- 469
- Personal and car loans compared
- 141
- Lenders
- 10.06%
- Typical starting comparison rate (personal loans)
- 8.33%
- Typical starting comparison rate (car loans)
- 4%
- Personal loans with no establishment fee
- $199
- Typical establishment fee (personal loans)
These figures cover the loans listed on Finty, not the whole market. Rates are advertised starting rates: the rate you're offered depends on your circumstances. Car loans are counted separately, because carmakers' promotional rates would distort the personal loan figures.
How the market spreads out
Each bar shows the range from lowest to highest. The shaded band is where the middle half of loans sit, and the line is the typical figure.
The shaded band covers the middle half of loans, and the line marks the typical figure. A wide band means loans vary a lot; a narrow one means they're much the same.
Secured and unsecured loans
Personal loans, excluding car loans, by whether the loan is secured against an asset.
| Metric | All | Unsecured | Secured |
|---|---|---|---|
| Loans | 203 | 62 | 48 |
| Typical starting comparison rate | 10.06% | 10.86% | 8.57% |
| Typical starting interest rate | 8.99% | 9.64% | 7.99% |
| Typical establishment fee | $199 | $225 | $250 |
| No establishment fee | 4% | 6% | 4% |
| No monthly fee | 7% | 10% | 8% |
| Typical largest loan | $75,000 | $50,000 | $100,000 |
| Typical longest term | 7 years | 7 years | 7 years |
Fixed and variable rates
Personal loans, excluding car loans, by rate type. Some loans come in both.
| Metric | All | Fixed | Variable |
|---|---|---|---|
| Loans | 203 | 88 | 100 |
| Typical starting comparison rate | 10.06% | 8.71% | 10.93% |
| Typical starting interest rate | 8.99% | 8.25% | 9.99% |
| Typical establishment fee | $199 | $250 | $175 |
| No establishment fee | 4% | 8% | 2% |
| No monthly fee | 7% | 11% | 4% |
| Typical largest loan | $75,000 | $75,000 | $60,000 |
| Typical longest term | 7 years | 7 years | 7 years |
Big four banks and other lenders
Personal loans, excluding car loans, from ANZ, CommBank, NAB and Westpac next to every other lender. The big banks' other brands, such as St.George, count as other lenders.
| Metric | All | Big four | Other lenders |
|---|---|---|---|
| Loans | 203 | 7 | 196 |
| Typical starting comparison rate | 10.06% | 8.41% | 10.13% |
| Typical starting interest rate | 8.99% | 7.49% | 9.19% |
| Typical establishment fee | $199 | $200 | $199 |
| No establishment fee | 4% | 0% | 4% |
| No monthly fee | 7% | 0% | 8% |
| Typical largest loan | $75,000 | $55,000 | $75,000 |
| Typical longest term | 7 years | 7 years | 7 years |
How starting rates are spread
How many personal loans, excluding car loans, have an advertised starting comparison rate in each band.
- 4% to 6%6 loans
- 6% to 8%31 loans
- 8% to 10%48 loans
- 10% to 12%39 loans
- 12% to 14%26 loans
- 14% to 16%12 loans
- 16% to 18%7 loans
- 18% to 20%0 loans
- 20% to 22%1 loan
- 22% or more3 loans
Fees in detail
What personal loans, excluding car loans, charge to set up, to keep open, to pay off early and for a late repayment.
| Metric | All | Unsecured | Secured |
|---|---|---|---|
| Loans | 203 | 62 | 48 |
| Typical establishment fee | $199 | $225 | $250 |
| No establishment fee | 4% | 6% | 4% |
| Typical monthly fee | $8 | $10 | $8 |
| No monthly fee | 7% | 10% | 8% |
| Early repayment fee | 17% | 19% | 20% |
| Typical late payment fee | $20 | $20 | $25 |
By loan amount and term
Personal loans, excluding car loans, that lend $10,000, $20,000 and $50,000, and how many offer 3, 5 and 7-year terms.
| Metric | $10,000 | $20,000 | $50,000 |
|---|---|---|---|
| Loans | 118 | 124 | 109 |
| Typical starting comparison rate | 9.84% | 9.39% | 8.73% |
| Typical establishment fee | $200 | $200 | $238 |
| Offer a 3-year term | 97% | 97% | 97% |
| Offer a 5-year term | 93% | 95% | 96% |
| Offer a 7-year term | 75% | 78% | 81% |
Car loans
Loans for buying a car, including carmakers' own finance companies.
| Metric | All car loans | Secured | Unsecured |
|---|---|---|---|
| Loans | 227 | 156 | 6 |
| Typical starting comparison rate | 8.33% | 7.99% | 9.35% |
| Typical starting interest rate | 7.85% | 7.85% | 8.54% |
| Typical establishment fee | $280 | $258 | $0 |
| No establishment fee | 12% | 5% | 83% |
| No monthly fee | 15% | 13% | 0% |
| Typical largest loan | $111,000 | $130,000 | — |
| Typical longest term | 7 years | 7 years | 1 year |