We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
Taking 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 cost |
|---|---|---|---|---|---|
| $5,000 | 3 | 7% | $10 | $165 | $918 |
| $5,000 | 4 | 10% | $5 | $132 | $1,328 |
| $5,000 | 5 | 12% | $8 | $120 | $2,154 |
It's important to consider the different fees, interest rates and loan terms when you apply for a personal loan. 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.
The personal loan comparison rate takes into account both the loan's interest rate and the cost of fees. It's designed to help you understand the true cost of a loan.
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
Borrowers with bad credit who need money quickly often turn to:
When borrowing as much as $5,000, short-term loans and bad credit loans are going to become very expensive. These loans have higher interest rates and hefty fees. This makes any loan expensive, but the more money you borrow the worse it gets.
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.
The following lenders offer loans up to $5,000 for bad credit applications. Be sure to compare lenders before applying:
| Lender | Loan amount | Eligibility criteria | Find out more |
|---|---|---|---|
Fair Go Finance | $500 to $5,000 |
| |
nmoni | $2,001 upwards |
| |
Swoosh Finance | $2,200 to $4,584 |
| |
Nimble | $500 to $5,000 |
| |
Rapid Finance | Varies |
| |
Wallet Wizard | $500 to $8,000 |
| |
MoneyMe | $5,000 to $50,000 |
| |
Cash Converters | Up to $4,600 |
|
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:
You could get a credit card with a $5,000 credit limit. But it's probably a bad idea if you have to cover a single $5,000 purchase.
The card's transaction limit might not allow you to spend this much in one go.
And if you don't pay off the card within the interest free period (usually up to 50 days) then you'll pay interest at a much higher rate than a personal loan. And there's no end date with a credit card debt. If you're not disciplined in pay the card off you could be paying interest for years.
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.
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.
Are secured personal loans better than unsecured personal loans and how do they work?
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.
Personal loans offer a range of loan amounts to suit different purposes and budgets. Here's how to get the loan amount you need.
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.
Compare unsecured personal loans from some of Australia's top lenders. Find the best deal on rates, fees and features in seconds.
We’ve written about fixed rate personal loans and what their advantages are.
Finder's experts look into our database of over 200 personal loans each month to bring you our Top Picks across 5 key categories.
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.
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.
How do l apply for a loan to pay some nills
Hi Timothy,
Thanks for your question.
You can start by comparing your options on the page above. You can review the loan details on this page or click on the name of the loan/lender to go through to the review page and find out more information. Once you find a loan you’re eligible for and that you want to apply for, click “Go to Site” to submit your application.
I hope this has helped.
Thanks,
Elizabeth
I NEED A LOAN WHAT DO I DO TO GET ONE
Hi Shantina,
You can start by comparing your loan options on the page above. Once you’ve found a loan you’re eligible for and that you want to apply for, you can click “Go to Site” to submit your application.
I hope this has helped.
Thanks,
Elizabeth
so that is the lowest amount to pay the loan off is to pay over a $1k a month
Hi Sandra,
The amount you pay depends on how much you borrow. For loans up to $2,000 you can use the payday loan calculator on this page, but you won’t pay more than a 20% establishment fee and a 4% monthly fee. For loans between $2,001 and $5,000 repaid between 16 days and 2 years, you will not pay more than a one-off fee of $400 and a maximum annual rate of 48%, which includes all other fees and charges.
I hope this has helped.
Thanks,
Elizabeth
Hi I want to apply a loan $6000 for additional payment visa to my wife and kids. but i do have 1 part agreement goin on. I do have a fulltime job.
Please let me know any lenders happy to lend me the loan even 5years repayment.
Thanks,
cholan79
Hi Lanieto,
Thanks for your question.
As a Part 9 Agreement is a form of bankruptcy, you might want to take a look at our guide on bankruptcy loans. A list of lenders are available that you may consider you for a loan and you can contact them to see if they are able to offer up to $6,000. We do have a list of lenders offering larger loan amounts Select ‘More’to learn about the lender.
Before applying for a loan, 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 has helped.
Thanks,
Elizabeth
Hi i want to apply for a loan about $2500. but i do have part 9 agreement going on. i do have steady income because i work full time. income clearly display in my back account.
please let me know any lenders happy to lend me the loan in this situation.
thanks
wijesundan
Hi Wijesundan,
Thanks for your inquiry.
As a Part 9 Debt Agreement is a form of bankruptcy, lenders have particular criteria when it comes to approving borrowers in your situation. We have written a guide on borrowing while a current or discharged bankrupt that contains a list of lenders who you may be eligible to apply with.
You can press the “Go to site” button of your preferred lender to proceed with your application. You can also contact the provider if you have specific inquiries about the loan.
A gentle reminder, 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 helps.
Thanks,
Elizabeth