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Personal loans in Canberra from 90+ lenders
Find personal loans from a wide range of Australian lenders that suit your needs. Compare interest rates, repayments, fees and more.

Unsecured Personal Loan - (Excellent Credit)
Get a personalised rate estimate in 2 minutes that won't impact your credit score.
6.95
% p.a
Fixed
7.78
% p.a
Fixed
Apply online for this competitive fixed rate personal loan with no ongoing fees or early exit penalty, available to borrowers with excellent credit.
Find and compare Canberra personal loans
Product Low Rate Personal Loan Unsecured (Excellent Credit) Real Time Rating™ Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 | Interest Rate 6.25 % p.a Fixed up to 8.99% | Comparison Rate* 6.88 % p.a Fixed up to 9.63% | Company | Monthly repayment $916 36 months | Loan term 1 year to 7 years | Total repayments $32,978 | Go to site | ![]() Total repayments for a 3-year, $30,000 loan at 6.88% would be $32,978*. Terms from 1-7 years | special No extra repayment or early exit fees. Funding approved in 24 hours. Up to $75,000 loan amountWinner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 | A competitive fixed rate personal loan with flexible repayment options, no ongoing or early exit fees, and fast funding. Available to excellent credit borrowers. | |
Product Unsecured Personal Loan - (Excellent Credit) Real Time Rating™ | Interest Rate 6.95 % p.a Fixed | Comparison Rate* 7.78 % p.a Fixed | Company | Monthly repayment $926 36 months | Loan term 3 years to 7 years | Total repayments $33,323 | Go to site | ![]() Total repayments for a 3-year, $30,000 loan at 7.78% would be $33,323*. Terms from 3-7 years | Apply online for this competitive fixed rate personal loan with no ongoing fees or early exit penalty, available to borrowers with excellent credit. | ||
Product No Fee Personal Loan Real Time Rating™ Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 | Interest Rate 5.95 % p.a Fixed up to 19.95% | Comparison Rate* 5.95 % p.a Fixed up to 19.95% | Company | Monthly repayment $912 36 months | Loan term 1.5 years to 7 years | Total repayments $32,831 | Go to site | ![]() Total repayments for a 3-year, $30,000 loan at 5.95% would be $32,831*. Terms from 1.5-7 years | special Pay no fees over the lifetime of your loan with NOW Finance. T&C’s apply.Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 | Make the most of this unsecured personal loan's competitive interest rate with no fees for extra repayments. | |
Product Personal Loan - Credit Builder Real Time Rating™ | Interest Rate 21.24 % p.a Fixed | Comparison Rate* 28.40 % p.a Fixed up to 28.4% | Company | Monthly repayment $1.1k 36 months | Loan term 1 year to 4 years | Total repayments $40,822 | Go to site | ![]() Total repayments for a 3-year, $30,000 loan at 28.40% would be $40,822*. Terms from 1-4 years | |||
Product Secured Fixed Standard Personal Loan Real Time Rating™ | Interest Rate 7.99 % p.a Fixed | Comparison Rate* 8.62 % p.a Fixed | Company | Monthly repayment $940 36 months | Loan term 1 year to 7 years | Total repayments $33,838 | Go to site | ![]() Total repayments for a 3-year, $30,000 loan at 8.62% would be $33,838*. Terms from 1-7 years | |||
Product Secured Variable Standard Personal Loan Real Time Rating™ | Interest Rate 11.99 % p.a Variable | Comparison Rate* 12.61 % p.a Variable | Company | Monthly repayment $996 36 months | Loan term 1 year to 7 years | Total repayments $35,866 | Go to site | ![]() Total repayments for a 3-year, $30,000 loan at 12.61% would be $35,866*. Terms from 1-7 years |
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Personal loans in Canberra
Canberra is the capital city of Australia and the headquarters of the government. It’s a prosperous city, with higher average incomes and lower unemployment rates than the national average. House prices and rental costs are relatively high, pushing up the cost of living. However, Canberrans have access to a thriving financial sector when they need assistance with purchasing property or wish to take out personal loans.
How do personal loans in Canberra work?
Financial institutions, including banks and non-bank lenders, offer a range of personal loans in Canberra, so there are plenty of options available. If you have a project you need to borrow money for, a personal loan may be the ideal solution, as they can be used for a variety of purposes.
Your first step should be to check the policies of various lenders to identify those that will make suitable loans available to you. Next, compare the various features that suitable loans have, as well as any restrictions on them and extra charges that may be made.
