$10,000 loans

Mozo helps you compare $10,000 personal loans so that you can find one that best meets your needs. Start comparing here!

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$10,000 personal loan comparisons on Mozo

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 236 personal loans.
Last updated 13 December 2024 Important disclosures and comparison rate warning*
  • Low Rate Personal Loan

    Excellent Credit, $5,000 - $75,000

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 8.39% p.a.
    7.19% p.a.to 8.75% p.a.based on $30,000
    over 5 years

    Competitive low rates for borrowers with excellent credit on 1-7 year loans from $5,000 up to $75,000, plus free extra repayments. 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.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

    Compare
    Details
  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.75% p.a.to 26.95% p.a.
    6.75% p.a.to 26.95% p.a.based on $30,000
    over 5 years

    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^'

    Repayment terms from 2 years to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,430.23 including fees.

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    Details
  • Express Personal Loan

    Secured

    interest rate
    comparison rate
    Monthly repayment
    16.95% p.a.to 29.95% p.a.
    32.99% p.a.to 45.5% p.a.based on $10,000
    over 3 years

    Access fast finance on loans from $3,000 to $25,000 with a Jacaranda Finance Personal Loan. Terms from 25-36 months. Check if you qualify with no impact on your credit score. Enjoy a speedy, online approval.

    Repayment terms from 2 years to 3 years. Representative example: a 3 year $10,000 loan at 16.95% would cost $14,952.03 including fees.

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    Details
  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.76% p.a.to 24.03% p.a.
    6.55% p.a.to 24.98% p.a.based on $30,000
    over 5 years

    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).

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.

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    Details
  • Debt Consolidation Loan

    interest rate
    comparison rate
    Monthly repayment
    5.76% p.a.to 24.03% p.a.
    6.57% p.a.to 24.99% p.a.based on $30,000
    over 5 years

    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).

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.

    Compare
    Details
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Personal loan resources

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

So you want to take out a $10,000 loan to fund an upcoming expense. Whether it be a small home reno or destination wedding, there are a few things you should know before applying.

Perhaps above all else, you’ll want to get an understanding of what a good personal loan interest rate looks like in today’s financial climate. 

To give you an idea, Mozo’s database currently shows that for an unsecured personal loan across variable and fixed rates, the average rate is currently ^10.43% p.a. for a $10,000 loan. For a secured loan the average is 9.07%.

But that’s just the first step in your research. Let's also break down some of the different loan types you might come across when looking to borrow $10,000, along with some pros and cons of borrowing this amount.

Types of $10,000 loans

When taking out a $10,000 personal loan, you’ll first need to determine what type of loan you’re after. 

Let’s review the options.

Fixed rate personal loans:

Having a fixed rate personal loan means that your interest will stay at the same rate for a fixed period of time. 

This could be great if you’re someone who likes to know exactly how much your regular repayments will be each time. The downfall is that fixed rate loans tend to have fewer features than variable rate loans.

Variable rate personal loans:

With a variable rate personal loan, the interest rate is subject to change depending on fluctuations in the market. This means that your repayments might be more or less than a fixed rate loan. 

However, you’ll likely get access to more features, such as the ability to make free extra repayments and possibly even a redraw facility, so you can redraw on those extra repayments should you need some extra cash.

Unsecured personal loan:

While unsecured loans tend to have a higher interest rate than secured loans, they don’t require an asset (such as your car) to be used as collateral against the loan. But it’s important to note that there are still consequences for defaulting on your loan, including a damaged credit score and potential legal action.

Secured personal loan:

A secured personal loan typically has a lower interest rate than an unsecured loan as a tradeoff for having to offer up a valuable asset as collateral. For instance, if you’re a homeowner, this asset might be your property. By having this security, lenders tend to offer higher loan amounts and longer loan repayment terms. 

Pros & cons of a $10,000 personal loan

Let’s take a look at some of the different benefits and disadvantages of a $10,000 personal loan:

🟢 Pros of a $10,000 personal loan:

  • Smaller loan size: This could be ideal if you require funding for a small project.

  • Lower repayments: Your regular repayment amount could be lower with a loan size of $10,000.

  • Quicker to pay off: It’ll probably be quicker to pay off a $10k personal loan than a larger loan.

