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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


    Unsecured Personal Loan

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


    4.47% 9.56% p.a.


    10.03% 11.05% p.a.based on $10,000
    over 3 years


    Terms from 1 to 5 years. Representative example: a 3 year $10,000 loan at 4.47% would cost $11,004.07 including fees.

  • promoted

    Unsecured Personal Loan - Excellent Credit Rating


    • No hidden fees, no monthly fees
    • Fixed rates are tailored to you
    • 100% Online, apply in minutes


    7.75% 21.00% p.a.


    7.75% 21.0% p.a.based on $30,000
    over 5 years


    Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 7.75% would cost $36,282.53 including fees.

Want more? Compare all 185 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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