Personal Loans Up To $100,000

Get approved for large personal loan sums of up to $100,000 by comparing offers that suit your needs here with Savvy.

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, updated on July 4th, 2024       

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The features and benefits of personal loans up to $100,000

Highly competitive rates

With secured personal finance, you can enjoy a loan starting from the lowest rate available on the market for your profile and lock in savings across your repayments.

Repay over up to seven years

You get to decide the length over which you repay your large loan sum, with terms available up to seven years to help ensure that each of your repayments are manageable.

Flexible security options

Lenders afford borrowers the freedom to choose what to utilise as security for their personal loan, with vehicles such as cars, motorbikes or even boats eligible.

No impact on your credit score

Applying for a quote with your lender to find out your indicative interest rate won’t affect your credit file or score, with this only coming after you agree to proceed with the loan.

Free early repayments

You don’t have to stick to your repayment cycle as part of your personal loan agreement: make additional contributions and pay off your loan as quickly as you like to save money.

No unexpected fees or charges

Not only can you access finance options without any of their primary fees charged, but any and all potential charges will be outlined prior to signing up for your loan.

Fast and easy application process

Once you’ve completed your comparison with Savvy and basic online loan application, you can have funds directly transferred into your account in as little as 24 hours.

Available to self-employed workers

You don’t have to be a full or part-time worker to qualify for a secured personal loan, with sole traders able to apply for the same finance deals armed with their two most recent tax returns.

Types of personal loan

Why compare personal loans through Savvy?

How to maximise your personal loan borrowing power

How to apply for a $100,000 personal loan

Our Process

Compare personal loans with Savvy

Before you start your application, you should compare as many options as you can so you can be confident the one you’re applying for is best for you.

Submit your application and receive an outcome

Once you’ve done this, you can gather all your required documentation and fill out their online application form. You can receive an outcome soon after.

Sign your contract and have your funds transferred

If you’re approved, you’ll have a loan contract sent to you to sign and return, after which your funds can be advanced directly into your nominated account.

Questions about $100k personal loans in Australia answered

Do I need to provide more documentation when applying for a large personal loan?

Yes – specifically, this is because you’ll need to provide documentation surrounding the asset you’ve chosen to use as collateral for your loan. For instance, if you’re using your $50,000 car as collateral for you loan, your lender will need to find out more about the age and condition of the vehicle before proceeding with the approval, as they have to ensure you’re not using an unsuitable asset as collateral. The documents that are requested will differ slightly depending on your lender.

How much can I borrow with an unsecured personal loan in Australia?

Unsecured personal loans are offered for amounts up to $75,000, with smaller loans available for as little as $2,000, offering a more restricted borrowing range compared to secured loans.

However, they remain more accessible to a wider variety of borrowers, as not everyone will have an asset deemed suitable to serve as security for a personal loan. They’re also generally faster to process, as there’s no requirement to assess the collateral provided.

Should I apply with a guarantor?

While guarantor personal loans aren’t very common, some lenders may be willing to approve you under this arrangement. A guarantor can be highly beneficial and help you maximise the likelihood of being approved for a large personal loan at a low interest rate, as they act as a further safety blanket for the agreement if you become unable to pay off your debt. Therefore, if you’re in a position to do so and find a lender who can approve your application, applying with a guarantor could be a good move for you.

Can I get pre-approved so I can start shopping around?

Yes – many lenders offer pre-approval on their loans so you can start shopping around for quotes. Pre-approval is highly beneficial, as it gives you a clearer idea of what you might be able to borrow before you’ve been approved, giving you the ability to use it as a way to negotiate the cost of the product or service you’re looking to buy (if you’re in a position to do so).

How do I work out monthly payments on my personal loan?

You can use Savvy’s personal loan repayment calculator to determine how much your large loan sum will set you back both on a monthly basis and overall. This can be useful to work out what sort of loan term and interest rate you might look for on your finance deal.

More about $100,000 personal loans

How should I compare different loan offers?

There are many ways you can go about comparing loan offers from lenders around Australia, so it’s important to be across these before applying for your finance deal. Fortunately, Savvy takes the guesswork out of comparing personal loans by laying out all the key information you need to make an educated decision on the best offer for your needs. Doing so is paramount, as comparing could be the difference between paying thousands of dollars more and saving that money. The key areas to consider when choosing the right personal loan for you are:

Loan type

First of all, you’ll need to guarantee that the lender you’re applying to actually offers the type of loan you need. Because $100,000 as an amount is only obtainable via a secured personal loan, you’ll have to compare lenders who list this as a product they offer. Secured finance isn’t as common as unsecured finance, so you won’t have as great a selection of lenders to choose from as you would if you were to apply for this type of loan. However, what this does do is make your decision easier.

