What are your 2022 goals? A personal loan could help make them happen

family on the beach enjoying 2022 holiday after taking out personal loan

2022 is the year to start kicking goals! As we begin to return to some kind of post-COVID normalcy, there are more opportunities to make your goals happen. What are you hoping to achieve?

Whether you’re looking to install some solar panels on your house or want to travel to your dream destination, the cost can always be a reason to procrastinate and delay. But why wait?

If you’re looking to start achieving your 2022 goals now, a personal loan could be just what you’re looking for.

Check out the options below to look for a personal loan that could fit your needs. You should also be sure that the loan you select is appropriate for your budget - compare options with a personal loan calculator.

Jet setting

Pre-pandemic, Aussies were known for our love of travel. But since March 2020, Australians haven’t been able to satisfy our wanderlust. Thankfully, in 2022, borders and opening and international holidays are back on the cards.

So, if you’re hoping to cross a dream trip off your bucket list but you’re worried about the cost, alow rate personal loan could be a good option.

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 252 personal loans.
Last updated 22 June 2024 Important disclosures and comparison rate warning*
  • Holiday Loan

    Excellent Credit

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 8.48% p.a.
    7.19% p.a.to 8.84% p.a.based on $30,000
    over 5 years

    Travel the globe with competitive low rates for borrowers with excellent credit on 1-7 year loans from $2,001 up to $75,000, plus free extra repayments. Winner of Mozo's Experts Choice award for 2024 ^. 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.

  • Mozo Expert Choice Badge
    Unsecured Personal Loan


    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.

  • Unsecured Personal Loan


    interest rate
    comparison rate
    Monthly repayment
    5.76% p.a.to 24.03% p.a.
    6.55% p.a.to 24.98% p.a.based on $30,000
    over 5 years

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.


A new set of wheels

Are you looking for a more family-friendly car? Or maybe you want to switch to an electric vehicle. Whatever your 2022 goal, if you don’t have the money to buy your new (or used) car, you might consider a car loan to help cover the cost.

OurMoneyMarket - Car Loan
  • Fixed rates from 5.35% p.a. (5.65% p.a. comparison rate*)
  • No monthly fees
  • Extra repayments allowed

Online lender OurMoneyMarket’s Car Loan impressed our judges enough to be named a Best Used Car Loan winner in the 2022 Mozo Experts Choice Awards^. Borrowers will be able to access fixed rates from as low as 5.35% p.a. (5.65% p.a. comparison rate*) depending on their credit history, and they won’t need to worry about forking out any monthly service fee. The application fee can vary from $250 to 1.5% of the loan size - whichever is larger. You can take out loans over a 1-7 year period with a borrowing range of $2,001 and $75,000, and OurMoneyMarket customers can make extra repayments towards their loan.

Heritage Bank - Car Loan
  • 4.89% p.a. (5.53% p.a. comparison rate*) fixed interest rate
  • Make extra repayments for free
  • Borrow up to $100,000

Heritage Bank’s Car Loan was named by our judges as a 2022 Mozo Experts Choice Award^ winner for best Used Car Loan - and with a competitive fixed interest rate of just 4.89% p.a. (5.53% p.a. comparison rate*), it’s not hard to see why. With amounts from $5,000 - $100,000 available, the loan could be used to fund vehicle purchases big and small, and loans can be taken out over 1-7 years. Borrowers will also be able to make extra repayments towards their balance to pay it off faster. The loan comes with a $200 application fee and a $5 monthly service fee, but remember, it was judged as one of the best value loans in our database even with those costs.

Wisr - Secured Car Loan
  • Fixed rates from 4.49% p.a. (6.61% p.a. comparison rate)*
  • Flexible repayment options
  • Borrow between $5,000 and $64,000
Find out more

One of just two winners in our Mozo Expert Choice Award^ Excellent Credit Used Car Loan category, the Secured Car Loan from Wisr features fixed rates starting from as low as 4.49% p.a. (6.61% p.a. comparison rate)* for borrowers with a top-notch credit history. Car buyers can borrow $5,000 to $64,000 with the loan over terms ranging from 3-7 years. One of the benefits of the loan is that there’s no ongoing service fee to add to your costs, though the upfront establishment fee goes up to $605 on this loan. Wisr also offers its Secured Car Loan customers the flexibility to make their repayments on a weekly, fortnightly or monthly basis, and extra repayments can also be made.

Home improvements

Are you thinking about doing some much-needed home renovation this year? While it can be a fun process, it’s one that you need to prepare for.

