Compare Personal Loans VIC 2026 - Best Rates from Top Lenders

Q: What is the best personal loan rate in Victoria in 2026?

The best personal loan rates for Victorian borrowers in 2026 start from 6.99% p.a. (6.99% comparison rate) for secured loans (Plenti) and 9.49% p.a. (10.53% comparison rate) for unsecured loans (Bank Australia). Melbourne-headquartered lenders like ANZ and Bank Australia offer competitive rates. Your actual rate depends on credit score, income and whether the loan is secured. Credit scores above 800 typically access the lowest advertised rates.

Q: How much can I borrow with a personal loan in Victoria?

Most lenders offer Victorian borrowers personal loans from $2,000 to $75,000. Your borrowing capacity depends on income, existing debts and living expenses. Victoria's median household income is approximately $105,000. Melbourne residents may have higher assessed expenses due to housing costs, but strong incomes generally support loans of $20,000-$45,000 depending on commitments.

Q: Can I get a same-day personal loan in Melbourne?

Yes, several online lenders offer same-day approval and funding for Victorian borrowers. Plenti, Wisr and SocietyOne can approve and fund within hours with complete documentation. Bank Australia, headquartered in Melbourne, also offers competitive turnaround times. Major banks typically take 1-3 business days for full processing.

Q: What credit score do I need for a personal loan in Victoria?

Most mainstream lenders require a credit score above 600 (Equifax scale). Scores above 700 access competitive rates from Bank Australia and ANZ. Above 800 qualifies for the best rates from 6.99% (6.99% comparison rate). Specialist lenders like Pepper Money may approve scores of 500-600 at higher rates. Check your score free through Equifax or Illion before applying.

Q: Is a secured or unsecured personal loan better in Victoria?

Secured loans offer rates 1-3% lower than unsecured because the lender holds an asset. For car purchases in Melbourne (where public transport may not reach all suburbs), a secured car loan at around 6.99% is typically better value than an unsecured loan at around 9.99%. Choose unsecured for debt consolidation, travel, or when you do not want to risk an asset.

Q: What are common personal loan uses in Victoria?

Common purposes for personal loans in Victoria include car purchases (especially for outer-suburban Melbourne commuters), home renovations, debt consolidation, wedding expenses, and medical costs. Melbourne's growing outer suburbs drive strong demand for vehicle finance. Renovation loans are popular given Melbourne's older housing stock in inner suburbs.

Q: Can I use a personal loan for home renovations in Melbourne?

Yes, personal loans are commonly used for Melbourne home renovations under $50,000. An unsecured personal loan is faster and simpler than a construction loan. Popular renovation projects in Melbourne include kitchen and bathroom upgrades ($15,000-$40,000), outdoor living areas, and energy efficiency improvements. For larger renovations, consider a home equity loan for lower rates.

Q: How do Victorian credit unions compare to major banks for personal loans?

Victorian credit unions like Bank Australia and Bendigo Bank often offer competitive personal loan rates with more personalised service. Bank Australia offers rates from 9.49% (10.53% comparison rate) with ethical lending practices. Bendigo Bank provides strong branch access across regional Victoria. Major banks offer wider product ranges and faster digital processes. Compare both options using the table above.

Q: What fees should I watch for on personal loans?

Common fees include establishment fees ($0-$400), monthly account fees ($0-$15), early repayment fees for fixed loans ($0-$500), and late payment fees ($15-$35). Many online lenders now offer fee-free loans. Always check the comparison rate which includes most fees. For a $25,000 loan, fees can add $500-$2,000 to the total cost.

Q: Can I refinance my personal loan to a lower rate?

Yes, refinancing to a lower rate can save significant money if rates have dropped or your credit score has improved since you first borrowed. Check for early exit fees on your current loan first. For example, refinancing a $20,000 loan from 12% to 8% saves approximately $1,600 over 3 years. Apply for the new loan before closing the old one.

Compare personal loan rates available to Victoria residents. Find secured, unsecured, fixed and variable loans from major banks, credit unions and online lenders. Rates from 5.60% p.a. (6.65% comparison rate*) on a $25,000 loan over 5 years.

