    • Exceptional Credit, $5,000 - $75,000, or up to $100,000 for eligible purposes
    Interest rate from
    5.95 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    5.95 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Competitive low rates for borrowers with exceptional credit on 1-7 year loans from $5,000 up to $75,000 (or up to $100K for home improvements or car loans); no monthly account keeping fees, no exit fees and no early repayment fees. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.

  • Unsecured Personal Loan

    • Fixed
    Interest rate from
    5.76 % p.a.
    to
    24.03 % p.a.
    Comparison rate from
    5.76 % p.a.
    to
    24.98 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $606
    Go to site

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

  • Debt Consolidation Loan

    Interest rate from
    5.76 % p.a.
    to
    24.03 % p.a.
    Comparison rate from
    5.76 % p.a.
    to
    24.98 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $606
    Go to site

    Roll multiple debts into one loan to streamline your finances with one set of repayments and one interest rate. Competitive fixed interest rates with no monthly or early repayment fees and flexible repayment options. Easy online application and funding in as little as 24 hours (subject to approval).

  • Unsecured Personal Loan

    • Fixed
    Interest rate from
    5.95 % p.a.
    to
    26.95 % p.a.
    Comparison rate from
    5.95 % p.a.
    to
    26.95 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023, 2024 & 2025^'

  • Low Rate Personal Loan

    • Exceptional Credit, $5,000 - $75,000, or up to $100,000 for eligible purposes
    Interest rate from
    5.95 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    5.95 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Competitive low rates for borrowers with exceptional credit on 1-7 year loans from $5,000 up to $75,000 (or up to $100K for home improvements or car loans); no monthly account keeping fees, no exit fees and no early repayment fees. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.

  • Secured Personal Loan

    • Exceptional Credit, $5,000-$75,000 or up to $100,000 for eligible purposes
    Interest rate from
    5.95 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    5.95 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Get a secured personal loan with competitive low rates for borrowers with exceptional credit. A simple fixed interest rate that can be repaid weekly, fortnightly or monthly, over 1 to 7 years (10 years for Green Loans). Managed entirely online, at any time. No monthly account keeping fees, no exit fees and no early repayment fees. Quick and easy, 100% online application. Establishment fees apply.

  • Unsecured Personal Loan

    Interest rate from
    6.17 % p.a.
    to
    21.99 % p.a.
    Comparison rate from
    6.17 % p.a.
    to
    22.79 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $610
    Go to site

    Competitive fixed rates for borrowers on 1-7 year loans from $5,000 up to $50,000. $0 monthly fees and no early repayment fees to pay. Fast application process on the Revolut app. According to Revolut and subject to loan approval, you'll receive your money into your Revolut account straight away.

  • Personal Loan

    • Fixed
    Interest rate from
    8.99 % p.a.
    to
    29.39 % p.a.
    Comparison rate from
    10.11 % p.a.
    to
    30.29 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $636
    Go to site

    A Latitude Personal Loan offers flexibility and control for your major purchases, debt consolidation, or renovation plans. Get a personalised rate in two minutes without impacting your credit score. You'll enjoy a fixed rate, a repayment schedule that suits your budget. Plus, for Mozo customers, the $395 establishment fee is permanently waived. Latitude offers borrowing options from $5,000 over terms of 2 to 7 years. Repayments can be weekly, fortnightly, or monthly.

Showing 7 results from 232 personal loans. Use the filters to see more

PERSONAL LOANS INFORMATION

How to get a personal loan in Australia

Applying for a personal loan can be straightforward if you follow the right steps. Here's how the process typically works:

  1. Check your credit score – This can impact your eligibility and the interest rate you're offered.
  2. Compare lenders – Look at rates, fees, loan features and eligibility criteria.
  3. Decide on loan type – Choose between secured (uses an asset as collateral) or unsecured.
  4. Estimate costs – Use a personal loan calculator to see how much you’ll need to repay.
  5. Apply online – Submit your application and provide your documents (e.g. ID, income proof).
  6. Receive funds – If approved, funds are usually paid within 1-3 business days.

Types of personal loans

There are different types of personal loans to suit different borrowing needs:

  • Secured vs unsecured: Secured loans use an asset as collateral; unsecured loans don’t.
  • Fixed vs variable rate: Fixed rates stay the same over time; variable rates can change.
  • Debt consolidation loans: Combine multiple debts into one loan with a single repayment.
  • Car loans: Finance a new or used vehicle with fixed or variable rates.
  • Home improvement loans: Fund renovations or upgrades around your house.
  • Wedding or holiday loans: Borrow for one-off life events or getaways.
  • Green loans: Special rates for sustainable purchases like solar panels or electric vehicles.

What to look for in a personal loan

When comparing personal loans, keep an eye out for these key factors:

  • Comparison rate – This rate includes most fees and gives a clearer picture of the true cost.
  • Fees – Look for application fees, monthly fees and/or early repayment fees.
  • Loan term – Typically 1 to 7 years. Shorter terms mean higher repayments but less interest.
  • Repayment flexibility – Some lenders allow extra repayments or redraws.
  • Funding speed – Some online lenders can approve and pay funds within 24 hours.

How much will a personal loan cost me?

Your total cost depends how much you borrow, your interest, term duration, and fees charged.

Example: For a $10,000 loan over three years at 7.50% p.a. (comparison rate, which typically includes most fees), you’d repay around $311 per month and $11,200 in total.

Use our personal loan repayment calculator to estimate costs at different rates and terms.

Personal loan FAQs

What is a personal loan?

A personal loan lets you borrow a fixed amount of money and repay it over a set period with interest. It's often used for large purchases or expenses.

What’s the difference between secured and unsecured loans?

A secured loan uses an asset (like a car) as collateral. Unsecured loans don’t require security but may have higher interest rates.

Can I get a personal loan with bad credit?

It may be possible, but expect higher rates and stricter terms. Some lenders specialise in loans for borrowers with poor credit.

How much can I borrow for a personal loan?

Personal loan amounts typically range from $2,000 to $75,000, depending on the lender and your financial situation.

How long does approval take?

Some personal loan lenders offer same-day approval, while others may take 1-3 business days.

Is the interest rate fixed or variable?

It depends on the lender and product. Fixed rates offer certainty; variable rates can change over time.

Are early repayments allowed?

Many loans allow extra repayments, but some charge early exit or break fees.

What’s the difference between interest rate and comparison rate?

The interest rate is the base charge for borrowing. The comparison rate includes most fees and better reflects the true cost.

Will applying affect my credit score?

Applying for multiple loans in a short time can negatively impact your credit score.

Why compare personal loans with Mozo?

We make it easy to compare interest rates, fees and features from a wide range of lenders. Our experts also highlight award-winning options to help you make smarter money moves.

* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.