$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
More resources on Finder
More guides on Finder
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OurMoneyMarket personal loans
OurMoneyMarket offers personal loan solutions for whatever your need. Whether you want to buy a new car, pay for your wedding or renovate your home, you can choose between secured and unsecured loan options.
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Secured Personal Loans
Are secured personal loans better than unsecured personal loans and how do they work?
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Pepper Money Unsecured Personal Loan
Find out more about Pepper Money's no fee personal loan and benefit from a competitive rate from 6.95% p.a., zero fees and loan terms of up to 7 years.
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How much can I borrow with a personal loan?
Personal loans offer a range of loan amounts to suit different purposes and budgets. Here's how to get the loan amount you need.
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Citi Ready Credit
If you are looking for a credit card that gives access to a limited balance transfer offer, Visa and dining benefits, look no further than the Citi Ready Credit.
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Unsecured personal loans in Australia
Compare unsecured personal loans from some of Australia's top lenders. Find the best deal on rates, fees and features in seconds.
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Fixed rate personal loans from 5.76% p.a.
We’ve written about fixed rate personal loans and what their advantages are.
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The best personal loans – 5 expert picks
Finder's experts look into our database of over 200 personal loans each month to bring you our Top Picks across 5 key categories.
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Low interest personal loans that’ll peak your… interest
Find a low interest loan by comparing your options with Finder. See interest rates, fees, and features for loans across Australia, plus guides to help you get the best deal.
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Refinance your personal loan
If you're sick of paying too much interest, find out how you can save money when you refinance your personal loan. There is a range of options available and you might get out of debt sooner.
Ask a question
I want to know if its possible for me to receive a $16,000 loan. I’m a student right now with a part-time job. Please let me know, thanks!
Hi Konstantyn,
Thanks for reaching out.
You can check the list of personal loans for casual employees. We have them featured on our website. Check them for lenders who may consider you for a loan. Please note that the total amount you can borrow will depend on the lender’s assessment of your financial condition.
If this interests you, check student loans as well to better explore possible options.
Cheers,
Anndy
i cant get a loan i have more than 20 inquiries on my credit report & my score is 406 who can help me witha $10,00 loan
Hi Linda,
I can’t recommend a specific lender to you, but the lenders on the page above offer loans up to $10,000 to people with bad credit. You can contact them to discuss your eligibility, but generally your income and current financial position will be taken into account.
I hope this helps,
Elizabeth
Hi there i am fr singapore my salary is $2000 possible can i get a loan at around $8000.Need the money in urgent i will settle every month.
Hi Suraj,
Thanks for your question.
Your loan options depend on the status of your residency. You can read more about how you can get a loan as a non-resident through our loans for non-residents guide. On the same page, you can also read possible loan options available to you.
If you are already a resident, you can check your $10,000-loan options featured on our website.
Kindly check the eligibility criteria and requirements to apply before selecting the ‘go to site’ button to submit your loan application.
Cheers,
Anndy
I just went through a bankruptcy, just got a good job, and trying to jumps tart everything so I can do everything right this time. Is there a way I can get a $10,000 loan to help me with that?
Hi Kyle,
Thanks for your question.
In the above page, you can check for lenders that offer bad credit loan for up to $10,000. Please note that these lenders require other eligibility criteria to apply such as income and asset requirement.
To know more about the loan products that a particular lender offers, simply click the “More” button.
Cheers,
Anndy
I am on the DSP….would like a loan of $5000…the least interest the better..i have one tick against me in credit history…who would be the best lender who isn’t judgemental against pensioners…i have found that we get “looked” down on because we are a pensioner..cheers
Hi Sue,
Thank you for your comment.
There are actually lenders that accept personal loan applications from borrowers who are pensioners. Though the approval would still be on a case-by-case basis depending on the lender how they view your credit rating, ability to repay, etc.
Please review the criteria and find more information from our guide on pensioner loans.
Hope this helps.
Cheers,
May
Hi i need to borrow 10000 as to for 2 loans i got for my car bill please asap
Hi Jesse,
You can compare your $10,000 loan options on the page above. Click through to the review pages to confirm your eligibility for the loan and once you find a loan you are eligible for and want to apply for, click “Go to Site” to submit your application.
I hope this helps,
Elizabeth