🔴 Cons of a $10,000 personal loan:

  • Financial commitment: By taking out a $10k personal loan, you’ll need to ensure you’ve always got enough money in your bank account to meet your regular repayments.

  • Risk of default: Missing your repayments could negatively affect your credit score. 

  • Restricted loan size: If you can only get approval for a $10,000 personal loan, this might be unsuitable for larger projects.

What will my monthly payments be?

Calculating the regular repayments on a $10,000 personal loan will depend on a few important factors such as:

  • loan term

  • interest rate

  • and, any fees. 

For example, on a $10,000 loan with a 10.43% p.a. interest rate over 3 years, your monthly repayments would be $325 per month, as per the Mozo personal loan calculator.

The total over 3 years = $1,689

By contrast, on a $10,000 loan with 8% p.a. interest rate over 3 years, your monthly repayments would be $313 per month.

The total over 3 years = $1,281

That’s $408 less to cover in repayments. 

This is why it’s so important to shop around for an interest rate to find a competitive option. You can use our personal loan repayments calculator to get an idea of what your monthly repayments might look like. 

You might also want to compare $5,000 personal loans or $50,000 personal loans.

Picture of Rhianna Dews
Rhianna Dews
RG146
Senior Money Writer

Rhianna has a Master of Journalism and Communication from UNSW, and has contributed to several consumer publications including TechRadar, Simply Living Australia, Beauty News Australia, Beauty World News and Fashion Gone Rogue. With over eight years of experience helping consumers make the most of their money, and a background in creating content for brands including Foxtel and Vodafone, means she's always the first to know the latest consumer trends. Her focus is on millennial money motivation and helping Aussies make smart money moves in personal loans, credit cards and online shopping.

$10,000 personal loan FAQs

Should I get a fixed rate loan of $10,000?

Generally speaking, fixed rate personal loans tend to have slightly higher interest rates than their variable rate alternatives. However, with a fixed rate loan you get the certainty of a set repayment amount for the duration of your loan, which can make budgeting easier. Most fixed rate loans allow you to make extra repayments, but there’ll usually be a cap on how much extra you can pay off.

Is $10,000 the maximum you can borrow?

Personal loan amounts can vary depending on how much you need to spend, so don’t feel like you’re tied to a $10,000 loan if it’s not exactly what you need. In fact, most lenders will accommodate loan amounts from as little as $1,000 to as much as $70,000. 

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

When using Mozo’s comparison tool to compare $10,000 personal loans, you might have noticed that listed next to each loan are two interest rates: the main headline interest rate and a comparison interest rate. The comparison rate takes the loan's main interest rate into account, plus any other fees you might pay, making it a more accurate representation of the actual loan cost. 

What are the alternatives to a $10,000 personal loan? 

There are several low rate credit cards with interest rates below 10% p.a., which could potentially be an alternative finance option if you’re diligent in paying down the balance each month (and not adding to it). Alternatively, if you’re thinking of taking out a personal loan to consolidate your credit card debt, you could consider getting a credit card with a 0% balance transfer period.

Personal Loan Reviews

Bendigo Bank Personal Loan
Overall 3/10
Needs improvement with care for customers

Customer service needs improving. Not real helpful in financial crisis or emergencies. Vague description of products and services

Read full review

Customer service needs improving. Not real helpful in financial crisis or emergencies. Vague description of products and services

Price
5/10
Features
5/10
Customer service
5/10
Convenience
3/10
Trust
3/10
Less
Sabrina, Tasmania, reviewed 1 day ago
ANZ Personal Loan
Overall 10/10
As above

Prompt! Straight forward Information was easy to understand

Read full review

Prompt! Straight forward Information was easy to understand

Price
10/10
Features
10/10
Customer service
8/10
Convenience
10/10
Trust
10/10
Less
Natalie, Queensland, reviewed 1 day ago
Citi Ready Credit Flexible Personal Loan
Overall 4/10
Too expensive

Very hight acquisition rate

Read full review

Very hight acquisition rate

Price
3/10
Features
2/10
Customer service
6/10
Convenience
6/10
Trust
3/10
Less
Ashley, Victoria, reviewed 30 days ago

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