Personal Loan Picks: Best Rates and Features This September

ING's personal loan offers a fixed rate starting at 6.19% p.a., appealing to borrowers seeking stability and predictability in their monthly payments. It's a digital-first option with no early repayment fees, which is ideal for those who prefer managing finances online. However, the lack of a variable rate option might deter those looking for potential savings if rates fall.

Liberty Financial stands out with secured loans starting at 5.67% p.a. This lender is perfect for borrowers who don't fit traditional bank criteria, providing flexibility and higher loan amounts up to $80,000. Yet, personalization of rates means riskier profiles might see higher costs.

Harmoney offers the lowest unsecured rate at 5.76% p.a., making it an excellent choice for borrowers with strong credit. The fully online, transparent process, and no credit score impact for rate checks are major advantages. However, the establishment fee and higher rates for riskier profiles can be drawbacks.

ANZ provides both fixed and variable rate options, starting at 7.49% p.a. This big-four bank is reliable for those who value in-person support through its strong branch network. However, the higher minimum rate compared to fintechs and potential fees could be off-putting for some.

Westpac offers personal loans from 7.00% p.a., with attractive options for electric and secured car loans. It caters to existing customers and eco-conscious borrowers with discounted green car loan rates. However, the $250 establishment fee and higher median rates might deter budget-conscious applicants.

NAB's tight rate band of 7.50% to 12.99% p.a. ensures even high-risk borrowers get relatively lower rates compared to competitors. With no exit fees and the current waiver of the $250 application fee, it's attractive for those seeking reliability and cost savings. The $15 monthly fee, however, adds ongoing costs.

Plenti offers competitive unsecured loan rates from 6.17% p.a. with perks like no monthly fees and fast funding. It's suitable for tech-savvy borrowers who appreciate a fully digital process. The establishment fee can range from 0-6%, which might add initial costs for some.

Commonwealth Bank provides a solid mix of fixed and variable rate loans with options for secured car loans starting at 6.79% p.a. Existing customers benefit from seamless in-app management. The $250 establishment fee and early repayment adjustments on fixed loans can be limiting factors.

OurMoneyMarket's unsecured loans start from 5.95% p.a., offering no ongoing monthly fees and a Rate Beat guarantee, making it an excellent choice for cost-conscious borrowers with strong credit. The maximum term of 5 years might not suit those looking for longer repayment plans.