Need a $5,000 personal loan? Mozo compares some of the top personal loans available in Australia, helping you find the right loan that suits your financial circumstance.
Read moreThere are plenty of lenders, you can apply for a $5,000 personal loan at a bank, credit union or independant financial lenders.
It might seem daunting to work out which loan is right for you. Our personal loan comparison tool does all the hard work for you by comparing interest rates, fees and features all in the one place!
That’s easy, you can do it right here! Once you’ve found the right loan for you using our comparison tool, just click the ‘go to site’ button. This will take you to the provider’s site where you can start your application.
Search promoted personal loans below or do a full Mozo database search. Advertiser disclosure.
6.99% p.a.to 25.69% p.a.
7.79% p.a.to 26.65% p.a.based on $30,000
over 5 years
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,208.67 including fees.
Fixed
6.99% p.a.to 25.69% p.a.
7.79% p.a.to 26.65% p.a.based on $30,000
over 5 years
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,208.67 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'll likely qualify.
6.95% p.a.to 19.99% p.a.
6.95% p.a.to 19.99% p.a.based on $30,000
over 5 years
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.95% would cost $35,599.71 including fees.
Unsecured, Fixed
6.95% p.a.to 19.99% p.a.
6.95% p.a.to 19.99% p.a.based on $30,000
over 5 years
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.95% would cost $35,599.71 including fees.
Excellent credit score needed to obtain this rate. Enjoy no-fuss personal loans of up to $30,000 with Alex. No hidden early repayment penalties. Terms from 6 months to 5 years. Convenient and fast 100% online approval. Must be over 18 to be eligible.
6.49% p.a.to 8.99% p.a.
6.84% p.a.to 9.34% 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 $35,459.64 including fees.
Fixed, Excellent Credit
6.49% p.a.to 8.99% p.a.
6.84% p.a.to 9.34% 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 $35,459.64 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. To qualify, simply earn above $25,000 and you’ll be on the way to start spending. Winner of a Mozo Experts Choice Award 2019 in the Unsecured Personal Loan category^.
6.75% p.a.to 8.48% p.a.
6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,580.23 including fees.
Excellent Credit
6.75% p.a.to 8.48% p.a.
6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,580.23 including fees.
OurMoneyMarket offer competitive low rates on loans up to $50,000, plus free extra repayments and fee-free redraw facility.
6.95% p.a.to 17.95% p.a.
6.95% p.a.to 17.95% p.a.based on $10,000
over 3 years
Terms from 2 to 7 years. Representative example: a 3 year $10,000 loan at 6.95% would cost $11,107.53 including fees.
Fixed, $5,000 - $15,000
6.95% p.a.to 17.95% p.a.
6.95% p.a.to 17.95% p.a.based on $10,000
over 3 years
Terms from 2 to 7 years. Representative example: a 3 year $10,000 loan at 6.95% would cost $11,107.53 including fees.
Pay $0 in fees when you borrow between $5,000-$15,000 with NOW FINANCE. No establishment fee, no ongoing fees, and no early payout fee! Get your tailored interest rate in two minutes with no impact on your credit score.
5.75% p.a.to 21.99% p.a.
6.47% p.a.to 25.11% 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 $35,190.18 including fees.
Variable, Unsecured
5.75% p.a.to 21.99% p.a.
6.47% p.a.to 25.11% 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 $35,190.18 including fees.
Get a personalised rate quote in just 2 minutes, apply in just 7 minutes. Money transferred to your account the next business day. No exit or early repayment fees. Borrow up to $50,000.
7.65% p.a.to 26.99% p.a.
7.65% p.a.to 26.99% p.a.based on $30,000
over 5 years
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 7.65% would cost $36,196.75 including fees.
Fixed, Unsecured
7.65% p.a.to 26.99% p.a.
7.65% p.a.to 26.99% p.a.based on $30,000
over 5 years
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 7.65% would cost $36,196.75 including fees.
Enjoy competitive fixed rates from as low as 7.65% for borrowers with good credit. No ongoing, exit or early repayment fees, plus the flexibility to make extra repayments. Borrow from $5,000 to $50,000. Apply online and get a fast response.
7.59% p.a.to 8.89% p.a.
12.24% p.a.to 13.91% p.a.based on $30,000
over 5 years
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 7.59% would cost $36,844.34 including fees.
Fixed, Excellent Credit
7.59% p.a.to 8.89% p.a.
12.24% p.a.to 13.91% p.a.based on $30,000
over 5 years
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 7.59% would cost $36,844.34 including fees.
Enjoy competitively low fixed rates from 7.59% for borrowers with great credit. There are no monthly service or exit fees, plus have the flexibility to make extra repayments. Borrow up to $30,000 with terms from 1-5 years. Apply now for fast online approval.
