Get a Personal Loan That Fits Your Needs with Fintell Finance

Big bills don’t wait for when you're liquid. One week it’s the fridge compressor packing up, the next it’s the mechanic telling you your car’s gearbox has had it. Maybe the roof’s leaking following a storm, or the dentist just told you it’s time. Yes, a personal loan is an option, but not with the fine prints, early repayments and heavy interest rates.

People in this spot usually end up Googling: “Can I get a personal loan without getting stitched up?” Yes, you can. You need to pick a loan that matches your income and repayment capacity.

At Fintell Finance, we’ve spent over 20 years helping thousands of people dodge the debt traps and escape the sudden bills. We’ve seen the common mistakes, and how the right personal loan (with clear terms, fair rates, and flexible repayments) can save you thousands of AUD.

Understanding Personal Loans

Personal Loans are simple on the surface. You borrow money. You pay it back in regular instalments with interest. Data shows fixed personal loans in Australia topped $9 billion for the June quarter of 2025, so you’re definitely not the only one trying to sort it out.

But the details (loan type, loan term, and repayment structure) make all the difference.

What is a Personal Loan?

A personal loan is a lump sum of money borrowed from a lender and repaid over a set period, typically from a few months to 7 years. You agree to a repayment amount, which includes principal and interest. The lender decides your personalised interest rate based on your credit history, credit report, and income.

The loan amounts can vary. Some lenders offer as little as $2,000. Others go up to $75,000 or more. In Australia, the average fixed personal loan in 2025 was around $22,643, according to Money.com.au. That’s often enough to cover debt consolidation, home improvements, or large purchases.

Types of Personal Loans

The type of personal loans you choose can change everything, from your interest rate to how much you pay back over the loan term. Some give you stability, others give you flexibility, and a few can land you in hot water if you’re not careful.

Secured Personal Loan

This type of loan is tied to an asset, usually your car or home. Because the lender has something to fall back on if you stop paying, the interest rate is usually lower. In Australia, secured personal loan rates currently sit around 6–9% p.a. comparison rate with most lenders. The risk is if you default, the lender can repossess your asset.

If Mark in Adelaide used a secured loan against his ute to fund $20,000 worth of home renovations. His rate was 6.5% over a 5-year loan term. Without the asset, his rate would’ve jumped closer to 10%.

Unsecured Personal Loan

No collateral required. That makes approval faster, but the lender takes more risk, so you pay for it. Average unsecured personal loan rates in Australia hover between 9–14% p.a. comparison rate, though smaller lenders sometimes charge much higher. These are common for medical bills, weddings, or debt consolidation.

Scenario: Sarah needed $8,000 to cover unexpected dental and medical costs. She went unsecured to avoid risking her car. Her monthly repayments sat around $180 over a 4-year loan term, but the higher rate meant she paid roughly $2,500 in interest by the end.

Fixed Interest Rate

Your repayments don’t change, no matter what the Reserve Bank does with cash rates. That stability helps with budgeting, especially if money’s tight. Fixed personal loans in Australia often run between 6–12% p.a. comparison rate.

If you lock on a $15,000 fixed personal loan at 7.8% over 3 years, your monthly repayments are $468, every single month.

Variable Rate Personal Loan

These move with the market. If the RBA lowers rates, you could save on your repayment. If rates climb, your monthly repayments go up too. On the plus side, most variable rate personal loans allow extra repayments without penalty, which cuts down interest fast. Current variable rate personal loans in Australia average 7–13% p.a. comparison rate.

Can I Get a Personal Loan?

This is the question every borrower asks. The good news is, yes, you can. But not all loans are good loans.

The Risks of Sharp Practices

Australia’s personal loan market is regulated under the Australian Credit Licence system, but that doesn’t stop all bad practices. Some lenders still advertise loans with “no credit check” or “instant approval” that end up costing double.

For instance, one borrower took out a $2,500 unsecured personal loan for moving expenses. But at a whooping 148% interest rate. By the end, they were repaying about $5,500.

This is why checking the comparison rate matters. The comparison rate includes both the advertised interest rate and the standard fees. If the rate of personal loan you’re looking at seems too low, the comparison rate will tell the real story.

Should I Take a Personal Loan or Car Loan?

