Personal loans guides

Bank loans are not all repossessions and debtors' prison - in some cases they makes good financial sense. But even a low rate personal loan will cost you for the privilege of money up front. So you'll want to manage your borrowings, and bag the best deal. So that you've got all the know-how you'll need when it comes to choosing a personal loan, Mozo's money writers have written a range of must-read guides covering off all aspects to personal borrowing. Search below for the one that best meets your needs.

Personal loans & eligibility: Your top questions answered

Personal loans & eligibility: Your top questions answered

We get it. Personal loan eligibility criteria aren't always so clear cut. So, before you even consider applying for a personal loan, it's super important to shop around and compare your options until you find the right loan for you.

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Credit score, credit file, credit history - what's the difference?

Credit score, credit file, credit history - what's the difference?

Understanding the credit world can be difficult at the best of times. But when there are terms like credit score, credit file and credit history being thrown around - now that’s just downright confusing.

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Refinancing your personal loan? Here’s what to look for

Refinancing your personal loan? Here’s what to look for

If you’re like many other Aussies with a personal loan, you probably signed the papers and never looked back. But have you ever stopped and wondered about the potential savings you'd get if you were to refinance? Now, now, don’t let the word ‘refinance’ scare you away. With our help, refinancing your personal loan will be a piece of cake, only the savings will be far sweeter!

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How to improve your credit score

How to improve your credit score

If you’re planning on applying for a personal loan, prepare to have your credit history placed under the microscope. This information is crucial to lenders, and if you want to get in their good books, you need to make sure your credit score is first-rate.

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Personal loans vs credit cards

Personal loans vs credit cards

When you’re looking for a means of credit to fund an upcoming expense like a holiday, revamping your home or paying for your big day, two main banking products are likely to come to mind - a personal loan or a credit card.

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Debt consolidation and refinancing: how to free yourself from debt

Debt consolidation and refinancing: how to free yourself from debt

Between credit cards, personal loans, home loans and car loans, Aussies have many options open to them when it comes to borrowing money to reach their goals. But while this can be a useful tool, it can also lead to a mound of debt for spenders who don’t manage their credit properly.

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Peer to peer lending in Australia explained

Peer to peer lending in Australia explained

If you're sick of the high interest rates attached to personal loans from the major lenders in Australia, you may be interested in a different type of lending. It's called peer to peer lending or P2P for short.

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Beat the bank loan maze!

Beat the bank loan maze!

There are two ways to ensure you get the best deal and potentially save thousands on your personal loan. Find out what they are, here at Mozo.

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Personal loans vs home loan redraw

Personal loans vs home loan redraw

Got a large expense coming up that needs covering? Been making extra repayments on your home loan? Or maybe a personal loan might suit you instead? 

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Demystifying Personal Loan Fees and Features

Demystifying Personal Loan Fees and Features

Who doesn’t need a bit of financial help, every now and again? Whether it's a car loan for your ideal set of wheels or a wedding loan for your upcoming nuptials, taking out a personal loan can help you reach your dreams sooner.

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Types of Personal Loan

Types of Personal Loan

When you don’t have the money for some of those big ticket items, a personal loan can help you achieve your financial goals. 

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Personal Loan Providers

Personal Loan Providers

Gone are the days when Aussies would only borrow through the big banks, as today there are a great range of lenders from credit unions,  peer to peer players and online lenders offering personal loans with competitive rates, fees and features.

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Is a personal loan or credit card better for travelling?

Is a personal loan or credit card better for travelling?

From the crystal clear waters of Halong Bay in Vietnam to the hustle and bustle of Istanbul’s Grand Bazaar, the world has plenty to offer any avid jetsetter. So if you’ve got the traveller’s itch and can’t wait to head off on your next adventure, it’s time to think about what will be the best way to fund your great exploration - a travel loan or credit card.