Borrowing range

Next, you’ll have to determine whether you can borrow the amount you need. Even between lenders offering secured financing, not all will extend your potential borrowing power as high as $100,000. This may be capped at $70,000 to $80,000 in some cases, meaning you won’t be able to access $100,000 even if you’re earning comfortably enough to do so. Fortunately, comparing loans on this basis is usually very simple, as lenders will typically display the potential borrowing ranges prominently on their loan pages.

Term length

Being comfortable when it comes to repaying your debt is crucial and could go a long way towards securing swift approval on your loan application. As such, you should always look to lenders who offer your ideal term length so you can take as long as you need to pay off your debt. Not all financiers will offer seven-year loan terms, which is the term most borrowers would need to repay $100,000, so you should always look for those who can accommodate your needs in this respect.

Interest rate

When it comes to large loans like those of $100,000, interest becomes even more important to get right. Because it’s calculated based on the outstanding principal daily, you’re likely to pay a significant amount throughout your loan, regardless of how long your term is. With such large amounts, even small differences between rates can make a significant difference to the overall cost of your loan. For instance, a $100,000 loan repaid over seven years at 7.5% p.a. would cost an additional $28,842 in interest alone. However, opting for a loan with a rate of 6.5% p.a. instead would only cost $24,735, representing a saving of almost $4,000.


Additional charges are also worth considering when it comes to choosing your loan. Although these aren’t based on your principal, they can still add over $1,000 to the cost of your agreement, which is still money well worth saving. These primarily come in the form of establishment and ongoing costs. Establishment fees are charged at the start of your loan and can cost up to $595, while ongoing fees can set you back up to $10 each month. Across a seven-year term, a $10 monthly fee would total $840. However, many lenders charge only one or neither of these fees on their loans, so you should compare to find those who can help you save.

Repayment flexibility

When it comes to a loan as large as this, you should afford yourself the ability to pay more than the required amount without being charged any fees for doing so. This is because making additional payments can save you a substantial amount of money over the life of your loan. For example, as mentioned, a $100,000 loan over seven years at 6.5% p.a. would set you back $24,375. However, if you were to pay an additional $100 each month, you’d save over $2,000 and shorten your required term by six months. 

Any other useful features

On top of this, you might wish to gain access to further features to add flexibility to your repayments. One of these is a redraw facility, which can be useful for borrowers who plan on making additional repayments throughout their term. This enables you to withdraw any additional funds paid, should you need to, and use them for anything you need, saving on the hassle of applying for further financing. On top of this, you should be able to choose your preferred repayment schedule of either weekly, fortnightly or monthly to align with what suits your needs most.

How can I use a $100,000 personal loan?

The beauty of personal loans is that they’re able to be used for just about any purpose you may need, which sets them apart from other types of finance in which the funds can only be used for specific purposes. For example, a car loan must be used for the express purpose of purchasing a vehicle (as well as covering associated expenses), while business loans, although highly versatile, must be dedicated solely to your business’ expenses.

Some of the common reasons people look to take out large personal loans are:

  • To consolidate outstanding debts from a variety of sources, such as high interest credit card debts, other personal loans and other household bills which are yet to be paid
  • To cover the cost of renovating your home, such as adding an extension to your property or partially cover the cost of knocking down or rebuilding your home
  • To pay for your dream wedding and any other associated costs around it, such as a dress, engagement ring, venue hire, catering and more
  • To purchase an expensive vehicle such as a car, although you’re generally better off going for a formal car loan to help you save on interest

What documents will I need to supply as part of my loan application?

The specifics of the application process will vary depending on who you apply with, as the eligibility requirements will differ between lenders. However, for the most part, each financier will follow the same broad strokes when it comes to the documents they’ll need. When applying for a $100,000 personal loan, you’ll need to provide evidence of at least some of the following:

  • Photo ID such as your passport or driver’s licence
  • Two months’ worth of payslips
  • 90 days’ worth of bank statements
  • Two years’ worth of tax returns (if you’re self-employed)
  • Your internet banking details
  • Proof of employment (contract)
  • Information on the asset to be used as security
  • Details on any other assets you may own
  • Details on other outstanding liabilities, such as other loan debts

Helpful personal loan guides

Still looking for the right personal loan?

Personal loans come in all shapes and sizes, so read more about the ways you can use them, as well as how they might work for you.