Rates updated 2 November 2026

Loan purpose

Loan term

Loan amount

100% free. No impact on your credit score.

Where Victoria personal loan rates sit today

Rates rising

4.60%

RBA Cash Rate

Up from 4.35% - 29 Sept 2026

$20K

Median Loan Size

Melbourne benchmark

From 6.20%

Lowest Secured Rate

6.63% comparison rate

Victoria’s median personal loan sits around $20K, with strong competition between major banks and online specialists like Plenti and SocietyOne. The RBA sits at 4.60% with secured rates from 6.99% (6.99% comparison rate*), covering debt consolidation and project finance.

Rates from 5.60% p.a. (6.65% comparison rate*) Loans $2,000-$75,000 Same-day approval available Free comparison

Best Personal Loan Rates in Victoria

Victoria residents can access personal loans from major banks, credit unions and online lenders. Monthly repayments shown are based on a $25,000 loan over 5 years. Rates current as of 11 September 2026.

Lender	Product	Rate (p.a.)	Comparison Rate	Monthly ($25k/5yr)	Type	Features
UNITY BANK	Community Support Loan	5.60%	6.65%	$383	Variable	Redraw, PayID, NPP
ING	ING Personal Loan	6.19%	7.03%	$388	Fixed	Digital banking
Liberty	Secured personal loan	6.20%	6.63%	$389	Fixed
Bank of us	RESIDENTIALLY SECURED PERSONAL LOAN	6.29%	6.57%	$389	Variable	NPP, Redraw, Digital banking
Bank of us	Personal Loan	6.49%	6.77%	$391	Variable	Redraw, Digital banking, NPP
St. George Bank	Secured Fixed Personal Loan	6.49%	7.90%	$391	Fixed	Digital banking
Bank of Melbourne	Secured Fixed Personal Loan	6.49%	7.90%	$391	Fixed	Digital banking
BankSA	Secured Fixed Personal Loan	6.49%	7.90%	$391	Fixed	Digital banking
QBANK	Personal Loan	6.74%	7.37%	$394	Variable
Greater Bank	Secured Personal Loan	6.78%	7.17%	$394	Fixed	Digital banking, Redraw
HORIZON BANK	Personal Saving Freeze	6.79%	7.00%	$394	Variable	Redraw, Digital banking, NPP
HORIZON BANK	Personal Mortgage Sec.	6.79%	9.07%	$394	Variable	Redraw, Digital banking, NPP
Liberty	Unsecured personal loan	6.89%	6.89%	$395	Fixed
Credit Union SA	Education Community online-only Special Fixed Rate Personal Loan	6.94%	6.94%	$395	Fixed	Redraw
Bank of us	Personal Loan	6.99%	7.27%	$396	Variable	Redraw, Digital banking, NPP
CommBank	Unsecured Variable Rate Personal Loan	6.99%	8.40%	$396	Variable	Digital banking, Redraw
Health Professionals Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Health Professionals Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Health Professionals Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Health Professionals Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Health Professionals Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
UniBank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
UniBank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
UniBank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
UniBank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
UniBank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Police Bank	Police Student Personal Loan (eligible occupations only)	6.99%	6.30%	$396	Fixed
IMB Bank	Secured Personal Loan	6.99%	7.34%	$396	Fixed	Digital banking
Teachers Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Teachers Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Teachers Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Teachers Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Teachers Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Firefighters Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Firefighters Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Firefighters Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Firefighters Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
Firefighters Mutual Bank	Fixed Rate All Purpose Personal Loan	6.99%	7.20%	$396	Fixed	Digital banking
St. George Bank	Unsecured Variable Personal Loan	7.00%	8.41%	$396	Variable	Digital banking, Redraw
