A personal loan gives you access to funds for something important—whether it’s a holiday, a new car, a caravan, or upgrades around the home. You simply borrow the amount you need and pay it back with interest over a set period, typically between one and seven years.
Securing a competitive personal loan can make a big difference, potentially saving you thousands in interest and fees.
Just like comparing holidays or shopping around for a new car, taking the time to compare personal loans can save you thousands in interest and fees.
Fixed interest rate:
Your repayments stay the same for the entire loan term. This makes budgeting easier because you’ll always know how much is coming out of your account each month.
Variable interest rate:
Your repayments can go up or down depending on changes in interest rates. If rates increase, you’ll pay more; if they drop, your repayments will fall too.
Most variable-rate loans don’t charge an early exit fee, which can be helpful if you plan to pay off the loan ahead of schedule.
Secured loan:
You use an asset—often a car—as security. If you can’t repay the loan, the lender can repossess that asset. Secured loans usually come with lower interest rates.
Unsecured loan:
No asset is required, but interest rates are generally higher. Some lenders may also ask for a guarantor. If you don’t repay the loan, the lender can still take legal action to recover the money.
Having a guarantor may help you access a lower interest rate. But being a guarantor is a serious financial commitment. Make sure both you and the guarantor fully understand the risks.
If you need up to $2,000 quickly for essential expenses—like a fridge, medical needs, or car repairs—look into no-interest loans. They offer fast approval with no interest and no fees.
Before you start shopping for what you want, take the time to compare personal loans. This helps you understand how much you can borrow, what your repayments will look like, and which lender offers the best value.
When comparing loans, look at the following features:
Shows the overall cost of the loan in one figure — it includes the interest rate plus most fees.
Make sure you compare loans using the same loan amount and term so the figures line up.
The percentage you’ll pay on the amount you borrow.
A one-off fee charged when you apply for the loan.
Monthly service fees
Missed payment or default fees
Any additional charges (check the terms and conditions to uncover these)
Check whether the lender allows extra repayments without charging a penalty. This can help you pay off the loan sooner and save on interest.
Some loans are restricted to certain uses, such as buying a car or funding home improvements.
Make sure the loan allows you to use the funds for your intended purpose.
Shorter loan terms often come with lower interest rates.
Longer terms usually mean smaller monthly repayments but higher overall interest costs.
Loanbrix helps provide personal loans for various reasons, including;
We have relationships with all the major financial institutions and are constantly reviewing new and innovative loans to help provide you with the best possible solution.
We have over one hundred 5 Star ratings from clients on our Google business profile. We pride ourselves on customer service, and aim always to provide the best possible experience.
To become a member, individuals must meet specific requirements, including professional qualifications, a good character, and holding an Australian Credit Licence (ACL) or being a Credit Representative.
Contact Us now or Book a Time with a broker to start your journey. Have a chat with LoanBrix about your finance needs in person, over the phone or online, whatever works easiest for you.
Your file is submitted to the lender for approval. Regular updates are provided to you throughout the process.
Your loan is approved! Document signing is arranged and LoanBrix helps coordinate your settlement.
Your loan has settled! Your finance journey continues and the LoanBrix team look forward to working with you both now and in the future.
LoanBrix® is an Authorised Credit Representative 367121 under Australian Credit License 384704. ABN: 91 136 505 845 GCorp Finance Pty Ltd.
