Best personal loans in Australia – November 2025

By Peter Terlato · · 5 min read
Fact Checked
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Couple renovating their home with a personal loan

A personal loan can be helpful when you need extra funds – whether it’s for consolidating debt, buying a car, planning a wedding or covering unexpected expenses. With so many banks, credit unions and digital lenders offering loans, choosing the right one can feel overwhelming.

We’ve rounded up some of the best personal loans in Australia. This includes winners of the 2025 Mozo Experts Choice Awards and Mozo People’s Choice Awards, along with standout picks selected by our editors for their competitive rates, flexible features and overall value.

For a deeper dive into personal loans, including a full FAQ, keep scrolling.

Mozo Editor’s Pick: top-rated personal loans

Mozo Editor's Pick for Personal Loans

Our editors selected a range of standout personal loans based on value, flexibility and customer benefits. These offer a strong mix of competitive rates, useful features, and transparent fees.

Mozo may receive payment if you click products on our site. Mozo does not compare the entire market.
Important disclosures and comparison rate warning*
Revolut Unsecured Personal Loan
  • Rates from 6.17% p.a. (6.17% comparison rate*)
  • No monthly fees or penalties for early repayments
  • Apply and manage everything in-app

Competitive fixed rates for borrowers on 1-7 year loans from $5,000 up to $50,000. $0 monthly fees and no early repayment fees to pay. Fast application process on the Revolut app. According to Revolut and subject to loan approval, receive your money into your Revolut account straight away.

Harmoney Unsecured Personal Loan
  • Rates from 5.76% p.a. (5.76% p.a. comparison rate*)
  • Funds available as quickly as 24 hours after loan acceptance
  • Borrow between $2,000 and $100,000 with no early repayment fees

Online lender Harmoney has made a name for itself with its quick, low-cost personal loans. The Harmoney Unsecured Personal Loan offers competitive fixed rates, particularly for borrowers with strong credit scores. With an efficient 100% online application process, Harmoney claims customers could receive funds within just 24 hours of approval. With Harmoney’s Unsecured Personal Loan, borrowers can choose between either weekly, fortnightly or monthly flexible repayment options over loan terms of 3 to 7 years. You'll need to earn above $30,000 a year to qualify, and there's a flat $295 establishment fee. However, this fee is waived for customers who qualify for the lowest rate.

Mozo Experts Choice Awards 2025 winners

Mozo Experts Choice Awards Badge 2025

Our research team analyses hundreds of loan products to uncover the best value options. The following lenders were recognised in the 2025 Mozo Experts Choice Awards for Personal Loans.

Mozo may receive payment if you click products on our site. Mozo does not compare the entire market.
Important disclosures and comparison rate warning*
Now Finance Unsecured Personal Loan
  • Fixed interest rates starting at 5.95% p.a. (5.95% p.a. comparison rate*)
  • Borrow up to $50,000 unsecured
  • No establishment or service fees

With fixed interest rates starting at 5.95% p.a. (5.95% p.a. comparison*), online lender Now Finance’s Unsecured Personal Loan could be a top option to consider for borrowers with excellent credit looking to borrow between $5,000 and $50,000.

The Now Finance loan has a maximum loan term of 7 years, no upfront application or ongoing fees, and flexible weekly and fortnightly repayment options. Plus, you can pay off the loan early without incurring a fee. This loan was recognised in the Excellent Credit Unsecured Personal Loan category in this year’s Mozo Experts Choice Awards.

Our Money Market Low Rate Personal Loan
  • Rates from 6.28% p.a. (6.28% p.a. comparison rate*) for excellent credit borrowers
  • Free redraw facility and extra repayments
  • No service fee

OurMoneyMarket’s Low Rate Personal Loan (unsecured) offers competitive rates, starting at 6.28% p.a. (6.28% p.a. comparison rate*) for borrowers with excellent credit. This loan provides lots of flexibility, with loan amounts ranging between $5,000 to $75,000 (or up to $100,000 for home improvements and car loans) and 1 to 7-year loan terms. Other flexible features include a free redraw facility, the ability to pay the loan off early without penalty, plus no monthly fees.

Keep in mind that an establishment fee may be applied to your account. This is calculated on your OurMoneyMarket 'loan grade' and could be anywhere from 0% to 6% of your loan amount (the fee is added to the principal amount and paid over the loan term). A minimum income of $25,000 after tax is required to apply.

