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Secured Personal Loan
- Security required
- Yes, an eligible asset
- Typical terms
- 1 to 7 years
- Balloon available
- No
- Best suited to
- Borrowers with an asset to offer
- Turnaround
- Possible same day
Personal loans, compared before you borrow
A personal loan is a fixed amount you repay over an agreed term, for things like travel, a wedding, renovations or consolidating debt. It can be secured against a car, caravan or boat for a lower rate, or unsecured. Employed and self-employed borrowers are both welcome.
Whether you're consolidating debt, funding a renovation or financing a major life event, we compare personal loans across our lender panel to find the right rate for your situation.
Unsecured personal loans from 5.95% p.a. Comparison rate 5.95% p.a.*
Multiple personal loan purposes. Same day pre-approval possible.
Why compare personal loan lenders
Broker vs bank,
a real comparison
FeatureYour bank
Choice of lenderTheir own products only
Loan typesStandard personal loans
Pre-approval speedOften several business days
Purpose flexibilityOften restricted by product
Who they work forThe bank
FeatureThrough a broker
Choice of lenderMultiple lenders, compared for you
Loan typesSecured, unsecured, consolidation
Pre-approval speedPossible same day
Purpose flexibilityMultiple purposes
Who they work forYou
One application, many lenders
We compare across the market with a single application, saving your credit file from multiple enquiries.
Secured vs unsecured comparison
Using an asset as security typically improves your rate. We compare both and present the difference clearly.
Purpose-matched lenders
Some lenders are better for debt consolidation, others for home improvement. We match the lender to your purpose.
Transparent cost comparison
When we present your options, we walk through the comparison rate and total cost, not just the headline rate.
The process
How personal loans work
Tell us about your loan need
Share the purpose, amount and any assets you could use as security.
We compare the market
We search the market for rates and structures suited to your profile.
Review your options
We present matches with rates and terms explained simply.
Apply and receive funds
Once you choose, we manage the application and funds are disbursed.
Some of the lenders on our panel
Compare personal loan types side by side
The common structures for personal borrowing, and where each fits.
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Unsecured Personal Loan
- Security required
- No
- Typical terms
- 1 to 7 years
- Balloon available
- No
- Best suited to
- Fast, simple borrowing
- Turnaround
- Same day possible
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Debt Consolidation
- Security required
- Usually no
- Typical terms
- 1 to 7 years
- Balloon available
- No
- Best suited to
- Rolling multiple debts into one
- Turnaround
- Same day possible
Loans for the plans in front of you
Step 1 of 5
Understand the basics of personal loans
A personal loan is a fixed-term loan for personal purposes such as travel, weddings, renovations, medical costs or consolidating existing debts. Terms usually run one to seven years with fixed repayments that make budgeting simple.
Personal loans come secured and unsecured. Secured versions borrow against an asset you own, such as a car, and generally cost less. Unsecured versions rely on your income and credit profile alone.
Personal lending in Australia is regulated consumer credit, which means responsible lending assessment applies. Lenders must verify that the repayments fit your income and expenses.
When a personal loan makes sense
Against credit cards, a personal loan has a defined end date and a fixed repayment, so the debt finishes instead of rolling on.
For consolidation, one repayment in place of several high-interest balances can reduce both the cost and the stress, provided the spending that created them changes too.
For planned life events, borrowing a defined amount over a defined term keeps a wedding, trip or renovation from lingering on a card for years afterwards.
How to choose the right personal loan
Decide secured versus unsecured first. If you have an asset to offer and want the lower cost, secured is worth exploring. If not, unsecured keeps things simple.
Keep the term as short as the repayment comfortably allows. Stretching a holiday loan to seven years means paying for the trip long after the tan fades.
For consolidation, compare the total you would repay on the new loan against what the old debts would cost if you left them running, and close the old facilities once they are cleared.
A quick and easy application process
One enquiry compares personal lenders across our lender panel, matched to your credit profile and purpose. Your broker manages the application and documentation through to funding.
Have your licence, recent payslips or income evidence, and a summary of your existing commitments ready. Many pre-approvals land the same day.
Tips for comparing personal loans
Check your credit report before applying, because your file affects the pricing you are offered.
Borrow the number the plan needs, not the number you are approved for.
Avoid multiple direct applications as each adds a credit enquiry. One broker enquiry across the panel protects your file while still comparing the market.
