Australia's Money Matchmaker® - Loan Matchmaking

Compare the best personal loan rates in 60 seconds

Using technology Money Matchmaker® matches you to the lowest rates you qualify for from a pool of top lenders. So you can find the one.

Best match guarantee or $200* we're confident
Best match guarantee or $200* we're confident
Australia's Money Matchmaker matching you with your best loans across multiple lenders
Money Matchmaker® is full of data, lender rules and a constantly improving algorithm, to help you find the lender and money that you're looking for.

Money Matchmaker® promises

1
Personal loan rates from 11 lenders in 60 seconds with Money Matchmaker
Real rates, not click bait

Compare only loan rates that you qualify for with your answers matched to lender rules.

2
Money Matchmaker puts you in control of your loan choices
You're in control

See all your options. Get the facts. Choose the loan that works best for you.

3
Money Matchmaker saves you time looking for your loan
Save time

All the research, analysis and shopping around with lenders is compiled for you.

4
Money Matchmaker is 100% free to use
100% free

No broker fees, ads, sponsored rates. Lenders get charged for the service if you take a loan.

5
Money Matchmaker shows you personal loan rates unique to you
No risk

Matching doesn't impact your credit score, at all. And there are no phone calls.

6
Money Matchmaker stops you overpaying on your loans
Facts checked

Using industry leading credit score and bank statement services to accurately match you.

Australia's Money Matchmaker matching you with your best loans across multiple lenders
Money Matchmaker® is so sure they can find your best match, they offer a $200 money back guarantee.

How Money Matchmaker® works

Give Money Matchmaker® a try

GET MATCHED

Money Matchmaker®'s different

Money Matchmaker® works with you and for you.

  • Rate comparison sites only show you low risk rates hardly anyone qualifies for. Money Matchmaker® only shows you pre-qualified rates that match your answers.
  • A broker can add up to $1000 to your loan for their service. Money Matchmaker® charges the lender only.
  • Applying for rates with each lender can affect your credit score. Money Matchmaker®'s credit check leaves your score intact.
Money Matchmaker

Meet your potential personal loan matches

Meet Plenti
  • No Early Repayment Fees
  • No Monthly Fees
  • Get Funds 24 Hours From Approval
Meet OurMoneyMarket
  • No extra repayment or early exit fees
  • Funding approved in 24 hours
  • Up to $75,000 loan amount
Meet Society One
  • No ongoing fees
  • No monthly fees
  • No Deposit Required
Meet Now Finance
  • Get a guaranteed, personalised rate in 2 minutes
  • Apply online in under 10 minutes
  • Weekly and fortnightly repayments
Meet Fair Go
  • Build your credit score by making timely repayments
  • Once approved, loans are funded in minutes
  • Flexible repayments; weekly, fortnightly, monthly options
Meet Wisr
  • Same day decisioning
  • No admin, early repayment or "risk" fees
  • Support from real people
Meet Finance One
  • Pay your loan out early with no fees
  • Change payment dates and frequency at any time
  • Make extra repayments at any time
Meet Jacaranda
  • Apply in under 8 minutes
  • Once approved, cash transferred in 60 seconds
  • No early termination fees

Get matched in 60 seconds

GET MATCHED

How do you get the best personal loan interest rates?

Written by

Shaun McGowan

The rates you’ll see advertised are typically available to people with the best profile (generally those with high-paying jobs, have had credit before and an excellent credit score), not the majority of those applying.

For everyone else, the rate offered by lenders will vary based on your risk profile.

Lowest personal loan interest rates in Australia

LenderInterest RateComparison RateFeesLoan AmountLoan TermCheck Your Rate
Society One Logo

Minimum: 6.45% Maximum: 20.49%

Minimum: 6.45% Maximum: 21.43%

Establishment Fee: 3% Risk Fee: $0 Monthly Fee: $0 PPSR Fee: $0

Minimum: $5,000 Maximum: $50,000

Minimum: 2 year Maximum: 7 years

check your rateright arrow
Wisr Logo

Minimum: 6.49% Maximum: 20.95%

Minimum: 7.31% Maximum: 20.89%

Establishment Fee: $595 Risk Fee: $0 Monthly Fee: $0 PPSR Fee: $0

Minimum: $5,000 Maximum: $63,000

Minimum: 3 year Maximum: 7 years

check your rateright arrow
Now Finance Logo

Minimum: 5.95% Maximum: 17.95%

Minimum: 5.95% Maximum: 17.95%

Establishment Fee: $0 Risk Fee: $0 Monthly Fee: $0 PPSR Fee: $0

Minimum: $5,000 Maximum: $40,000

Minimum: 18 months Maximum: 7 years

check your rateright arrow
Plenti Logo

Minimum: 6.39% (min) Maximum: 21.99% (max)

Minimum: 6.39% (min) Maximum: 22.79% (max)