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Finding the cheapest personal loan deals

Finding the cheapest personal loan deals

New car, overseas adventure, home renovation, upcoming wedding, baby on the way...there’s plenty of reasons to take out a personal loan.

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Variable rate personal loans

Variable rate personal loans

You click open your savings account only to discover there’s not quite enough money sitting there to fund your much needed new set of wheels. There’s no need to turn sour as there’s a personal loan out there for you, one which will help you drive away with that dream car. 

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Fixed rate personal loans

Fixed rate personal loans

Are you a bit of a worry wart? Someone who likes to stick to a budget? Change doesn’t sit so well with you? If this is all sounding a little like you then a fixed rate personal loan may suit you just right. A fixed rate means the interest rate will remain the same throughout the loan term. So when market interest rates rise and fall your loan will not be affected. You have the security of knowing exactly what you’ll have to make in repayments each month.

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Personal loan repayments

Personal loan repayments

Having the approval of a personal loan up your sleeve can free up so much time and money to do and buy the things you really love, need and want. Think of it as a ‘live for the moment’ ticket to freedom. If you have a secure income with spare dosh to pay off a personal loan, then why not take advantage of a lotta cash at once?

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Small loans

Small loans

So you woke up this morning and decided that having flowers delivered to your door once a week would be a novel thing to do. And we don’t doubt it. There are other ways Mozo might suggest you spend your money, but how you decide to spend it is entirely up to you. Um, you need some spare money to do that right?

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Medical loans

Medical loans

Medical bills can be costly, no matter the size of your procedure. 

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Renovation loans

Renovation loans

Bored of your same old home environment? Craving a little pizzazz? You’re not alone!

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Holiday loans

Holiday loans

To maintain our sanity in this busy world we live in, a holiday can be the perfect remedy to escape the chaos.

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Instant personal loans

Instant personal loans

Whether it's for a dream holiday, a fresh set of wheels or to repair your washing machine, sometimes you need money quick smart. This is where an instant personal loan can help you out.

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Pensioner loans

Pensioner loans

It may be that time in your life where work has become a distant memory, the kids are all out of home and you’re enjoying being a man or lady of leisure.

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Ultimate guide to wedding loans

Ultimate guide to wedding loans

Ding-dong, wedding bells are ringing! If you’ve just started the planning your big day, then you’ve probably got a fair idea of how much it’s going to cost... a lot. But not everyone has a spare $50k lying around, so you might consider taking out a personal loan to cover the cost. Splitting things 50/50 with your fiancé? Taking out a loan for two would be much easier to repay than taking one out on your own, especially if you’re just starting out.

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Low interest personal loans

Low interest personal loans

Jargon jargon jargon. If this is the first time you've considered taking out a personal loan, then the whole concept might seem a little unfamiliar to you. So allow us to run you through the basics. But there's really only a few main things to consider when securing a low-interest personal loan. Will it be secured or unsecured? Fixed-rate or variable-rate?

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Online personal loans - a guide to choosing an online lender

Online personal loans - a guide to choosing an online lender

Is eating lunch at your desk the norm these days? Do you buy your grocery shopping online while bussing-it to work? If you’re even struggling to find time for yourself between work, kids and home, chances are your finances may be a little tired too.

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Bank loans: the ins and outs

Bank loans: the ins and outs

Life is great, but the truth is, some things come with a heftier price tag than others. But that's why banks are here to help: in the form of personal loans. It may be the difference between ‘walking down the aisle’ at your dream wedding or transforming your home into an entertainers delight!

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Short term personal loans

Short term personal loans

Also known as a ‘payday loan’ or ‘fast cash loan’, a short term personal loan is designed to provide you with immediate, small amounts of cash that will tide you over until your next pay cheque.

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Consolidation loans

Consolidation loans

Put your hand up if you’ve ever wished that all your debts would just disappear? You’re not alone.

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Personal loan news

Keep your finger on the bank loan pulse with Mozo's updates, articles and assorted financial lifeblood.