$10,000 loans in Australia
If you want to borrow $10,000, look for a personal loan with a low interest rate and fees. Get a better deal by improving your credit score.
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How do I compare $10,000 loans?
There are a few things to look out for while comparing $10,000 loans. You should keep in mind the following when making comparisons:
| Feature | Explanation |
|---|---|
| Interest rate | The percentage of the loan the lender charges you for borrowing. A lower rates means lower monthly interest charges. |
| Fixed or variable | A fixed interest rate locks you into a single interest rate for the entirety of the loan. Variable rates can change, either go up or down. |
| Fees | Many loans charge a one-off establishment fee as well as a monthly service fee. Other fees to watch for include early repayment fees, early break fees, and redraw fees. |
| Loan term | How long you have to repay the loan, with most personal loans allowing you to borrow for up to seven years. Choosing a shorter loan term means you pay more back each month, but also reduces the amount of interest you pay over the life of the loan. |
| Security | Borrowers often use secured personal loans when buying a car. The car is security for the loan if you can't repay it. But many lenders offer competitive unsecured loans that don't require any security. |
| Repayment schedule | Many loans allow you to choose from weekly, fortnightly or monthly repayments. |
| Loan purpose | Most unsecured loans are for "any worthwhile purchase", and can be used for anything from weddings to holidays, to electronics or a car. Some loans, such as green loans or debt consolidation loans, must be used for a specific purpose. |
How much will a $10,000 loan cost per month?
Your monthly repayments depend on the loan you choose and the rate you are offered. The loan term, interest rate and fees largely determine how much you'll end up paying. If you opt for a risk-based loan, your interest rate will be personalised based on your credit score, with higher scores being offered lower rates.
The table above shows the monthly repayments for a $10,000 loan with a 3 year term. You can put in your loan details and get an indication of what your monthly repayments will be. You can also use a personal loan calculator.
Calculate the cost of your $10,000 loan
Your personal loan details
Loan amount
$
Term
Repayment type
Interest rate
%
Monthly fee
$
Interest only period
Payment frequency
Extra monthly repayments
$
Overview of your loan
Once the interest only period ends, your estimated repayments will be
(including extra )
Total loan repayments:
Total interest / fees payable:
By making extra monthly repayments of
Your loan term could reduce by:
You could pay less interest, saving:
| Years remaining | Principal remaining |
|---|
Calculator Assumptions: The above calculations are worked out assuming you're paying off a principal and interest loan where the interest rate remains the same over the life of the loan. The repayment amounts do not take into account any additional fees or charges that may be charged to your loan (e.g. application fees).
Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as indication only. They are neither a quote nor a pre-qualification for a loan.
What types of $10,000 loans are there?
Personal loans
- With a personal loan, you can get access to funding to pay for a variety of large purchases or expenses. These can include medical bills, home renovations, weddings or holidays. These loans can either be secured (by an asset such as your home or car) or unsecured. The amount you can borrow varies from $2,000 up to $100,000, depending on the type of loan. Secured loans usually have higher borrowing limits than unsecured loans as they are less risky to the lender.
Car loans
- Car loans can be either secured or unsecured, and the money is limited to the purchase of the car. Borrowers with poor or limited credit history can increase their chances of approval by going for a secured car loan. As with any secured loan, there is always the risk of losing the asset if you're unable to meet your repayments.
Business loans
- If you're looking to borrow for business purposes, you can explore the option of a business loan. These loans typically come with higher borrowing limits than personal loans with amounts up to $20,000,000. How much you can borrow will depend on the lender, the type of business loan, your annual turnover, your company's credit rating and the purpose of the loan.
$10,000 loan vs credit cards
$10,000 is a large amount of money for most people. It's a large personal loan. It's a massive credit card debt.
Personal loans have lower interest rates on average than credit cards, and scheduled repayments with a set end date.
With credit cards, it's possible to build up a large debt and take years to pay it off. The interest charges can really start to add up.
Is a credit card with a $10,000 limit ever a better option?
If you can qualify for a card with a $10,000 limit you (hopefully) have a reasonable income and an Excellent credit score.
