The month of June is usually a busy one for the financially savvy, as many people scramble to sort out their personal finances before the end of the financial year.
This year, it may prove to be even busier as Australia enters a recession for the first time in 29 years.
If you’re considering borrowing funds to get you through these times, keep in mind that personal loans can be a substantial financial commitment. In some cases, it’s a commitment that can stay with you for more than a few years.
If a personal loan is right for you at this time, do your research and understand what it might mean for you to be in debt for the next few years. There are plenty of personal loans on the market, so weigh up all your options before you commit to one loan.
To help you compare, RateCity has put together some of the top-rated personal loans for June 2020.
(Rankings are correct at the time of publishing. Please note lenders may trade places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.)
Best excellent credit personal loans
Company | Product VIP Personal Loan (existing HL customer) Real Time Rating™ | Interest Rate  6.44 % p.a Variable | Comparison Rate* 6.68 % p.a Variable | Monthly repayment $612 36 months | Real Time Rating™ | Go to site |  Total repayments for a 3-year, $20,000 loan at 6.68% would be $22,048*. Terms from - years | |
Company | Product Fair Rate Personal Loan Diamond Real Time Rating™ Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 | Interest Rate 5.99 % p.a Variable | Comparison Rate* 6.20 % p.a Variable | Monthly repayment $608 36 months | Real Time Rating™ | Go to site | Total repayments for a 3-year, $20,000 loan at 6.20% would be $21,901*. Terms from - years | Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 |
Company | Product Low Rate Personal Loan Real Time Rating™ Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 | Interest Rate 5.79 % p.a Variable | Comparison Rate* 5.92 % p.a Variable | Monthly repayment $607 36 months | Real Time Rating™ | Go to site | Total repayments for a 3-year, $20,000 loan at 5.92% would be $21,835*. Terms from - years | Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 |
Company | Product Equity Plus Personal Loan Unsecured Real Time Rating™ Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 | Interest Rate 5.09 % p.a Variable | Comparison Rate* 5.69 % p.a Variable | Monthly repayment $600 36 months | Real Time Rating™ | Go to site | Total repayments for a 3-year, $20,000 loan at 5.69% would be $21,608*. Terms from - years | Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 |
Company | Product Personal Loan Real Time Rating™ Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 | Interest Rate 5.85 % p.a Variable up to 12.4% | Comparison Rate* 6.70 % p.a Variable up to 13.21% | Monthly repayment $607 36 months | Real Time Rating™ | Go to site | Total repayments for a 3-year, $20,000 loan at 6.70% would be $21,855*. Terms from - years | Winner of Excellent Credit Personal Loans, RateCity Gold Awards 2022 |
Best green personal loans
Company | Product Green Personal Loan Real Time Rating™ | Interest Rate 6.75 % p.a Variable | Comparison Rate* 6.78 % p.a Variable | Monthly repayment $615 36 months | Real Time Rating™ | Go to site | Total repayments for a 3-year, $20,000 loan at 6.78% would be $22,149*. Terms from - years | |
Company | Product Green Loan Real Time Rating™ | Interest Rate 5.79 % p.a Fixed | Comparison Rate* 5.92 % p.a Fixed | Monthly repayment $607 36 months | Real Time Rating™ | Go to site | Total repayments for a 3-year, $20,000 loan at 5.92% would be $21,835*. Terms from - years | |
Company | Product Green Loan Real Time Rating™ | Interest Rate 5.79 % p.a Fixed | Comparison Rate* 5.92 % p.a Fixed | Monthly repayment $607 36 months | Real Time Rating™ | Go to site | Total repayments for a 3-year, $20,000 loan at 5.92% would be $21,835*. Terms from - years | |
Company | Product Green Loan Real Time Rating™ | Interest Rate 4.15 % p.a Variable | Comparison Rate* 5.09 % p.a Variable | Monthly repayment $592 36 months | Real Time Rating™ | Go to site | Total repayments for a 3-year, $20,000 loan at 5.09% would be $21,305*. Terms from - years | |
Company | Product Solar Loan Real Time Rating™ | Interest Rate 5.99 % p.a Variable | Comparison Rate* 6.26 % p.a Variable | Monthly repayment $608 36 months | Real Time Rating™ | Go to site | Total repayments for a 3-year, $20,000 loan at 6.26% would be $21,901*. Terms from - years |
Where to find up-to-date personal loan information
If you’re looking to stay up-to-date personal loan information, RateCity can help. Keep your finger on the pulse with RateCity’s Personal Loans Leaderboards, where personal loans are tracked and rated daily.