St. George Bank	Unsecured Fixed Personal Loan	7.00%	8.41%	$396	Fixed	Digital banking
Bank of Melbourne	Unsecured Variable Personal Loan	7.00%	8.41%	$396	Variable	Digital banking, Redraw
Bank of Melbourne	Unsecured Fixed Personal Loan	7.00%	8.41%	$396	Fixed	Digital banking
BankSA	Unsecured Fixed Personal Loan	7.00%	8.41%	$396	Fixed	Digital banking
BankSA	Unsecured Variable Personal Loan	7.00%	8.41%	$396	Variable	Digital banking, Redraw
TRANSPORT MUTUAL CREDIT UNION LTD	GREENROAD	7.14%	7.45%	$397	Variable	Redraw
CENTRAL WEST CREDIT UNION LTD	Set-Off Loan	7.15%	7.36%	$397	Variable	Digital banking, Redraw
POLICE CREDIT UNION LIMITED	Fixed Rate Personal Loan	7.24%	7.65%	$398	Fixed	Digital banking, NPP, PayID, Redraw
POLICE CREDIT UNION LIMITED	Fixed Rate Personal Loan	7.24%	7.24%	$398	Variable	Digital banking, NPP, PayID, Redraw
QBANK	Personal Loan	7.24%	7.87%	$398	Variable
Credit Union SA	Education Community Special Fixed Rate Personal Loan	7.24%	7.24%	$398	Fixed	Redraw
CommBank	Unsecured Fixed Rate Personal Loan	7.25%	8.65%	$398	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	7.25%	8.65%	$398	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	7.25%	8.65%	$398	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	7.25%	8.65%	$398	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	7.25%	12.23%	$398	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	7.25%	12.23%	$398	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	7.25%	12.23%	$398	Fixed	Digital banking
Westpac	Unsecured Personal Loan	7.29%	8.69%	$399	Fixed	Digital banking
Cairns Bank	Personal Loan - Secured (residential)	7.34%	8.21%	$399	Variable
Regional Australia Bank	Enviro Loan	7.45%	8.79%	$400	Variable	Redraw, Digital banking
Bank of us	Personal Loan	7.49%	7.77%	$401	Variable	Redraw, Digital banking, NPP
ANZ	ANZ Variable Rate Personal Loan	7.49%	8.18%	$401	Variable	Digital banking, Redraw
ANZ	ANZ Fixed Rate Personal Loan	7.49%	8.18%	$401	Fixed	Digital banking
NAB	NAB Personal Loan	7.50%	8.41%	$401	Fixed	Redraw, Digital banking
NAB	NAB Personal Loan	7.50%	8.41%	$401	Variable	Redraw, Digital banking
BankWAW	Personal Loan Secured	7.59%	7.62%	$402	Variable
Unknown lender	Personal Loan - Secured	7.79%	8.04%	$404	Fixed	Redraw
A-Auswide Bank	UNSECURED PERSONAL LOANS	7.79%	8.49%	$404	Fixed	Redraw, NPP, PayID
Credit Union SA	Online-only Special Fixed Rate Personal Loan	7.94%	8.43%	$405	Fixed	Redraw
UNITY BANK	Diamond Fair Rate Personal Loan Varibale P&I	7.99%	8.00%	$405	Variable	Redraw, PayID, NPP, Digital banking
Police Bank	Police Student Personal Loan (eligible occupations only)	7.99%	7.20%	$405	Fixed
Police Bank	Police Student Personal Loan (eligible occupations only)	7.99%	7.20%	$405	Variable
FIRST OPTION BANK	VIP PERSONAL LOAN	7.99%	8.24%	$405	Variable	Digital banking, Redraw
Cairns Bank	Personal Loan - Secured PPSR	8.00%	8.87%	$406	Variable
SCCU	SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed
SCCU	SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed
SCCU	SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed
SCCU	SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed
SCCU	SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed
SCCU	EMONEY SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
SCCU	EMONEY SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
SCCU	EMONEY SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
SCCU	EMONEY SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
SCCU	EMONEY SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER SECURED PERSONAL LOAN	8.24%	9.15%	$408	Fixed	Digital banking, Redraw
Credit Union SA	Special Fixed Rate Personal Loan	8.24%	8.73%	$408	Fixed	Redraw
BankWAW	Personal Loan Secured Other	8.49%	8.52%	$410	Variable
Alex.Bank	Secured Fixed Rate Personal Loan	8.49%	8.91%	$410	Fixed
Alex.Bank	Secured Fixed Rate Personal Loan	8.49%	8.91%	$410	Fixed