It depends on what you’re buying. Car loans are usually secured loans tied directly to the vehicle. They often come with a lower personalised interest rate, but you can only use them for the car. Personal loans give you flexibility. You can cover registration, insurance, or even other bills.

Eligibility Factors for Personal Loans

Most lenders check three things:

• Income: You’ll need stable employment or a reliable income stream.

• Credit History: A strong credit score gets you lower rates. Late payments or defaults reduce your options.

• Repayment Capacity: Lenders test if you can meet the repayment amount comfortably.

Don’t assume rejection if your credit report isn’t perfect. With the right broker support, you can still access top financial solutions that suit your profile.

Common Misconceptions About Personal Loans

There’s a lot of half-truths floating around about personal loans. Some come from mates at the pub, others from quick Google searches. Let’s clear up the biggest ones.

“You can’t get a loan with bad credit.”

Not true. Some lenders accept weaker credit history, but the trade-off is usually a higher personalised interest rate. For example, a borrower with a credit score of 500 might only qualify for 15% comparison rate, while someone with 750 could be offered 8%.

“Paying a loan early doesn’t save money.”

Wrong. Paying the loan early slashes the total interest you’ll pay. On a $20,000 loan at 10% over 5 years, paying it off a year early can save around $1,000 in interest. However, some lenders may sting you with early repayment fees. So, always check.

“A secured loan is always better.”

Not always. A secured personal loan usually comes with a lower interest rate, but your asset is on the line. Miss enough repayments and you could lose your car or even have your home equity impacted. An unsecured loan at a slightly higher rate is the safer bet, except you have a very structured, guaranteed income.

“You need a big loan for it to be worth it.”

False. Lenders in Australia offer personal loan amounts as low as $2,000. Plenty of borrowers use small unsecured loans for medical bills or urgent car repairs. Waiting until you “need a big loan” can leave you in more debt than you ever planned.

“Monthly repayments are the only cost.”

Nope. Hidden fees catch people all the time, from application fees to account-keeping fees, and late charges. A loan that looks cheap at 7% interest can climb to a 10%+ comparison rate once those fees are added. That’s why the comparison rate is the figure that matters most.

“Getting multiple quotes hurts your credit report.”

Not quite. Multiple applications in a short time can dent your credit score, but comparing quotes through a broker doesn’t. Brokers check lenders on your behalf without lodging a bunch of full applications, so you don’t end up with five hits on your credit history just for shopping around.

The Easiest Way to Get a Personal Loan with Fintell Finance

The easiest way to get a personal loan is working with people who know the lenders, the rules, and the traps.

How Fintell Finance Helps

We’re not tied to one bank. We’re brokers with access to dozens of lenders. That means we compare the best personal loan options for you, saving time and headaches.

Our experience also means we know which lenders are flexible on credit scores, which allow extra repayments without penalty, and which have genuine fixed interest rate products with no hidden fees.

Step-by-Step Process

1. Application: You apply online or with our team. We collect your details, income, and credit report.

2. Assessment: We match you with lenders. We check personalised interest rate options, comparison rates, and loan terms.

3. Approval: Once you pick the loan, we finalise the approval. Most clients hear back within days.

Secure & Transparent Service

All loans are set under an Australian Credit Licence, which protects borrowers. We also guarantee a secure online experience with no hidden early repayment fees.

Everything is explained upfront, from loan amounts to interest rates, repayment terms, and possible extra repayments.

Tips to Choose the Right Loan

How do you pick the right one? Here are practical steps.

• Compare comparison rate, not just the interest rate. That shows the real cost.

• Check for early repayment fees. Some lenders punish you for paying the loan early.

• Choose a loan term that fits. Longer terms mean smaller monthly repayments, but higher overall cost.

• Ask about extra repayments. Can you make extra repayments without penalty?

• Factor in the fees: application fees, monthly service charges, late payment penalties.

• If you’ve got multiple debts, consider debt consolidation through comprehensive financial planning. One fixed interest rate repayment is easier to manage than several high-interest credit cards.

Let's Get You Funded

With the right advice, you can secure a personal loan that matches your needs, keeps your repayment amount manageable, and avoids hidden costs.

At Fintell Finance, we make it simple. From application to approval, we explain the loan term, comparison rate, and repayment amount.

Call us now on +61 422 249 815, email hana@fintellfinance.com.au or reach us via WhatsApp. We’re happy to get you funded and support your financial journey.