Establishment Fee: $0-$99 Risk Fee: $0 Monthly Fee: $0 PPSR Fee: $0

Minimum: $2,000 Maximum: $100,000

Minimum: 1 year Maximum: 7 years

check your rateright arrow
FairGo Finance Logo

Minimum: 15.92% Maximum: 29.90%

Minimum: 21.65% Maximum: 73.06%

Establishment Fee: $0-$662 Risk Fee: $0 Monthly Fee: $0-$80 PPSR Fee: $0

Minimum: $2,250 Maximum: $10,000

Minimum: 6 months Maximum: 3 years

check your rateright arrow

See More

Each lender has their own matrix for risk profiles, but they all look at these common things

How is your risk profile determined?

  • Loan amount
  • Reason for loan
  • Credit Score
  • Income
  • Surplus
  • Age
  • Residency Status
  • Relationship status
  • Dependants
  • Employment information
  • Living arrangements
  • Any recent negative financial habits
  • Vehicle information

Do all lenders assess risk differently?

If a lender finds you a high-risk borrower, the best-case scenario is that they may offer you a higher interest rate.

But risk appetite varies between lenders; while one lender may be comfortable accepting your application, another may decline you.

A secured loan, where you put your car or house as security, is low-risk lending. If you default on your loan, the lender can take that security and sell it to recoup their losses. Low-risk lending will have lower fees and lower interest rates (which means you’ll pay less overall).

If the loan is secured by an asset of lower value or not secured at all, the risk is much higher. High-risk lending will have higher fees and higher interest rates (which means you’ll pay more than you might need to).

Applying at each lender is risky too as it actually negatively affects your credit score with each application. So we recommend using our Money Matchmaker ™ which will show results for 11 lenders without affecting your credit score.

How lenders determine interest rates

What lenders are looking for

Lenders love boring, or should we say, consistency!

They love it if you've had the same job forever and have been at the same house since you first left home.

Here's an example of how your employment history can influence your interest rates, the stronger the lower the rate, the weaker the higher.

employment history applicant

How lenders view credit history

Here is how your credit history can influence your interest rates. The stronger the lower the rate, the weaker the higher.

credit history applicant

Find the best deal on personal loans

FIND YOUR LOAN

How do you really know you’re getting the best deal?

A few things will let you know:

  • Understanding what a comparison rate is telling you (see section below)
  • Compare loans, details vary from lender to lender so make sure you understand what you’re looking for. Read more about comparing personal loans here.
  • Read those terms and conditions so you understand any fees or penalties look for: Late payment fees Break fees or early termination fees Stamp duty and on-road costs Referral fees or brokerage fees

Comparison Rates

When comparing personal loan offers, use the comparison rate so you are accounting for all fees and potential charges. If you use our Money Matchmaker™ to compare, the comparison rate will be listed clearly on the results screen.

Not included in the comparison rate are Variable fees - such as late-payment or dishonour fees.

Understand what a comparison rate is showing you

Fixed interest rate personal loans

Pros

  • Same interest rate for their entire term, or a set portion of the term.
  • You know that your repayments will stay the same which makes budgeting easier
  • You’re also protected against interest rate increases.
  • Often lower interest rates

Cons

  • You may be charged fees if you make extra repayments,
  • You may be charged a break fee if you pay your loan off earlier
  • If market interest rates decrease, yours will stay the same and you may miss out on savings
  • Fixed interest rates tend to have shorter loan terms.

Variable interest rate personal loans

Pros

  • Variable interest rates increase or decrease in relation to the market
  • Make extra repayments or repaying the loan early without incurring fees

Cons

  • Variable interest rates increase or decrease in relation to the market,
  • Your repayments could change at any time and, if market interest rates increase, you could end up paying more interest.

The right personal loan can save you $1,000s

FIND YOUR CAR LOAN

*Information about comparison rates Comparison rates are designed to allow borrowers to understand the true cost of a loan by taking into account fees and charges, the loan amount and the term of the loan. The comparison rate is based on an unsecured fixed rate personal loan of $10,000 over 3 years. WARNING: Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.

About the Author

Shaun McGowan from money.com.au

Shaun

McGowan

Shaun McGowan

Shaun is the founder of Money.com.au and is determined to help people pay as little as possible for financial products. Through education and building world class technology. Previously Shaun co-founded CarLoans.com.au and Lend.

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Disclaimer

Money Pty Ltd (trading as Money.com.au) provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. Money.com.au does not compare every Lender in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. When you apply for a credit product via the Money.com.au website, you are not applying with us, you are applying directly with a Lender Partner. Before entering into any credit product from one of our Lender Partners, you should confirm the rates and product information with the Lender. All information on this website is general advice only and does not take into account your objectives, financial situation or needs. You should consider whether this advice is right for you and we encourage you to seek independent financial advice.