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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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 February 27, 2021

Search promoted personal loans below or do a full Mozo database search. Advertiser disclosure.
  • Personal Loan

    Fixed, Unsecured

    interest rate
    comparison rate
    Monthly repayment
    12.69% p.a.to 18.99% p.a.
    13.34% p.a.to 19.59% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 12.69% would cost $41,270.45 including fees.

    Get same day approval on flexible personal loans from $5,000 to $55,000 on 1-7 year loan terms with NAB. Enjoy no fees for extra early repayments and get funds in your account fast. To be eligible you must be over 18 and be an Australian resident.

    Compare
    Details
  • Personal Loan

    Variable, Unsecured

    interest rate
    comparison rate
    Monthly repayment
    12.69% p.a.to 18.99% p.a.
    13.34% p.a.to 19.59% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 12.69% would cost $41,270.45 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
    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.

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Personal Loan Reviews

ANZ Unsecured Personal Loan review
Overall 8/10
Fast application, trustworthy as a bank can be.

Excellent customer service in all areas. Highly skilled phone staff. Incredibly fast personal loan approval ($48000 towards my new preowned vehicle) for existing customer with a recent homeloan approval. Personal loan interest rates are seriously shabby and can be beaten elsewhere but if you get the (higher) variable option, you can pay it down hell for leather; they are quite flexible with their lending products. And their customer service is exemplary in my opinion. Just choose your products wisely and don't hock yourself to the eyeballs. Very convenient for existing customers. Good for female borrowers, whether working, retired, pensioners etc.

Read full review

Excellent customer service in all areas. Highly skilled phone staff. Incredibly fast personal loan approval ($48000 towards my new preowned vehicle) for existing customer with a recent homeloan approval. Personal loan interest rates are seriously shabby and can be beaten elsewhere but if you get the (higher) variable option, you can pay it down hell for leather; they are quite flexible with their lending products. And their customer service is exemplary in my opinion. Just choose your products wisely and don't hock yourself to the eyeballs. Very convenient for existing customers. Good for female borrowers, whether working, retired, pensioners etc.

Price
5/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Isabella, Victoria, reviewed 15 days ago
Plenti New Car Loan (Fixed) review
Overall 1/10
Hidden Fees & Brokerage - Lies & Deceitful

Its a bad joke, hidden fees / deceptive interest rates & sneaky brokerage. A network of lies.

Read full review

Its a bad joke, hidden fees / deceptive interest rates & sneaky brokerage. A network of lies.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
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Derek, Queensland, reviewed 17 days ago
CUA Personal Loan review
Overall 1/10
Terrible to deal with

Terrible company to deal with, terrible customer service, not very flexible most certainly not helpful at all. Would not deal with them at all for anything ever again.

Read full review

Terrible company to deal with, terrible customer service, not very flexible most certainly not helpful at all. Would not deal with them at all for anything ever again.

Price
1/10
Features
4/10
Customer service
1/10
Convenience
3/10
Trust
1/10
Less
L, Victoria, reviewed 17 days ago

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