Australia’s best personal loans of 2017

If you’ve got your heart set on a new car, a much-needed kitchen renovation or a well-deserved holiday, you might be looking around for the best personal loan to help pay for it.

But the question is: which one? After all, it’s no secret that choosing the best loan is sometimes much easier said than done.

To help you find the right loan for your needs, the Mozo editors have scoured through the 184 personal loans in our database and handpicked a list of some of the best personal loans around for all types of borrowers. Check them out:


MoneyPlace - Unsecured Personal Loan
  • Fixed rates from 7.75% for borrowers with excellent credit (7.75% comparison rate^^)
  • $0 ongoing or application fees
  • Mozo Experts Choice Award winner
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What we think:

Got an excellent credit score? Then you could access a super low rate with  MoneyPlace and borrow between $5,000 and $35,000 without having to put up an asset as security. Terms are available for 3 - 5 years, but with a free extra repayments feature on offer and no early repayment penalty, you’ll pay off your loan in no time.


Citi - Personal Loan Plus
  • Access to a reusable credit facility with a low 8.99% rate (9.96% comparison rate^^)
  • $10 monthly fee waived in the first year
  • Borrow as much as $75,000
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What we think:

If you don’t have an asset to put up as security against your loan, you can still bag great value with the Citi Personal Loan Plus. You can choose a term between 3 - 5 years, and borrow up to $75,000. Flexible features include free extra repayments to help you get your loan paid off quicker, plus free redraw. And the best news is there’s no penalty for repaying the whole loan early.


ANZ - Unsecured Personal Loan
  • Low fixed and variable rate options available
  • Free extra repayments feature included
  • Mozo Experts Choice Award winner
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What we think:

For those borrowers who prefer to stick with a major bank, the ANZ Unsecured Personal Loan offers fixed rates starting from 10.99% and variable from 15.99%. You can borrow up to $50,000 without putting any of your assets down as security, plus choose to make repayments weekly, fortnightly or monthly. Both fixed and variable rate options come with free extra repayments, but only the variable offer has a redraw facility available.

BEST NEW CAR LOAN - New Car Loan - Prime Special
  • 5.44% fixed rate (5.99% comparison rate^^)
  • Loan amounts up to $100,000
  • Make fee-free extra repayments
​What we think:

Whether you need a brand new set of wheels for your next road trip, or just to get you to the shops on the weekend, the New Car Loan is a wallet-friendly way to get them. The loan is available for terms between 3 - 5 years and you can choose between monthly, fortnightly or weekly repayments. There is also a free extra repayments feature on offer, and no early repayment fee in the last year of the loan.


Great Southern Bank - Secured Car Loan
  • 6.79% fixed rate (6.92% comparison rate^^)
  • No ongoing service fees (application fee applies)
  • Terms from 1 - 7 years
What we think:

If a second-hand car is the set of wheels for you, then the CUA Secured Car Loan could be the product to get you there. Available for up to $100,000, this loan comes with free extra repayments to help you save on interest, plus a redraw facility. Along with having a super low fixed rate, you can also choose to make repayments, monthly, fortnightly or weekly to suit your budget.

* 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.

^See information about the Mozo Experts Choice Personal Loan 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.