Top Personal Loans for August: Compare Rates and Terms

Starting at 5.95% APR, OurMoneyMarket offers a compelling choice for those with strong credit histories. The lack of ongoing fees and a Rate Beat guarantee make it particularly appealing, though its five-year term cap might be a limitation.

Harmoney stands out with its market-leading 5.76% APR for unsecured loans. However, the maximum loan amount is capped at $70,000, potentially limiting for those needing larger sums. Its fully online process is a boon for tech-savvy borrowers.

Liberty Financial offers both secured and unsecured loans, starting at 5.67% APR. Its flexible lending criteria cater to non-standard borrowers, but the absence of a branch network might deter those preferring in-person support.

With a starting rate of 6.17% APR and no monthly fees, Plenti is ideal for borrowers who value a digital lending experience. Fast funding within 24 hours is a highlight, though the maximum loan amount is lower compared to some competitors.

ING offers a competitive fixed rate starting at 6.19% APR, perfect for those wanting stability in their repayments. Its fully online application process is convenient, but the lack of a variable rate option might be a drawback for some.

ANZ provides both fixed and variable rate options, starting at 7.49% APR. While it offers big-bank security, the higher minimum rate compared to fintech competitors might not appeal to those seeking the lowest possible rate.

Commonwealth Bank's personal loans offer both fixed and variable rates, starting at 7.25% APR. The convenience of managing repayments through their app is a strong point, though the $250 establishment fee on unsecured loans might be off-putting.

Westpac offers discounted electric car loans from 6.49% APR, a good option for eco-conscious borrowers. However, its unsecured rates are higher than those of some fintech competitors, which might be a consideration for rate-sensitive borrowers.

NAB's personal loan caps rates at 12.99% APR, providing assurance against high rates for those with less-than-perfect credit. The waiver of the $250 application fee until July 2026 adds to its appeal, though its maximum loan amount is lower than some competitors.