fully drawn 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. - Data last updated on 19 Jun 2018

Now showing 1 - 25 of 25 fully drawn 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
9.78%
fixed
Comparison Rate
11.18%*
Monthly Repayment
$634
Upfront Fee
$350
Compare
Promoted
Unsecured Personal Loan (Excellent Credit)
Advertised Rate
From
6.99%
fixed
Comparison Rate
7.69%
Monthly Repayment
$594
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
$652
Upfront Fee
$250
Compare
Low Rate Secured Loan
Advertised Rate
5.14%
variable
Comparison Rate
7.61%
Monthly Repayment
$568
Upfront Fee
$200
Compare
Unsecured Loan (Excellent Credit)
Advertised Rate
From
7.65%
fixed
Comparison Rate
7.65%
Monthly Repayment
$603
Upfront Fee
$0
Compare
Discounted Personal Loan
Advertised Rate
7.99%
fixed
Comparison Rate
8.35%
Monthly Repayment
$608
Upfront Fee
$250
Compare
Secured Personal Loan (Car < 2 Years)
Advertised Rate
7.99%
variable
Comparison Rate
8.97%
Monthly Repayment
$608
Upfront Fee
$200
Compare
Unsecured Personal Loan - Diamond (Excellent Credit)
Advertised Rate
8.50%
fixed
Comparison Rate
9.36%
Monthly Repayment
$615
Upfront Fee
$595
Compare
Excellent Credit Personal Loan - Fixed Repayments (Unsecured)
Advertised Rate
From
8.35%
fixed
Comparison Rate
9.61%
Monthly Repayment
$613
Upfront Fee
3%
of loan amount
Compare
Personal Loan Fixed Rate
Advertised Rate
From
9.50%
fixed
Comparison Rate
10.06%
Monthly Repayment
$630
Upfront Fee
$150
Compare
Secured Personal Loan (Car 2-7 Years)
Advertised Rate
9.49%
variable
Comparison Rate
10.46%
Monthly Repayment
$630
Upfront Fee
$200
Compare
Secured Fixed Standard Personal Loan
Advertised Rate
10.50%
fixed
Comparison Rate
11.13%
Monthly Repayment
$645
Upfront Fee
$200
Compare
Unsecured Personal Loan (NSW, ACT & QLD only)
Advertised Rate
11.45%
fixed
Comparison Rate
11.85%
Monthly Repayment
$659
Upfront Fee
$275
Compare
Unsecured Personal Loan
Advertised Rate
11.89%
variable
Comparison Rate
11.89%
Monthly Repayment
$666
Upfront Fee
$0
Compare
Unsecured Personal Loan Fixed
Advertised Rate
11.99%
fixed
Comparison Rate
11.99%
Monthly Repayment
$667
Upfront Fee
$0
Compare
Unsecured Loan (Good Credit)
Advertised Rate
From
10.99%
fixed
Comparison Rate
12.09%
Monthly Repayment
$652
Upfront Fee
3%
of loan amount
Compare
Grade A SocietyOne Loan Fixed
Advertised Rate
From
11.50%
fixed
Comparison Rate
13.34%
Monthly Repayment
$660
Upfront Fee
4%
of loan amount
Compare
Secured Variable Standard Personal Loan
Advertised Rate
12.99%
variable
Comparison Rate
13.61%
Monthly Repayment
$682
Upfront Fee
$200
Compare
Unsecured Personal Loan
Advertised Rate
12.99%
fixed
Comparison Rate
14.14%
Monthly Repayment
$682
Upfront Fee
$250
Compare
Secured Personal Loan
Advertised Rate
From
12.99%
fixed
Comparison Rate
14.20%
Monthly Repayment
$682
Upfront Fee
$250
Compare
Unsecured Personal Loan
Advertised Rate
13.99%
fixed
Comparison Rate
14.37%
Monthly Repayment
$698
Upfront Fee
$250
Compare
Grade B SocietyOne Loan Fixed
Advertised Rate
From
12.55%
fixed
Comparison Rate
14.61%
Monthly Repayment
$676
Upfront Fee
4.5%
of loan amount
Compare
Unsecured Personal Loan
Advertised Rate
From
13.99%
fixed
Comparison Rate
15.19%
Monthly Repayment
$698
Upfront Fee
$250
Compare
Unsecured Loan (Average Credit)
Advertised Rate
From
14.00%
fixed
Comparison Rate
16.09%
Monthly Repayment
$698
Upfront Fee
4.5%
of loan amount
Compare
Unsecured Personal Loan
Advertised Rate
12.99%
variable
Comparison Rate
16.42%
Monthly Repayment
$682
Upfront Fee
$200
Compare
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Fully drawn loans 

What are fully drawn loans? 

Fully drawn loans, also known as fully drawn advances, are loans aimed at businesses in Australia. They are appropriate for many types of businesses, including partnerships and sole proprietorships. A fully drawn loan can be used for any purpose by a business, but the lender will carry out a due diligence examination of the potential borrower's financial circumstances to ensure there as few risks as possible in terms of the loan being repaid.

Why do people use fully drawn loans? 

Running a business is a tough prospect and it's often the case that you don't have sufficient money at a particular time to buy essential equipment, such as new computers or vehicles. You may want to expand the business, so as well as needing more space, and the increase in cost that implies, you may also want to increase the number of employees you have. Taking out a fully drawn loan will enable you to develop your business in a way that increases your asset base and could provide more workers to expand productivity and thus become more profitable.

What are the main features of fully drawn loans?

This type of loan enables you to borrow a fixed amount of money according to your business needs. That money will be repaid on a regular basis, usually monthly, with a schedule predetermined by the lender that will then be agreed between you. It's often the case that you and the lender will work together so that loan payments are structured to suit your business's cash flow. Interest will be charged on the loan monthly or quarterly, though you may be able to negotiate semi-annual or even annual interest charges.

A loan could also be interest only so that regular payments are smaller and the principal is repaid when the term of the loan ends. For this, a structure needs to be put into place to ensure there is sufficient money to pay off that principal sum. 

What are the pros and cons of fully drawn loans? 

Fully drawn loans offer businesses access to funds they may not be able to access in other ways. They can offer a significant boost to your business, and as an entrepreneur you are always likely to be seeking to expand. These types of loan are aimed at helping you do that. 

You should always have a sound business plan to present to your lender and keep a keen eye on interest rates. If you take a fixed rate you get stable repayments, however, if interest rates go down you may want to renegotiate and that may involve a penalty for early repayment of an existing loan. If you go for a variable rate then repayments can go up or down depending on where market interest rates go, so you should weigh up whether you could relatively easily afford to pay higher instalments should that be necessary. A good budget should factor these variables in before you make a final decision.

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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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