$50,000 Loans

Shopping around for a lender to fund a $50,000 personal loan? Compare some of the loans available from a range of Australia’s lenders including banks, peer to peer lenders and non-bank lenders in our personal loan comparison table below based on your borrowing needs.

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What will my repayments be on a $50,000 loan?

This is easy with our handy personal loan repayments search tool. We can give you an estimate of your monthly repayments based on how long you want to take the loan out for. Most personal loans are paid back over a period of 1 to 7 years, so depending on your budget you’ll need to select a loan term that will suit your needs. Have a play around with our repayments tool to see which loan term suits you. 

Are big banks better for bigger loan amounts?

The temptation may be to opt for a big four bank when choosing a $50,000 personal loan, but there’s also a host of smaller lenders including peer to peer lenders that offer large loan amounts, often at cheaper interest rates than the big banks so it is definitely worth your while to shop around. Why pay more interest than you absolutely need to? If you can get a cheaper interest rate you may be able to cut down the time it takes to pay back the loan.   

Can I apply for $50,000 personal loan online?

Yes, these days the vast majority of personal loans are applied for, approved and paid off through online avenues which means you can get started right now from the comfort of your couch. To get the ball rolling, compare a range of $50,000 loans in the table below.

$50,000 personal loan comparisons on Mozo - last updated 23 January 2022

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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    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
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    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^.

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    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. Offer valid to 31 Jan 2022.

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    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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    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.

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    Go to site
    Details
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    Home Improvement Loan

    Fixed, Unsecured

    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.

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    Go to site
    Details
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    Secured Car Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.79% p.a.
    7.16% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.79% would cost $35,729.09 including fees.

    Reach your goal sooner without being penalised with $0 early payout fee. $0 monthly fees. Choose to make either monthly, fortnightly or weekly repayments to suit your income and budget. Winners of Australia's Best Large Credit Union in 2020.

    Compare
    Go to site
    Details
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    Unsecured Personal Loan

    Tier 1 Credit, Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.45% p.a.to 10.99% p.a.
    6.45% p.a.to 11.71% p.a.based on $10,000
    over 3 years

    Terms from 2 to 5 years. Representative example: a 3 year $10,000 loan at 6.45% would cost $11,025.45 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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    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
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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
  • placeholder
    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.

    Check your personal loan rate in under 3 mins with no impact to your credit score. Borrow from $3,000 with flexible repayment options. Apply for your loan in 10 minutes and get a response in 60 seconds. Extra repayments allowed.

    Compare
    Go to site
    Details
  • placeholder
    Personal Loan

    Fixed, Unsecured

    interest rate
    comparison rate
    Monthly repayment
    7.99% p.a.to 22.99% p.a.
    9.24% p.a.to 24.15% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 7.99% would cost $37,518.90 including fees.

    Check your personal loan rate in under 3 mins with no impact to your credit score. Borrow from $3,000 with flexible repayment options. Apply for your loan in 10 minutes and get a response in 60 seconds. Extra repayments allowed.

    Compare
    Go to site
    Details
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^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.

Personal loan lenders we compare at Mozo

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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:

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Personal loan resources

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

FAQ

Borrowing must knows - your guide to a getting loan approval

A $50,000 personal loan could well be the key to a fabulous once in a lifetime holiday or help you to secure that boat you’ve been hanging out to buy for years now, but a $50K loan is a serious financial commitment, so to make sure you’re as well prepared as possible we’ve answered some of the most commonly asked questions people have about borrowing and getting loan approval below.

How long can I take it to pay off a loan?

The good news is that personal loan terms can be as long as seven years or be as short as one year and many lenders will often let you choose your preferred loan term as long as you can prove you’ll be able to meet the regular payments.

If you’re borrowing $50,000 it’s likely that you’ll be paying this off over several years and it is better to opt for repayment term that you will be able to comfortably meet than one that puts you under a lot of financial pressure.

For instance, say you get a $50,000 loan with a 10.75% interest rate. Over 5 years, you’ll have a monthly repayment of $1081 according to our personal loan repayments calculator, whereas if you pay the loan off over 3 years, your monthly repayments will jump to $1,631.

It is worth remembering that in Australia these days, most personal loans whether they have a fixed or variable interest rate will allow extra repayments. So if you do find yourself with some spare cash at the end of the month or get an unexpected windfall, you can put this direct into your loan so that you can reduce the time it takes and the interest you’ll have to pay.  

Can a $50,000 personal loan be used to consolidate debt?

Absolutely. Getting a debt consolidation loan is a popular option for Australians looking to ditch debt. Debt consolidation loans generally offer lower interest rates than a credit card so they can be a useful way to get out of debt faster. If this is the reason why you’re in the market for a $50,000 loan, why not read our helpful guide to personal debt consolidation loans.

Can I get an unsecured personal loan for $50,000?

