Home > Personal Loans > $15,000 Personal Loans
$15,000 Personal Loans
Compare a range of low-rate personal loan offers from a diverse panel of lenders right here with Savvy.
Author
Savvy Editorial TeamFact checked

The features of $15,000 personal loans
Access competitive interest rates
You can compare a wide range of competitive low-interest loans tailored to your specific borrowing profile.
1 - 7 year flexible long terms
Shape the cost of your repayments by deciding on the term over which you’ll repay your loan, from as little as one year all the way up to seven.
Pay monthly, fortnightly or weekly
On top of this, you’ll get to choose the frequency of the contributions you make, which can be done to fit around your own pay cycle to make your loan more comfortable.
Consolidate debts
Personal loans can be used for just about anything you like but taking one out to cover your outstanding debts and repay them at your pace can help you save money.
No security required
Personal loans are unsecured, meaning that you won’t have to put up any valuable assets to serve as collateral for the loan.
Your credit score is safe
Getting a quote from our lenders won't affect your credit score.
Types of personal loan
With an unsecured personal loan, you can potentially borrow as much as $75,000 without the need to attach any valuable assets, such as your car, as security. These loans are the most widely available and often the quickest, with same-day approval possible.
Secured personal loans, on the other hand, make use of collateral. This lowers your risk profile in the eyes of a lender, potentially lowering your interest rate and expanding your borrowing power beyond what you may be able to get through an unsecured loan.
Variable interest rates remain open to fluctuation during your term. This means you can benefit from decreasing rates and save on your loan if the market heads in that direction, although you’ll also pay more if rates start rising.
Fixed interest rates are locked at the beginning of your loan and remain constant throughout your repayments. This acts as a valuable protection against interest rate increases, as your loan will be unaffected, but you’ll miss out on potential drops as well.
If you’re paying off multiple debts at the moment, particularly those with high interest (such as credit card debts), consolidating them into one payment can not only make them more convenient to manage but also potentially save you money overall.
Looking to take off on a holiday with your family but want to pay it off at your own speed? Travelling can be expensive, so you can distribute the cost of your next trip over a period you’re more comfortable with by taking out a personal loan to pay for it.
There are so many costs that go into making your dream wedding a reality, from venue hire to catering to dresses and suits and so much more. By taking out a personal loan, you can start planning the big day you want, even if you can’t pay for it upfront.
Home improvements are desirable for a range of homeowners to help keep their living space fresh and interesting, not to mention increase its value. You can get past the financial hit of renovations with a personal loan paid in instalments.
Personal loans aren’t limited to PAYG employees, though. If you’re running your own business, you can still be approved for financing by submitting tax returns and other alternative documents instead of payslips and utilise your funds however you wish.
There’s a variety of expenses which come with being a student, ranging from the cost of your courses, textbooks and computer to your accommodation. Taking out a personal loan can make these costs more manageable by spacing them out.
Some lenders offer green personal loans, which are designed to be used for energy-efficient appliances and products such as solar panel and air conditioning installation in your home. You can qualify for lower interest rates and fees with this loan.
Why compare personal loans through Savvy?
100% free
There's no need to worry about forking out to compare offers. Our service is free, so you can come back whenever you like.
Paperless applications
You won't need to worry about sifting through documents and visiting the post office, as they can all be submitted online.
Reputable lending partners
We've partnered with personal loan companies you can trust to ensure your comparison is a high-quality one.
How to save on your $15,000 personal loan
Improve your credit rating
Taking steps towards increasing your credit score is a great way to reduce the interest rate you’re offered on your personal loan. While this may not make a huge difference in the context of your monthly payments, even small changes in rates can lead to a significant saving on your loan overall.
For example, you could save just under $250 by taking on a $15,000 loan over three years at 7.5% p.a. instead of 8.5% p.a.
Choose a shorter loan term
By reducing your time spent paying interest and fees, you can save a tremendous amount of money overall. The way that interest is calculated means that you’ll pay more over a longer term, even if the loan amount and rate are the same.
To demonstrate this, applying for the same $15,000 loan at 7.5% p.a. would cost over $1,200 less when paid over three years compared to five.
Make extra repayments
Following the same principal, making extra contributions throughout your loan term is an efficient way of cutting down on the cost of your loan. By simply paying $50 above the minimum required amount each month on your three-year, 7.5% p.a., $15,000 personal loan, you’d save almost $200 in interest alone and pay it off three months ahead of schedule.
Most lenders will enable you to do this for free, but some can charge a fee for doing so, so you should be aware of this when comparing.
Compare loans with low or no fees
There’s a great deal of importance in comparing personal loans, particularly when it comes to the fees charged. Lenders can differ quite widely in this respect, but establishment fees can cost up to $595 and ongoing fees up to $10 per month.
However, we’re partnered with lenders who charge well below the maximum for each and can, in some cases, disregard them altogether. A mere $5 difference in monthly fees can save you around $180 in itself.
Supplement with your savings
If you have the opportunity to do so, covering part of your purchase or expense with your savings could prove to be a highly efficient way of reducing the cost of your loan.
This is essentially the equivalent of a deposit (which don’t really occur with personal loans), so they function as an interest-free lump sum paid at the start of the loan. Paying $3,000 out of pocket and taking out a $12,000 loan could save you over $350 in interest alone.
Frequently asked questions about $15,000 personal loans
From the point that you submit your initial application, you can receive an instant outcome in just 60 seconds confirming whether you were successful or not.
After this, the rest of your application will take place with your lender and you can receive your $15,000 directly into your bank account in just 24 hours. The entire process is a very fast one, so you can be sure to have whatever expenses you need to pay for covered in no time.
Yes – your employment status will have an impact on the amount you’re approved for, your loan term and your interest rate. This is because lenders look for stability of employment as a large part of the personal loan assessment process, as applicants who have this are considered the safest in terms of being able to comfortably repay the loan without any issues. Casual employees, for instance, don’t have the same job security as full-time workers, which will be reflected in the terms that they’re offered.
Yes – our panel of lenders offer a range of different products, including those with both fixed and variable interest rates. Fixed rates are the most commonly occurring when it comes to personal loans and are popular thanks to the stability that they bring and the fact that they’re offered at lower base rates. Variable interest, on the other hand, can be useful if you’re looking to take advantage of an interest rate in decline, potentially saving you a meaningful sum overall.
Probably not – the institution that you bank with is unlikely to be able to offer you the lowest rate on your personal loan, as these are generally reserved for more competitive online lenders like the ones counted amongst our panel. However, even if it did offer you the best loan, you should always compare as many as you can before submitting your application. By blindly trusting the first offer you see, you could be missing out on other great deals.
No – this is a big “do not” when it comes to applying for personal loans. Each time you apply for a personal loan, successful or not, it goes against your credit file. Because each lender will assess your credit file in the financing application process, they’ll be able to see where you’ve applied multiple times in quick succession and may be put off by this. If you’re racking up plenty of rejected applications in a short space of time, it can start to damage your credit rating after a while, so you should be careful with this.
If you’re earning enough to support the payments, yes – single mothers and fathers are still able to access personal loans in the event that they need a helping hand financially. However, the amount you’re ultimately approved for will depend on your disposable income and its stability. If you also have bad credit, you won’t be approved for a $15,000 loan.
Helpful personal loan guides
Still looking for the right personal loan?
Read more about the ways you can use personal loans, as well as how they might work for you, with us.