Here in this blog post, we will see the information about the top 05 personal loans in Australia, and what is the interest rate we will see here. This loan includes cheap interest rates and minimum fees.
Let’s have a look at the best personal loan in Australia.
Top 05 personal loans in Australia
01) Now finance
Now finance has no fees and secured loans with fixed interest rates of starts at 5.95% per annum. Now finance is a popular alternative for customers with outstanding credit wanting to borrow $5,000 to $50,000 Australian dollars.
You will not be charged any application or recurring cost. The maximum loan period is 07 years but if you borrow less than 03 ( three years ) it will be eight thousand dollars the maximum term. You can also pay off the loan early without penalty. This loan also allows you to make weekly or fortnightly installments.
02) Heritage Bank ( Standard personal loan )
Recently in 2022, Heritage Bank received an award for excellent customer service and high trust, Based on your credit rating and financial circumstances you can choose between fixed interest rates of 7.99% per annum and variable interest rates of 11.99% per annum with this loan. Borrow between $5,000 to $25,000 Australian dollars for terms up to 7 years.
You can also Opt for your payment weekly-Bi weekly or monthly. While this loan allows you to make extra payments keep in mind that doing so may result in an additional penalty fee. However, have a redraw option, there are several expenses associated with the heritage bank standard personal loan including $200 application fees and $5 Service fees.
03) Greater Bank ( ING Unsecured personal loan )
In 2022, Greater Bank received an award for outstanding customer satisfaction and excellent customer service. The Greater Bank unsecured personal loan has an interest rate fixed from 6.99% to 10.99% per year based on the credit assessment and maturities range from 02 to 07 years. The loan includes a maximum borrowing amount of sixty thousand dollars ( $60,000 ) in flexible monthly or fortnightly repayment. You can make additional payments and pay off the loans early without penalty but there is no option to redraw. There is also a $150 loan establishment cost.
04) Wisr ( Unsecured personal loan )
According to Wisr, the quick online application means that you can obtain an answer within minutes and funds within 48 hours of approval for borrowers with excellent credit interest rates beginning at 5.95% per annum. Loan duration ranges from 03 to 05 Years with a maximum borrowing sum of $30,000 ( Australian Dollars).
The setup charges $595 extra repayment and is permitted. There are no penalties for repaying the loan early. However, there is no redraw facility you must earn $35,000 or more per year from a consistent source of income. To be eligible also other eligibility criteria apply.
05) Harmoney ( Unsecured personal loan )
The Harmony unsecured personal loan is not your typical loan because it is funded by investors who invest money through its online marketplace known as peers rather than the provider itself. Fixed rates started at 5.35% per annum. And can goes up to 19.09% per annum depending on your credit history.
Harmony provides loans from ranging $2,000 to $70,000 ( Australian Dollars ) with maturities of 03, 05, or 07 Years. There are no admin Costs and you can pay weekly, fortnightly, or monthly. Just keep in mind there is a $575 application fee which is only collected if the loan is successfully funded. If your loan amount is less than $5,000 you only have to pay only $200 application fees.
Hope you guys get the information about the top 05 loans in Australia.