Yes, as long as your credit history stacks up you’ll be able to get an unsecured loan for $50,000 with some lenders, but you might have to pay higher interest rates than if you were getting a secured loan.  

Are fixed rate loans better than variable rate loans?

The best loan for you will depend on your financial circumstances. For some people, knowing exactly how much their loan repayment will be each month is best so they generally opt for a fixed rate loan. If you  think your budget can handle fluctuations in repayments, then a variable rate loan could suit you more.

With a $50,000 loan however, the cheaper your interest rate the less money you will need to pay, so when comparing loans you should definitely look for a loan with a low rate. Be sure that you compare loans on comparison rate, as this rate combines the interest rate with fees, so it gives you a more realistic indication of the true cost of a loan.

While generally you’ll be able to make extra repayments these days with both fixed rate and variable rate loans, just be aware that fixed rate loans sometimes will have break fees if you pay the loan out too early. 

What else should I look for in a personal loan?

A low interest rate aside, there are a few personal loan features worth seeking out so that you can be sure you’re choosing a cost-effective option that you’ll be able to successfully pay off the $50,000 within the loan period.

  • Low fees: Application or upfront fees might be hard to dodge when you’re looking to borrow $50,000, but there are plenty of loans available that come without ongoing service fees so be on the lookout for those. The less money you pay in fees the more money you have to go towards paying down your debt
  • Flexible repayments: An easy way to make sure you never miss a personal loan payment is to match up your repayment schedule with your pay cycle
  • Extra repayments and redraw: Most variable rate loans and fixed rate loans will allow you to make extra repayments. Some loans will also have a redraw facility so that if you do get a head on your repayments and you then need some extra cash you can withdraw it.

Are there any restrictions how I spend the money?

In most cases you’ll be able to use your fresh $50,000 personal loan whichever way you like. Some people opt to put it towards crushing debt, others choose to book flights and accommodation for an upcoming holiday and some use the money to finally secure a dream car or boat. All you have to do is indicate how you plan on spending the money when you apply, but usually you’ll be able to use it for any means you like.

How do I apply for a $50,000 personal loan?

Once you’ve selected the lender and loan that you’re interested in, you’ll need to submit an application. Every lender has different lending criteria but generally you will need to submit the following information:

  • Proof of ID (driver’s licence or passport)
  • Proof of income (recent payslips or tax return)
  • List of other assets and liabilities
  • Proof of employment
  • Loan amount and loan term requested

Most of the lenders listed here on Mozo take online applications so by clicking on the “go to site” button, you’ll be taken directly to the lender’s website where you can complete your application.

If you're looking for a loan of a little lower amount, check out $5000 personal loans and $10000 personal loans.

Personal Loan Reviews

Latitude Personal Loan
Overall 1/10
Rip off

Very disappointing service. My wife paid her account down to zero and asked for the account to be closed. She has now been charged $61 in various fees and the account hasn’t been shut. I will be taking this to social media and the banking ombudsman.

Read full review

Very disappointing service. My wife paid her account down to zero and asked for the account to be closed. She has now been charged $61 in various fees and the account hasn’t been shut. I will be taking this to social media and the banking ombudsman.

Price
1/10
Features
3/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Seamus, Queensland, reviewed about 1 month ago
Commonwealth Bank Personal Loan
Overall 10/10
Great service

I walked in the door and asked to open an account. I had not dealt with Comm Bank for 20 years. The person who greeted me is the manager. Was given immediate service, and being a very very small customer it was exciting. Each time the manager sees me he comes over to personally greet me - that’s in the branch or even in the street. One day I walked in wishing to make a small deposit of $750,000, no problem he said and arranged it all. Then one day I walked in, again to be greeted by the manager, and asked for a small personal loan to make repairs on my vehicle as well as undertake training to open my own business. He found the right person to talk with and the loan was arranged with the money available in a day after all the paperwork was completed. As someone living in a remote rural area and my account usually at zero, the service I am getting is very very good.

Read full review

I walked in the door and asked to open an account. I had not dealt with Comm Bank for 20 years. The person who greeted me is the manager. Was given immediate service, and being a very very small customer it was exciting. Each time the manager sees me he comes over to personally greet me - that’s in the branch or even in the street. One day I walked in wishing to make a small deposit of $750,000, no problem he said and arranged it all. Then one day I walked in, again to be greeted by the manager, and asked for a small personal loan to make repairs on my vehicle as well as undertake training to open my own business. He found the right person to talk with and the loan was arranged with the money available in a day after all the paperwork was completed. As someone living in a remote rural area and my account usually at zero, the service I am getting is very very good.

Price
9/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Doug., Victoria, reviewed about 1 month ago
Jacaranda Finance Secured Personal Loan (Fixed, Prime Credit)
Overall 10/10
Fairly straight forward

Had no problems at all. Straight forward and to the point.

Read full review

Had no problems at all. Straight forward and to the point.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Corrine, Queensland, reviewed about 1 month ago

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