Car loan award winners

Mozo may receive payment if you click products on our site. Mozo does not compare the entire market.
Important disclosures and comparison rate warning*
IMB Secured Car Loan
  • Fixed interest rates from 5.99% p.a. (6.34% p.a. comparison rate*)
  • Fast online conditional approval
  • No monthly account fee

Hit the pedal to the metal with competitive fixed rates for borrowers on 1-7 year loans for cars up to four years old with borrowings up to 125,000. There are $0 monthly fees to pay and no early repayment fees if you choose to pay off your loan sooner. You’ll get fast conditional approval and according to IMB Bank applications take only 10 minutes. Eligibility criteria applies. T&Cs apply. Other fees may apply. No redraw facility.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 232 personal loans using the filters.
Last updated 7 November 2025 Important disclosures and comparison rate warning*

Personal loan comparisons on Mozo

  • Promoted

    Unsecured Personal Loan

    • Fixed
    Interest rate from
    5.95 % p.a.
    to
    26.95 % p.a.
    Comparison rate from
    5.95 % p.a.
    to
    26.95 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023, 2024 & 2025^'

  • Promoted

    Express Personal Loan

    • Secured
    Interest rate from
    16.95 % p.a.
    to
    29.95 % p.a.
    Comparison rate from
    32.99 % p.a.
    to
    45.5 % p.a.
    Based on $10,000 over 3 years
    Monthly repayment
    $713
    Go to site

    Access fast finance on loans from $3,000 to $25,000 with a Jacaranda Finance Personal Loan. Terms from 25-36 months. Check if you qualify with no impact on your credit score. Enjoy a speedy, online approval.

  • Promoted

    Low Rate Personal Loan

    • Exceptional Credit, $5,000 - $75,000, or up to $100,000 for eligible purposes
    Interest rate from
    6.28 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    6.28 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $611
    Go to site

    Competitive low rates for borrowers with exceptional credit on 1-7 year loans from $5,000 up to $75,000 (or up to $100K for home improvements or car loans); no monthly account keeping fees, no exit fees and no early repayment fees. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.

  • Unsecured Personal Loan

    • Fixed
    Interest rate from
    5.76 % p.a.
    to
    24.03 % p.a.
    Comparison rate from
    5.76 % p.a.
    to
    24.52 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $606
    Go to site

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

  • Debt Consolidation Loan

    Interest rate from
    5.76 % p.a.
    to
    24.03 % p.a.
    Comparison rate from
    5.76 % p.a.
    to
    24.52 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $606
    Go to site

    Roll multiple debts into one loan to streamline your finances with one set of repayments and one interest rate. Competitive fixed interest rates with no monthly or early repayment fees and flexible repayment options. Easy online application and funding in as little as 24 hours (subject to approval).

  • Unsecured Personal Loan

    • Fixed
    Interest rate from
    5.95 % p.a.
    to
    26.95 % p.a.
    Comparison rate from
    5.95 % p.a.
    to
    26.95 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023, 2024 & 2025^'

  • Unsecured Personal Loan

    Interest rate from
    6.17 % p.a.
    to
    21.99 % p.a.
    Comparison rate from
    6.17 % p.a.
    to
    22.79 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $610
    Go to site

    Competitive fixed rates for borrowers on 1-7 year loans from $5,000 up to $50,000. $0 monthly fees and no early repayment fees to pay. Fast application process on the Revolut app. According to Revolut and subject to loan approval, you'll receive your money into your Revolut account straight away.

  • Low Rate Personal Loan

    • Exceptional Credit, $5,000 - $75,000, or up to $100,000 for eligible purposes
    Interest rate from
    6.28 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    6.28 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $611
    Go to site

    Competitive low rates for borrowers with exceptional credit on 1-7 year loans from $5,000 up to $75,000 (or up to $100K for home improvements or car loans); no monthly account keeping fees, no exit fees and no early repayment fees. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.

  • Secured Personal Loan

    • Exceptional Credit, $5,000-$75,000 or up to $100,000 for eligible purposes
    Interest rate from
    6.28 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    6.28 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $611
    Go to site

    Get a secured personal loan with competitive low rates for borrowers with exceptional credit. A simple fixed interest rate that can be repaid weekly, fortnightly or monthly, over 1 to 7 years (10 years for Green Loans). Managed entirely online, at any time. No monthly account keeping fees, no exit fees and no early repayment fees. Quick and easy, 100% online application. Establishment fees apply.

