$10,000 loans

Looking to borrow $10,000 for a used car, new outdoor entertainment area or possibly a wedding? Mozo helps you to compare personal loan options so that you can find a loan that best meets your borrowing needs.

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Fact Checked

How fast can I get a $10,000 personal loan?

Nowadays, pretty quick. Almost all personal loan providers in Australia will let you apply online and some even provide conditional approval in minutes. If everything adds up with your application from there, you could have official approval and $10,000 deposited into your Australian bank account within a day or two.

What interest rate can I get on a $10,000 personal loan?

Interest rates on $10,000 personal loans can get pretty low, especially with some peer to peer lenders, but there are a range of other factors that go into calculating the interest rate you’ll be offered.  For example, if you’ve shown you’re a responsible borrower in the past you’re likely to get a cheaper interest rate whereas if you’ve got a chequered credit history, you might get a higher interest rate for your loan. 

Can I get a $10,000 loan with bad credit history?

Yes, in many circumstances you’ll be able to get a loan but you might end up paying a higher interest rate than someone with a better credit profile but it will depend on the lender as each loan provider has their own loan approval criteria.

$10,000 personal loan comparisons on Mozo - last updated 8 December 2021

Search promoted personal loans below or do a full Mozo database search. Advertiser disclosure.
  • Sponsored Deal
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    Mozo Experts Choice 2022
    No Fee Unsecured Personal Loan (Fixed)

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.95% p.a.to 17.95% p.a.
    5.95% p.a.to 17.95% p.a.based on $30,000
    over 5 years

    Borrow up to $50,000 unsecured from the only lender with no fees and none of the bank. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Back to back winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021 & 2022^.

    Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 5.95% would cost $34,757.21 including fees.

    Go to site
    Details
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    Personal Loan

    Unsecured, Fixed, Excellent Credit

    interest rate
    comparison rate
    Monthly repayment
    6.39% p.a.to 7.49% p.a.
    6.39% p.a.to 8.19% p.a.based on $30,000
    over 5 years

    Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 6.39% would cost $35,126.40 including fees.

    With low rates for borrowers with excellent credit, a quick 1 minute rate estimate and simple online application, there’s a lot to love about this loan! You’ll not only benefit from no exit fees, there are also no early repayment fees. You could qualify by simply earning above $25,000 and you’ll be on the way to start spending (other eligibility criteria may apply).

    Compare
    Go to site
    Details
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    Mozo Experts Choice 2022
    Personal Loan

    Unsecured, Fixed

    interest rate
    comparison rate
    Monthly repayment
    4.99% p.a.to 14.99% p.a.
    4.99% p.a.to 14.99% p.a.based on $30,000
    over 5 years

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 4.99% would cost $33,959.97 including fees.

    Excellent credit score needed to obtain this rate. Enjoy no-fuss personal loans of up to $30,000 with Alex Bank. No hidden early repayment penalties. Terms from 6 months to 5 years. Convenient, 100% online approval. Must be over 18 to be eligible (other eligibility criteria may apply). Winner of Mozo's Experts Choice Best New Loan Product award 2021^.

    Compare
    Go to site
    Details
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    Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.35% p.a.to 19.09% p.a.
    6.14% p.a.to 19.99% p.a.based on $30,000
    over 5 years

    Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 5.35% would cost $34,832.61 including fees.

    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).

    Compare
    Go to site
    Details
  • placeholder
    Mozo Experts Choice 2022
    No Fee Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.95% p.a.to 17.95% p.a.
    5.95% p.a.to 17.95% p.a.based on $30,000
    over 5 years

    Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 5.95% would cost $34,757.21 including fees.

    Borrow up to $50,000 unsecured from the only lender with no fees and none of the bank. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Back to back winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021 & 2022^.

    Compare
    Go to site
    Details
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    Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.49% p.a.to 20.95% p.a.
    6.49% p.a.to 20.95% p.a.based on $30,000
    over 5 years

    Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 6.49% would cost $35,210.64 including fees.

