Liberty Personal Loan Australia Flexible credit up to $80,000 at 7.24% fixed with no ongoing fees

Liberty Personal Loan in Australia delivers flexible unsecured credit from $5,000 up to $80,000 with a competitive fixed rate of 7.24% per annum and no ongoing fees. Designed for everyday Australians, this product lets you borrow what you need and only pay interest on the amount you use, making it ideal for holidays, renovations or an emergency buffer.

Key features that matter

Liberty Personal Loan offers a fixed interest rate of 7.24% per annum, a free redraw facility and a debit card for easy access to funds. Repayments can be weekly, fortnightly or monthly, so you can match repayments to your pay cycle and manage cashflow the way you prefer.

You can apply for credit up to $80,000 but only incur interest on the drawn balance, not the entire limit. With no ongoing, redraw, early termination or discharge fees, Liberty positions itself as a straightforward, low-hassle personal loan option in the Australian market.

Costs, fees and transparency

Aside from the fixed 7.24% rate, the only potential upfront cost is an establishment fee that varies by risk band and is capped at $950. There are no ongoing monthly or annual account fees, which keeps the effective cost down for borrowers who need flexible access rather than a lump-sum loan.

Because Liberty charges interest only on what you use, the overall expenses can be lower than a traditional fixed loan where you pay on the full amount. That makes the Liberty Personal Loan particularly attractive for people who want an on-demand credit line without hidden charges.

How the loan works in practice

After approval you receive a credit limit and can draw funds as required; interest is applied to the outstanding balance at 7.24% per annum. The free redraw lets you pay extra when you have spare cash and access it again without penalty — a practical tool for smoothing irregular expenses.

Funding is quick, especially for CommBank customers who may see money in their account within minutes of approval. Terms typically range from 3 to 7 years, giving you the flexibility to choose a repayment schedule that balances monthly outgoings and interest costs.

Applying and deciding if it’s right for you

Applying is straightforward: be over 18, an Australian citizen or permanent resident and able to demonstrate affordability. Have ID, payslips and internet banking details ready to speed up the online application, which usually takes under ten minutes to submit.

Compare the Liberty Personal Loan against other personal loans in Australia to check rates, fees and features like redraw and debit card access. If you want flexible credit up to $80,000, a fixed 7.24% rate and no ongoing fees, Liberty is a strong contender for managing planned projects or unexpected costs.