Personal loan rates updated weekly. Last check: Monday.
Book a 15-minute call
The uses
Six reasons people come to us.
The lender panel shifts by purpose. Debt consolidation lenders aren\'t always the best for medical; travel lenders aren\'t always the best for renovations. We fit the use to the lender.
Debt consolidation
Combine credit cards, store cards, and other debts into one loan at a lower rate. Saves interest, simplifies repayments, and gives you a fixed payoff date. We model whether it actually saves money for your specific debts.
Home improvement
Renovations, extensions, solar, pool. When you don't have or don't want to use home equity. Unsecured rates are higher than redraw but faster and less paperwork.
Major purchase
Wedding, engagement ring, furniture, major family milestones. Lower rate than credit cards, fixed repayment, clear end date.
Medical and dental
Elective procedures, dental work, fertility treatment. Private health often doesn't cover the whole bill. Specialist lenders understand medical timelines.
Travel and experiences
Bucket list trips, family overseas visits, honeymoons. Not the cheapest way to fund travel but beats an ongoing credit card balance.
Car, bike, or boat deposit
Where a secured car loan won't cover the full purchase or you don't want to secure it. Common for older vehicles, motorbikes, jet skis, or caravans.
Deep dive
Debt consolidation, honestly.
Consolidation works when two things are true. Your new rate is lower than the weighted average of your current debts, and you won\'t rebuild the cleared card balances within six months. If both are true, you save meaningful money. If either isn\'t, you don\'t.
Average rate on consolidation loans across our panel for qualified applicants.
Average rate across major Australian credit cards as of this month.
Typical interest saved over the loan life when consolidation genuinely fits. We model your specific case before recommending.
How it plays out
Four situations we see every week.
The debt stacker
Three credit cards totalling $22K at 20-24%, one BNPL balance, one store card. Combined minimum payments $750/month.
Consolidation loan via Plenti or Wisr at around 11%. Single $575/month payment, debt gone in 4 years instead of 14, saves approximately $14K in interest. We check your credit file first because recent late payments matter.
The renovator
Kitchen renovation quoted at $45K. Owns home but doesn't want to refinance or tap equity. Dual income $180K.
Unsecured personal loan via SocietyOne or Harmoney at around 9-11% for 5-7 years. Faster and simpler than a home loan top-up. Roughly $1,050/month over 5 years. We check that against a redraw top-up to confirm which is better value.
The medical need
IVF cycle not fully covered by insurance. $18K needed within three weeks.
Medical-friendly lender like Now Finance or MoneyMe. Same-week approval and settlement. Around 12-14% given the short timeline. We're upfront that specialist lenders price higher; the tradeoff is speed.
The car deposit top-up
Buying a $52K used car; secured car loan only covers $45K because of vehicle age. Needs $7K unsecured top-up.
Small personal loan via Plenti at around 10%. Combined with the secured car loan through one broker so the settlements align. $200/month over 3 years.
Our panel
Twenty-four personal lenders.
Fintechs for speed, neobanks for rate, majors for size, specialists for edge cases. We match your profile to the sub-panel that suits.
Panel varies by product and accreditation. Rates and terms subject to lender criteria and your specific profile.
How it works
Four steps. No footprint damage.
Quick purpose call
Twenty minutes. What's the money for, what are you earning, what debts do you have, what's your credit situation. We flag anything that needs addressing before applying.
Rate-check against the panel
Your profile runs against twenty-four lenders. Each has their own scoring, rate band, and appetite. We tell you honestly which tier you fall in before submitting.
One application, not five
We submit to the right lender first. No shotgun applications that damage your credit file. Most decisions within 24-48 hours.
Funded directly
For debt consolidation, funds usually go straight to your existing creditors on settlement day. For other purposes, funds land in your bank account.
Questions we get asked
Honest answers.
Will applying damage my credit score?
Only if we submit applications. Our rate-check is a soft enquiry with most lenders and doesn't show on your file. We only lodge a hard enquiry with the one lender we're recommending, so your file shows one enquiry, not five.
What rates can I actually get?
Personal loan rates range roughly 6.5% to 22% depending on your credit profile, the loan amount, and the purpose. Excellent credit and stable income: 6.5-10%. Good credit: 10-15%. Thin file or recent issues: 15-22%. We tell you your realistic range upfront; no surprises.
Is debt consolidation always a good idea?
No. Consolidation saves money when your new rate is meaningfully lower than the weighted average of your current debts, and when you don't then rack up the cleared cards again. We run both checks before recommending it. If it doesn't save money we tell you.
Secured or unsecured?
Most personal loans are unsecured. Secured (against a car, caravan, or term deposit) gets you 1-2% off the rate but adds complexity and risk if you default. Generally unsecured wins for sub-$50K loans unless the rate saving is significant.
What if I've been declined elsewhere?
Worth a conversation. Each lender scores differently; a decline at one doesn't mean all will. We know which lenders are comfortable with recent defaults, self-employed income, or unusual employment. But we'll be honest if nothing on the panel is likely to approve.
Can I pay it off early?
All lenders on our panel allow early payout with no break fees (this is a consumer protection under the NCCP Act for unsecured loans). You pay only the interest accrued to the payout date. Flexibility is one of the advantages of personal loans over BNPL or credit cards.
Want to know your rate?
Soft credit check only. We tell you the rate band you fall into across our panel, and whether a personal loan actually makes sense for your situation. Honest answer in 15 minutes.