Personal loan rates cut for the festive season

09 Dec 2019

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If you’ve been toying with the idea of an end of year getaway or your New Year’s resolution is to finally tackle that home reno, you'll be excited to hear that there has been a wave of personal loan rate cuts in the lead up to the festive season.

Mozo Experts have revealed that a whopping twenty lenders have slashed their unsecured personal loan rates in recent months, with rates now available from under 7.00% for good credit borrowers.

“With so many low rates on offer, personal loans are an affordable way to access extra funds over the festive season. Depending on the loan term and amount, these new rates could make a significant difference to a borrower’s bottom line,” said Mozo Data Manager Peter Marshall.

So, whether you’re wanting to take a last minute holiday or need to cover Christmas expenses, read on for the Mozo Editors' round up of some of the top low rate personal loans on the market right now.

TOP LOW RATE PERSONAL LOANS - rates updated daily

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OurMoneyMarket

OurMoneyMarket

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

interest rate

8.00% p.a.

comparison rate*

8.21% p.a.based on $30,000
over 5 years

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MoneyPlace

MoneyPlace

Unsecured Personal Loan (Fixed)

interest rate

7.65% p.a.to 26.99% p.a.

comparison rate*

7.65% p.a.to 23.5% p.a.based on $30,000
over 5 years

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SocietyOne

SocietyOne

Unsecured Personal Loan (Fixed)

interest rate

7.50% p.a.to 14.99% p.a.

comparison rate*

9.51% p.a.to 12.71% p.a.based on $10,000
over 3 years

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Wisr

Wisr

Unsecured Personal Loan (Fixed)

interest rate

7.95% p.a.to 19.45% p.a.

comparison rate*

8.78% p.a.to 20.4% p.a.based on $30,000
over 5 years

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Symple Loans

Symple Loans

Personal Loan (Variable, Unsecured)

interest rate

5.75% p.a.to 21.99% p.a.

comparison rate*

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

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ANZ

ANZ

Unsecured Personal Loan (Fixed)

interest rate

12.45% p.a.

comparison rate*

13.32% p.a.based on $30,000
over 5 years

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CUA

CUA

Unsecured Personal Loan (Fixed)

interest rate

9.89% p.a.

comparison rate*

10.14% p.a.based on $30,000
over 5 years

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Heritage Bank

Heritage Bank

Standard Personal Loan (Fixed, Unsecured)

interest rate

8.99% p.a.

comparison rate*

9.62% p.a.based on $30,000
over 5 years

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NOW FINANCE

NOW FINANCE

Unsecured Personal Loan (Fixed)

interest rate

7.45% p.a.to 16.95% p.a.

comparison rate*

9.07% p.a.to 18.53% p.a.based on $30,000
over 5 years

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OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan (Very Good Credit) (Fixed, Unsecured)

interest rate

9.35% p.a.

comparison rate*

9.67% p.a.based on $30,000
over 5 years

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^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 for the amounts and terms below, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. WARNING: 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. ^Based on $10,000 over 3 years ^^Based on $30,000 over 5 years

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