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Secured Personal Loans

  • Want money for a new car, holiday or to consolidate debts? Secured personal loans let you borrow against an asset and in return you pay a lower interest rate. Check out the table below for some of current secured personal loan deals on the market.

  • What's the difference between secured and unsecured loans?

    A secured loan is a loan when an asset owned by you is put up as security for the loan. In return for putting up the asset as security you generally pay a lower interest rate as their is less risk to a lender. An unsecured loan is where you don't have to put up any collateral for the loan but because there is higher risk, you generally have to pay a higher interest rate. For more info, check out our guide on types of personal loans.

  • What interest rate will I pay on a secured personal loan?

    Most lenders will have a choice between a fixed interest rate and a variable interest rate. Variable rate secured loans often have more flexibility such as extra repayment options and redraws but rates are usually higher than fixed rates. Fixed rate loans are lower but you don't have the ability to change your repayments.

  • Can I repay a secured loan out early?

    Yes, but you may have to pay a fee and/or it will depend on how much time is left on the personal loan. Some lenders will waive fees if there is less than 6 months left. Variable rate loans generally also have more flexibility with early payouts. With fixed rate personal loans, you'll generally have to pay break costs on top of an early penalty fee so this is a more expensive option.

Personal loan comparisons on Mozo - rates updated daily

  • Secured Personal Loan

    secured by vehicle up to 6 years old, Fixed

    • No monthly fees
    • Flexible terms from 1 - 5 years
    • Fast online conditional approval

    interest
    rate

    6.89% p.a.

    comparison
    rate*

    7.24% p.a.based on $30,000
    over 5 years

    fees

    $250.00upfront
    and
    $0.00/month

    monthly
    repayment**

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.89% would cost $35,798.81 including fees.**

  • Personal Loan

    Fixed, Secured

    • No ongoing fees
    • Fast approval secure personal loan
    • Choose to repay over 1 to 7 years

    interest
    rate

    7.49% p.a.to 15.00% p.a.

    comparison
    rate*

    8.04% p.a.to 15.58% p.a.based on $30,000
    over 5 years

    fees

    $380.00upfront
    and
    $0.00/month

    monthly
    repayment**

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 7.49% would cost $36,439.75 including fees.**

  • Secured Personal Loan

    vehicles up to 2 years old, Variable

    • Fast online conditional approval and same day funding available
    • Borrow anything from $10,000 to $75,000 with loan terms up to 10 years
    • Free online redraws and no penalties on early loan payout or lump sum payments

    interest
    rate

    7.99% p.a.

    comparison
    rate*

    8.96% p.a.based on $30,000
    over 5 years

    fees

    $200.00upfront
    and
    $10.00/month

    monthly
    repayment**

    Terms from 1 to 10 years. Representative example: a 5 year $30,000 loan at 7.99% would cost $37,288.90 including fees.**

  • Secured Personal Loan

    Fixed

    • Fast online application, submit and receive a response in 60 seconds
    • Fliexible loan terms
    • Borrow from $2K to $80K

    interest
    rate

    8.49% p.a.

    comparison
    rate*

    9.60% 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 8.49% would cost $37,836.08 including fees.**

  • Low Rate Personal Loan

    Fixed, Secured

    • Available to new Latitude personal loan customers only
    • Applicants must be mortgage holders or homeowners
    • Applicants need an excellent credit score to apply

    interest
    rate

    10.99% p.a.

    comparison
    rate*

    12.21% p.a.based on $30,000
    over 5 years

    fees

    $250.00upfront
    and
    $13.00/month

    monthly
    repayment**

    Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 10.99% would cost $40,307.39 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, 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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