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Some of the top-rated personal loans in July 2024


If the Reserve Bank of Australia (RBA) considers hiking the cash rate before the end of the year, how could your personal loans be affected? When your personal financial situation is changing, it’s important to carefully compare personal loans to choose an option that better matches your needs.
The latest Lending Indicators from the Australian Bureau of Statistics (ABS) show that the value of new loan commitments for total fixed term personal finance fell 0.7% to $2.6 billion in May 2024, but was 12.7% higher compared to a year ago. This follows a 0.9% rise in April 2024.
Many Australian households may be under the financial pump, with the Sydney Morning Herald reporting that the National Debt Helpline has been fielding an increasing number of calls from debt-stressed Australians since the start of the rate hikes in 2022.
This situation could be exacerbated if inflation remains stubbornly high, as this could lead the RBA to hike the national cash rate for the 14th time since May 2022. This could increase the cost of loan repayments for the nation’s borrowers, including mortgage holders, potentially putting more households under financial stress. That said, economists from some leading banks are still forecasting that the RBA’s next move will be a cut, though it may take place later in 2025 than previously predicted.
In some cases, a personal loan may be able to help a household manage financial stress, such as when used to help consolidate other debts. But it’s essential to carefully calculate your costs, compare your choices and consider your options before proceeding, to help minimise the risk that you could end up in a worse financial position from where you started.
Looking at the Real Time Ratings™ for various personal loans can help you get a better idea of their overall value. Each star rating combines the loan’s cost and flexibility, and is frequently updated to help ensure improved accuracy. The top-rated personal loans in different categories on the RateCity Personal Loan Leaderboards may also become eligible for the RateCity Gold Awards.
(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.)
Some of the top-rated excellent credit personal loans
The top-rated personal loans today for borrowers with an excellent credit score. Assumes an unsecured $20,000 loan on a 36-month loan term.
6.57%
up to 8.48%
7.19%
up to 13.58%
$614
Australian Credit Licence 488228
Fees & charges apply
- Promoted
- 2024 Award Winner
- 1 to 7 years
- Unsecured
- Fixed Rate
- No ongoing fees
6.89%
up to 19.99%
7.17%
up to 20.31%
$617
Australian Credit Licence 229823
Fees & charges apply

Fixed Rate Personal Loan
- 2024 Award Winner
- 2 to 7 years
- Unsecured
- Fixed Rate
- No ongoing fees
6.45%
up to 26.95%
6.45%
up to 26.95%
$613
Australian Credit Licence 286655
Fees & charges apply

Personal Loan Fixed
- 2024 Award Winner
- 1 to 7 years
- Unsecured
- Fixed Rate
- No ongoing fees
6.45%
up to 26.95%
6.45%
up to 26.95%
$613
Australian Credit Licence 411227
Fees & charges apply

No Fee Joint Personal Loan
- Special
- 1 to 7 years
- Unsecured
- Fixed Rate
- No ongoing fees
5.76%
up to 24.03%
6.55%
up to 24.98%
$606
Australian Credit Licence 474726
Fees & charges apply

Unsecured Personal Loan (Excellent Credit) (Amount > $5000)
- 2024 Award Winner
- 3 to 5 years
- Unsecured
- Fixed Rate
- No ongoing fees
Compare personal loans
6.57%
up to 8.48%
7.19%
up to 13.58%
$920
Australian Credit Licence 488228
Fees & charges apply
- Promoted
- 2024 Award Winner
- 1 to 7 years
- Unsecured
- Fixed Rate
- No ongoing fees
6.57%
6.57%
$920
Australian Credit Licence 449176
Fees & charges apply
- Promoted
- 2024 Award Winner
- 3 to 7 years
- Unsecured
- Fixed Rate
6.45%
up to 26.95%
6.45%
up to 26.95%
$919
Australian Credit Licence 411227
Fees & charges apply
- Promoted
- 2024 Award Winner
- Special
- 1 to 7 years
- Unsecured
- Fixed Rate
6.57%
up to 7.99%
7.19%
up to 13.58%
$920
Australian Credit Licence 488228
Fees & charges apply
- Promoted
- 1 to 7 years
- Secured
- Fixed Rate
- No ongoing fees
6.57%
up to 20.99%
7.19%
up to 21.39%
$920
Australian Credit Licence 488228
Fees & charges apply
- Promoted
- 1 to 7 years
- Unsecured
- Fixed Rate
- No ongoing fees
6.57%
up to 9.49%
7.19%
up to 12.02%
$920
Australian Credit Licence 488228
Fees & charges apply
- Promoted
- 1 to 10 years
- Unsecured
- Fixed Rate
- No ongoing fees
7.99%
up to 11.99%
9.02%
up to 12.36%
$940
Australian Credit Licence 488228
Fees & charges apply
- Promoted
- 1 to 7 years
- Unsecured
- Fixed Rate
- No ongoing fees
9.14%
up to 11.19%
9.50%
up to 12.95%
$956
Australian Credit Licence 488228
Fees & charges apply
- Promoted
- 1 to 7 years
- Unsecured
- Fixed Rate
- No ongoing fees
Product database updated 30 Apr, 2025
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Promoted personal loans

Low Rate Personal Loan Unsecured (Excellent Credit) - $5,000-$75,000
Real Time Rating™
- 2024 Award Winner
- 1 to 7 years
- Unsecured
- Fixed Rate
Interest rate p.a.
6.57%
up to 8.48%
Comparison rate* p.a.
7.19%
up to 13.58%
Australian Credit Licence 488228
Fees & charges apply

Plenti Unsecured Personal Loan (Fixed) (Exceptional Credit)
Real Time Rating™
- 2024 Award Winner
- 3 to 7 years
- Unsecured
- Fixed Rate
Interest rate p.a.
6.57%
Comparison rate* p.a.
6.57%
Australian Credit Licence 449176
Fees & charges apply

No Fee Personal Loan
Real Time Rating™
- 2024 Award Winner
- Special
- 1 to 7 years
- Unsecured
Interest rate p.a.
6.45%
up to 26.95%
Comparison rate* p.a.
6.45%
up to 26.95%
Australian Credit Licence 411227
Fees & charges apply

Low Rate Personal Loan Secured (Excellent Credit) - $5,000-$75,000
Real Time Rating™
- 1 to 7 years
- Secured
- Fixed Rate
- No ongoing fees
Interest rate p.a.
6.57%
up to 7.99%
Comparison rate* p.a.
7.19%
up to 13.58%
Australian Credit Licence 488228
Fees & charges apply
Product data updated on 30 Apr 2025