Personal Loans

If you’re looking to borrow money for a holiday, home reno or new car, Mozo’s expert personal loan comparisons help you find the right options and the cheapest rates. Compare 186 loans from 43 lenders to find the best personal loan for your needs.

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Where do I find the best personal loan rates?

While the big banks are still popular options for personal loans, Aussie borrowers are increasingly turning to online lenders for their low rates and fast turnaround times. Many lenders now offer tailored personal loan rates based on your credit history, so borrowers with excellent credit records can generally access the best personal loan rates on the market.

How do I apply for a personal loan?

Applying for a personal loan online is a relatively quick and easy process, with some lenders even guaranteeing a response within 60 seconds. You'll need to supply identification, address details and income and employment, so make sure you have all of this information to hand when applying.

How long will it take for my loan to be approved?

Once your application has been approved, the funds will generally be available to you in as little as one to two days. Some lenders are even willing to go a step further and deliver the funds to your account in just hours, assuming you meet their criteria.

Personal loan comparisons on Mozo - rates updated daily

Want more? Compare all 196 personal loans in the Mozo comparison engine.

Compare more personal loans

*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. WARNING: 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.

**Representative example figures and monthly repayment figures are estimates only, based on the advertised rate, mandatory fees, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

 

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Personal Loan Resources

Reviews, news, tips and guides to help find the best personal loan for you.

The Mozo guide to getting the best deal on your personal loan

Dreams come in all shapes and sizes - whether you’re after a new car, a dream wedding or a kitchen renovation, a personal loan can be just what you need to make it happen. Mozo compares personal loan rates to help you find the best option.

Getting the best deal on your personal loan

Dreams. They come in all shapes and sizes: a dream wedding, a dream renovation, even a dream vehicle. But the reality is, dreams can be expensive, so you might think about a personal loan, to help you get there sooner. But how do you find the one that is right for you? To start with, you need to consider your current financial situation: how much you earn, your expenses and how much you can afford in loan repayments. Be careful not to overextend, because that could turn your dream, into a financial nightmare.

Your credit history will influence who you can borrow from, and sometimes also, the interest rate you can get. A personal loan with a fixed rate can help you budget month to month, by setting your repayments at a fixed amount and a variable rate may offer some flexibility, for example if you want to pay extra to help settle your loan sooner. Secured loans have an asset as security, while unsecured one don’t, which can influence the amount you borrow and your interest rate. And loans from challengers to the big banks, like peer-to-peer lenders, can offer more competitive rates.

So whatever your dream, if you choose a competitive interest rate and be sensible with the amount you borrow, a personal loan can be a great option to make that dream happen faster.

Head to Mozo.com.au to find out how you can get the best deal on a personal loan.

Your personal loans guide

So you're on the hunt for a personal loan - a handy banking product designed to help you jetset overseas, purchase those new wheels, consolidate debt or undertake that much needed home reno sooner.

But how can you find the best personal loan fit for your needs? Mozo is here to help with this handy guide that will run you through all the factors to consider when looking for a competitive personal loan deal from Australia's lenders. Starting from the top...

How much can I borrow?

What type of personal loans are there?

Purchases made with a personal loan, are there restrictions?

What should I look for in a personal loan?

Personal loans vs credit cards, which is better?

Who has the best personal loans?

Comprehensive credit reporting and loan approval

How can I get the best loan deal?

Information needed for a personal loan application

Personal loan traps to avoid

Personal Loan Reviews

Credit Union SA
Credit Union SA Variable Rate Personal Loan (Unsecured) personal loan review
Overall
10/10
Quick and reliable

Quick and quite reliable.

Quick and quite reliable.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
9/10
Trust
10/10

Joan | South Australia

reviewed 1 minute ago

St.George
St.George Unsecured Personal Loan (Fixed) personal loan review
Overall
5/10
Ok

They are ok. Overall I am happy with the service provided.

They are ok. Overall I am happy with the service provided.

Price
4/10
Features
5/10
Customer service
7/10
Convenience
6/10
Trust
7/10

Nina | New South Wales

reviewed 10 minutes ago

ANZ
ANZ personal loan review
Overall
6/10
Lots of options

ANZ have flexible payment plans if you have unexpected circumstances.

ANZ have flexible payment plans if you have unexpected circumstances.

Price
7/10
Features
6/10
Customer service
8/10
Convenience
7/10
Trust
3/10

Lisa | Victoria

reviewed about 1 month ago

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