Find the best loan in Australia with Lendela

  • Apply to compare personalised loan offers
  • Receive offers from multiple banks & lenders
  • Borrow up to $100,000
start-here
Loan Amount
$
Loan Amount
$1,000
$200,000
$20,000
Tenure
Tenure
3
72
Month

Your monthly payment

$ 533

Selected Partners
Plenti
NOW Finance
OurMoneyMarket
Wisr
MoneyMe
Fair Go Finance
Plenti
NOW Finance
OurMoneyMarket
Wisr
MoneyMe
Fair Go Finance

Over 200,000 happy customers

Hear what Australians are saying about Lendela.

avatar
amie tobin
1 week ago
Awesome… saved my life ❤️
avatar
Stephanie Sheldrick
3 weeks ago
First time going through Lendela. The staff member (Dee) was extremely helpful getting me through the process,...
avatar
Aleni Te'o
1 month ago
Awesome company, very easy and simple. I recommend Lendela to anyone. Very helpful, thank you.
avatar
Sandra Taylor
1 month ago
Lendela have the customer service I have experienced in the lending platform, even though I didn't get the outcome ...
avatar
David Ailao tui
1 month ago
This is the best lender I ever experienced I done my application on 1 day and the next day I got approved soo...
avatar
Christopher McGrigor
1 month ago
My experience dealing with Lendela has been nothing but positive. In particular your staff member Dee, whom has...
avatar
Iftiyaz Khan
2 months ago
Very good 👍
avatar
Arlete Ferreira
2 months ago
The best , thank you so much for all your help ❤️
avatar
Brett Davis
2 months ago
Dee did a excellent job in assisting me with my loan, And I would highly recommend her for any further assistance
avatar
Paul gibbons
2 months ago
It's only early but all good
avatar
lynda mckune
2 months ago
Awesome can not fault
avatar
RUSSELL ASENO
2 months ago
Very reliable and friendly. Looking out for the best outcomes for their clients

One Application - Multiple Personalised Loan Offers

Three steps to get your perfect loan in Australia:

Apply fast & easy

1. Apply online in a few minutes

Compare your offers

2. Compare multiple loan offers

Select loan and get your money

3. Choose the best offer and get your cash

This is Lendela

Our goal is to make the loan application process in Australia faster, simpler, and more transparent. We assist you from application to disbursement as Australia's only true personal loan comparison service. Click here to learn more about Lendela and how we help thousands of Australians seeking loans every month.

Featured In

Your Guide to a Loan in Australia

No matter if you are looking for a loan to fund your next business idea, or you are looking to consolidate debt to lower your monthly cost, there are a few basic things about loans that are essential - especially when you are in the middle of your application. Here, we will help to explain the basics of loans for you to come better prepared when it is time to apply.

What is a loan?


A loan is basically borrowing money or property from another person or entity, which has to be repaid according to an agreement between the lender and the borrower. These agreements typically include terms borrowers have to follow, such as a repayment schedule where you will have to pay off your borrowed amount plus interest and fees, over time. Loans can come in many different shapes and forms, like unsecured loans and credits, and loans for specific purposes such as car loans and mortgages. We will look into the different loan types available in the market further down in this guide.

Who can give out a loan in Australia?


Before granting a loan to anyone, all financial institutions in Australia must be licensed by the Australian Securities and Investments Commission (ASIC).

If you are unsure whether your lender is registered, or if you want to make sure that Lendela is qualified to match you with a loan, visit ASIC's registry of credit providers to ensure you are dealing with a licensed credit provider – it's always a good idea to double-check who your loan broker or actual loan provider is before dealing with them!

Here is a general tiered list of the different banks and alternative lenders that typically provide loans in Australia:

  • Major banks (Australia and New Zealand Bank, Commonwealth Bank of Australia, National Australia Bank, Westpac, Macquarie Bank)

  • Alternative lenders (there are more than 600 of them!)

Despite the fact that many people prefer going to major banks for convenience and security reasons, there are many advantages to borrowing from an alternative lender. Processing speed, flexibility in terms of loan structure and less conservative credit score criteria are all examples of that.

Who is eligible to take up a loan in Australia?


At Lendela, our business is to make sure that anyone is able to find the right loan for their needs. Though our broad panel of partnering lenders is enabling a rather generous and flexible set of criteria, there are some basic guidelines enforced by the Australian Securities & Investments Commission (ASIC) that both Lendela and our lending partners have to follow when deciding if you are eligible for a loan.

You generally need to:

  • Be at least 18 years old

  • Meet a minimum income requirement (varies from lender to lender)

  • Have a credit score that is decent to very good

In other words, before granting a loan to a borrower, financial institutions must ensure that they are lending money responsibly and only to borrowers who they believe can repay the loan in a trouble-free way. Always double-check with your chosen lender on their specific criteria, especially for different types of loans.

What types of loans are there?


Loans in Australia generally fall under these broad categories:

  • Personal loans

  • Housing loans

  • Business loans

  • Education loans

  • Car loans

Note that loan products such as debt consolidation, balance transfer, and line of credit are falling under the personal loan category.

Back to top

What is the cost of a loan?


It largely depends on the amount you borrow and the loan type you choose, as well as the loan terms that apply to your specific loan. The terms normally vary depending on the policies and individual risk assessment checks performed by each lending entity, and on your financial situation and credit rating. Altogether, these factors determine things such as interest rate, tenure, potential fees etc.

Back to top

How are the loan terms decided?


Loan terms are generally determined by ASIC's regulatory guidelines; however, these terms may differ for the same type of loan offered by the same or different lenders.

For example, you might have a personal loan with a principal payment term and another personal loan with an interest-only payment term. Despite being the same loan product, the payment terms for these loans are different – that is one important thing to note when comparing your loan offers.

Keep in mind that fees and interest rates are part of any loan agreement, so expect to pay a little more than the actual amount you are looking to borrow.

Back to top
chat-bubble
Lendela AI
Lendela AI Assistant
close