  • Express Personal Loan

    • Secured
    Interest rate from
    16.95 % p.a.
    to
    29.95 % p.a.
    Comparison rate from
    32.99 % p.a.
    to
    45.5 % p.a.
    Based on $10,000 over 3 years
    Monthly repayment
    $713
    Go to site

    Access fast finance on loans from $3,000 to $25,000 with a Jacaranda Finance Personal Loan. Terms from 25-36 months. Check if you qualify with no impact on your credit score. Enjoy a speedy, online approval.

Showing 7 results from 232 personal loans. Use the filters to see more

PERSONAL LOANS INFORMATION

How to get a personal loan in Australia

Applying for a personal loan can be straightforward if you follow the right steps. Here's how the process typically works:

  1. Check your credit score – This can impact your eligibility and the interest rate you're offered.
  2. Compare lenders – Look at rates, fees, loan features and eligibility criteria.
  3. Decide on loan type – Choose between secured (uses an asset as collateral) or unsecured.
  4. Estimate costs – Use a personal loan calculator to see how much you’ll need to repay.
  5. Apply online – Submit your application and provide your documents (e.g. ID, income proof).
  6. Receive funds – If approved, funds are usually paid within 1-3 business days.

Types of personal loans

There are different types of personal loans to suit different borrowing needs:

  • Secured vs unsecured: Secured loans use an asset as collateral; unsecured loans don’t.
  • Fixed vs variable rate: Fixed rates stay the same over time; variable rates can change.
  • Debt consolidation loans: Combine multiple debts into one loan with a single repayment.
  • Car loans: Finance a new or used vehicle with fixed or variable rates.
  • Home improvement loans: Fund renovations or upgrades around your house.
  • Wedding or holiday loans: Borrow for one-off life events or getaways.
  • Green loans: Special rates for sustainable purchases like solar panels or electric vehicles.

What to look for in a personal loan

When comparing personal loans, keep an eye out for these key factors:

  • Comparison rate – This rate includes most fees and gives a clearer picture of the true cost.
  • Fees – Look for application fees, monthly fees and/or early repayment fees.
  • Loan term – Typically 1 to 7 years. Shorter terms mean higher repayments but less interest.
  • Repayment flexibility – Some lenders allow extra repayments or redraws.
  • Funding speed – Some online lenders can approve and pay funds within 24 hours.

How much will a personal loan cost me?

Your total cost depends how much you borrow, your interest, term duration, and fees charged.

Example: For a $10,000 loan over three years at 7.50% p.a. (comparison rate, which typically includes most fees), you’d repay around $311 per month and $11,200 in total.

Use our personal loan repayment calculator to estimate costs at different rates and terms.

Personal loan FAQs

What is a personal loan?

A personal loan lets you borrow a fixed amount of money and repay it over a set period with interest. It's often used for large purchases or expenses.

What’s the difference between secured and unsecured loans?

A secured loan uses an asset (like a car) as collateral. Unsecured loans don’t require security but may have higher interest rates.

Can I get a personal loan with bad credit?

It may be possible, but expect higher rates and stricter terms. Some lenders specialise in loans for borrowers with poor credit.

How much can I borrow for a personal loan?

Personal loan amounts typically range from $2,000 to $75,000, depending on the lender and your financial situation.

How long does approval take?

Some personal loan lenders offer same-day approval, while others may take 1-3 business days.

Is the interest rate fixed or variable?

It depends on the lender and product. Fixed rates offer certainty; variable rates can change over time.

Are early repayments allowed?

Many loans allow extra repayments, but some charge early exit or break fees.

What’s the difference between interest rate and comparison rate?

The interest rate is the base charge for borrowing. The comparison rate includes most fees and better reflects the true cost.

Will applying affect my credit score?

Applying for multiple loans in a short time can negatively impact your credit score.

Why compare personal loans with Mozo?

We make it easy to compare interest rates, fees and features from a wide range of lenders. Our experts also highlight award-winning options to help you make smarter money moves.

* WARNING: 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 calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.