$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
hello im on a carers pension and wish to borrow $8000.00 its for a partnership visa with repayments of $500.00 per mth over a 12mth year period
Hi Bruce,
Thanks for your question.
As you can see from the page above there are a few lenders you can consider. I’m unable to recommend any specific lenders to you but you can compare your lenders and check your eligibility above. Click through to the review pages by selecting the name of any lender you are interested in, and once you have found a loan you want to apply for and are eligible for you can click “Go to Site” to complete your application.
I hope this has helped.
Thanks,
Elizabeth
How do you get approval
Hi Kendrick,
There’s no one surefire way to be approved for a loan, but by checking you meet the minimum eligibility criteria you can make sure you are eligible to submit your application. This criteria is listed on each review page on finder.com.au and also on each of the lender’s websites.
I hope this has helped.
Thanks,
Elizabeth
what finance companies offer unsecured or secured personal loans with bad credit rating
Hi Tammy,
There is a list of lenders on the page above.
Hope this has helped.
Thanks,
Elizabeth
I have a mortgage of $190000 and loans of $30000 and want to borrow another $40000 for a new car. And want to consolidate it all into one easy monthly repayment . Who can help me ? Cause I’ve been refused by mayor lenders ?
Hi Minh,
Thanks for your question.
You can compare your options for debt consolidation on this page. You can also refer to our guide on debt consolidation with bad credit. Before taking out one of these loans, you should work out how much money you can actually save on interest and fees. It is also important to consider adding any break costs or early repayment fees from your existing loans. Also, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.
I hope this will be of use.
Thanks,
Elizabeth
Hi, I have a good credit rating and a full time job. I would like to borrow $10,000 over 18months. What is the best and lowest rate option.
Hi Jennifer,
Thanks for your question.
With good credit and a full-time job, you have more options open to you. The right personal loan for you depends on what you want to use the loan for (for instance, if you want to buy a car you might want to consider a car loan).
You can compare your personal loan options and check for eligibility and requirements from each lender. Enter your desired loan amount at the top of the table and you can see your estimated repayment amounts for each of the loans. Select the titles of the columns (interest rate, application fee, etc.) and the table will sort from lowest to highest. To find out if you’re eligible, click on the name of the loan and read the review and the eligibility criteria. You can then click “Go to Site” to head to the lender’s site and submit your application.
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.
I hope this will help you compare your options and find the right loan for you.
Thanks,
Elizabeth
I’m looking for a $10,000 loan but I’d need 3-5 years to pay monthly payments. It’s to start a business
How do I get a loan of 10.000 to start up a business need it like by Monday payment 3 to 5 years monthly I am from Suriname
Hi Rena,
Unfortunately this is an Australian financial comparison website and the lenders you can compare here only offer loans to current residents of Australia. You’ll need to get in contact with a bank or lender in Suriname for a business loan.
Thanks,
Elizabeth
Hi James,
Thanks for your question.
You may refer to our comparison of business loan options, including small business loans, invoice financing, lines of credit and business car loans.
You can select the “Go to Site” button of your preferred lender to proceed with your application. You can also contact them directly if you have specific questions. Before you apply, make sure you carefully read over the eligibility requirements and terms and conditions and ensure you have organized the necessary documents before beginning the application.
I hope this information will be of use.
Thanks,
Elizabeth