Compare personal loans with no fees

Securing a personal loan with low or no fees can be the difference between paying hundreds more dollars for your finance and saving that money. Because of this, it’s important to compare your options with as low fees as possible, which you can do right here with Savvy. You can choose from a range of low- and no fee offers and save on your personal loan today.

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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 benefits and features of a no fee personal loan

Borrow up to $50,000

Even without security, you can borrow amounts of up to $50,000, with loans as small as $5,000 still available to borrow.

Flexible borrowing terms

Personal loans enable you to extend your borrowing term out from just one year all the way up to seven to shape the cost of your repayments.

No upfront or ongoing fees

The only added cost you’ll need to worry about with a no fee personal loan is paying for interest, with no upfront or ongoing fees to concern yourself with.

Money in your account in 24 hours

The rapid nature of personal loans means that you can be approved within minutes and have your funds transferred in as little as one day.

Pay out your loan early

As part of your no fee personal loan, you can save even more money on interest when you make additional repayments and complete your payments ahead of schedule.

Personalised rates

Each personal loan is automatically tailored to your personal financial situation, so the interest rate you receive will reflect your profile rather than a general one.

Secured or unsecured

You have the freedom to not provide security if you don’t want to, but doing so can help you secure an even lower rate.

Fixed interest

Because your interest is fixed at the beginning of the loan, you can budget with greater ease each month around your personal loan repayments.

Why so many Australians compare with Savvy

How to qualify for a no fee personal loan

Common queries about no fee personal loans

Which fees aren’t charged on a no fee personal loan?

The following costs are able to be avoided on a no fee personal loan:

  • Monthly ongoing fees: can cost up to $20 each month
  • Establishment fee: can cost up to $600
  • Additional repayment fees: generally don’t apply to personal loans, in particular those with variable rates
  • Early settlement fee: can range up to as much as $600 or more, depending on the time left to run on the loan
  • Redraw fees: can cost $20 to $30
What else should I compare with no fee personal loans?

There are several other factors you should look for when comparing personal loans. These include:

  • Interest rates: look for low rates to potentially save a significant sum over your loan term
  • Additional features: things like free additional repayments and redraw facilities can improve your overall borrowing experience
  • Loan amount: look for lenders who can offer you the amount you’re looking for
  • Loan term: ensure you can repay your personal loan comfortably over a term that suits your financial situation
Can I get a no fee personal loan with a bad credit score?

No – bad credit scores are deemed a riskier proposition by lenders, as they’re granting money to a borrower with an imperfect or inexperienced history of repaying debts. It’s highly unlikely that your fees won’t be charged, as these are part of the lender’s risk mitigation strategy.

Will a guarantor help me get a no fee personal loan?

Potentially – a guarantor adds a later of security to your loan that instils greater confidence in your lender that their funds will be repaid, as they agree to service the loan should you become unable to. As a result, you can experience lower interest rates and can have your fees waived on your personal loan.

Are there any fees I may still have to pay on my personal loan?

Yes – you’ll be charged a late payment fee for submitting an instalment behind schedule no matter what the loan product or lender. These will generally come in at around $20, but in some cases may reach closer to $50. Lenders will have different policies surrounding when these fees are applied, but you’ll most commonly find that lenders charge a late payment fee when either all or part of the outstanding repayment is five or more days overdue.

What is a comparison rate?

Comparison rates are figures that incorporate both your interest rate and primary fees on your personal loan into one percentage, which provides a more accurate understanding of the cost of your personal loan. On no fee personal loans, you’ll notice that these rates are the same as the interest charged, which is because of the lack of upfront or ongoing fees. When comparing loans, you should always do so with a comparison rate rather than purely interest, as the lowest rates aren’t always the cheapest loans.