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Debt Consolidation Loans

  • A debt consolidation loan can help you to get out of debt faster and save on interest repayments by combining all your debts into one low cost loan. Mozo compares debt consolidation loans from Australia's banks and non-bank lenders to help you find the best loan for your needs.

  • Choosing a loan to consolidate debt.

    If you are finding it hard to stay on top of all of your loan, credit card and store card repayments, a personal loan could help you to get out of debt sooner and avoid bad credit. To find the best debt consolidation loan it is good idea to use a debt consolidation calculator to work out what your monthly repayments will be before you apply.

  • What interest rates will I have to pay on debt consolidation loans?

    The interest rate on debt consolidation loans will depend on a number of factors including whether you are taking out a secured or unsecured debt consolidation loan. A secured loan will usually have a lower rate because you are putting up an asset as security.

  • Do these loans have fees?

    Yes. Standard fees on debt consolidation loans include an application fee, loan service fee and default fees if you miss a repayment or don't make the full repayment amount. You may also have to pay an early termination fee if you pay out your loan early.

  • Is it easy to qualify for a debt consolidation loan?

    Each Australian banking provider has its own criteria for consolidation loan qualification so it will depend on the amount of debt you're in and your credit history. It is unlikely you will qualify for an unsecured loan if you have bad credit history, have been bankrupt in the last 10 years, or you are currently unemployed.

Debt consolidation personal loan comparisons on Mozo - rates updated daily

years
  • Unsecured Personal Loan

    Fixed

    • Apply online and get an instant response in 60 seconds
    • Borrow from $5,000 up to $50,000
    • Fixed set monthly repayment terms to help you manage your budget

    interest
    rate

    9.50% p.a.to 15.99% p.a.

    comparison
    rate*

    10.06% p.a.to 16.53% p.a.based on $30,000
    over 5 years

    fees

    $150.00upfront
    and
    $5.00/month

    monthly
    repayment**

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 9.50% would cost $38,253.35 including fees.**

  • MOZO EXPERTS CHOICE 2017

    Unsecured Personal Loan

    Fixed

    • Up to $70,000, unsecured. Fast, easy & 100% online
    • No hidden fees or early repayment penalties with Australasia's leading marketplace lending website
    • You're unique, so is your interest rate

    interest
    rate

    6.99% p.a.to 26.95% p.a.

    comparison
    rate*

    7.69% p.a.to 28.21% p.a.based on $30,000
    over 5 years

    fees

    $500.00upfront
    and
    $0.00/month

    monthly
    repayment**

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,133.67 including fees.**

  • Unsecured Personal Loan

    Fixed

    • Low personalised rates, for borrowers with excellent credit
    • Borrow between $5,000-$35,000
    • Easy online application - Get a response in minutes

    interest
    rate

    8.50% p.a.to 19.95% p.a.

    comparison
    rate*

    9.36% p.a.to 20.91% p.a.based on $30,000
    over 5 years

    fees

    $595.00upfront
    and
    $0.00/month

    monthly
    repayment**

    Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 8.50% would cost $37,524.76 including fees.**

  • Discount Unsecured Personal Loan

    Variable

    • $0 establishment fee (save $120) for a limited time only. Conditions apply
    • No penalties for early payout or extra repayments. Free redraw.
    • No monthly fees

    interest
    rate

    10.89% p.a.

    comparison
    rate*

    10.89% p.a.based on $30,000
    over 5 years

    fees

    $0.00upfront
    and
    $0.00/month

    monthly
    repayment**

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 10.89% would cost $39,037.69 including fees.**

  • Featured product

    Featured product

    Unsecured Personal Loan - Excellent Credit

    Fixed over 5 years

    • Low rates that reward your good credit
    • Apply online in minutes
    • No monthly or early repayment fees

    interest
    rate

    8.35% p.a.to 11.40% p.a.

    comparison
    rate*

    9.61% p.a.to 13.13% p.a.based on $30,000
    over 5 years

    fees

    $300.00upfront
    and
    $0.00/month

    monthly
    repayment**

    5 year term only. Representative example: a 5 year $30,000 loan at 8.35% would cost $37,099.76 including fees.**

  • MOZO EXPERTS CHOICE 2017

    Unsecured Personal Loan - Excellent Credit Rating

    Fixed

    • No hidden fees, no monthly fees
    • Some customers will receive a special $0 establishment fee
    • 100% Online, apply in minutes

    interest
    rate

    7.65% p.a.to 21.00% p.a.

    comparison
    rate*

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

    fees

    $0.00upfront
    and
    $0.00/month

    monthly
    repayment**

    Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 7.65% would cost $36,196.75 including fees.**

  • Unsecured Personal Loan

    Fixed

    • Borrow from $3K to $40K
    • Flexible repayment options
    • Extra repayments allowed

    interest
    rate

    12.99% p.a.to 19.99% p.a.

    comparison
    rate*

    14.06% p.a.to 21.02% p.a.based on $30,000
    over 5 years

    fees

    $195.00upfront
    and
    $12.00/month

    monthly
    repayment**

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 12.99% would cost $41,861.32 including fees.**

Want more? Compare all 195 personal loans in the Mozo comparison engine.

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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 quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

**Representative example figures and monthly repayment figures are estimates only, based on the advertised rate, mandatory fees, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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