The best personal loans in Australia for 2019

Rhianna Dews

09 Oct 2019

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Whether you’re hungry for a new set of wheels, or you’ve decided to channel your inner Scott Cam and take on a full-scale Block-inspired home reno project, you’re probably on the hunt for a value-packed personal loan.

In October last year, we announced the winners of our 2018 Mozo Experts Choice Awards for Personal Loans. After conducting a thorough analysis of personal loans from 74 financial institutions, our Mozo experts crowned only the best 10% as winners.

Here’s a handful of some of the 2018 Mozo Experts Choice Award-winning personal loans, you’ll be sipping mojitos by your new pool in no time!

EXCELLENT CREDIT PERSONAL LOANS

Promoted

Harmoney Unsecured Personal Loan
  • Fixed rates from 6.99% p.a. (7.69% p.a. comparison rate^)

  • No ongoing fees

  • Make fee-free extra repayments

  • 2018 Mozo Experts Choice winner in the Excellent Credit personal Loan category

What we think:

If you’ve worked hard for a great credit score, why not go for a personal loan that’ll reward you for it? It just so happens that with the Harmoney Unsecured Personal Loan, the better your credit score, the better the rate you get. The loan offers competitive fixed rates starting at 6.99% p.a. (7.69% p.a. comparison rate^) on loans between $5,000 to $70,000, plus, loads of juicy features, like free extra repayments and the added benefit of a free redraw facility.

Read the full Mozo review

NEW CAR LOAN

Promoted

Suncorp Car Loan
  • Low fixed 5.49% interest rate (6.09% comparison rate*)

  • Free extra repayments and redraw facility

  • Flexible repayment options

What we think:

In the market for a new set of wheels and a car loan to go with it? Look no further than the Suncorp Car Loan. This car loan features a sweet low fixed rate of 5.49% (6.09% comparison rate*) and flexible repayment options, so you can pay off your loan on schedule that suits you best. And if you’re keen to pay off your loan sooner, you’ll be able to at no extra cost, thanks to the free extra repayments feature. Just keep in mind though, paying this loan off 12 months before settlement will incur a $300 early repayment fee. 

Promoted

People's Choice Credit Union Discounted Personal Car Loan
  • Fixed rates from 5.64% p.a. (5.99% p.a. comparison rate^)

  • $0 monthly fee on People’s Choice Credit Union Zip Bank Account

  • Free extra repayments and free redraw facility

  • 2018 Mozo Experts Choice winner in the New Car Personal Loan category

What we think:

If you’re about to purchase a new car of up to 2 years old, then the People’s Choice Credit Union Discounted Car Loan is likely to catch your eye! This loan offers some of the hottest rates around, starting at a fixed rate of 5.64% p.a. (5.99% p.a. comparison rate^) on amounts between $20,000 and $100,000. Not to mention a bunch of flexible features, from fee-free extra repayments so you can pay off your loan as quickly as you like, to a free redraw facility, just in case you need to dip in for some extra cash. Plus, if you have a People’s Choice Credit Union Zip Bank Account you won’t be charged the $250 monthly fee.

GREEN CAR LOAN

Promoted

loans.com.au Clean Green Car Loan
  • Fixed rates from 4.19% p.a. (4.73% p.a. comparison rate^)

  • Make repayments weekly, fortnightly or monthly

  • Ability to make free extra repayments

  • 2018 Mozo Experts Choice winner in the Green Car Personal Loan category

What we think:

The Loans.com.au Clean Green Car Loan's unbelievably low fixed rates start at 4.74% p.a. (5.29% p.a. comparison rate^) on loans between $5,000 to $100,000, and if that’s not enough of an incentive to go out and buy an eco-friendly ride, then we don’t know what is! But, if you're still not sold, then we think you'll be happy to know that this loan offers flexible repayment options, giving you the choice of either weekly, fortnightly or monthly payments, and the ability to make fee-free extra repayments to clear your loan quicker and save on interest.

Read the full Mozo review

^ 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

Check out the Mozo Experts Choice Awards full winners list or if you’re after even more options, take a look at our personal loan comparison table

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