Whether you’re looking to do a complete renovation of your home or just want a couple of minor changes, the cost of your reno can vary greatly, depending on various factors such as the extent of the work and the specific finishes you chose.

If this project is something you’ve been setting money aside for, that’s great! But if you’re looking for other ways to finance your renovations, there are some great options, such as a personal loan.

Now Finance No Fee Unsecured Loan (Fixed)
  • Fixed interest rate from 5.95% p.a. (5.95% p.a. comparison rate*)
  • Borrow up to $50,000
  • No fees

With fixed interest rates starting at 5.95% p.a. (5.95% p.a. comparison rate*), online lender Now Finance is a top choice for borrowers with excellent credit looking to borrow between $5,000 to $50,000. You won’t be up for any upfront application or ongoing fees either. There is a standard maximum loan term of 7 years but if you’re borrowing less than $8,000 the maximum term is 3 years. You can also pay out the loan early without incurring a fee. This loan also has a choice between weekly and fortnightly payments.

Our Money Market Low Rate Personal Loan
  • Fixed rates from 5.45% p.a. (6.07% p.a. comparison rate*)
  • Borrow up to $75,000
  • Extra repayments and redraws allowed

If options and flexibility are what you need in a renovation loan, you may want to consider the OurMoneyMarket Low Rate Personal Loan. OMM offers competitive rates, which start at 5.45% p.a. (6.07% p.a. comparison) for borrowers with excellent credit. Even with the $250 application fee taken into account, it was cheaper overall than many other loans up for consideration. Available for loan amounts to $75,000 and loan terms of between 1 - 7 years, it has a lot of flexibility and no monthly fees.  Payout the loan early without penalty, access to a free redraw and choose between weekly, monthly or fortnightly repayments are other benefits.

Symple Unsecured Personal Loan
  • Rates from 5.75% p.a. (6.47% comparison)
  • Earn up to 50,000 Qantas points
  • Borrow from $5,000 to $50,000
Find out more

Is a variable rate renovation loan more your style? How about one where you can earn Qantas points? Borrowers can earn 1 Qantas point for every $1 borrowed up to $50,000 (conditions apply). There is a minimum loan amount of $5,000 and loan terms of 1 up to 7 years. Interest rates start at 5.75% p.a (6.47% p.a. comparison) but will vary depending on your credit history. Repayments are on a monthly basis, but you also have the flexibility to pay out the loan early at any time without penalty or to make extra repayments. There is a $10 monthly fee to consider, and if you don’t qualify for the lowest rate of 5.75% p.a. (6.47% p.a. comparison), you will need to pay an upfront loan application fee which can be up to 5% of the loan amount.

Going Green

Maybe you have some green renovations in mind for 2022. Environmentally friendly home improvements are top of mind for many Aussies right now, whether that’s opting for a grey water tank or installing solar panels.

Unfortunately, these more sustainable products can come with a hefty price tag. Luckily, you can get a personal loan specifically designed for green home improvements. As they are so specialised, these loans usually have a lower interest rate than regular personal loans.

Handypay Green Loan
  • Competitive fixed rates from 5.79% p.a. (6.36% p.a. comparison rate*)
  • Free extra repayments
  • No monthly or early repayment fees
Find out more

Whether you’re adding solar panels or installing a rainwater tank, the Handypay Green Loan may be what you need for your eco-friendly home upgrade. Handypay specialises in home renovation loans, and with its Green Loan option, it offers a low 5.79% p.a. fixed rate (6.36% p.a. comparison rate*) on loans between $2,001 and $75,000. Starting rates depend on the loan terms and amount, as well as terms and conditions. With this product, customers can pay back their debt on a weekly, fortnightly or monthly basis and make extra repayments. And the good news is, for customers that pay off their balance early, there is no hefty penalty for doing so. However, there are no redraws allowed on this loan, and there’s a $250 application fee to be mindful of too.

Community First Credit Union Green Loan
  • Super low variable rate from 3.99% p.a. (4.99% p.a. comparison rate*)
  • Free extra repayments allowed
  • Redraw facility
Find out more

Community First Credit Union's Green Loan could be the perfect option for customers looking to fund the purchase of 'green products' - from solar panels to water recycling systems. This loan comes with a competitive variable rate of 3.99% p.a. (4.99% p.a. comparison rate*) and loan terms range from $1,000 to $50,000. Rates are based on Credit eligibility criteria, as well as Community First’s terms and conditions. Customers can make extra repayments on their loan whenever they want, on top of their regular weekly, fortnightly or monthly repayments. Plus, they can make redraws on their additional contributions too. There is also no early repayment penalty for those who pay off their debt ahead of time. Just remember, there are a few fees to be wary of, like the $195 upfront application fee and an ongoing $10 monthly service fee.

