$20,000 personal loans from 60+ brands

Find personal loans from a wide range of Australian lenders that best suit your needs. Compare interest rates, repayments, fees and more.

Now showing 1 - 17 of 17 20000 loans
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20000 loans

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Unsecured Personal Loan (5 Year Term)
*Comparison rate is calculated based on a loan of $30,000 over 5 years.
Advertised Rate
9.57%
fixed
Comparison Rate
11.08%*
Monthly Repayment
$421
Upfront Fee
$350
Compare
Promoted
Unsecured Personal Loan (Excellent Credit)
Advertised Rate
From
6.99%
fixed
Comparison Rate
7.69%
Monthly Repayment
$396
Upfront Fee
$500
Compare
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Fixed Low Rate (Excellent Credit Rating)
Advertised Rate
10.99%
fixed
Comparison Rate
12.21%
Monthly Repayment
$435
Upfront Fee
$250
Compare
Unsecured Loan (Excellent Credit)
Advertised Rate
From
7.65%
fixed
Comparison Rate
7.65%
Monthly Repayment
$402
Upfront Fee
$0
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Discounted Personal Loan
Advertised Rate
7.99%
fixed
Comparison Rate
8.35%
Monthly Repayment
$405
Upfront Fee
$250
Compare
Secured Freedom Loan
Advertised Rate
7.83%
variable
Comparison Rate
8.74%
Monthly Repayment
$404
Upfront Fee
$250
Compare
Excellent Credit Personal Loan - Fixed Repayments (Unsecured)
Advertised Rate
From
8.10%
fixed
Comparison Rate
9.36%
Monthly Repayment
$406
Upfront Fee
3%
of loan amount
Compare
Unsecured Personal Loan - Diamond (Excellent Credit)
Advertised Rate
8.50%
fixed
Comparison Rate
9.36%
Monthly Repayment
$410
Upfront Fee
$595
Compare
Personal Loan
Advertised Rate
From
9.99%
variable
Comparison Rate
9.99%
Monthly Repayment
$425
Upfront Fee
$0
Compare
Personal Loan Fixed Rate
Advertised Rate
From
9.50%
fixed
Comparison Rate
10.06%
Monthly Repayment
$420
Upfront Fee
$150
Compare
Unsecured Loan (Good Credit)
Advertised Rate
From
10.99%
fixed
Comparison Rate
12.09%
Monthly Repayment
$435
Upfront Fee
3%
of loan amount
Compare
Grade A SocietyOne Loan Fixed
Advertised Rate
From
11.39%
fixed
Comparison Rate
13.23%
Monthly Repayment
$439
Upfront Fee
4%
of loan amount
Compare
Secured Personal Loan
Advertised Rate
From
12.99%
fixed
Comparison Rate
14.20%
Monthly Repayment
$455
Upfront Fee
$250
Compare
Unsecured Personal Loan
Advertised Rate
13.99%
fixed
Comparison Rate
14.37%
Monthly Repayment
$465
Upfront Fee
$250
Compare
Grade B SocietyOne Loan Fixed
Advertised Rate
From
13.19%
fixed
Comparison Rate
15.17%
Monthly Repayment
$457
Upfront Fee
4.5%
of loan amount
Compare
Unsecured Personal Loan
Advertised Rate
From
13.99%
fixed
Comparison Rate
15.19%
Monthly Repayment
$465
Upfront Fee
$250
Compare
Unsecured Loan (Average Credit)
Advertised Rate
From
14.00%
fixed
Comparison Rate
16.09%
Monthly Repayment
$465
Upfront Fee
4.5%
of loan amount
Compare
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A $20,000 personal loan gives you access to extra funds which you can use at your discretion. This can take the form of expenses such as holidays, weddings, a car, medical bills, small renovations and, in some cases, debt consolidation. To find out if a personal loan will work for you, here’s what you need to know about $20,000 personal loans.

What are $20,000 personal loans?

Personal loans are secured or unsecured amounts of money which are borrowed from lenders like banks, credit unions or peer-to-peer lenders. Think of a personal loan as a general purpose loan which is paid back over an agreed timeframe with interest. Personal loans usually have lower interest rates than credit cards, which make this type of loan a more cost-effective way to borrow a fixed amount of money.

The amount you can borrow for a personal loan depends on the lender as well as how much you earn and what your credit rating looks like. Personal loans commonly range between $1,000 to $50,000 for periods from one to 10 years.

Secured vs unsecured $20,000 personal loans

When it comes to $20,000 personal loans, there are generally two types of loans available: secured and unsecured.

A secured personal loan uses an asset like your house or car as security against the loan. The upside of putting your assets on the line is that your $20,000 personal loan will attract a lower interest rate. The potential downside is that if you default on your personal loan repayments, the lender could seize your assets.

On the other hand, if you don’t have any major assets, you can opt for an unsecured personal loan. This means that the lender will agree to lend you a sum of money without putting your assets as a guarantee. Because the lender is taking a bigger risk, unsecured personal loans tend to have higher fees and interest rates.

What should I look for in a $20,000 personal loan?

Before you apply for a $20,000 personal loan, you’ll want to research and compare the different types of personal loans on the market. Here are some things to consider:

Personal loan interest rate

You can get a $20,000 personal loan on both a fixed or variable interest rate. A fixed interest rate makes budgeting easier because your interest rate will remain the same over the life of the loan. On the flip side, a variable interest rate gives you flexibility if rates go down and will often have lower fees than fixed-rate personal loans.

Personal loan fees and charges

Before you apply for a personal loan, compare loan costs like establishment fees, monthly fees and annual fees. Some loans have charges for making additional repayments or paying off your loan early.

Personal loan redraw facility

A personal loan redraw facility can help with those unexpected bills by redrawing repayments you’ve already made on the loan. Be mindful that redrawing money from your personal loan will push your balance back up.

Flexible repayments

Look for a personal loan that matches your pay cycle. If you’re paid fortnightly, try to align your loan repayments to match. If you pay monthly, you’re making 12 repayments each year. If you switch to fortnightly you’re making 26 repayments which will actually help you pay your loan off faster.

Before you apply for a $20,000 personal loan, it pays to do your research. Work out what features you need and what repayments you can afford to make on your personal loan. Click here to compare $20,000 personal loan options.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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