Finding the best personal loan in Australia means looking beyond just the headline rate. Fees, features, approval speed and flexibility all matter. Here are the standout personal loan options for April 2026.
Best Unsecured Personal Loans — April 2026
| Lender | Rate From | Amount | Best feature |
|---|---|---|---|
| OurMoneyMarket | 6.57% | $2k–$75k | Lowest rate, flexible terms |
| Wisr | 6.95% | $5k–$64k | Free credit score, no early exit fee |
| Plenti | 7.39% | $2k–$50k | Fast approval, 30-min decision |
| Harmoney | 5.76% | $2k–$70k | Personalised rates, no early repayment fee |
| NOW Finance | 5.95% | $5k–$50k | No ongoing fees |
What Makes a Good Personal Loan?
The advertised rate is just the starting point. Here’s what else matters:
- Comparison rate — includes fees and charges, gives a true cost picture
- No early exit fees — flexibility to pay off the loan early without penalty
- Flexible repayments — weekly, fortnightly or monthly options
- Extra repayments — ability to pay more when you have spare cash
- No ongoing fees — monthly fees of $10–$15 add $120–$180/yr to your loan cost
- Approval speed — some lenders offer same-day funding
What Affects Your Personal Loan Rate?
Most Australian personal loan lenders now use risk-based pricing — your offered rate depends on your credit score, income stability, existing debts and loan purpose. The difference between the best and worst rates offered to different borrowers can be 10%+ p.a. with the same lender.
- Excellent credit (750+) — typically qualify for the lowest advertised rate
- Good credit (650–750) — mid-range rate, 1–3% above advertised minimum
- Fair credit (500–650) — higher rate, may need to use specialist lenders
- Poor credit (<500) — very limited options, higher rates, may need secured loan
Calculate Personal Loan Repayments
See your exact monthly repayments at any rate and loan amount.
Disclaimer: General information only. Not financial advice. Always consult a licensed professional before making financial decisions.