Alex.Bank	Secured Fixed Rate Personal Loan	8.49%	8.91%	$410	Fixed
WOOLWORTHS TEAM BANK	PERSONAL	8.49%	10.71%	$410	Variable
HUME BANK LIMITED	Secured Personal Loan	8.49%	8.70%	$410	Fixed	Redraw, Digital banking
HUME BANK LIMITED	Commercially Secured Personal Loan	8.49%	8.70%	$410	Fixed	Redraw, Digital banking
HUME BANK LIMITED	Investment Secured Personal Loan	8.49%	8.70%	$410	Fixed	Redraw, Digital banking
AMB Bank Product	Personal Loan	8.95%	9.85%	$415	Fixed
A-Auswide Bank	UNSECURED PERSONAL LOANS	8.98%	9.68%	$415	Fixed	Redraw, NPP, PayID
Bank of us	Personal Loan	8.99%	9.28%	$415	Variable	Redraw, Digital banking, NPP
Newcastle Permanent	Unsecured Personal loan	8.99%	9.35%	$415	Fixed	Digital banking
Greater Bank	Unsecured Personal Loan	8.99%	9.39%	$415	Fixed	Redraw, Digital banking
FIRST OPTION BANK	BEGREEN LOAN	8.99%	8.24%	$415	Variable	Digital banking, Redraw
Alex.Bank	Unsecured Fixed Rate Personal Loan	8.99%	8.99%	$415	Fixed
Alex.Bank	Unsecured Fixed Rate Personal Loan	8.99%	8.99%	$415	Fixed
Alex.Bank	Unsecured Fixed Rate Personal Loan	8.99%	8.99%	$415	Fixed
Defence Bank Limited	Personal Loan	9.09%	10.06%	$416	Variable	Redraw, Digital banking
QBANK	Personal Loan	9.24%	9.86%	$418	Variable
IMB Bank	Unsecured Personal loan	9.24%	9.60%	$418	Fixed	Digital banking
Credit Union SA	Education Community Fixed Rate Personal Loan	9.24%	9.24%	$418	Fixed	Redraw
MACARTHUR CREDIT UNION LTD	SECURED PERSONAL FIXED	9.49%	9.87%	$420	Fixed	Redraw, Digital banking, PayID, NPP
Qudos Bank	Personal Loan	9.49%	10.53%	$420	Variable
Bank Australia	Lifestyle Personal Loan	9.49%	10.53%	$420	Variable	Digital banking
CENTRAL WEST CREDIT UNION LTD	Premium Personal Loan	9.50%	10.52%	$420	Variable	Digital banking
LCU	New Cars	9.50%	9.79%	$420	Variable	Redraw, Digital banking, NPP, PayID
Cairns Bank	Personal Loan - Unsecured	9.50%	12.59%	$420	Variable
Bendigo Bank	Bendigo Secured Personal Loan	9.54%	10.26%	$420	Fixed	Redraw
Bendigo Bank	Bendigo Secured Student Personal Loan	9.54%	9.70%	$420	Fixed	Redraw
Bank First Production	Personal Loan Personal Lending 1-5 Years Fixed Unsecured	9.64%	11.00%	$421	Fixed	Redraw, PayID, Digital banking
Bank First Production	Personal Loan Personal Lending Variable Unsecured	9.64%	11.00%	$421	Variable	PayID, Digital banking, Redraw
SCCU	UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed
SCCU	UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed
SCCU	UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed
SCCU	UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed
SCCU	UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed
SCCU	EMONEY UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	9.64%	10.56%	$421	Fixed	Digital banking, Redraw
HORIZON BANK	Budget Personal Loan	9.99%	10.13%	$425	Variable	Redraw, Digital banking, NPP
UNITY BANK	Emerald Fair Rate Personal Loan Variable P&I	9.99%	10.00%	$425	Variable	Redraw, PayID, NPP, Digital banking
Police Bank	Personal Loan	9.99%	10.13%	$425	Variable	Redraw
Border Bank	Personal Loan	9.99%	10.13%	$425	Variable	Redraw, NPP, Digital wallet, PayID, Digital banking
Credit Union SA	Fixed Rate Personal Loan	10.24%	10.74%	$427	Fixed	Redraw
Regional Australia Bank	Personal Touch Loan	10.49%	11.85%	$430	Variable	Digital banking, Redraw
CENTRAL WEST CREDIT UNION LTD	Personal Loan	10.50%	11.53%	$430	Variable	Digital banking, Redraw
LCU	Used Cars	10.50%	10.79%	$430	Variable	Redraw, Digital banking, NPP, PayID
Community First Credit Union	Personal Loan - Fixed	10.74%	11.76%	$432	Fixed	Digital banking, Redraw
Community First Credit Union	Personal Loan	10.74%	11.76%	$432	Variable	Digital banking, Redraw
LCU	Home Renovation Loan	10.85%	11.14%	$433	Variable	Redraw, Digital banking, NPP, PayID
ORANGE CREDIT UNION LTD	Secured Personal Loan	10.89%	11.27%	$434	Variable	Redraw
THE CAPRICORNIAN	Personal Loans	10.94%	11.30%	$434	Variable	PayID, NPP, Redraw, Digital banking