Why do people use personal loans in Canberra?
Canberrans apply for personal loans for specific purchases, such as buying a new car, motorbike or caravan, or to support students at university. Alternatively, they are sometimes used for large bills, unforeseen costs and large, one-off expenses, such as:
- Consolidating debt;
- Medical treatment;
- Financial emergencies;
- Vital home repairs.
What are the main features?
A basic personal loan consists of borrowing an amount on which your lender charges interest and then repaying it at regular intervals over an agreed period. Additional features can include other financial products, overpayment and redraw facilities, and a line of credit. It’s still possible to get a personal loan from certain lenders if you’re deemed a higher risk applicant because you have a poor credit rating or you’re self-employed, for example.
Linked products can include transaction accounts and credit cards. Your lender may also offer a feature that enables you to make occasional extra payments and redraw funds if you later find that you need them. Overpayment is one way of paying off your loan early, thus saving yourself money on interest rates, while a line of credit allows you to borrow what you need initially, and then start to repay it, but with the option of borrowing again, up to an agreed limit, should you need to.
What are the pros and cons of personal loans in Canberra?
A personal loan can help you to make major purchases and pay unforeseen costs by providing extra funds. Terms and conditions can be flexible, and can be negotiated with lenders to better suit your circumstances.
With a basic personal loan, there aren’t usually any extra fees involved, but some lenders charge for extra features and place restrictions on how much and how often you can overpay or redraw. Make sure your personal loan repayments are affordable and always compare the features and options available to identify the best choice for your circumstances.
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Mark Bristow
Personal Finance Editor
Mark Bristow is RateCity's Home & Personal Finances Editor, and an experienced analyst, researcher, and producer. Focused primarily on Australian mortgage and home loan expertise, he has been a journalist and writer in the financial space for over ten years, previously researching and writing commercial real estate at CoreLogic. In the years since, Mark has worked for the Winning Group, Expedia, and has seen articles published at Lifehacker and Business Insider.
Frequently asked questions
Can you refinance a $5000 personal loan?
Much like home loans, many personal loans can be refinanced. This is where you replace your current personal loan with another personal loan, often from another lender and at a lower interest rate. Switching personal loans may let you enjoy more affordable repayments, or useful features and benefits.
If you have a $5000 personal loan as well as other debts, you may be able to use a debt consolidations personal loan to combine these debts into one, potentially saving you money and simplifying your repayments.
Do student personal loans require security?
While some personal loans can be secured by the value of an asset, such as a car or equity in a property, student personal loans are often unsecured, which typically have higher interest rates.
Some lenders also offer guarantor personal loans to students. These loans have lower interest rates, as a guarantor (usually a relative of the borrower with good credit) will fully or partially guarantee the loan, taking on the financial responsibility if the borrower defaults.
How much can you borrow with a bad credit personal loan?
Borrowers who take out bad credit personal loans don’t just pay higher interest rates than on regular personal loans, they also get loaned less money. Each lender has its own policies and loan limits, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.
What is a bad credit personal loan?
A bad credit personal loan is a personal loan designed for somebody with a bad credit history. This type of personal loan has higher interest rates than regular personal loans as well as higher fees.
Can I get a no credit check personal loan?
Personal loans with no credit checks are available and called ‘payday loans’. These are sometimes used as short-term solutions for cash-strapped Australians. They often carry higher interest rates and fees than regular personal loans, and individuals risk putting themselves into a worsened cycle of debt.
What are the pros and cons of personal loans?
The advantages of personal loans are that they’re easier to obtain than mortgages and usually have lower interest rates than credit cards.
One disadvantage with personal loans is that you have to go through a formal application process, unlike when you borrow money on your credit card. Another disadvantage is that you’ll be charged a higher interest rate than if you borrowed the money as part of a mortgage.
What are the pros and cons of bad credit personal loans?
In some instances, bad credit personal loans can help people with bad credit history to consolidate their debts, which can help make it easier for them to clear those debts. This is because the borrower might be able to consolidate several debts with higher interest rates (such as credit card loans) into one single debt with a lower interest rate and potentially fewer fees.
However, this strategy can backfire if the borrower spends the loaned funds instead of using it to repay the new loan. Another disadvantage of bad credit personal loans is that they have higher interest rates than regular personal loans.
What is the average interest rate on personal loans for single parents?
Like other types of personal loans, the average interest rate for personal loans for single parents changes regularly, as lenders add, remove, and vary their loan offers. The interest rate you’ll receive may depend on a range of different factors, including your loan amount, loan term, security, income, and credit score.
