Top ways to get a cheap personal loan

By Gabriella Margerison · · 1 min read
Fact Checked
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Whether it’s time to consolidate high interest debt, tick off that bucket list holiday, pay for your wedding or give your home the facelift it needs, a personal loan is a great option for those looking to borrow a lump sum of money.

Cheaper than most forms of credit and featuring convenient monthly installments, a personal loan is not only a fast and efficient way to get those big ticket items you just can’t afford, but most are unsecured, which means you won’t have to put any collateral against the loan you’re taking.

With a myriad of lenders in the market offering some great deals, now’s the right to compare and see if a personal loan is the right option for you

10 Top Personal Loans

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 233 personal loans.
Last updated 14 March 2025 Important disclosures and comparison rate warning*
  • Low Rate Personal Loan

    Excellent Credit, $5,000 - $75,000

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 8.39% p.a.
    7.19% p.a.to 8.75% p.a.based on $30,000
    over 5 years

    Competitive low rates for borrowers with excellent credit on 1-7 year loans from $5,000 up to $75,000, plus free extra repayments. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

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  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.75% p.a.to 26.95% p.a.
    6.75% p.a.to 26.95% p.a.based on $30,000
    over 5 years

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023 & 2024^'

    Repayment terms from 2 years to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,430.23 including fees.

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  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.74% p.a.to 24.54% p.a.
    7.57% p.a.to 25.32% p.a.based on $30,000
    over 5 years

    Borrow $5,000 to $62,000. Transparent terms and online tools. Fast Online Application. 3, 5 and 7 year loan terms. Zero early repayment and exit fees. Fast online application process.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.74% would cost $36,016.77 including fees.

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  • Secured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.29% p.a.to 19.19% p.a.
    6.72% p.a.to 20.77% p.a.based on $30,000
    over 5 years

    Competitive rates depending on credit score. No monthly or early repayment fees. No penalties for paying your loan off sooner. Borrow from $5,000 to $80,000. Your choice of 3, 5 or 7 year terms. You will be given the option to use a vehicle as collateral to secure your loan. One upfront fee applies.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.29% would cost $35,352.28 including fees.

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  • Debt Consolidation Loan

    $5,000-$75,000

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 19.39% p.a.based on $30,000
    over 5 years

    Competitive fixed rates on loans up to $75,000 depending on your credit score. Zero monthly account keeping fees, no exit fees and no early repayment fees. Make weekly, fortnightly or monthly repayments, over 1 to 7 years managed entirely online, at any time. Fast and easy, 100% online application.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

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  • Ready Credit Personal Loan - 3 Year Fixed Rate, Balance Transfer Offer

    Unsecured

    interest rate
    comparison rate
    Monthly repayment
    6.90% p.a.
    n/a

    Enjoy a competitive rate on the initial balance that you request to be transferred to your bank account within 3 months of approval. Choose your repayments each month above the minimum payment due. Apply online in as little as 10 minutes. Only pay interest on the amount you have used, not on your whole credit limit. A one-off establishment fee of $249. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.

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  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.99% p.a.to 19.99% p.a.
    6.99% p.a.to 21.49% p.a.based on $30,000
    over 5 years

    Competitive rates depending on credit score. No monthly or early repayment fees. No penalties for paying your loan off sooner. Borrow from $5,000 to $80,000. Your choice of 3, 5 or 7 year terms. One upfront fee applies.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $35,633.67 including fees.

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  • Home Improvement Loan

    Excellent Credit, $5,000 - $100,000

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 8.39% p.a.
    7.19% p.a.to 8.75% p.a.based on $30,000
    over 5 years

    Give your home a refresh with the 2025 Mozo award-winning provider OMM. Borrow up to $100,000 for loan terms 1-7 years. Flexible weekly, fortnightly or monthly repayment options. No monthly, early repayment or exit fees. Fast 100% online application.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,278.12 including fees.

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  • Express Personal Loan

    Secured

    interest rate
    comparison rate
    Monthly repayment
    16.95% p.a.to 29.95% p.a.
    32.99% p.a.to 45.5% p.a.based on $10,000
    over 3 years

    Access fast finance on loans from $3,000 to $25,000 with a Jacaranda Finance Personal Loan. Terms from 25-36 months. Check if you qualify with no impact on your credit score. Enjoy a speedy, online approval.

    Repayment terms from 2 years to 3 years. Representative example: a 3 year $10,000 loan at 16.95% would cost $14,952.03 including fees.

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  • Secured Personal Loan

    $5,000-$75,000

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 19.39% p.a.based on $30,000
    over 5 years

    Get a secured personal loan with competitive low rates for borrowers with excellent credit. A simple fixed interest rate that can be repaid weekly, fortnightly or monthly, over 1 to 7 years (10 years for Green Loans). Managed entirely online, at any time. No monthly account keeping fees, no exit fees and no early repayment fees. Quick and easy, 100% online application. Establishment fees apply.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

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    Details

* 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.

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