Personal finance at a glance
- Fixed terms of 1 to 7 years with predictable repayments
- Secured personal loans generally cost less than unsecured
- Consolidation works when the new total cost is lower than the old one
- Responsible lending rules require repayments to fit your budget
- One enquiry compares the panel without a credit check for every lender
Personal loan repayment calculator
Estimate your repayments. Adjust the sliders to match your situation.
Loan amount
$10,000$100,000
Interest rate (% p.a.)
6%28%
Loan term
1 yr7 yrs
Monthly repayment
$456
per month
Weekly
$105
Total repayment
$16,428
Estimates only. Your actual rate depends on your profile and lender. Get a real comparison.
Get my quoteAbout the starting rate
6.00% p.a. is a starting point for estimating repayments only. It is not a quote, not an offer of finance, and not a rate available to every applicant. Your actual rate depends on the lender, the asset, the loan term, the loan amount and your circumstances. Adjust to model scenarios.
Travel, weddings, renovations and more
Same amount.
Not the same loan.
Personal lending varies by purpose, by security and by lender appetite. Your broker compares the market against the reason you are borrowing, not just the amount.
Personal finance guides
Written by a licensed broker for Australian borrowers.
5 guidesPersonal financeTravel, weddings, home improvements and debt consolidation.Explore personal finance
Travel Loans: What to Know Before You BorrowHow travel loans work, when borrowing for a trip is reasonable and how to structure holiday finance so the repayments end soon after the trip does.Wedding Loans: Financing the Day Without the StressHow wedding loans work in Australia, how to decide what to borrow responsibly and how to structure finance so the celebration does not follow you for years.Fixed vs Variable Personal Loans ExplainedWhat fixed and variable personal loans actually mean for your repayments, flexibility and planning, and which suits the way you intend to repay.
Debt Consolidation Loans: How They Work and When They HelpHow debt consolidation loans work, when rolling debts into one actually improves your position, and the situations where consolidation makes things worse.See all 5 personal finance guidesWho we help
Who we help with personal loans
Debt Consolidators
Combining multiple debts into a single loan to simplify repayments and potentially reduce interest.
Home Improvers
Funding renovations, extensions or upgrades without touching mortgage equity.
Travel Planners
Financing a significant trip or travel experience with a fixed repayment plan.
Life Event Borrowers
Funding weddings, events and other major personal milestones.
Medical Borrowers
Financing elective procedures and health-related expenses.
Australian citizen or permanent resident
Aged 18 or older
Stable income (PAYG or self-employed)
Acceptable credit history
Ability to service the loan repayments
Personal loan questions
Personal loans can be used for a wide range of purposes including debt consolidation, home improvement, travel, medical expenses, weddings and other major expenses. Lenders may have restrictions on certain purposes, which we advise on.
A secured loan uses an asset as collateral, typically resulting in a lower rate. An unsecured loan is approved on your income and credit profile with no asset at risk, but typically at a higher rate.
We arrange personal loans from $10,000 to $100,000, and limits vary by lender. The amount you qualify for depends on your income, expenses and credit history. We advise on realistic amounts before you apply.
Not necessarily. We assess your profile first, which does not touch your credit file. From there we submit to the lenders best suited to your situation. Some lenders won't even record an enquiry on your credit file unless the application goes all the way through to approval.
In most cases, pre-approval can be achieved the same day. Final approval and funds disbursement timing varies by lender.
Many personal loans allow early repayment but some charge break fees. We advise on the early repayment terms of any loan we recommend.
Generally, you need to be 18 or older, an Australian citizen, permanent resident or eligible visa holder, with regular income and repayments that fit comfortably within your budget. Your broker checks your eligibility before any application is lodged.
Often, yes. Specialist lenders consider past defaults and credit events on their merits. The key is applying to the right lender first rather than collecting declines at lenders whose policy was never going to fit.
Unsecured personal loans need neither a deposit nor an asset. Secured personal loans borrow against an asset you own, such as a car, and generally cost less in exchange.
Yes. Lenders assess self-employed applicants using tax returns, notices of assessment or bank statements depending on the lender. We match your documentation to lenders who accept it.
We call you within one business day, generally within the hour, to talk through your options in plain English, with no obligation. Pre-approval is possible the same day for many straightforward applications, though timing depends on the lender and your situation.