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.
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.
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.
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.
Fixed, Unsecured
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.
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.
Read our Mozo Review to learn more about the NAB Personal Loan
Fixed, Unsecured
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.
Heritage Bank discounted rates for loans starting from $5,000 to $25,000 and a choice of loan terms up to five years.
Read our Mozo Review to learn more about the Heritage Bank Standard Personal Loan
Variable, Unsecured
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%.
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%.
Read our Mozo Review to learn more about the NAB Personal Loan
^See information about the Mozo Experts Choice Personal loans Awards
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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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 reviewThe 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.
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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 reviewI 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!
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