Personal Loan

Get the best personal loan for you
Most people shop around before they pick a holiday or buy a car. Shopping around for the right loan can save you thousands in interest and fees.

Fixed or variable interest rate
With a fixed interest rate, your repayments are fixed and won’t change over the loan term. You’ll know exactly how much will come out of your bank account each month.

With a variable interest rate, your repayments will change if interest rates change. If interest rates rise, your repayments will be higher. If interest rates fall, your repayments will go down.

A loan with a variable interest rate usually has no early exit fee. This might be better if you’re planning to pay the loan back early.

Secured or unsecured loan
With a secured loan you provide an asset, such as your car, as security for the loan. If you don’t pay the loan back on time, the lender can repossess your asset and sell it.

With an unsecured loan, you don’t have to provide an asset as security. But the interest rate will be higher, and you may need a loan guarantor. If you fail to pay back the loan, the lender can still take you to court to get back the money you borrowed.

Loan guarantor
Some lenders will give you a lower interest rate if you have a loan guarantor. Before you ask a family member or friend to go guarantor for you, make sure you both understand the risks for a guarantor.

No interest loans
If you need to borrow up to $2,000 quickly for essentials, like a fridge or car repairs, see if you can get a no interest loan. These loans have no interest, no fees and quick approval.