Even so, the card won't let you spend $10,000 in one go. But you could use a card like this to cover multiple transactions over time.
If you're diligent about paying them off, and take advantage of interest-free periods, you could avoid paying huge amounts of interest.
Why compare personal loans with Finder?
Addicted to details. We know taking out a personal loan is something you'll be hooked up with for a while. That's why we put hours into research for this guide (and still do at least once a month)
Rates obsessed. Lenders come in all shapes and sizes, that's why we don't just track the big banks, but all the digi folk too. Pretty much everyone but your parents to be honest. 
Cash for whatever you need. Lending rates verified from 180+ products day and night. Whether you're buying a car, rennovating your home or heck just ready to let loose with the spending - we got you.
FAQs about 10,000 loans
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Ask a question
Hi, I urgently need between $6000 and $7500.
My credit score is around 550, I have a boat that I could use as collateral and possibly a guarantor. I have a full time job. and can afford up to $150 per fortnight. will there be someone who can help me?
Hi Andrew,
Thank you for reaching out to Finder.
The page offers us a list of lenders that you could reach out to. The loan amount may depend on your qualification to get approved by the loan. Having collateral or a guarantor raises your chances of getting the loan amount you are looking for. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!
Cheers,
Reggie
I work full time with a great wage and have been with the company for over 7 years but I have a bad credit due to a bad separation over 7 years ago, am I able to get a car loan?
Hello Sarah,
Thank you for your comment.
I am sorry about what happened to your credit record. Anyway, there are lenders that can consider you for a car loan despite you having bad credit. Please refer to our bad credit car loans page. The page will guide you on how to compare car loans for bad credit. Please take note that bad credit car loans usually have higher interest rates than regular loans and will often have higher fees as well.
After comparing please, click the Go to Site button to apply. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.
Regards,
Jhezelyn
how do i apply for a loan
Hi Doris,
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
Tips on being approved if you have bad credit
Review the eligibility criteria: Do this before you apply to make sure you are eligible. Look for things like minimum income, employment requirements, etc.
Submit all necessary documents: Check what documents are needed and make sure you are able to send everything that is required.
Consider a joint application or guarantor: This can help get your application across the line.
Once you’re all set, you can choose the lenders on the page provided.
Hope this helps! Feel free to message us anytime should you have further questions.
Cheers,
Nikki
Hi,
I’m looking for a loan of about $10,000 so I can pay for my wife’s visa and unfortunately I’m still in my part 9 with only a year to go.
Hi Chris,
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
You can take out a loan even if you have bad credit, however, this would be with non-traditional lenders.
Before you even apply for a loan, review the eligibility criteria you need before you apply to make sure you are eligible. Look for things like minimum income, employment requirements, etc.
Make sure that you submit all necessary documents. Check what documents are needed and make sure you are able to send everything that is required. You may also consider a joint application or guarantor. This can help get your application across the line.
There are usually certain requirements you’ll need to meet and you may be required to secure the loan with an asset. Some lenders may also allow you to submit a joint application if you don’t meet the criteria, so find out about all the options you have to help your chances of being approved. The interest rate on these loans is usually set on an individual basis.
You can choose from the lender’s list in the information above. Hope this helps! Feel free to message us anytime should you have further questions.
Regards,
Nikki
I need a loan of 10000 to 15000 i am currently unemployed as i have a broken neck and my credit score is 666 i have a guarantor to help this along. But dont know who would be the best to go through someone please help me
Hi Luke!
Thanks for your questions and for contacting finder.
Sorry to hear that you’re unable to work. Hope you get better soon!
No need to worry as we have guarantor loans available for your review. A guarantor loan is asking someone to guarantee your loan and to take on your debt if you default on your loan. If you agree to go guarantor on someone’s loan, you become legally responsible for the debt if they become unable to manage their repayments.
If you are a guarantor and you apply for further credit of your own, you will need to list the guarantee on your application. You may also have put up an asset to guarantee someone’s loan, such as equity in your home or a car, and you will no longer be able to use that asset as your own collateral for credit.
Hope you find this information useful.
Thanks and best regards,
Nikki