Bank of us	Personal Loan	10.99%	11.28%	$435	Variable	Redraw, Digital banking, NPP
Bank of us	Personal Loan	10.99%	11.28%	$435	Variable	Redraw, Digital banking, NPP
UNITY BANK	Sapphire Fair Rate Personal Loan Variable P&I	10.99%	11.00%	$435	Variable	Redraw, PayID, NPP, Digital banking
QBANK	Personal Loan	11.24%	11.86%	$437	Variable
Arab Bank Australia Ltd Prod	Personal Loan	11.30%	12.32%	$438	Fixed	Digital banking
TRANSPORT MUTUAL CREDIT UNION LTD	UNSECURED LOAN	11.39%	11.71%	$439	Variable	Redraw
RACQ Bank	Unsecured Personal Loan	11.49%	11.67%	$440	Variable	NPP, Digital banking
RACQ Bank	Unsecured Personal Loan	11.49%	11.67%	$440	Variable	NPP, Digital banking
RACQ Bank	Unsecured Personal Loan	11.49%	11.67%	$440	Variable	NPP, Digital banking
RACQ Bank	Unsecured Personal Loan	11.49%	11.67%	$440	Variable	Digital banking, NPP
TRANSPORT MUTUAL CREDIT UNION LTD	TRAVEL LOAN	11.64%	12.21%	$441	Fixed	Redraw
WOOLWORTHS TEAM BANK	PERSONAL	11.64%	13.90%	$441	Variable
SCCU	UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed
SCCU	UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed
SCCU	UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed
SCCU	UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed
SCCU	UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed
SCCU	EMONEY UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	11.64%	12.54%	$441	Fixed	Digital banking, Redraw
Bendigo Bank	Bendigo Unsecured Student Personal Loan	11.74%	11.74%	$442	Fixed	Redraw
BankVic	Personal Loan Variable	11.95%	12.08%	$444	Variable	NPP, PayID
Health Professionals Bank	All Purpose Personal Loan	11.99%	12.14%	$445	Variable	Redraw, Digital banking
UniBank	All Purpose Personal Loan	11.99%	12.14%	$445	Variable	Redraw, Digital banking
Teachers Mutual Bank	All Purpose Personal Loan	11.99%	12.14%	$445	Variable	Redraw, Digital banking
Firefighters Mutual Bank	All Purpose Personal Loan	11.99%	12.14%	$445	Variable	Redraw, Digital banking
TRANSPORT MUTUAL CREDIT UNION LTD	CREDIT CARD CRUSHER	12.14%	12.46%	$446	Variable	Redraw
BankWAW	Personal Loan Unsecured	12.29%	12.33%	$448	Variable
NORTHERN INLAND CREDIT UNION LTD.	Personal Loan Unsecured	12.49%	15.58%	$450	Fixed	Redraw, Digital banking
HUME BANK LIMITED	Unsecured Personal Loan	12.49%	12.71%	$450	Fixed	Redraw, Digital banking
Credit Union SA	Education Community Variable Rate Personal Loan	12.60%	12.60%	$451	Variable	Redraw
St. George Bank	Secured Fixed Personal Loan	12.99%	14.34%	$455	Fixed	Digital banking
Bank of Melbourne	Secured Fixed Personal Loan	12.99%	14.34%	$455	Fixed	Digital banking
UNITY BANK	Ruby Fair Rate Personal Loan Variable P&I	12.99%	13.01%	$455	Variable	Redraw, PayID, NPP, Digital banking
Police Bank	Personal Loan	12.99%	13.14%	$455	Fixed	Redraw
BankSA	Secured Fixed Personal Loan	12.99%	14.34%	$455	Fixed	Digital banking
Border Bank	Personal Loan	12.99%	13.14%	$455	Fixed	Redraw, NPP, Digital wallet, PayID, Digital banking
RACQ Bank	Debt Consolidation Loan	12.99%	13.17%	$455	Variable	NPP, Digital banking
QBANK	Personal Loan	13.24%	13.86%	$458	Variable
QBANK	Personal Loan	13.24%	13.86%	$458	Variable
Credit Union SA	Variable Rate Personal Loan	13.60%	14.12%	$461	Variable	Redraw
SCCU	UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed
SCCU	UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed
SCCU	UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed
SCCU	UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed
SCCU	UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed
SCCU	EMONEY UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
SCCU	EMONEY UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
SCCU	LJ HOOKER UNSECURED PERSONAL LOAN	13.64%	14.53%	$462	Fixed	Digital banking, Redraw
ORANGE CREDIT UNION LTD	Unsecured Personal Loan	13.89%	15.63%	$464	Variable	Redraw
FIRST OPTION BANK	PERSONAL LOAN	13.99%	14.25%	$465	Variable	Digital banking, Redraw
Defence Bank Limited	Consolidation Loan	13.99%	14.93%	$465	Variable	Digital banking