Take control of existing debt

If you’re still carrying debts from last year, such as a credit card balance or a car loan, it might be time to consider consolidating.

With a debt consolidation personal loan, you can get on top of your finances with one simple payment rather than many to different places. You can also usually lower your interest rate, meaning you have more money to put towards your loan balance. This then allows you to pay off your debts sooner.

Harmoney Unsecured Personal Loan
  • Competitive rates based on credit history
  • No ongoing fees
  • Loan top-up feature

Harmoney unsecured personal loans could be a good option if you’re looking to pay down debt. They offer rates starting from only 5.35% (6.14% comparison rate*) with personalised interest rates, depending on credit, for debt consolidation. Harmoney is a peer-to-peer lender, meaning it source cash from peers who invest money via its online marketplace and offer loans between $2,000 and $70,000. When you want to borrow more, you can apply to top up your funds for a $575 fee, payable on approval. Harmoney loan terms can be either 3, 5 or 7 years, on a repayment frequency of your choice - either weekly, fortnightly or monthly. Although there are no ongoing fees, the cost to advertise your loan request on Harmoney’s peer to peer platform is $575 (but you’re only charged for it after the loan is successfully funded). And if your loan amount is under $5,000, you'll only pay a $200 fee.

NAB Personal loan
  • Fixed rates from 6.99% p.a. (7.91% p.a. comparison rate*)
  • Flexible weekly, fortnightly or monthly repayment options
  • Free extra repayments
Find out more

Looking to simplify your commitments with a single repayment? A debt consolidation loan from NAB could mean you’ll have a better idea of when you’ll be debt-free. Depending on your credit history, you could be able to access fixed interest rates between 6.99% (7.91% comparison rate*) and 18.99% (19.83% comparison rate*) with the NAB Personal Loan. The loan allows fee-free extra repayments with no early repayment penalties, so you can pay your loan off early to save even more on interest. When it comes to repaying your loan you have the option to choose between weekly, fortnightly and monthly repayments that can go on for a term anywhere between 1 to 7 years on loans between $5,000 and $55,000, letting you personalise your loan to fit with your budget. Keep in mind, this loan does come with a $150 application fee.

Tying the knot

Planning a wedding can be expensive. Want the perfect dress, venue, catering and flowers? The costs can add up fast.

If you’re finally getting married after years of COVID delays or 2022 was always going to be the year for your big day, a wedding personal loan might be what you need to have the special day you’ve always dreamed of.

Latitude Personal Loan
  • Fixed rates from 5.99% p.a. (7.32% p.a. comparison rate*)
  • Extra repayments allowed
  • Flexible payment schedule
Find out more

The Latitude Personal Secured Loan gets the ball rolling with fixed rates from 5.99% p.a. (7.32% p.a. comparison rate*), depending on credit, on loans amounts of $3,000 or more with no maximum loan amount and flexible loan term options ranging from 1 to 7 years. So, it could be a good option if you’re looking to fund your dream wedding. On top of all this, the Latitude Personal Loan offers a bunch of other features, like the ability to make extra loan repayments. Just remember a $300 early repayment penalty applies if you pay out your whole loan in the first half of your term. This loan also comes with quite a few fees, including an establishment fee, which is $140 for loans under $5,000 and $250 for loans of $5,000 or more, as well as the $13 monthly service fee.

Alex Bank Unsecured Personal Loan
  • 2022 Best Unsecured Personal Loan Mozo Expert Choice Award^ winner
  • Fixed rates from 4.99 (4.99% comparison rate*)
  • Free extra repayments
Find out more

Want to be rewarded for your good credit history? The Alex Bank Personal Loan does just that. Its competitive rates start at 4.99% (4.99% comparison rate*) and the loan also comes with flexible repayment options. Plus, if you end up paying down your entire loan early, you won’t be slapped with an early settlement fee either. There are no application or monthly fees. Just keep in mind, if you do make extra repayments on this loan, there is no redraw facility so you cannot access those funds later on if you need to.

* 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.

On the hunt for more personal loan options? Then go take a look at our personal loans hub or check out the best personal loans in Australia this month for award-winners and Mozo editor’s picks.