What is an unsecured bad credit personal loan?
A bad credit personal loan is ‘unsecured’ when the borrower doesn’t offer up an asset, such as a car or jewellery, as collateral or security. Lenders generally charge higher interest rates on unsecured loans than secured loans.
Are there low doc personal loans?
Self-employed borrowers may be eligible for low doc personal loans, which require less documentation in their application process than many other personal loan options.
It’s important to remember that though low doc personal loans may require less paperwork, you may need to provide additional security, or pay a higher interest rate.
Can unemployed single parents get personal loans?
It can be more difficult for unemployed borrowers to successfully apply for a personal loan. Most lenders require borrowers to have a regular income available to cover the cost of loan repayments.
If you’re self-employed, or if less than half of your income comes from Centrelink, you may not be eligible for some personal loan options. Consider contacting the lender before applying.
What do single parents need for a personal loan application?
Much like applying for other personal loans, applying for personal loans for single parents will likely require the following:
- Proof of identity
- Proof of residence
- Proof of income
- Details of assets (e.g. car, home)
- Details of liabilities (e.g. credit cards, other loans)
- Loan amount
- Loan term
Should I get a fixed or variable personal loan?
Fixed personal loans keep your interest rate the same for the full loan term, while interest rates on variable personal loans may be raised or lowered during your loan term.
A fixed rate personal loan keeps your repayments consistent, which can help keep your budgeting consistent. You won't have to worry about higher repayments if your rates were to rise. However, on a fixed loan you’ll also potentially miss out on more affordable repayments if variable rates were to fall.
Can single mothers get personal loans online?
Many lenders offer online applications for personal loans, which can be convenient for borrowers who have busy lives. If you’re not confident your personal loan application will be approved, you may want to consider contacting the lender by email, live chat, phone, or by visiting a branch, to discuss your situation before applying.
Which lenders offer bad credit personal loans?
Several dozen lenders offer bad credit personal loans in Australia. These are generally smaller lenders that aren’t household names.
What can I use a bad credit personal loan for?
Generally, bad credit personal loans can be used for the following purposes:
- Debt consolidation
- Paying bills
- Buying vehicles
- Moving expenses
- Holidays
- Weddings
- Education
Some lenders restrict how their bad credit personal loans can be used as part of their commitment to responsible lending – be sure to check before applying.
Where can I get a personal loan?
The Australian personal loans market contains dozens of lenders offering several hundred different products. Personal loans are available through a range of institutions, including:
- The big four banks (ANZ, Commonwealth Bank, NAB and Westpac)
- Smaller banks (such as Bank of Queensland, Bendigo Bank and MyState)
- Mutual banks (such as Heritage Bank, Greater Bank and Newcastle Permanent)
- Credit unions (such as People’s Choice Credit Union, BCU and Community First Credit Union)
- Non-bank lenders (such as Pepper Money, Liberty and RACV)
- Peer-to-peer marketplaces (such as Harmoney, SocietyOne and RateSetter)
There are three main ways to access personal loans. You can go through a comparison website, such as RateCity. You can use a finance broker. Or you can directly contact the lender.
What is a personal loan?
A personal loan sits somewhere between a home loan and a credit card loan. Unlike with a credit card, you need to sign a formal contract to access a personal loan. However, the process is easier and faster than taking out a mortgage.
Loan sizes typically range from several hundred dollars to tens of thousands of dollars, while loan terms usually run from one to five years. Personal loans are generally used to consolidate debts, pay emergency bills or fund one-off expenses like holidays.
Are there emergency loans with no credit checks?
While many personal loans require a credit check as part of the application process, some personal loans and payday loans have no credit checks, which may appeal to some borrowers with a bad credit score.
Keep in mind that even if a loan is available with no credit check, the lender will likely want to confirm that you can afford the repayments on your current income.
Does refinancing a personal loan hurt your credit score?
Personal loan refinancing means taking out a new loan with more desirable terms in order to access a more competitive interest rate, longer loan term, better features, or even to consolidate debts.
In some situations, refinancing a personal loan can improve your credit score, while in others, it may have a negative impact. If you refinance multiple loans by consolidating these into one loan, it could improve your credit score as you’ll have only one outstanding debt liability. Your credit may also improve if you consistently pay the instalments on time.
However, applying to refinance with multiple lenders could negatively affect your credit if your applications are rejected. Also, if you delay or default the repayment, your credit score reduces.