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Comparing Australia's Top Personal Loans for October
Explore personal loans with rates starting at 5.67% APR. Find the right loan for your credit profile and financial needs.
Quick Picks
Best overall: Harmoney Personal Loan.
Best for large amounts: Liberty Financial Personal Loan.
Most flexible: Plenti Personal Loan.
Fintech Loan Leaders
This section features fintech lenders known for competitive rates and a fully digital experience. Ideal for tech-savvy borrowers seeking quick access to funds.
Harmoney Personal Loan
Harmoney offers the lowest unsecured rate at 5.76% p.a. in the market, making it a standout for borrowers with good credit. Despite the A$70,000 cap, its fully online process and no credit score impact for rate checks are appealing. However, be prepared for an establishment fee and higher rates for riskier profiles.
OurMoneyMarket Personal Loan
OurMoneyMarket competes closely with a 5.95% p.a. starting rate, but its lack of ongoing fees and early exit fees makes it attractive for medium-term loans. The Rate Beat guarantee is a unique feature, though its shorter 5-year term may not suit everyone.
Plenti Personal Loan
Plenti stands out with a low rate of 6.17% p.a. and no monthly or early repayment fees. It's perfect for those valuing speed and simplicity, with funding within 24 hours. The Canstar award highlights its value, though its loan cap could be a limitation.
Moving from fintech to big banks, these next options offer stability and broader support networks for those who seek more traditional institutions.
Big Bank Reliability
Choose these options if you prioritize established brand security and branch access for in-person support.
ANZ Personal Loan
ANZ offers both fixed and variable rates from 7.49% p.a., with loan terms up to 7 years. The strong branch network is a plus for personal service, though the higher starting rate and potential fees might deter some.
ING Personal Loan
ING provides a competitive fixed-rate option starting at 6.19% p.a., ideal for those seeking a digital-first experience. Its no early repayment fees are a highlight, but the A$60,000 cap may limit larger projects.
NAB Personal Loan
NAB's tight rate range of 7.50% to 12.99% p.a. offers an appealing cap for higher-risk borrowers. The waived application fee until July 2026 adds value, although its monthly fee is a downside.
While big banks offer security, non-bank lenders can provide flexible terms and competitive rates for those who don't fit traditional profiles.
Non-Bank Alternatives
These lenders are known for flexible criteria and offer secured options for those needing more tailored solutions.
Liberty Financial Personal Loan
Liberty Financial offers secured loans starting at 5.67% p.a., appealing to those who may not qualify with traditional banks. Its flexible lending criteria and A$80,000 cap are notable, though its non-bank status means no deposit accounts.
Commonwealth Bank Personal Loan
Commonwealth Bank's secured car loans begin at 6.79% p.a., with an EV Access Program at 5.79% p.a. This is a compelling choice for eco-conscious borrowers, but watch out for the $250 establishment fee on unsecured loans.
Westpac Personal Loan
Westpac's discounted electric car loan at 6.49% p.a. is great for EV buyers. Its flexible terms and strong branch network are advantages, though the median rate of 16.49% p.a. might not be competitive for unsecured loans.
When selecting a personal loan, assess your priorities—whether it's the lowest rate, flexible terms, or big-bank security. For a deeper dive into the top picks this season, explore our Top Personal Loans for September: Compare Rates and Terms — it's packed with valuable insights for making the right choice.