Which Personal Loan Should You Pick This May?

Liberty Financial's non-bank approach offers flexibility for those who don't fit traditional lender profiles. With rates starting from 5.67% p.a. for secured loans, it's tailored for borrowers needing a flexible lending solution. The absence of a branch network means a completely digital experience, which might not suit those preferring in-person service.

Commonwealth Bank provides both fixed and variable rates, making it a solid choice for those who want control over their repayment terms. While the rates start at 7.25% p.a., the convenience of managing your loan via their app adds a layer of accessibility. However, watch out for the $250 establishment fee.

ANZ's strong branch network and offerings of both fixed and variable rates cater to borrowers who value in-person support and choice. Rates start higher than fintechs at 7.49% p.a., but the security of a big-four bank is a significant draw.

Westpac's loan comes with the added benefit of discounted electric car loans for those environmentally conscious. Starting at 7.00% p.a., the flexibility of terms and no early exit fees make it appealing, although the $250 establishment fee is a downside.

Harmoney offers some of the lowest rates starting at 5.76% p.a. for unsecured loans, appealing to those with good to excellent credit. The fully online application process is a plus, though those needing more than $70,000 must look elsewhere.

Plenti's award-winning service is ideal for tech-savvy borrowers looking for quick, no-hassle loans. With rates from 6.17% p.a., and funding within 24 hours, it's a top choice for those who value speed and convenience.

ING's digital-first approach and competitive rates starting at 6.19% p.a. are appealing for those who prefer a seamless online experience. However, the $60,000 cap might be a limitation for some borrowers.

OurMoneyMarket's personal loan offers a competitive start rate of 5.95% p.a. with no ongoing fees, perfect for budget-conscious borrowers. The Rate Beat guarantee is a unique feature, though the short 5-year term may not suit everyone.