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Warning to Borrowers: Unsecured personal loans
The following information is specific to unsecured personal loans.
Minimum period for repayment 6 months, maximum period 5 years.
The maximum Annual Percentage Rate (APR) including all fees and charges is 36% for small, shorter term loans. Longer term loans for larger amounts may be available for an APR of 15% or lower.
For example, a $1000 loan over 6 months could require a fortnightly repayment amount of as much as $96.92 including total costs (interest fees and charges) of $260 in addition to the amount that you borrowed.
Secured loans such as home loans, car loans, etc. are usually a much cheaper finance option. The interest rate will be different depending on what you are financing. For example, home loan interest rates will be typically lower than for a car, boat, caravan or truck loan.

Finance Articles

How to Improve Your Chances of Getting a Business Loan Approved
How to Improve Your Chances of Getting a Business Loan Approved
Welcome, Australian entrepreneurs and business owners! Whether you're just setting down the foundation of a startup or steering a well-established enterprise, access to capital remains a critical ingredient for business growth and survival. In the bustling economy of Australia, a well-structured business loan can be the catalyst that propels your business forward, aiding in expansion, the acquisition of new equipment, or simply ensuring smooth operational cash flow during lean periods. - read more
Essential Tips for Choosing the Right Personal Loan in Australia
Essential Tips for Choosing the Right Personal Loan in Australia
Personal loans are a type of financing option that individuals can use to fund various personal expenses. Unlike mortgages or car loans, they aren't earmarked for a specific purpose, giving borrowers more flexibility in how they use the funds. These loans are usually unsecured, which means you don’t have to provide collateral to borrow money. - read more
How Your Credit Rating Impacts Your Loan Options: What You Need to Know
How Your Credit Rating Impacts Your Loan Options: What You Need to Know
A credit rating is essentially a numerical representation of your financial trustworthiness. It's like a report card for your creditworthiness, where higher scores indicate better financial habits. Lenders and financial institutions scrutinize this score when you apply for credit, serving as a primary factor in approving or denying loan applications. - read more

Finance News

APRA's New Cap on High Debt-to-Income Home Loans Explained
APRA's New Cap on High Debt-to-Income Home Loans Explained
02 Mar 2026: Paige Estritori
The Australian Prudential Regulation Authority (APRA) has announced a significant policy change aimed at mitigating risks in the housing market. Effective February 2026, APRA will impose a cap on high debt-to-income (DTI) home loans, limiting such loans to 20% of new home lending. This measure applies to both owner-occupiers and investors, with an exemption for new housing developments. - read more
Australia's Household Debt: A Global Perspective
Australia's Household Debt: A Global Perspective
02 Mar 2026: Paige Estritori
Recent data reveals that Australia's household debt has escalated to 182% of disposable income, positioning the nation as having the second-highest household debt globally. This significant figure underscores the growing reliance on borrowing among Australian households, particularly in the realm of mortgage lending. - read more
RBA's Advisory on Prudent Lending in a Changing Economic Landscape
RBA's Advisory on Prudent Lending in a Changing Economic Landscape
02 Mar 2026: Paige Estritori
The Reserve Bank of Australia (RBA) has issued a cautionary note to financial institutions, advising them to maintain prudent lending practices despite improvements in borrower financial health. Recent data indicates that the proportion of mortgage holders spending more than they earn has decreased to approximately 3%, down from 5% in mid-2024. This improvement is attributed to factors such as tax cuts and easing inflation. - read more

Free Loan Eligibility Assessment

Loan Amount:
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All quotes are provided free and without obligation by a specialist from our national broker referral panel. See our privacy statement for more details.


Knowledgebase
Leverage:
The use of borrowed funds to increase the potential return of an investment, but which also increases potential risk.