    Low personalised rates, ideal for borrowers with excellent credit. No monthly account fees, no early payout fees, so you can pay off your loan sooner. $0 establishment fee for loans from $5,000 to $30,000, a $595 establishment fee will be charged on loan amounts of $30,001 to $64,000.

    Compare
    Go to site
    Details
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    Personal Loan

    Fixed, Unsecured

    interest rate
    comparison rate
    Monthly repayment
    6.99% p.a.to 18.99% p.a.
    7.91% p.a.to 19.83% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,383.67 including fees.

    Borrow from $5,000 to $55,000 with a 1 - 7 year flexible loan term with NAB. Get competitive low rates for excellent credit. Enjoy no fees for extra repayments and no early exit fees. NAB accepts documents online so you can get your funds fast.

    Compare
    Go to site
    Details
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    Personal Loan

    Fixed, Secured

    interest rate
    comparison rate
    Monthly repayment
    5.99% p.a.to 21.99% p.a.
    7.26% p.a.to 23.15% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.99% would cost $35,820.67 including fees.

    Special Offer: Enjoy no interest and no repayments for the first 3 months with a Better Start Personal Loan. Available for new personal loan customers, borrowing $20K+ to consolidate their debts. Offer ends 8 December 2021 (T&C’s apply). Offering loans from $3,000 at a fixed rate for the life of the loan.

    Compare
    Go to site
    Details
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    Unsecured Personal Loan

    Excellent Credit, Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.95% p.a.to 10.49% p.a.
    5.95% p.a.to 12.83% p.a.based on $10,000
    over 3 years

    Terms from 2 to 5 years. Representative example: a 3 year $10,000 loan at 5.95% would cost $10,943.74 including fees.

    Be rewarded for your good credit history with low rates. No ongoing fees. Pay off your loan with no early repayment penalties. Apply online and get a quote in minutes

    Compare
    Go to site
    Details
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    Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    9.39% p.a.
    9.64% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 9.39% would cost $37,881.66 including fees.

    Borrow from $5,000 to $50,000 with low rates for great credit. No account keeping fees. Free extra repayments and redraw facility. Same day approval may be possible. Winner of Mozo's Experts Choice Award for Australia's Best Large Credit Union 2021^.

    Compare
    Go to site
    Details
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    Standard Personal Loan

    Fixed, Unsecured

    interest rate
    comparison rate
    Monthly repayment
    7.99% p.a.
    8.62% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a n/a year $0 loan at 7.99% would cost $6,988.90 including fees.

    Heritage Bank discounted rates for borrowers with excellent credit. Available loans starting from $5,000 to $25,000. Your choice of loan terms up to five years. Extra repayments allowed, but may incur fees.

    Compare
    Go to site
    Details
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    Personal Loan

    interest rate
    comparison rate
    Monthly repayment
    5.75% p.a.
    5.96% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.75% would cost $34,840.18 including fees.

    Handypay offers flexible home improvement loans for Excellent Credit or better. Handypay is a specialist home improvement plan provider and offers loans up to $75,000.

    Compare
    Go to site
    Details
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    Green Loan

    interest rate
    comparison rate
    Monthly repayment
    5.79% p.a.
    6.36% p.a.based on $30,000
    over 5 years

    Terms from 1 to 10 years. Representative example: a 5 year $30,000 loan at 5.79% would cost $34,873.55 including fees.

    Handypay offer flexible green loans up to $75,000 for Excellent Credit or better. Handypay is a specialist home improvement plan provider.

    Compare
    Go to site
    Details
Search now

^See information about the Mozo Experts Choice Personal loans Awards

*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.

Personal loan lenders we compare at Mozo

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Hey, before you continue…

Lenders on our site have strict lending criteria. We want you to find the right loan so before proceeding with a loan application, be sure that at a minimum you:

If you don’t know your credit rating, try using our rate matcher tool, where we run a free credit check to help you find a loan you may qualify for.

Personal loan resources

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

FAQ

No matter what you plan on spending the money on, if you are borrowing $10,000 there are a few things you’ll need to know about personal loans and developing good money habits. Read on as we answer some of the most FAQs below.

