Question 1

What is the average personal loan rate in Australia?

Accepted Answer

Personal loan rates in Australia typically range from 6-7% for secured loans with excellent credit to 15-20% for unsecured loans with average credit. The average sits around 10-12%. Rates depend on your credit score, whether the loan is secured, and the lender.

Question 2

How much can I borrow with a personal loan?

Accepted Answer

Most lenders offer personal loans from $2,000 to $50,000, with terms of 1-7 years. The amount you can borrow depends on your income, expenses, credit score, and existing debts. Generally you need to show the repayments fit within your budget.

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