Best 19 Instant Personal Loans Australia (February 2024)

It’s still the beginning of 2024, the ideal time to think over your money, budget and make plans for new projects for the rest of the year, making it necessary to at some point seek for personal loans Australia. There are numerous reasons to want to take out a personal loan in Australia, and there are just as many options when it comes to choosing a loan and lender, especially now that foreign travel is once again accessible and remodeling prices are rising. Because of this, it’s crucial to know you’re obtaining the finest possible personal loan deal.

There won’t be a single greatest personal loan for every borrower among the over 70 lenders available, but there are undoubtedly some essential characteristics that all outstanding personal loans share such as low loan rates, small fees, and the ability to make additional installments are some of these.

These days, a lot of personal loan providers use risk-based pricing, which means that your loan’s interest rate will be determined by your credit history.

Best Personal Loans Australia 2024

The best personal loans Australia in 2024 including reputable financial institutions are Well Fargo Loans, Now Finance, Loans.com.au, Heritage Bank, Greater Bank, Cashify, Latitude, Citi Bank, NAB, MoneyMe, MoneySmart and Bank Australia.

1. Well Fargo loans

You can get a personal loan from Well Fargo from $3,000 to $100,000 at a flexible terms from 12 to 84 months. for rates as low as 5.74% APR which can be used to consolidate debts, pay for home improvements, or make a major purchase.

The Annual Percentage Rate (APR) shown is for a personal loan of at least $10,000, with a 3-year term and includes a relationship discount of 0.25%.1,3 Your actual APR may be higher than the rate shown.

2. OurMoneyMarket (OMM)

The vehicle loan from OurMoneyMarket can assist with covering the $2,001 to $75,000 cost of your used car. It offers personal loans Australia of 1 to 7 years and fixed interest rates that start at a low 56.25% p.a. (6.87% p.a. comparison rate*). No of your credit score, you will be able to take advantage of that low rate during the first year of the loan.

3. Loans.com.au

We’re impressed by loans.com.au’ affordable rates and simple green vehicle loan. This loan rewards borrowers with excellent credit with low fixed rates starting at 4.89% p.a. (5.44% p.a. comparison rate*). Additionally, loans.com.au provides homeowners with special lower rates starting at just 4.14% p.a. (4.68% p.a. comparison rate*) (conditions apply).

With personal loans Australia durations of three to five years, you can borrow between $5,000 and $100,000. There is a $700 early payback fee, but you can choose to make extra payments whenever you wish as well as weekly, fortnightly, and monthly repayments.

4. Heritage Bank

Depending on your credit score and financial situation, you have the option to choose between a fixed interest rate starting at 8.49% p.a. (9.12% p.a. comparison rate*) and a variable interest rate starting at 11.99% p.a. (12.61% p.a. comparison rate*). You can get personal loans Australia up to $25,000 in loans between $5000 and 7 years are available.

5. Cashify

Need cash in a hurry or have an unexpected expense? Whatever you need it for, Cashify is here to help with $2,000–$5,000 Personal Loans Australia transferred instantly into your account!

6. WISR

According to Wisr, the straightforward personal loans Australia online application makes it possible to receive a response within minutes and funds within 48 hours of approval. For borrowers with excellent credit, interest rates start at 7.45% p.a. (8.28% p.a. comparison rate*).

Loan durations range from three to five years, with a $64,000 maximum borrowing amount. There is an establishment cost of $595, but for qualified borrowers who borrow between $30,001 and $64,000, this fee may be eliminated.

7. Harmony

Unsecured personal loans Australia from Harmoney aren’t like other loans because they are funded by peers, or investors, who make investments through the provider’s online marketplace rather than the provider itself. Depending on your credit history, fixed rates can range from only 5.35% p.a. (6.14% comparison rate*) to 19.09% p.a. (19.99% comparison rate*).

With terms of 3, 5, or 7, Harmoney offers loans ranging from $2,000 to $70,000. There are no admin costs and you can pay weekly, fortnightly, or monthly. There is no redraw facility available with the loan, though you are free to make additional payments.

8. Handypay

You can apply for personal loans Australia from Handypay, a specialized provider of home improvement plans, for a variety of green home initiatives like solar panels, batteries, rainwater tanks, or energy-efficient renovations. Loans are available to borrowers with excellent credit.

Based on loan amount and term length, rates begin at an introductory rate of 6.99% p.a. (7.62% comparison*). Although the loan does not have any ongoing or monthly account fees and extra repayments are permitted, it’s important to note that there is no redraw facility. There is a $250 application fee.

9. Latitude

Latitude personal loans Australia are made specifically for you and you alone to get you where you need to go. Check the rates on the link below and submit an application for a loan, whether you need money for a remodeling, vacation, or debt consolidation.

