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This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about Personal Loans from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers, for further details refer to our FSCG. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a Personal Loan, you will deal directly with a financial institution, and not with RateCity.

Best personal loans

Compare the best personal loans and lowest interest rates at RateCity.com.au.

What can a personal loan be used for?

Personal loans can be used for practically any legal function such as paying for tuition fees, debt consolidation, a holiday, a boat, kitchen renovations and even a car.

How do they work?

Personal loans are a relatively basic kind of financial product. Consumers can borrow a specific amount of money which is required to be paid back with interest (in equal repayments) over the term of the loan.

Types of personal loans
  • Secured - tied to an asset (like a car or boat) which is as collateral if you fail to make your repayments.
  • Unsecured - not tied to an asset and therefore offers no security to the bank if you are unable to make repayments.
  • . If a loan is secured this means that it will be tied to an asset, which can be reposed if you fail to make your repayments. Unsecured loans are collateral free and therefore tend to have higher interest rates.
Unlike other forms of finance (such as a credit card), personal loans are generally cheaper as they have lower interest rates.

Related Search: Compare best personal loans
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About Personal Loans Articles

RateCity provides personal loan news and features, including a range of weekly stories and economic updates. By checking our personal loan news and features daily, you can ensure that you receive up to date, expert commentary on current financial and economic issues. Before you search, compare or apply for the best personal loan for you, help yourself understand the market by reading mortgage news and features at RateCity.

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