Arab Bank Australia Ltd Prod	Personal Loan	14.00%	14.99%	$465	Fixed	Digital banking
WOOLWORTHS TEAM BANK	Personal Secured Loan	14.35%	16.65%	$469	Variable
Bendigo Bank	Bendigo Unsecured Personal Loan	14.54%	16.64%	$471	Fixed	Redraw
Unknown lender	Personal Loan - Unsecured	14.95%	15.18%	$475	Fixed	Redraw
LCU	Personal Loan	15.25%	15.55%	$478	Variable	Redraw, Digital wallet, NPP, PayID
WOOLWORTHS TEAM BANK	Personal Unsecured Loan	15.35%	17.66%	$479	Variable
CommBank	Unsecured Variable Rate Personal Loan	15.99%	17.31%	$486	Variable	Digital banking, Redraw
MACARTHUR CREDIT UNION LTD	UNSECURED PERSONAL FIXED	15.99%	16.29%	$486	Fixed	Redraw, Digital banking, PayID, NPP
Regional Australia Bank	Personal Loan	16.24%	17.65%	$489	Variable	Digital banking, Redraw
CommBank	Unsecured Fixed Rate Personal Loan	16.25%	17.57%	$489	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	16.25%	17.57%	$489	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	16.25%	17.57%	$489	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	16.25%	17.57%	$489	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	16.25%	21.09%	$489	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	16.25%	21.09%	$489	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	16.25%	21.09%	$489	Fixed	Digital banking
UNITY BANK	Opal Fair Rate Personal Loan Variable P&I	16.99%	17.01%	$497	Variable	Redraw, PayID, NPP, Digital banking
Great Southern Bank	Unsecured Fixed Personal Loan	17.00%	9.69%	$497	Fixed	Digital banking, Redraw
Great Southern Bank	Unsecured Fixed Personal Loan	17.00%	13.19%	$497	Fixed	Digital banking, Redraw
Great Southern Bank	Unsecured Fixed Personal Loan	17.00%	19.99%	$497	Fixed	Digital banking, Redraw
Great Southern Bank	Unsecured Fixed Personal Loan	17.00%	7.69%	$497	Fixed	Digital banking, Redraw
Great Southern Bank	Unsecured Fixed Personal Loan	17.00%	16.99%	$497	Fixed	Digital banking, Redraw
Great Southern Bank	Unsecured Fixed Personal Loan	17.00%	18.49%	$497	Fixed	Digital banking, Redraw
Arab Bank Australia Ltd Prod	Personal Loan	17.90%	18.85%	$507	Variable	Digital banking
Westpac	Flexi Loan	18.99%	18.99%	$519	Variable	Redraw, Digital banking
ING	ING Personal Loan	19.99%	20.78%	$530	Fixed	Digital banking
Arab Bank Australia Ltd Prod	Personal Loan	20.60%	21.53%	$537	Variable	Digital banking
CommBank	Unsecured Variable Rate Personal Loan	21.99%	23.28%	$552	Variable	Digital banking, Redraw
St. George Bank	Unsecured Variable Personal Loan	21.99%	23.28%	$552	Variable	Digital banking, Redraw
St. George Bank	Unsecured Fixed Personal Loan	21.99%	23.28%	$552	Fixed	Digital banking
ANZ	ANZ Variable Rate Personal Loan	21.99%	22.56%	$552	Variable	Digital banking, Redraw
ANZ	ANZ Fixed Rate Personal Loan	21.99%	22.56%	$552	Fixed	Digital banking
Bank of Melbourne	Unsecured Variable Personal Loan	21.99%	23.28%	$552	Variable	Digital banking, Redraw
Bank of Melbourne	Unsecured Fixed Personal Loan	21.99%	23.28%	$552	Fixed	Digital banking
BankSA	Unsecured Fixed Personal Loan	21.99%	23.28%	$552	Fixed	Digital banking
BankSA	Unsecured Variable Personal Loan	21.99%	23.28%	$552	Variable	Digital banking, Redraw
NAB	NAB Personal Loan	22.00%	22.29%	$552	Fixed	Redraw, Digital banking
NAB	NAB Personal Loan	22.00%	22.29%	$552	Variable	Redraw, Digital banking
Westpac	Unsecured Personal Loan	22.19%	23.48%	$555	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	22.25%	23.53%	$555	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	22.25%	23.53%	$555	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	22.25%	23.53%	$555	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	22.25%	23.53%	$555	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	22.25%	27.03%	$555	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	22.25%	27.03%	$555	Fixed	Digital banking
CommBank	Unsecured Fixed Rate Personal Loan	22.25%	27.03%	$555	Fixed	Digital banking

