9 Best Personal Loan for International Students in Australia: (Best Lenders)

For international students studying in Australia, managing finances can be a challenge.

While scholarships and part-time work opportunities are great, sometimes you may need a personal loan to help with living expenses, tuition fees, or other unexpected costs.

Personal loans can provide a financial cushion, and several Australian lenders offer loans to international students, albeit with certain requirements like a co-signer and proof of enrollment.

In this article, we will explore the 9 best personal loans for international students in Australia.

We’ll compare loan amounts, interest rates, loan terms, and eligibility criteria to help you find the right fit for your needs.

Best Personal Loan for International Students in Australia

Loan Provider	Loan Amount	Co-signer Requirement	Interest Rates	Loan Terms	Eligibility Requirements
Commonwealth Bank	Up to AUD 50,000	Yes	6.99% – 13.5%	1 – 7 years	International students enrolled at recognized Australian universities
ANZ Bank	Up to AUD 40,000	Yes	7% – 14%	5 – 7 years	International students with an Australian student visa
Westpac	Up to AUD 60,000	Yes	6.5% – 12.5%	5 – 10 years	Full-time international students with proof of enrollment
NAB Bank	Up to AUD 35,000	Yes	7.5% – 13%	5 – 7 years	Students with an Australian student visa
Bank of Melbourne	Up to AUD 45,000	Yes	6.75% – 12%	5 – 7 years	International students enrolled at recognized institutions
College Ave Student Loans	Up to $80,000	No	5.99% – 12.99%	5 – 15 years	Students enrolled in an eligible institution (international option)
Bendigo Bank	Up to AUD 40,000	Yes	6.5% – 11.5%	5 – 10 years	Students with valid student visa and enrolled in a university
Latitude Financial	Up to AUD 50,000	Yes	7% – 14%	5 – 7 years	International students with Australian student visa
Suncorp Bank	Up to AUD 35,000	Yes	6.25% – 13%	5 – 7 years	Full-time students with proof of enrollment and Australian visa

1. Commonwealth Bank

• Loan Amount: Up to AUD 50,000
• Interest Rates: 6.99% – 13.5%
• Loan Terms: 1 – 7 years

Commonwealth Bank provides personal loans with a borrowing limit of up to AUD 50,000.

The interest rates range from 6.99% to 13.5%, and the loan term can be chosen between 1 and 7 years.

International students need to be enrolled in an accredited Australian university, and a co-signer is typically required.

2. ANZ Bank

• Loan Amount: Up to AUD 40,000
• Interest Rates: 7% – 14%
• Loan Terms: 5 – 7 years

ANZ offers personal loans up to AUD 40,000. The interest rates range from 7% to 14%, and the loan term varies from 5 to 7 years.

International students with a valid Australian student visa and full-time enrollment in an accredited institution can apply. A co-signer is required.

3. Westpac

• Loan Amount: Up to AUD 60,000
• Interest Rates: 6.5% – 12.5%
• Loan Terms: 5 – 10 years

Westpac offers personal loans with a borrowing limit of up to AUD 60,000.

The interest rates range from 6.5% to 12.5%, and the loan term can range from 5 to 10 years.

International students can apply if they are enrolled full-time at a recognized Australian university. A co-signer is typically required.

4. NAB Bank

• Loan Amount: Up to AUD 35,000
• Interest Rates: 7.5% – 13%
• Loan Terms: 5 – 7 years

NAB provides personal loans up to AUD 35,000 for international students with an Australian student visa.

The interest rates are between 7.5% and 13%, and the loan term ranges from 5 to 7 years. A co-signer is required for this loan.

5. Bank of Melbourne

• Loan Amount: Up to AUD 45,000
• Interest Rates: 6.75% – 12%
• Loan Terms: 5 – 7 years

Bank of Melbourne offers personal loans up to AUD 45,000 with interest rates ranging from 6.75% to 12%.

The loan term can be between 5 to 7 years, and it is available to international students enrolled at eligible Australian institutions. A co-signer is also required.

6. College Ave Student Loans

• Loan Amount: Up to $80,000
• Interest Rates: 5.99% – 12.99%
• Loan Terms: 5 – 15 years

College Ave Student Loans offers personal loans with a maximum borrowing limit of $80,000.

Interest rates range from 5.99% to 12.99%, and loan terms can span from 5 to 15 years.

One of the benefits is that a co-signer is not required, making it an excellent choice for international students who may not have one available.

7. Bendigo Bank

• Loan Amount: Up to AUD 40,000
• Interest Rates: 6.5% – 11.5%
• Loan Terms: 5 – 10 years

Bendigo Bank offers personal loans up to AUD 40,000.

The interest rates range from 6.5% to 11.5%, with loan terms of 5 to 10 years.

International students with a valid Australian student visa can apply, but a co-signer is required.

8. Latitude Financial

• Loan Amount: Up to AUD 50,000
• Interest Rates: 7% – 14%
• Loan Terms: 5 – 7 years

Latitude Financial offers loans of up to AUD 50,000 with interest rates between 7% and 14%.

Loan terms are flexible, ranging from 5 to 7 years.

A co-signer is required, and international students with an Australian student visa are eligible to apply.

9. Suncorp Bank

• Loan Amount: Up to AUD 35,000
• Interest Rates: 6.25% – 13%
• Loan Terms: 5 – 7 years

Suncorp Bank provides personal loans of up to AUD 35,000 with interest rates ranging from 6.25% to 13%.

The loan term can range from 5 to 7 years, and international students with a valid student visa and proof of enrollment can apply. A co-signer is required.

Quick One: We have other useful loan articles here.

Frequently Asked Questions

Conclusion

Finding the best personal loan as an international student in Australia can be challenging, but it’s certainly achievable with the right research.

The 9 best personal loans listed above offer various loan amounts, interest rates, and terms to suit different financial needs.

Whether you need a co-signer or prefer a loan that doesn’t require one, there are options available to help you manage your finances while studying in Australia.

Make sure to consider the eligibility requirements and interest rates carefully before applying for a loan.