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Variable Interest Rate Personal Loans – Compare Top Lenders with Get Approved Loans
When flexibility matters, a variable interest rate personal loan can be the smart choice. At Get Approved Loans, we take the stress out of loan shopping by helping you compare real offers from over 60 lenders across Australia—all in one place, using our powerful AI-driven platform.
What is a Variable Interest Rate Personal Loan?
A variable interest rate personal loan is a type of loan where the interest rate can change over time. This means your repayments may go up or down depending on market conditions and decisions made by the lender. These loans are popular for borrowers who want flexibility and the ability to make extra repayments without penalties.
Variable rate loans often include features such as:
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Lower initial interest rates compared to fixed loans
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Ability to make extra repayments at any time
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Redraw facilities (depending on the lender)
If you’re comfortable with a little fluctuation in your monthly repayments, a variable rate loan can help you save money in the long run.
Variable vs Fixed Rate Personal Loans – Which is Better?
Choosing between a variable or fixed rate personal loan depends on your priorities:
Fixed Rate Loans
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Lock in your rate for the life of the loan
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Predictable monthly repayments
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Ideal if you need budgeting certainty
Variable Rate Loans
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Interest rate can go up or down
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Often start with lower rates
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More flexible (extra repayments, redraw, early payout options)
If you’re focused on budgeting and stability, fixed might suit you better. But if you want the freedom to pay off your loan early or benefit from falling interest rates, a variable interest rate personal loan could be the better option.
What is the Current Variable Interest Rate?
In Australia, variable personal loan rates typically range from 6.5% to 14.99% p.a., depending on the lender and your individual profile. Your credit score, income, loan amount, and whether the loan is secured or unsecured will all impact the rate you’re offered.
Popular Variable Rate Loan Providers in Australia
Some of the most well-known lenders offering variable interest rate personal loans include:
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Commonwealth Bank (CommBank) – Offers competitive variable rate personal loans with flexible repayment options
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Westpac – Provides both secured and unsecured variable loans with redraw options
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St.George – Known for personalised service and special rates for existing customers
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ANZ – Offers fast online applications and flexible loan features
At Get Approved Loans, we go beyond the Big Four—comparing over 60 lenders to help you find a better deal, faster.
Why Choose Get Approved Loans?
At Get Approved Loans, we use smart technology and real-time data to help Aussies secure the best personal loan for their needs—without the runaround.
Here’s how we make it easy:
Nationwide Access to 75+ Lenders
Our AI comparison tool includes banks, non-bank lenders, and credit unions across Australia.
Smart AI-Powered Loan Matching
Our system analyses your details and instantly matches you with lenders offering competitive variable rate loans.
Fast Approvals & Same-Day Funding
Get pre-approved in minutes and access same-day personal loans, depending on the lender and your eligibility.
Flexible Loan Amounts & Terms
Borrow from as little as $2,000 up to $75,000, with loan terms to suit your lifestyle and financial goals.
Secured vs Unsecured Variable Rate Loans
There are two main types of personal loans to choose from:
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Backed by an asset (like a car or property)
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Usually lower interest rates
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Higher borrowing limits
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Risk of asset repossession if you default
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No collateral required
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Faster approvals and less paperwork
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Slightly higher interest rates
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Ideal for smaller loan amounts or short-term needs
We help you compare both secured and unsecured variable rate options—so you can choose the one that works best for your goals.
Fixed Rate Loan Frequently Asked Questions
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Can the interest rate on a variable loan increase suddenly?
Yes, variable rates can rise or fall depending on the lender and market conditions, including changes in the RBA’s cash rate. It’s important to consider how a rate rise could affect your budget.
Do variable rate loans allow early repayments?
Most variable rate personal loans let you make extra repayments at any time—and often without penalties. This can help you pay off your loan faster and save on interest.
Is it easier to get approved for a secured or unsecured loan?
Secured loans may be easier to get approved for if you have a valuable asset to offer. However, many lenders also offer competitive unsecured options for borrowers with good credit.
How do I know if I’m getting the best rate?
Using Get Approved Loans takes the guesswork out of comparison. Our AI-powered platform matches you with real loan offers from 60+ lenders—so you can easily see which rate and loan terms are best for your situation.
Apply for Finance in 5 minutes
Applying for a variable rate personal loan with Get Approved Loans is quick and easy—simply complete our online application, compare options from over 60 lenders, and get approved in minutes!
Step 1
Input
Enter your details into our AI-powered options tool, and it will instantly calculate and present the best available options for you!
The more information you provide, the more precise your loan options will be.
Step 2
Compare
Let our AI options tool handle the work instantly—no waiting required!
With access to over 75 lenders, our AI options tool will personalise and present the best results tailored to your priorities.
Step 3
Choose
Now comes the easy part! Choose from the list of lenders, and if you need more clarity, the platform can provide detailed insights to help you find exactly what you’re looking for.
For a more personal touch, our Customer Service Consultants are always available to chat.
Ready to Compare Variable Rate Loans?
Whether you want flexible repayments, the ability to pay off your loan early, or just a better deal from more lenders, Get Approved Loans is here to help.
Apply online in minutes and let our smart platform do the heavy lifting—so you can borrow better, faster, and smarter.
