Don’t get stung by high personal loan rates

When it comes to finding a great low-rate personal loan, shopping around is a must.  With unpredictable rate movements, it's more important than ever to compare your personal loan options before locking in an option.

In the Mozo database, the lowest 3-year fixed unsecured personal loan rate currently starts at 5.76% p.a. (6.55% p.a. comparison rate*), excluding green loans, with the highest maximum interest rate a whopping 27.95% p.a. The average rate in our database for an unsecured variable rate loan currently stands at 10.18% p.a., well and truly higher than many loans available to the savvy searcher.^

So is it still possible to get your hands on a low-interest personal loan in a rising rates environment? Well, if you have a steady income, solid credit history and are willing to do a little extra leg work, the answer could be yes! 

The first step is to start your search for a killer personal loan and compare your options. Picking the easy option from your regular banking provider could be costing you major interest in the long run.

Scroll down for some of the top low-interest personal loan options right now.

Source: Mozo database as at 17 April, 2025