Compare unsecured personal loans

Looking for the freedom to spend loan funds how you like without worrying about putting up an asset as security? Unsecured personal loans could be the best option for you.

Unsecured personal loans can be used to cover a variety of expenses. School fees, holidays, home renovations, weddings, and giant cutting-edge TVs are just a few reasons people apply for a loan. In fact, no matter what you want to spend your money on, chances are there is an unsecured personal loan that is right for you.

At Savvy, we help you compare from our range of diverse, flexible lenders so that you can find the best unsecured personal loan for your needs. With borrowing up to $50,000, flexible repayment options and money in your account in just 24 hours, you can start comparing now and save on your loan.


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site-logos Harmoney Unsecured Personal Loan
rate from
rate from
site-logos 5.35%
over 60 months
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Borrow up to $50,000 with personalised rates and repay over 3 or 5 years loan terms.

site-logos Symple Loans Personal Loan
rate from
rate from
site-logos 5.75%
over 60 months
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Earn up to 50,000 Qantas Points with a more rewarding personal loan from Symple

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

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

Savvy provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading your lender’s PDS or offer documentation or seek independent advice. While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Savvy.

The features of an unsecured personal loan

Low rates from 5.35% p.a. (6.14% p.a. comparison)

Compare from a variety of lenders in the personal finance space to find the most affordable low-rate option to suit your needs, as well as cheap fees.

No assets needed

Because your loan is unsecured, you don’t have to worry about putting up a valuable asset like your car or equity in your home as collateral.

Borrow what you need up to $50,000

You can apply for any amount from as little as $2,000 all the way up to $50,000, making it a suitable option for a wide range of needs.

Money transferred in 24 hours

The lack of security on your loan speeds up the already fast online process, with instant outcomes available in just 60 seconds prior to your formal application.

Choose your loan term and pay schedule

You can also decide how to pay your loan: select a term between one and seven years and either weekly, fortnightly or monthly payments.

Fixed or variable options

Unlike some other types of loans, you have your pick of fixed and variable rate options for your unsecured personal loan, affording you more freedom of choice.

Pay it off early at no extra cost

You can compare personal loans which come with free additional repayments and no fees associated with settling the amount early.

Use it how you like

There are essentially no restrictions on how you can use and distribute your personal loan funds: consolidate debt, upgrade your home, go on holiday or enjoy a combination.

Why you should compare your personal loan options with Savvy

Savvy knows the car loan market well; we can help you find the best deal quickly and get you on the road in no time

Unsecured personal loans explained further

Frequently asked unsecured personal loan questions

What are the eligibility requirements to get a personal loan?

You must be at least 18 years old and have 100 points of ID.

You need to provide proof that you can repay the loan. This can include evidence of employment, payslips, bank statements, proof of your assets, expenses, or other loans you have. The lender may also have minimum income requirements.

A good credit rating is essential for an unsecured personal loan. If your credit score is low, you can use a co-signer. A co-signer is a person who is responsible for your loan if you’re unable to make your repayments.

What other features can my personal loan come with?

One feature you may find useful on your personal loan is a redraw facility. These enable you to withdraw additional payments previously made across your loan at your discretion. You can compare lenders offering redraw facilities here with Savvy.

Will applying with my partner increase my borrowing power?

It can – having more than one borrower on a personal loan means that there are two incomes to be relied upon instead of one. The combined income of you and your partner may enable you to borrow more than you otherwise would on your own.

This will also depend on the policy of the lender you choose to go with. If their personal loans are capped at $50,000, for example, you won’t be able to exceed that amount regardless of what you and your partner earn. A joint application in this instance may only succeed in allowing you to borrow over a shorter term.

Can I get approved if I’m self-employed?

Yes – self-employed workers can use their last two years’ tax returns in place of payslips in the application process to qualify for a regular unsecured personal loan.

However, if you can’t manage this, you can instead opt for a low doc personal loan. These utilise alternative documentation such as BAS, bank and profit and loss statements, your ABN and GST registration and an income declaration. These loans come with higher interest rates and lower caps on borrowing at around $10,000.

How can I cut down on interest?

There are several ways that you can look to reduce your interest spend across your loan. Choosing a shorter term, making additional repayments and paying it off early are all safe ways to save money on interest throughout your loan repayments.

In terms of reducing the rate itself, improving your credit rating by paying off any outstanding debts and continuing to pay your bills on time is one key way to access lower interest. Having repaid a similar loan in the past will also help you here.

Can I use an unsecured personal loan for my business?

Yes – however, you might be better off accessing an unsecured business loan instead. These can provide business owners with access to funds of up to $300,000 without needing to provide any security. Additionally, these can be repaid over terms as little as three months up to five years.

These loans are more restrictive than personal loans, though, in that you’re required to use the funds for business purposes only. However, you can get approved just as quickly for far greater sums, which makes them appealing for borrowers. You can compare unsecured business loans with Savvy.

What do I need to know about my credit score?

Because unsecured personal loans don’t have any underlying assets, lenders will rely heavily on your credit report to assess your application. Your report contains your credit history, including whether you pay bills and credit cards on time and whether you’ve overdrawn on transaction accounts. If you apply for too many loans at the same time, it will also raise a red flag, so make sure you fill out your application carefully and only submit it once.

It’s important to note that though these agencies have a lot of paid reports on their websites, according to the Office of the Australian Information Commissioner, you are entitled to one free credit report per year, and an extra free report if you have been refused credit in the last 90 days.