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Debt Consolidation Personal Loans

  • A debt consolidation loan can help you to get out of debt sooner. By combining all your debts into one personal loan you can save on interest repayments. Check out the table below for some of the current deals on the market.

  • 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.

Personal loan comparisons on Mozo - rates updated daily

  • promoted

    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

    7.75% p.a.to 21.00% p.a.

    comparison
    rate*

    7.75% 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 7.75% would cost $36,282.53 including fees.

  • promoted

    Freedom Loan

    Variable, Secured

    • Pay the loan out early with no additional fees
    • Fast, 30-minute approval available
    • Borrow from $4,000 to $75,000

    interest
    rate

    8.94% p.a.to 10.69% p.a.

    comparison
    rate*

    9.85% p.a.to 11.59% p.a.based on $30,000
    over 5 years

    fees

    $250.00upfront
    and
    $8.00/month

    monthly
    repayment**

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 8.94% would cost $38,042.65 including fees.

  • promoted

    Unsecured Personal Loan

    Fixed

    • A Fixed Personal Loan with terms from 1 to 7 years
    • 60 Sec. Response time
    • Borrow up to $50,000

    interest
    rate

    10.99% p.a.

    comparison
    rate*

    11.87% p.a.based on $30,000
    over 5 years

    fees

    $150.00upfront
    and
    $10.00/month

    monthly
    repayment**

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 10.99% would cost $40,177.39 including fees.

  • promoted

    Personal Loan

    Variable, Unsecured

    • No monthly fees. No Exit Fees.
    • Queensland borrowers only
    • Borrow from $3K to $60K

    interest
    rate

    12.95% p.a.to 15.55% p.a.

    comparison
    rate*

    13.54% p.a.to 16.16% p.a.based on $30,000
    over 5 years

    fees

    $395.00upfront
    and
    $0.00/month

    monthly
    repayment**

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 12.95% would cost $41,304.47 including fees.

  • promoted

    Unsecured Personal Loan

    Variable

    • A Variable Personal Loan with terms from 1 to 7 years
    • 60 Sec. Response time
    • Borrow up to $50,000

    interest
    rate

    15.99% p.a.

    comparison
    rate*

    16.84% p.a.based on $30,000
    over 5 years

    fees

    $150.00upfront
    and
    $10.00/month

    monthly
    repayment**

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 15.99% would cost $44,512.94 including fees.

Want more? Compare all 184 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.

**Monthly repayment figures are estimates only, based on the loan amount and term entered, excluding fees. Actual repayments will depend on your individual circumstances and interest rate changes.

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