7.95% p.a.to 19.45% p.a.
8.78% p.a.to 20.4% p.a.based on $30,000
over 5 years
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 7.95% would cost $37,049.45 including fees.
Fixed
7.95% p.a.to 19.45% p.a.
8.78% p.a.to 20.4% p.a.based on $30,000
over 5 years
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 7.95% would cost $37,049.45 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. Borrow between $5,000 and $50,000. Easy online application, receive a response in minutes and approved funds within 24-48 hours!
7.65% p.a.to 26.99% p.a.
7.65% p.a.to 28.6% p.a.based on $30,000
over 5 years
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 7.65% would cost $36,196.75 including fees.
Fixed
7.65% p.a.to 26.99% p.a.
7.65% p.a.to 28.6% p.a.based on $30,000
over 5 years
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 7.65% would cost $36,196.75 including fees.
Personalised rates, no hidden fees and the option to redraw any extra repayments. Hassle free loans from $5-$50k on a 3 to 7 year term. Submit an application in 10 minutes and you're on your way. 2019 Mozo Experts Choice Award winner for Unsecured Personal Loans.^
9.89% p.a.
10.14% p.a.based on $30,000
over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 9.89% would cost $38,322.33 including fees.
Fixed
9.89% p.a.
10.14% p.a.based on $30,000
over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 9.89% would cost $38,322.33 including fees.
No account keeping fees. Apply online and get a fast decision, normally within 24 hours. Winner of Mozo's Experts Choice Award for Australia's Best Large Credit Union.^
8.49% p.a.to 11.19% p.a.
8.81% p.a.to 11.52% p.a.based on $30,000
over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.49% would cost $37,146.08 including fees.
Very Good Credit
8.49% p.a.to 11.19% p.a.
8.81% p.a.to 11.52% p.a.based on $30,000
over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.49% would cost $37,146.08 including fees.
A simple, low rate online personal loan for any worthwhile purpose. No monthly account fees, no early payout fees, so you can pay it off at any time, at no extra cost. To qualify, simply earn more than $25,000 and have no prior defaults.
10.50% p.a.
11.38% p.a.based on $30,000
over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 10.50% would cost $39,439.02 including fees.
Fixed
10.50% p.a.
11.38% p.a.based on $30,000
over 5 years
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 10.50% would cost $39,439.02 including fees.
This big bank loan allows you to borrow up to $50,000 and lock in your rate to help budget for your monthly repayments. And if you ever want a closer look at your repayment details, ANZ Internet Banking helps you manage your loan all in the one place. To be eligible you must earn a minimum of $15,000, be over 18 and be an Australian resident.
6.95% p.a.to 17.95% p.a.
8.57% p.a.to 19.53% p.a.based on $30,000
over 5 years
Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 6.95% would cost $36,874.71 including fees.
Fixed, $15,000 - $40,000
6.95% p.a.to 17.95% p.a.
8.57% p.a.to 19.53% p.a.based on $30,000
over 5 years
Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 6.95% would cost $36,874.71 including fees.
Borrow between $15,000-$40,000 unsecured with NOW FINANCE. Single and joint applicant loans available. Get your tailored interest rate in two minutes with no impact on your credit score.
12.69% p.a.to 18.99% p.a.
13.56% 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 12.69% would cost $41,420.45 including fees.
Fixed, Unsecured
12.69% p.a.to 18.99% p.a.
13.56% 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 12.69% would cost $41,420.45 including fees.
Borrow from $5,000 - $55,000 & no fees for extra or early repayments
^See information about the Mozo Experts Choice Personal loans Awards
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.
How much could you save by switching your personal loan? Compare savings from over 200 personal loans. Find out in a few clicks.
Reviews, news, tips and guides to help find the best personal loan for you.
Whether it’s to go on an exotic getaway or kit out your flat with some brand new furniture, a personal loan can be a great option. So to help you pick out the perfect loan, we’ve compiled a list of the most commonly asked questions that come with finding the best $5,000 personal loan for your spending goals.
When you start searching for personal loans, you’ll find there are two main types, secured and unsecured. It’s important that you don’t just pick the first one you see, as there are big differences between the two and you’ll need to choose the one that best suits your needs.
For example, secured personal loans may come with a lower interest rate, but it will also require you to use an asset as security against the loan. So if you ever default on your loan, the lender has the right to repossess the asset. On the other hand, an unsecured personal loan won’t require any security, but there’s usually a higher interest rate.
The amount of interest you’ll pay will depend on a number of factors, like the loan term and the interest rate.
So you know you need a $5,000 personal loan, but do you know what features and fees you should be looking for? So before you start your search for the perfect loan, here are some of the things to keep an eye out for:
The interest rate
This is possibly the first thing you’ll consider when looking for a personal loan and can have a big influence on which loan you apply for.
