Don’t get stung by high personal loan rates

Polly Fleeting

03 May 2021

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Many Aussie personal loan lenders have slashed rates over the last 12 months, with many hitting all-time lows. But the truth is, some rates remain stubbornly high, which means that you could be missing out on a better deal by not shopping around.

According to the Mozo database, the lowest unsecured personal loan variable rate for low-risk customers sits at 4.15% p.a. (5.09% p.a. comparison rate*) while the highest rate skyrockets to 16.00% p.a. (16.31% p.a. comparison rate*). That’s a massive 11.85% difference!

You may be asking yourself, with the curveball of COVID-19 is it still possible to get your hands on one of these low interest personal loans? If you have a solid credit history and a steady income, then the answer is yes! 

So if you need a hand to start your search for a killer personal loan to avoid paying too much in interest, we are here to help. Scroll down for some of the top low interest personal loan options right now.

LOW RATE PERSONAL LOANS JUNE 2021

Rates updated daily. Advertiser disclosure.

  • Promoted

    NOW Finance

    NOW Finance

    No Fee Unsecured Personal Loan (Fixed)

    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

  • Promoted

    OurMoneyMarket

    OurMoneyMarket

    Low Rate Personal Loan (Excellent Credit) (Fixed, Unsecured)

    5.45% p.a.to 8.48% p.a.

    6.07% p.a.to 8.84% p.a.based on $30,000
    over 5 years

  • Promoted

    Alex Bank

    Alex Bank

    Personal Loan (Unsecured, Fixed)

    4.99% p.a.to 19.99% p.a.

    4.99% p.a.to 19.99% p.a.based on $30,000
    over 5 years

  • Promoted

    Harmoney

    Harmoney

    Unsecured Personal Loan (Fixed)

    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

  • Promoted

    Plenti

    Plenti

    Personal Loan (Unsecured, Fixed, Excellent Credit)

    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

  • Promoted

    SocietyOne

    SocietyOne

    Unsecured Personal Loan (Excellent Credit, Fixed)

    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

^See information about the Mozo Experts Choice Personal loans Awards