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Peer to Peer Personal Loans

  • Peer to peer lending is new to Australia but promises to shake up the personal loan space by cutting out the banks. Fast and flexible, P2P loans offer standout rates, low fees and access to funds on the same day in some cases. Check out the table below to compare the P2P deals available now!

  • Do peer to peer loans have fixed or variable interest rates?

    The major P2P players in Australia only offer unsecured fixed interest rates. Generally peer to peer lenders use a risk-based tier system, which means the best rate will be given to those with a squeaky clean credit rating.

  • Do peer to peer loans have fees?

    Yes, however peer to peer borrowing fees are generally lower than those attached to personal loans from the big banks, with some P2P providers offering no application, ongoing fees or exit fees.

  • How do I apply for a peer to peer loan?

    In a flash by clicking on the blue ?go to site? button, which will take you to the peer to peer providers online application page. The benefit of a P2P loan is the fast online approval process, which in some cases means the funds will be in your account on the same day.

Personal loan comparisons on Mozo - rates updated daily

  • MOZO EXPERTS CHOICE 2017
    promoted

    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 29.99% p.a.

    comparison
    rate*

    7.69% p.a.to 31.95% 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 $36,727.56 including fees.**

  • 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

    7.65% 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.**

  • MOZO EXPERTS CHOICE 2017
    promoted

    Unsecured Personal Loan

    Fixed

    • Low rates for borrowers with good credit
    • 1 min rate estimate, simple online application
    • No exit fees, no early repayment fees

    interest
    rate

    8.46% p.a.

    comparison
    rate*

    9.23% p.a.based on $10,000
    over 3 years

    fees

    $75.00upfront
    and
    $0.00/month

    monthly
    repayment**

    Terms from 1 to 5 years. Representative example: a 3 year $10,000 loan at 8.46% would cost $11,517.82 including fees.**

  • promoted

    Personal Loan

    Fixed, Unsecured

    • Borrow today and use the money where you need to
    • Easy online application
    • For people with excellent credit

    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 $38,257.20 including fees.**

Want more? Compare all 190 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, loan amount and term entered. Fees are included in the representative example but not the monthly repayment. 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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