To give you an idea of how much interest you could be paying over different loan terms, we took our personal loan repayments calculator for a spin. Say for instance you took out a $5,000 personal loan at a rate of 7.99%, over 5 years you’d pay $1,081, while the same loan over three years would only see you pay $640 - a difference of $441.
The comparison rate
You might notice that rates for personal loans often come in twos, the regular interest rate and the comparison rate. The comparison rate factors in not only the interest rate, but fees and other costs you’ll have to pay over your loan. While this can give you an idea of what your loan might actually cost, you should still take it with a grain of salt, as it is still an advertised rate. Your comparison rate will depend on your loan amount and borrowing capacity.
Loan fees
Regardless of if you’re after a $10,000 or $5,000 loan, you’ll likely have to pay a few fees. Two of the most common fees you’ll find with a personal loan are upfront and ongoing fees.
An upfront or application fee is charged at the start of your loan and is usually a one-off payment. These can reach up to $600, so you’ll need to make sure the benefits of the loan outweigh this cost.
Ongoing fees kind of a maintenance fee and are usually either charged on a monthly or annual basis. Other fees you may notice are late payment or discharge fees.
Repayment features
For some added flexibility in your loan, you may also have access to some handy repayment features. Having an extra repayments option attached to your loan can help you cut down on interest and pay off your loan faster. Just keep in mind that lenders may set a limit to how much you can repay and could charge a fee.
Your loan may also come with a redraw facility, where you can redraw your extra repayments to pay for unexpected bills or expenses.
Repayment flexibility
A final thing to mention is that once you start paying your loan off, you’ll often be able to make your repayments on a schedule that suits you best, either on a weekly, fortnightly or monthly basis.
Although a personal loan can be handy, applying with bad credit isn’t always a good idea. Bad credit loans tend to have super high interest rates, that can go up to 48% and charges hefty fees. Plus, not only does your application have a higher chance of rejection, if you are rejected, it will go onto your credit history.
Want to know how much your repayments might be? Check out our personal loan repayments calculator.
Having a poor credit history does not mean you’ve hit a dead end, as you are able to repair it. Some of the ways you can work towards improving your bad credit history before applying for a $5,000 loan include:
Yes, there are some options. If you do apply for a no credit check personal loan, it means that your lender will not request your credit report from any credit bureau to check your borrowing capacity. The lender will check your bank statements and will look at your income and expenses. This is to determine if you can afford to repay the loan.
But just like applying with bad credit, this is highly risky to do because of the high interest rates and fees involved and remember, your application will appear on your credit file, regardless of if you are approved or rejected.
If you are thinking of applying for a $5,000 personal loan, depending on the lender, you may find that there are some eligibility requirements, like:
When you find the right loan and are ready to apply, you’ll need to provide your lender with some info and a few documents in your application to determine your reliability as a borrower and borrowing capacity, including:
If you are looking for a loan of a different amount, check out $10000 personal loans or even $50000 personal loans.
They helped me consolidate my debt into a personal loan so I didn't have to pay a high interest rate on my credit card as they assessed my account and saw I was trying to pay it off but then the interest would hit and it was not going anywhere. So I am very grateful they helped me.
Read full reviewThey helped me consolidate my debt into a personal loan so I didn't have to pay a high interest rate on my credit card as they assessed my account and saw I was trying to pay it off but then the interest would hit and it was not going anywhere. So I am very grateful they helped me.
I became a customer of CBA Gladstone Park branch after my divorce from my husband in 2018. We had a joint loan on a holiday investment property with a mortgage secured by Westpac for $300k. The total owing on mortgage was $230k. My property and asset settlement wars in excess of $2 m. Westpac refused to assist me in transferring the loan into my name only. I was completely debt free and had been a loyal customer for 30 plus years. My only debt would have been $230k. Due to Westpac's lack of care l was recommended to Abraham at CBA Gladstone Park. An absolute gentleman and very informative and offers great customer service.
Read full reviewI became a customer of CBA Gladstone Park branch after my divorce from my husband in 2018. We had a joint loan on a holiday investment property with a mortgage secured by Westpac for $300k. The total owing on mortgage was $230k. My property and asset settlement wars in excess of $2 m. Westpac refused to assist me in transferring the loan into my name only. I was completely debt free and had been a loyal customer for 30 plus years. My only debt would have been $230k. Due to Westpac's lack of care l was recommended to Abraham at CBA Gladstone Park. An absolute gentleman and very informative and offers great customer service.
I like NAB because they are nice on the phone, pretty prompt with actioning personal loan applications, and any requests I have.
Read full reviewI like NAB because they are nice on the phone, pretty prompt with actioning personal loan applications, and any requests I have.
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