Things you should know about personal loans

What is a personal loan?

A personal loan allows you to borrow a specific amount of money (usually under $50,000) and then repay the debt over an agreed amount of time (usually 1 to 5 years).

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How do I compare personal loans?

We make choosing the right loan easy with our handy tools and guides. Compare and save on personal loans up to $45,000 with great rates starting from as low as 7.89% p.a.

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How do personal loan repayments work?

The way personal loans are usually structured means that you’ll have a clear idea of how much repayments will be, as well as the loan’s length and end-date. From the outset, you should always see where you stand.

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How much can I borrow for a personal loan?

There are a few considerations that come into play when determining how much you can borrow with a personal loan, including how much you can afford and your loan purpose.

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Personal loan statistics in Australia

See the changing face of personal loans in Australia and explore up to date primary data and statistics covering market growth and consumer behaviour.

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This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. Any opinions, forecasts or recommendations reflect the judgement and assumptions of RateSetter as at the date of publication and may later change without notice.