Compare flexible personal loans

Personal loans are one of the most flexible types of financing available to borrowers in Australia. Few other loans give you the opportunity to borrow up to $50,000 (and sometimes more) to spend how you like.

At Savvy, you can compare the best and most flexible personal finance offers on the market, from selecting your loan sum and term right down to their extra features. Start your personal finance journey and find the loan for you here.

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ourmoneymarket: OurMoneyMarket
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site-logos Harmoney Unsecured Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 5.35%
fixed
6.14% 
fixed
$570.96
over 60 months
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More details

Borrow up to $50,000 with personalised rates and repay over 3 or 5 years loan terms.

site-logos OurMoneyMarket Unsecured Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 5.45%
fixed up to 20.99% p.a.
6.04% 
fixed up to 23.83% p.a. based on $30,000 over 5 years
$572.34
over 60 months
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More details

Apply for an unsecured personal loan up to $75,000 and receive a special rate of 5.45% p.a. for first 12 months for loan amounts over $35,000.

site-logos Symple Loans Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 5.75%
variable
6.47% 
fixed
$576.50
over 60 months
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More details

Earn up to 50,000 Qantas Points with a more rewarding personal loan from Symple

site-logos Now Finance No Fee Unsecured Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 5.95%
fixed up to 17.95% p.a.
5.95% 
fixed up to 17.95% p.a. based on $30,000 over 5 years
$579.29
over 60 months
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More details

Borrow up to $50,000 with no fees, now and forever. Minimum requirement to earn $22,100 p.a. and have good to excellent credit.

site-logos SocietyOne Unsecured Personal Loan
  Advertised
rate from
Comparison
rate from
Monthly
Repayments
 
site-logos 5.95%
fixed up to 19.99% p.a.
5.95% 
fixed up to 20.93% p.a. based on $30,000 over 5 years
$579.29
over 60 months
Go to site
More details

Borrow up to $50,000 with rates between 5.95% p.a. and 14.99% p.a. based on your credit rating.

Harmoney customers applying for loans of this amount and length can receive an interest rate between 5.35% p.a. and 19.09% p.a. (6.14% p.a. and 19.99% p.a. comparison rates). Loan terms are offered for lengths of three or five years. A $30,000 personal loan repaid monthly over five years at the minimum 6.14% p.a. comparison rate will cost an estimated $34,916.34, inclusive of all interest and most fees, with monthly repayments of $581.94.

Symple customers applying for loans of this amount and length can receive an interest rate between 5.75% p.a. and 25.99% p.a. (6.47% p.a. and 29.20% p.a. comparison rates). Loan terms are offered for lengths of one to seven years. A $30,000 personal loan repaid monthly over five years at the minimum 6.47% p.a. comparison rate will cost an estimated $35,193.78, inclusive of all interest and most fees, with monthly repayments of $586.56.

SocietyOne customers applying for loans of this amount and length can receive an interest rate between 5.95% p.a. and 19.99% p.a. (5.95% p.a. and 21.70% p.a. comparison rates). Loan terms are offered for lengths of two, three or five years. A $30,000 personal loan repaid monthly over five years at the minimum 5.95% p.a. comparison rate will cost an estimated $34,757.21, inclusive of all interest and most fees, with monthly repayments of $579.29.

Now Finance customers applying for loans of this amount and length can receive an interest rate between 5.95% p.a. and 17.95% p.a. (5.95% p.a. and 17.95% p.a. comparison rates). Loan terms are offered for lengths of 18 months to seven years. A $30,000 personal loan repaid monthly over five years at the minimum 5.95% p.a. comparison rate will cost an estimated $34,757.21, inclusive of all interest, with monthly repayments of $579.29.

OurMoneyMarket customers applying for loans of this amount and length can receive an interest rate between 5.45% p.a. and 20.99% p.a. (6.04% p.a. and 23.83% p.a. comparison rates). Loan terms are offered for lengths of one to seven years. A $30,000 personal loan repaid monthly over five years at the minimum 6.04% p.a. comparison rate will cost an estimated $34,855.67, inclusive of all interest and most fees, with monthly repayments of $580.93.

The features and benefits of a flexible personal loan

Borrow what you need

Loan amounts are wide-ranging, with sums starting at just $2,000 and stretching all the way up to $50,000, which makes them versatile for many purposes.

Repay over one to seven years

You also get to choose whether to save on repayments by stretching it out up to seven years or cut down on overall interest and fees by opting for as few as one.

Access competitive rates

With fixed fees and no interest rates, borrowers carry a degree of certainty regarding their repayments and can budget effectively around them

100% online applications

On top of your ability to choose the bulk of your loan’s terms, you can do so at affordable rates starting from just 5.35% p.a. (6.14% p.a. comparison)

Choice of fixed or variable interest

We’re partnered with a selection of lenders that enable us to display offers for both fixed and variable interest rates, giving you more choice on your loan.

Set your own payment schedule

Most lenders will also enable you to have a say in the frequency at which you contribute to your personal loan: either weekly, fortnightly or monthly payments.

Pay your loan off early

You have the freedom to not stick to a rigid pay schedule, though, and can (in most cases) pay your loan in full before its end date and not incur any fees for doing so.

Redraw facilities

Some personal loans also come with redraw facilities that enable you to withdraw extra payments made towards your loan, bringing even more flexibility to the loan.

Why Australians compare flexible personal loans with Savvy

What you could use your flexible personal loan for

Frequently asked flexible personal loan questions

How quickly will my personal loan be approved?

With Savvy, your personal loan can be approved, processed and have funds sent through to you in as little as 24 hours. 

Who is eligible to apply for a flexible personal loan?

While eligibility specifics may differ from lender to lender, the criteria you’ll be required to meet will include the following:

  • Must be at least 18 years old
  • Must be an Australian citizen or permanent resident
  • Must be earning at least $26,000 from stable income sources
  • No bankruptcies or defaults on your credit file
Can I apply for a flexible personal loan with bad credit?

Yes – personal loans are available to bad credit borrowers, although they aren’t as flexible as those for borrowers with good credit. This is because options are more limited, giving you fewer products and lenders to choose from, and borrowing is capped at around $10,000 for unsecured loans. Nevertheless, they can serve as a great financial solution for borrowers in positions like these.

Which factors can affect my interest rate?

Your interest rate is dependant on several different factors, which include:

  • Your credit rating – higher scores attract lower rates
  • Your past borrowing – can reduce your rate if you’ve paid off a similar loan in the past
  • Your job stability and income – safer jobs and higher income earners are usually rewarded with lower rates
  • Which rate you choose – fixed interest starts at a lower base rate than variable
  • Your loan security – attaching collateral will reduce your rate substantially
What fees will I need to pay?

The fees that you’re likely to pay on your personal loan include:

  • Application fee: $0 to $595
  • Ongoing fees: $0 to $10
  • Early repayment fee: $0 to $600 or over (depending on time left on loan)
  • Late payment fee: $15 to $35

 

As you can see, though, many of these fees are able to be avoided. Early repayment fees, for instance, are uncommon on personal loans, while many of our partnered lenders also don’t charge ongoing fees. You can compare these here with Savvy.

Am I able to submit my application with another person?

Yes – submitting a joint application can be a great way to maximise your chances of personal loan approval, as well as increase your borrowing power and lower your interest rate. This is usually done with a partner but can also be taken out with a family member or close friend.

You can also arrange for a close relation to act as a guarantor on your loan, which will have the same effect (if not greater). Under this example, your guarantor agrees to take on the loan debt if you become unable to do so. These are limited to those with comfortable or strong financial positions, though.