We currently don't have that product, but here are others to consider:
How we picked theseTaking out a personal loan is probably the simplest way for most borrowers to get a $5,000 loan.
Most people looking for a $5,000 loan will choose an unsecured personal loan. These loans are easier to get and you don't have to put up a car as security.
Secured personal loans typically require a new (or newish) car as security. While some lenders may offer you a lower rate (because the loan is lower risk to the lender), these days the lowest unsecured personal loan rates are often just as low.
The exact cost of a $5,000 personal loan depends on:
Loan value | Loan term | Interest rate | Monthly fee | Monthly repayments | Total loan cost |
|---|---|---|---|---|---|
$5,000 | 3 | 7% | $10 | $165 | $5918 |
$5,000 | 4 | 10% | $5 | $132 | $6,328 |
$5,000 | 5 | 12% | $8 | $120 | $7,154 |
When you apply for a personal loan it's important to consider the different fees, interest rates and loan terms. As you can see, a 5 year loan term with a higher interest rate will give you lower monthly repayments, but you'll end up paying much more in fees and interest over the loan period.
These are just simplified examples that don't take your personal circumstances into account. Use a personal loan repayment calculator to figure out your own loan costs.
Every personal loan has a comparison rate, but most lenders calculate these rates based on different loan sizes, typically $30,000 or $10,000. So these rates don't always reflect the costs for a $5,000 loan.
Check your credit score for free through Finder
If you have bad credit you might find it harder to get a personal loan. A small loan amount like $5,000 might be accepted by some lenders, but you'll probably find you have a higher interest rate.
Borrowers with bad credit who need money quickly often turn to payday loans or bad credit loans, but these solutions are usually very costly and can make your debt situation worse.
Beware of lenders whose websites mention "guaranteed approval" for small loans. The truth is any regulated lender will perform some kind of check on your credit score and suitability as a borrower before lending you $5,000.
These lenders are often going to charge you very high interest rates and fees.
If a lender is truly promising you "a small personal loan with guaranteed approval" they are likely a scam. You can check ASIC's register to see if a lending business is appropriately licensed.
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
If a personal loan doesn't work for you and you'd rather avoid a pricey payday loan, you could consider one of the following:
"A credit card might be tempting as a rolling credit solution, particularly if you already have one. But if you need the money to cover a single $5,000 purchase, a credit card is rarely the answer.
With high interest rates and a short interest-free period, you would need to be confident you could pay off the money quickly. Interest free periods are usually around 44 days, but after that you would pay a much higher rate than with a personal loan."
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.
Read Finder's review of OurMoneyMarket's Secured Personal Loan. See if this loan is right for you.
This secured loan may be used for any worthwhile purchase and requires security against a vehicle. It uses risk-based pricing, so your interest rate will be set based on your credit score and history.
A risk-based personal loan from one of Australia's biggest non-bank lenders. Get a personalised rate which rewards higher credit scores.
A marketplace personal loan with personalised interest rates.
Personal loans offer a range of loan amounts to suit different purposes and budgets. Here's how to get the loan amount you need.
An unsecured personal loan with zero fees and interest rates personalised to your risk profile.
Why not be rewarded for your good credit history? MoneyPlace offers unsecured personal loans with rates starting at 8.49% p.a. – finance a range of personal purposes and borrow up to $80,000. Read the review and see if you're eligible to apply.
Temporary Australian residents may be eligible to apply for personal loans, depending on the visa they hold.
Not all personal loans come with endless documentation. Some lenders specialise in quick and easy application processes.
Use a personal loan calculator to work out your repayments or compare loans with a comparison calculator.
I want to apply for 1000 loan
Hi Ali,
You can compare lenders above and check the eligibility criteria by clicking through to the lender’s review pages. Once you find a lender you are eligible for and want to apply with, you can submit your application by clicking “Go to Site”.
Hope this helps,
Elizabeth
Hi Sonya
I have been off work for the past few months receiving treatment for breast cancer. Having used most of my savings I have been on centrelink payment since January.
I now have the all clear and return to work at the end of May. My gross weekly pay is $4750.
I would like to borrow $5000 for no more than 6 months. What can you suggest?
i really need some help over the last few month I have got myself in bad credit and am about to lose a lot of my stuff in cash converters and that would break my heart so if there is any one out there that could help me ii would be so very thank full
Hi Tanya,
Lenders offering $5,000 for bad credit are outlined on the page above, but your whole financial circumstances will be assessed before you are approved for the loan. You will need to think about your ability to afford the loan and also your alternative options. For instance, you may be able to call Cash Converters to work out an alternative payment plan and say you are under financial hardship.
If you want to apply for a loan, getting in contact with lenders before applying is a good step to take to ensure you are eligible.
I hope this helps,
Elizabeth
Hi Ann,
I can’t recommend any specific options for you, unfortunately, but if you’ve been receiving Centrelink benefits you might want to consider some lenders (both bank and alternative) through our Centrelink loans page. You can also give the free financial counselling service a call for some free financial advice on 1800 007 007.
I hope this has helped,
Elizabeth
i just need help with getting car fixed and pay some bills
Hi Sonya,
You can find loans up to $5,000 available on the page above. You can click through to the review page to find out more information on each loan, including fees and rates as well as eligibility criteria, and once you’ve found a loan you want to apply for and are eligible for, you can click “Go to Site” to submit your application.
Hope this helps,
Elizabeth
Whats my status
Hi Chris,
Thanks for your enquiry.
We don’t have access to your application, so you’ll need to get in contact with the lender you applied with.
Sorry I couldn’t be of more assistance,
Elizabeth
Can i get 5000 dollar loan for.a truck.Its a must if i want to get a job
Hi Chris,
Lenders often ask the purpose of your loan at the time of application, but as these loans are unsecured what you do with the loan amount is largely up to you.
Hope this helps,
Elizabeth