What will my monthly payments be with a $10,000 loan?

Calculating the monthly repayments on a $10,000 personal loan depends on a few important factors, like the loan term and interest rate as well as any fees. This is why it’s so important to shop around for an interest rate - whether it be fixed or variable - that is among the most competitive in the market. Our repayments tool above allows you to plug in your exact loan details to get an indication of the monthly repayments you’ll have to make with any of the loans listed in our tables. An alternative option is to use our personal loan repayments calculator.

What is the best loan term for a $10,000 loan?

Personal loan terms can be as short as one year or as long as seven - or in more extreme cases can span as long as 10 - and whether you choose to pay your loan off over one year, two years or five years will have an impact on how much interest you accrue. The rule of thumb is the longer the loan, the more interest you’ll pay, but the smaller your monthly repayments will be. Let’s look at an example to help get your head around this equation.

LOAN X - A $10,000 personal loan at 8.00%, paid off over seven years accrues $3,092 in interest and the monthly repayments are just $156.

LOAN Y - A $10,000 personal loan at 8.00%, paid off over two years accrues just $855 in interest but the monthly repayments are $452.

Of course, with any loan or credit card, you want to avoid unnecessary interest charges and while a choosing a shorter loan term can help you do that, it’s important you don’t overstretch your budget, leaving you with regular repayments you simply can’t make. So to help you decide what loan term your budget can handle why not run a refresh using our budget calculator to help crunch the numbers.

One of the other important factors to consider is that many loans will let you make extra repayments so if you do find that you’ve taken out a longer loan term, but can afford to make higher repayments than what’s required you should. Every extra dollar you put into the loan is less interest you’ll have to pay.

I need a $10,000 loan fast. What are my options?

If time is of the essence in your hunt for a $10,000 personal loan, one option is a peer to peer lender. Not only do these lenders offer competitive rates and terms on their personal loan products, in most cases they approve loans on the same day you apply, meaning you can have the funds in your Australian bank account by the end of the day. If you want to find out a little more about these new kids on the block, check out our guide to peer to peer lending

But if you want to stick to a more traditional lender or financial institution, there are still a range of big banks and credit unions that, with their online application and approval processes, can provide conditional approval in a matter of minutes and have the much-needed cash sent to you within 48 hours.

Is a credit card better for a $10,000 loan than a personal loan?

It all comes down to the interest rate you’ll be paying on that $10,000 loan and for how long and what you are using the funds for. If you are using the money to buy something new like a car, holiday etc, there are a number of low rate credit cards with interest rates below 10% and these could be a good option if you are diligent in paying down the balance each month (and not adding to it). The benefit of a personal loan is that you do have set monthly repayments so you are unlikely to have your debt linger around for a longer period of time than required. 

If on the other hand, you’re thinking about a personal loan to consolidate your credit card debt, you could consider getting a  0% balance transfer period on a credit card. 

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

Generally speaking, fixed rate personal loans have slightly higher interest rates than their variable rate alternatives, but with a fixed rate loan you have the certainty of a set repayment amount for the duration of your loan. Knowing your exact repayments can be a real benefit to managing a budget. You’ll generally also be able to make extra repayments with fixed rate loans though there may be a cap on how much.

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

Shopping around for a $10,000 loan is made a whole lot easier with Mozo’s comparison tables, but you’ve probably noticed that we list both the interest rate and comparison rate beside each product. While finding the lowest interest rate possible is a good idea when you shop around, it’s also important to see how comparison rates stacks up. The comparison rate takes into account the fees on that particular product along with the interest rate, so you get a more accurate idea of the true cost of a loan. 

I run my own small business. Can I get $10,000 loan?

If you are looking for business financing then head on over to our business loan section. This page is for personal loans whereas the loans featured in the business section are for businesses and include specialist providers who only deal with small business lending.

So if you own your own business why not head over to our business banking hub to explore a range of financing options to help your small business thrive.
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 which means that no matter what you need to fund - whether it be a home reno or medical emergency - you can get the right amount of cash for you.

What do I need to apply for a loan?