Rates based on a $25,000 personal loan over 5 years. Comparison rates calculated on a $10,000 loan over 3 years per ASIC guidelines.

Savings example: On VIC’s typical ~$20,000 personal loan over 5 years, cutting your rate by 2.50% saves about $25/month - around $1,470 over the life of the loan. Melbourne-headquartered Bank Australia offers competitive rates.

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Live CDR rates

Consolidate debt and save up to $1,322/year*

Personal loans from 5.60% p.a. (6.65% comparison rate*) across 50+ Australian lenders - much cheaper than the typical 20% credit card APR.

Consolidate credit card debt to a single lower payment
Borrow $5,000 to $80,000 from 5.60% p.a. (6.65% comparison rate*)
We refer your enquiry to our accredited broker partner

*Illustrative only. Based on consolidating $15,000 of credit card debt at 20% p.a. (typical Australian credit card APR) into a personal loan at 5.60% p.a. over 5 years. Actual savings depend on your debt balance, interest rates, loan term and approved rate.

Personal Loan Calculators for Victoria

Estimate repayments and potential debt consolidation savings on a typical VIC personal loan before you apply.

VIC Personal Loan Repayment Calculator

Calculate monthly, fortnightly or weekly repayments and total interest paid on a typical VIC personal loan.

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VIC Debt Consolidation Calculator

See indicative figures on consolidating multiple debts into a single personal loan for VIC borrowers.

