major banks personal loans

Major Bank Personal Loans

Are you on the hunt for a personal loan from a familiar face? The major banks offer a great range of loans including secured and unsecured loans, debt consolidation loans, car loans...the list goes on. Simply scan the table below to kick start your dreams or pay off that debt sooner!

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Fact Checked

Can I apply for major bank personal loans online?

Yes. Applying for personal loans online with a major bank can be straightforward and easy, with some banks offering a response in as little as 60 seconds. Find a loan that suits your needs from the comparison tool below, and then click on the blue ‘Go to site’ button to begin your application.

Keep in mind that even when applying online you’ll have to provide documentation such as proof of income, financial statements and personal identification, so have those on hand before you start your application.

Do major banks have the best personal loans in Australia?

What makes up a great personal loan is mostly subjective, and if you’re looking for in-branch customer service, major bank loans could be the way to go. Another benefit of lending from a major bank is that their maximum loan amounts and terms can be higher, giving you more flexibility.

As far as interest rates go, peer-to-peer lenders typically offer more competitive interest rates and lower fees, so be sure that you compare these with what the banks are offering so that you get the best deal for you. 

What kinds of personal loans can I take out with a major bank?

You can take out a personal loan for a range of purposes, whether it’s buying a new car, taking a holiday or consolidating debt. Major banks have loan ranges from small personal loans of $2000 up to big ones of $50,000 or more.  

You’ll have a choice between a secure or unsecured loan with a major bank. Secured loans are generally cheaper, but it means you’ll need to put your assets (such as your property or car) on the chopping block as security, incase you default on the loan. Unsecured loans, have higher interest rates but you will usually be able to make extra repayments at any time so that you can reduce the amount of interest you’ll need to pay.

Before you apply for a personal loan, it is a good idea to first do some number crunching with our personal loan comparison calculator so you’re confident you can afford the repayments and pay back the loan within the loan period.

How do I compare personal loans from different banks?

Comparing personal loans might at first seem confusing but we make it easy. Our comparison tables list out all the key information you’ll need to compare between banks. Be sure that you pay close attention to the comparison rate as this rate combines the fees and interest rate into one rate to help you work out the true cost of the loan. Don’t forget to plug in your loan amount and term into the calculator so that you can get an indication of the monthly repayments you’ll likely be up for.

Once you’ve compared your options, click on the ‘Go to site’ button to go directly to the lender’s website to learn more or start your loan application.

Major banks personal loan comparisons on Mozo - last updated 20 September 2021

Search promoted personal loans below or do a full Mozo database search. Advertiser disclosure.
  • Hot DealEarn two Qantas Points for each dollar of your approved NAB Personal Loan amount when you borrow anywhere from $5000 and up to $55000. Online only offer ends 30 Sept 2021
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    Personal Loan

    Fixed, Unsecured

    interest rate
    comparison rate
    Monthly repayment
    6.99% p.a.to 18.99% p.a.
    7.91% p.a.to 19.83% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,383.67 including fees.

    Borrow from $5,000 to $55,000 with a 1 - 7 year flexible loan term with NAB. Enjoy no fees for extra repayments and no early exit fees. NAB accepts documents online so you can get your funds fast.

    Compare
    Go to site
    Details
  • placeholder
    Standard Personal Loan

    Fixed, Unsecured

    interest rate
    comparison rate
    Monthly repayment
    7.99% p.a.
    8.62% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a n/a year $0 loan at 7.99% would cost $6,988.90 including fees.

    Heritage Bank discounted rates for loans starting from $5,000 to $25,000 and a choice of loan terms up to five years.

    Compare
    Go to site
    Details
  • Hot DealEarn two Qantas Points for each dollar of your approved NAB Personal Loan amount when you borrow anywhere from $5000 and up to $55000. Online only offer ends 30 Sept 2021
    placeholder
    Personal Loan

    Variable, Unsecured

    interest rate
    comparison rate
    Monthly repayment
    6.99% p.a.to 18.99% p.a.
    7.91% p.a.to 19.83% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,383.67 including fees.

    Borrow up to $55,000 for that dream kitchen renovation or holiday of a lifetime and pay no exit fees if you decide to pay out your loan early or make extra repayments. Majority of NAB borrowers will receive the headline rate of 12.69%.

    Compare
    Go to site
    Details

^See information about the Mozo Experts Choice Personal loans Awards

*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.

Personal loan lenders we compare at Mozo

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FAQ

Personal Loan Reviews

Harmoney Personal Loan
Overall 5/10
charges interest for every payment not monthly

The website says it calculates interest daily and applies it monthly but it doesn't. it applies it at every payment you make. The borrower statement does not show you when interest is due to be charged it just shows you how much interest was debited from each payment you make.

Read full review

The website says it calculates interest daily and applies it monthly but it doesn't. it applies it at every payment you make. The borrower statement does not show you when interest is due to be charged it just shows you how much interest was debited from each payment you make.

Price
1/10
Features
4/10
Customer service
4/10
Convenience
6/10
Trust
3/10
Less
Nothappy, Queensland, reviewed 4 days ago
Latitude Unsecured Personal Loan
Overall 10/10
Honest Financial Assistance

Latitude are an honest, open and communicative financial company. After my recent experience, I can only recommend them to everybody who requires secure financial assistance speedily!!

Read full review

Latitude are an honest, open and communicative financial company. After my recent experience, I can only recommend them to everybody who requires secure financial assistance speedily!!

Price
10/10
Features
10/10
Customer service
10/10
Convenience
5/10
Trust
10/10
Less
Christopher, New South Wales, reviewed 12 days ago
Plenti Used Car Loan (Fixed)
Overall 1/10
AVOID

I wound up thru a broker with Plenti. Big mistake. They tell you there's no early exit fee. Trouble is, you pay admin fees for the life of the loan, which are significant. Early exit fee by proxy, and stealth. Don't go near them. Rate setter was a great co. Once a co lists, it's ALL about greedy boards, and delivery. This co has lost its way from its original mindset. AVOID!

Read full review

I wound up thru a broker with Plenti. Big mistake. They tell you there's no early exit fee. Trouble is, you pay admin fees for the life of the loan, which are significant. Early exit fee by proxy, and stealth. Don't go near them. Rate setter was a great co. Once a co lists, it's ALL about greedy boards, and delivery. This co has lost its way from its original mindset. AVOID!

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Adrian, Victoria, reviewed 21 days ago

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