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Australia’s best personal loans for June 2020

Australia’s best personal loans for June 2020

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™

4.26

/ 5
Interest Rate

6.44

% p.a

Variable

Comparison Rate*

6.68

% p.a

Variable

Monthly repayment

$612

36 months

Real Time Rating™

4.26

/ 5
Go to site
Total Repayments icon

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™

4.44

/ 5

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™

4.44

/ 5
Go to site
Total Repayments icon

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™

4.47

/ 5

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™

4.47

/ 5
Go to site
Total Repayments icon

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™

4.47

/ 5

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™

4.47

/ 5
Go to site
Total Repayments icon

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™

4.32

/ 5

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™

4.32

/ 5
Go to site
Total Repayments icon

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

Read more...

Best green personal loans

Company
Product

Green Personal Loan

Real Time Rating™

4.33

/ 5
Interest Rate

6.75

% p.a

Variable

Comparison Rate*

6.78

% p.a

Variable

Monthly repayment

$615

36 months

Real Time Rating™

4.33

/ 5
Go to site
Total Repayments icon

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™

4.47

/ 5
Interest Rate

5.79

% p.a

Fixed

Comparison Rate*

5.92

% p.a

Fixed

Monthly repayment

$607

36 months

Real Time Rating™

4.47

/ 5
Go to site
Total Repayments icon

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™

4.47

/ 5
Interest Rate

5.79

% p.a

Fixed

Comparison Rate*

5.92

% p.a

Fixed

Monthly repayment

$607

36 months

Real Time Rating™

4.47

/ 5
Go to site
Total Repayments icon

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™

4.56

/ 5
Interest Rate

4.15

% p.a

Variable

Comparison Rate*

5.09

% p.a

Variable

Monthly repayment

$592

36 months

Real Time Rating™

4.56

/ 5
Go to site
Total Repayments icon

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™

4.37

/ 5
Interest Rate

5.99

% p.a

Variable

Comparison Rate*

6.26

% p.a

Variable

Monthly repayment

$608

36 months

Real Time Rating™

4.37

/ 5
Go to site
Total Repayments icon

Total repayments for a 3-year, $20,000 loan at 6.26% would be $21,901*. Terms from - years

Read more...

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. 

Did you find this helpful? Why not share this news?

This article was reviewed by Personal Finance Editor Alex Ritchie before it was published as part of RateCity's Fact Check process.

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