Most lenders now offer online loan applications so you can get started today by clicking through to a providers site via the blue ‘go to site’ buttons in the table above.

From here, it’s important you have a few pieces of essential documents on hand so that your personal loan (or personal loan refinance) application runs as smoothly as possible and also be sure that you meet any eligibility prerequisites. If you’re applying for a $10,000 loan with a provider you don’t have a previous banking relationship with, you’ll have to identify yourself via a driver’s licence or passport as well as prove you’re good for the cash, which means you’ll need the following information on hand:

  • Proof of income (recent payslips or tax return)
  • List of other assets and liabilities
  • Proof of employment
  • Loan amount and loan term requested


If you looking for a loan of a different amount, you may want to check out $5000 personal loans, or $50000 personal loans.

Personal Loan Reviews

Latitude Personal Loan
Overall 1/10
Terrible Customer Service.

I've been trying to apply for a loan for over a week, applied online, my screen says 'thank you for applying we'll be in contact' and I've called multiple times and just keep getting hung up on. The issue is that my screen says I've applied but my application hasn't actually gone through for some reason. I've FINALLY managed to get through to someone and they don't even know how to fix my issue. I've been told they will call back, but last time I was told that no one ever actually rang me back. Extremely frustrating process.

Read full review

I've been trying to apply for a loan for over a week, applied online, my screen says 'thank you for applying we'll be in contact' and I've called multiple times and just keep getting hung up on. The issue is that my screen says I've applied but my application hasn't actually gone through for some reason. I've FINALLY managed to get through to someone and they don't even know how to fix my issue. I've been told they will call back, but last time I was told that no one ever actually rang me back. Extremely frustrating process.

Customer service
1/10
Convenience
1/10
Less
Sabrina, Queensland, reviewed 7 days ago
ANZ Unsecured Personal Loan
Overall 1/10
Worse Bank

Do not use this bank, applied for a personal loan, they advertise simple and easy, what a joke, supplied documentation to them, looks like I was dealing with idiots overseas as most of my correspondence was online due to work commitments. Instead of looking over the application and telling me what they wanted me to supply first go instead of coming back in drubs and drabs asking for information, I supply it and they tell me they didn’t receive it, but I have proof it went through but anyway. Not reading emails properly or even knowing what they are asking for when it’s right in front of them. At one point some one in their assessing team sent an email and said application was not successful. Next day I get an email from them saying we need more information??? I said you knocked the application back and the guys says oh no we haven’t finished processing it?? I then emailed them what they said and they apologised for confusion, but still going back and forth. Not well trained staff, either I ended up pulling the application and went to another bank and got the loan in 24 hours. Do not waste your time and energy!

Read full review

Do not use this bank, applied for a personal loan, they advertise simple and easy, what a joke, supplied documentation to them, looks like I was dealing with idiots overseas as most of my correspondence was online due to work commitments. Instead of looking over the application and telling me what they wanted me to supply first go instead of coming back in drubs and drabs asking for information, I supply it and they tell me they didn’t receive it, but I have proof it went through but anyway. Not reading emails properly or even knowing what they are asking for when it’s right in front of them. At one point some one in their assessing team sent an email and said application was not successful. Next day I get an email from them saying we need more information??? I said you knocked the application back and the guys says oh no we haven’t finished processing it?? I then emailed them what they said and they apologised for confusion, but still going back and forth. Not well trained staff, either I ended up pulling the application and went to another bank and got the loan in 24 hours. Do not waste your time and energy!

Price
3/10
Features
3/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Adrian, New South Wales, reviewed about 2 months ago
Commonwealth Bank Secured Personal Loan (Fixed)
Overall 1/10
Banks grubs

Corporate robots, don't lend to singles the two percent deposit scheme is rubbish, I tick all boxes and can afford the loan but cannot get because of unrealistic lending criteria. All banks.

Read full review

Corporate robots, don't lend to singles the two percent deposit scheme is rubbish, I tick all boxes and can afford the loan but cannot get because of unrealistic lending criteria. All banks.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Mick, Victoria, reviewed about 2 months ago

More personal loan reviews