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We compare Australia's leading personal loan lenders

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The find.deals™ difference

Compare VIC personal loan rates side by side.

Whether it's a renovation, wedding, debt consolidation or something else, the gap between VIC personal loan rates can mean thousands. Compare 50+ Australian lenders in minutes.

Personal Loans in Victoria

Victoria is Australia's second most populous state with a median household income of approximately $105,000. Melbourne's competitive lending market means Victorian borrowers benefit from strong rate competition, particularly from local institutions like Bank Australia and Bendigo Bank alongside major banks. Common loan purposes include vehicle purchases, home renovations in Melbourne's older suburbs, and debt consolidation.

VIC at a glance

Median household income: ~$105,000
Population: 6.8 million
Average personal loan: $18,000-$32,000
Top loan purposes: Cars, renovations, consolidation

VIC borrowing tips

Check VIC-based lenders like Bank Australia for competitive rates
Melbourne housing costs can affect borrowing capacity
Consider secured car loans for outer-suburban commuting
Use pre-approval tools to check rates without affecting credit

Types of Personal Loans in VIC

6.20%-14.35%

Secured

Backed by an asset (e.g. car). Lower rates from 5.60% (6.65% comparison rate).

5.60%-17.90%

Unsecured

No asset required. Assessed on income and credit.

6.19%-17.00%

Fixed

Rate locked for the full term. Predictable repayments.

5.60%-17.90%

Variable

Rate can change. Flexibility for extra repayments.

7.49%-13.99%

Debt Consolidation

Combine multiple debts into one manageable loan.

Debt consolidation lever for Victoria: Rolling $20,000 of credit-card debt at ~22% p.a. into a 5.60% personal loan over 5 years cuts your interest bill by roughly $2,800/year - and replaces multiple Melbourne-tempo minimum payments with a single fixed repayment.

Secured vs Unsecured Personal Loans: Which Should You Choose?

In 2026, secured personal loan rates start from 6.20% p.a. (6.63% comparison rate) while unsecured rates start from 5.60% p.a. (6.65% comparison rate) Secured loans use an asset (typically a car) as collateral, resulting in lower rates but risk of repossession. Unsecured loans offer flexibility with no asset at risk, but at higher rates.

Choose secured if…

You are buying a car or asset
You want the lowest possible rate
You are comfortable with collateral

Choose unsecured if…

You have no asset to offer as security
You want flexibility on how funds are used
You do not want to risk asset repossession

Choose line of credit if…

You need ongoing access to funds
You only want to pay interest on what you use
You have strong spending discipline

Secured loan tip: Backing your loan with an asset (typically a car or term deposit) can cut 2-3 percentage points off your rate. On a $20,000 loan, moving to a secured loan ~2.5% lower saves roughly $2,880 over 5 years - worth it if you have an eligible asset and are comfortable offering it as security.

Frequently Asked Questions

Everything you need to know about personal loans in Victoria.

What is the best personal loan rate in Victoria in 2026?

How much can I borrow with a personal loan in Victoria?

Can I get a same-day personal loan in Melbourne?

What credit score do I need for a personal loan in Victoria?

Is a secured or unsecured personal loan better in Victoria?

What are common personal loan uses in Victoria?

Can I use a personal loan for home renovations in Melbourne?

How do Victorian credit unions compare to major banks for personal loans?

What fees should I watch for on personal loans?

Can I refinance my personal loan to a lower rate?

Compare Personal Loans in Other States

New South Wales

NSW

Queensland

QLD

Western Australia

South Australia

Tasmania

TAS

ACT

Australian Capital Territory

Northern Territory

All Australia

National

Personal Loan Guide

Read the guide

Rates shown are indicative and sourced from lender websites. Actual rates depend on your credit profile, loan amount and term. Comparison rates are based on a $10,000 unsecured loan over 3 years as per ASIC guidelines. This information is general in nature and does not constitute financial advice. "Lowest" = the lowest rate on our live CDR feed at the time of viewing, across the lenders we display. Rates update daily and not all lenders are included, so other products may be lower. Source: Consumer Data Right (CDR), lender websites. Last updated: 2 November 2026. Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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