To provide you with a personalized interest rate and repayment amount, they will ask you a few short questions about your situation and credit history. For seven years, you may borrow up to $30,000

10. Citi Bank

You can apply for Citi Bank personal loans Australia with fixed monthly repayments for the first loan and no monthly fee, monthly budgeting is made simple. You may relax knowing that your initial loan will be completely repaid after the 3, 4, or 5 year term. From $5,000 – $75,000. With this platform, you can make additional payments or, with no penalty, pay off your loan early. Simply select a loan duration of 3, 4, or 5 years.

11. NAB

There are no fees associated with early loan payback for NAB personal loans Australia. Your money will be available in one business day if you are authorized and accept their loan offer through NAB Internet Banking. 6.99% each year to 18.99% per year

View Disclaimer (7.91% p.a. to 19.83% p.a. comparative rate) View . For a number of different loan objectives, you may borrow between $5,000 and $55,000.

12. MoneyMe

With quick personal loans Australia provided to you by MoneyMe, you won’t have to miss out on that limited-time discount or those premiere movie tickets. Instead, you can apply for their same day cash loans for easy money you cannot get anywhere else.

At MoneyMe, they understand that life isn’t always a walk in the park. Sometimes you need to borrow cash now but have no means to get any. They offer loans up to $15,000.

13. MoneySmart

With a fixed interest rate personal loans Australia From MoneySmart, your repayments are fixed and won’t change over the loan term. You’ll know exactly how much will come out of your bank account each month.

With a variable interest rate, your repayments will change if interest rates change. If interest rates rise, your repayments will be higher. If interest rates fall, your repayments will go down. You can get loans of up to $20,000

14. Salt And Lime

At Salt & Lime, they are dedicated to helping Australians to consolidate their debt by offering personal loans up to $30,000 into one manageable repayment. They understand how easy it is to spiral into a situation of financial stress, and offer a full service that will bring your debts under control and enable you to learn how to keep that control in the future.

15. Savvy

Whether you’re looking to cover unexpected medical bills, fund an expansion of your home or even help pay for your next family getaway, you can find the best personal loans Australia for your needs right with Savvy.

They ade partnered with reputable lenders from around the country offering some of the most competitive rates on the market, so you can pick out the top deal for you right with savvy. Start your personal loan journey today with up to $20,000 loan available for 5 years validity

16. Canstar

If you’re looking to borrow money to pay for a big expense or personal loans Australia, you can compare a wide range of personal loans, using Canstar comparison tool, to help you choose the right one for you. It’s simple and quick, and you can use their filters to find the type of loan you’re looking for. Loans of up to $20,000 for 5 years are available

17. BOQ

Whether you’re looking to pay for your next car, wedding, holiday, consolidate your debts or you need some extra funds, BOQ low rate personal loans Australia can help make your dreams a reality. Their low, fixed rate personal loan gives you the certainty of knowing what your repayments will be for the life of your loan.

Repay your loan sooner by making additional repayments without penalty.  No break costs or early repayment costs if you repay your loan early. Borrow a minimum of $3,000 and get started on reaching your goals now.

18. Bank Australia

Bank Australia customers can now apply for personal loans and credit through their internet banking. To apply, log in to internet banking, click the ‘apply’ tab and choose the product you’re looking for. Their representative will be in touch to organise your application.

Due to high demand for personal loans Australia, they’re unable to take your application by phone right now. If you need help, call there lending team on 132 888 and follow the prompts. You can get a loan of to $50,000

Can International Students Get Loans In Australia?

Universities across Australia provide loans for local and international students. Most institutions offer both short-term and long-term loans; these can help students cover emergencies, as well as pay for bigger expenses.

How To Get Personal Loan Australia?

• Be at least 18 years old.
• Hold Australian or New Zealand citizenship, or Australian permanent residency, or an eligible visa (call us on 13 1431 to find out more)
• Live in Australia.
• Meet minimum income requirements.
• Be employed or receive regular income.
• Have a good credit rating.

What Is The Lowest Personal Loan Interest Rate In Australia?

OurMoneyMarket. OMM. Offers Simple Low Rate Personal Loans. No Early Repayment or Exit Fees. Quick & Easy Loans From $2,001 to $75,000. Get A Free No Obligation Quote Today! Flexible Repayments. No Prepayment Fee. Fast Approval. No Early Payout Fees. Low Rate Loans.

Conclusion

Personal loan lenders in Australia generally cap the maximum borrowing limit at $50,000-$60,000. However, the purpose of the personal loan and whether its secured or unsecured may determine whether you can request more funds.

For quick and easy loans Australia wide, MoneyMe is the number one choice. Simply apply online in just a few minutes, and you may receive between $5,000 and $50,000 in your bank account, in under an hour. No paperwork. No hassle.