Highest rated loans

Find the best loan option in Australia

Minimum loan amount


Maximum loan amount


Minimum loan term

18 months

Maximum loan term

7 years


7.65 - 31.13 %

Minimum age

18 years


Representative example: Loan amount: $30,000, Loan term: 60 months, Total amount payable: $38,610, APR 10.56 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.

Minimum loan amount


Maximum loan amount


Minimum loan term

12 months

Maximum loan term

5 years

Max. APR

43 %

Minimum age

18 years


Representative example: Loan amount: $10,000, Loan term: 36 months, Monthly payment: $498.66, Total cost of loan: $17,951.76, APR: 43 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.

Useful information about financial products and debt management

Do you really need a loan today? This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

Before you borrow

Before you borrow money you should ask yourself whether you really need to spend the money and whether you can afford to pay back the money you're planning to borrow. Before borrowing ask yourself:

  • Can the purchase wait until I can afford it without taking a loan?
  • If the purchase is urgent is there another way I can get it? For example, ask employer for money advance, borrowing from family or friends.
  • If the purchase is not urgent can I save up money?

You should never take a loan if:

  • You want to take a loan to pay off other loans;
  • You already have one or more loans;
  • You already have other outstanding debts and/or missed payments;
  • If you are not sure of your capability to pay the loan back on time.

Some loans have variable interest rates, which means that interest rate can increase or decrease. You shouldn't take this type of loan in case you feel that you won't able to repay the loan if interest goes up.

If you still feel the need to take
a loan you should pay attention to:

Look at your income and outgoings and think if you'll be able to pay all your bills and debts. Calculate how much you can afford to repay each month. If your budget shows that you'll have no money for extra payments then it means you can't afford to take a loan.

Don't accept first loan you're offered, compare various lenders to make sure you get the best possible loan offer!

Make sure you have all the necessary paperwork:

  • Proof of income - payslip, tax return report etc.
  • Information about your current expenses - for example, bills, rent, other loans etc.
  • Copy of your bank statement that shows your savings and other made repayments such as credit cards.
  • Passport or drivers licence.

Age restriction: All credit companies set the limit on age themselves. In most companies, loans are granted from the age of 18 and up to the age of 60–70.

Annual Percentage Rate (APR)

Annual Percentage Rate represents an annual cost (in %) of borrowing. The APR takes factors such as interest rate and certain other fees and charges into account. In order to make it easier for you to compare one loan to other similar loans, lenders are required to tell you their APR before you sign an agreement.

For example:

Lender A offers
3000 AUD for 360 days
with an APR of 13.4 %
Lender B offers
3000 AUD for 360 days
with an APR of 19.9 %

As it shows, in the scenario above, borrowing from Lender A would be a better idea, because you would get the same amount of money for the same term, but each month you would pay less interest.

Borrowing costs and fees

  • Establishment fee: some lenders may ask you to pay this fees when setting up your loan, this fee can't be more than 20% of the loan amount.
  • Monthly loan administration fee: some lenders may ask you to pay monthly loan administration fee, however it can't me more than 4% of the loan amount.
  • Early loan repayment fee: You may be asked to pay this fee if you decide to pay-out your loan early. This fee is calculated according to how much you still owe to your lender and for how long.
  • Late payment charges: if you miss a payment you usually have to pay late payment charge, so make sure you never miss a payment to avoid extra charges, also please note that this can also affect your credit score, which can make it harder to borrow money in the future.
  • Enforcement expenses: if you don't pay back your loan, your lender can go to court to recover the owed money, in such cases you will be asked to cover these expenses.

If you're not able to pay back loan on time

  • Loan extension: If you realize that you will not be able to repay the loan on time, there is a service of loan repayment period extension, which is offered by many companies for an additional cost. Every credit company sets the fee for the service of extending repayment period itself.
  • Credit holidays: the delay of loan payments for a certain amount of time is called credit holidays. Credit holidays are available in some cases, such as a temporary loss of working ability or loss of job. In most cases credit holidays are granted for a period from one month to one year.
  • Seek for help: if you experience money problems, feel free to contact a financial counsellor, it's confidential and free of charge. For more information call financial counselling hotline 18000 007 007 or visit www.moneysmart.gov.au.

Loan term

Choose the shortest loan term you can afford. Longer-term loans might seem appealing at first as there are lower monthly repayments, however it may turn out that the total repayment is higher. If affordable it's better to take a loan for shorter period of time and pay back higher amount of money each month.

Before you borrow
check if your lender is licensed:

To make sure credit provider is licensed, you can check ASIC Profession Register.

Personal loans

Personal loan is a good choice if you are in need of a certain amount of money for a certain cause – for example, home or garden improvement, travelling or study expense coverage (student loans).

The main characteristics of personal loan: large amounts of money and long terms of loan repayment.

Personal loan comparison on moneyguru24.com helps you choose the best personal loan that best suits your need.

The process of obtaining a personal loan: to get your money, in most cases, it is enough to submit an application online and wait for the positive decision from the loaner. However, the lender may require proof of your income.

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems. Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94.
  • The Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you.

Which is the best place to apply for a personal loan?

There are quite a lot of loan companies. We recommend you refrain from cooperating with companies that provide dubious service or companies with bad customer reviews. On our site you will find reliable companies that have been working in the field of crediting for a long time.

MoneyGuru24 is not a bank, lender, broker or product issuer. MoneyGuru24 is not owned by a financial institution but is an independent company owned by private shareholders. All information provided on MoneyGuru24 has general and informative nature. Although MoneyGuru24 covers wide range of loan products and providers, keep in mind that those are not the only options available in the market and may not be the best fit for you. We do not consider your personal circumstances and financial situation and we are not recommending any particular products. If you choose to apply for a loan product through MoneyGuru24 website you will be dealing directly with the loan provider not with MoneyGuru24. It is recommended for you to read all relevant documentation given by the loan provider before accepting any financial product offer.


  • What is a loan?

    Loan is a good choice if you are in need of a certain amount of money for a certain cause – for example, home or garden improvement, travelling or study expense coverage (student loans). Personal loan comparison on moneyguru24.com helps you choose the best personal loan that best suits your need.

  • Should I consider getting a loan?

    If you find yourself in a sudden need of money, for example, you receive an unexpectedly big bill for a service, first – talk over with whomever you got your bill from and explain the situation you’re in. You may plan an extended term to your bill or suggest a partial payment during a longer term. If that is not possible, you should consider getting a loan. But you should get a loan only if you are able to pay it back.

  • How do I get a loan?

    You can apply for a loan using an online application form. To get the loan you have to be over 18, employed, with a regular monthly income and have a bank account. Even though the application is really easy, you shouldn’t rush into getting a loan. Be careful and read all the information, small print, terms and conditions on the politics of financial enterprise which you find most efficient after comparing all the options in MoneyGuru24.com.

  • How do I pay back my loan?

    Most of financial enterprises, that offers loans, debit the payment directly from your bank account. But there are still some credit companies that haven’t established this service yet, so you must remember to pay back your debt as soon as you get your monthly paycheck. If you are thinking about extending the term of your loan, be sure to inform the lender before the current due date expires.

  • What happens if I can’t pay back my loan?

    If you miss payments or fail to repay your loan and cannot reach an agreement on the extension of credit term, then it is quite possible that the lender will leave a bad mark in your credit reference file. This can cause difficulties to obtain credit, leasing or other financial services in the future. Serious cases of missed payments (non-payment) can be brought to court. In this case, the court costs will be added to the amount of your debt. For more information about loan extension policy, description of the company's policy in cases of missing payments and non-payment actions, visit your lender’s website.

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