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 - page last updated February 23, 2020

interest rate
comparison rate*
monthly repayment**

I want to borrow

years

  • 8.99% p.a.

    9.13% p.a.based on $30,000
    over 5 years

    Terms from 2 to 5 years. Representative example: a 5 year $30,000 loan at 8.99% would cost $37,456.30 including fees.

      Compare
    Details
  • 12.69% p.a.to 18.69% p.a.

    13.56% p.a.to 19.53% 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 $41,420.45 including fees.

      Compare
    Details
  • 8.49% p.a.

    9.60% p.a.based on $30,000
    over 5 years

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 8.49% would cost $37,836.08 including fees.

      Compare
    Details
  • 12.69% p.a.to 18.69% p.a.

    13.56% p.a.to 19.53% 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 $41,420.45 including fees.

      Compare
    Details
  • 15.99% p.a.

    16.84% p.a.based on $30,000
    over 5 years

    Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 15.99% would cost $44,512.94 including fees.

      Compare
    Details
  • 11.49% p.a.to 17.40% p.a.

    12.57% p.a.to 18.44% p.a.based on $30,000
    over 5 years

    Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 11.49% would cost $40,492.66 including fees.

      Compare
    Details

Want more personal loan options?

Browse all 223 personal loans in Mozo's comparison database

Your selected personal loans

*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. WARNING: 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.

**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.

^See information about the Mozo Experts Choice Personal Loans Awards

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