(MENAFN- Market Press Release) October 2, 2025 4:23 am - In a time when everyday Australians are feeling the pinch from rising living costs, Econnex has added a new vertical to its portfolio, Personal loan comparison designed to simplify and empower smarter financial decisions.

For many, a personal loan isn't just about borrowing, it's about managing expenses in a structured way. Whether it's consolidating high-interest debt, covering medical bills, planning a wedding, or finally upgrading the home, Australians are turning to personal loans to regain control of their finances.

A Financial Shift, Not Just a Trend

According to the Australian Bureau of Statistics (ABS) Lending Indicators, June 2025, the value of new personal fixed-term loan commitments reached $9.0 billion. This marked a 5.3% increase over the quarter and was 16.8% higher than the same time last year.

Within this, loans for road vehicles totalled $4.9 billion, while“other personal loans "covering categories such as household goods, travel, or debt consolidation rose to $4.1 billion.

This isn't just a spike, it's a signal. Australians are moving away from fragmented credit solutions like high-interest cards and Buy Now, Pay Later (BNPL) schemes, and toward structured, transparent lending that offers stability.

For many Australians, personal loans can provide a structured option to manage costs and fund major milestones. They're using them to consolidate debt, manage rising costs, and fund major life milestones without falling into the trap of revolving credit. This shift reflects a deeper change in mindset. Borrowing isn't about surviving, it's about planning.

We aim to make that planning easier by offering a range of loan products from our panel of lenders, presented in a clear and comparable way.

What Makes Econnex Personal Loan Comparison Different?

Econnex has long been the go-to platform for comparing energy, internet, solar, and credit cards. Now, with the launch of its Personal Loan vertical, the company is expanding its mission to take the stress out of everyday financial decisions.

Key features of the platform include:

Select loan term
Compare and select loan terms as per your budget available from participating lenders.

Soft credit check
Users can compare offers with a soft credit check. A credit check only occurs if they proceed with a lender.

Complete digital experience
Apply anytime, anywhere. The process is secure and streamlined.

Loan options on fair credit
Some partner lenders may consider applications from Australians with fair credit scores, subject to their own assessment criteria

Compare offers in one place
Review interest rates, terms, fees, and eligibility side by side from our panel of participating lenders.

Clear and transparent information
We keep it simple. All product details are displayed in plain language so you can compare with confidence and make choices that may suit your needs.

Built for Real Life, Not Just Finance

“Australians don't just need access to loans, they need a clear, trusted way to compare their options and choose what's right for them,” said Ankit Jain, CEO of Econnex.“With the launch of our Personal Loan comparison vertical, we're bringing the same transparency and simplicity we've delivered in utilities and now with financial space, helping people cut through complexity, understand their choices, and move forward with confidence.”

The Road Ahead

The launch of the Personal Loan vertical is the latest step in Econnex's roadmap to expand its trusted comparison platform. As more Australians turn to personal credit to navigate rising costs and economic uncertainty, Econnex remains committed to delivering solutions that are transparent, responsible, and consumer focused.

By adding personal loans to our comparison offering, Econnex is expanding the ways Australians can explore, compare and choose from options suited to their circumstances.

Our goal is to ensure comparing loans is simple and transparent.

Disclaimer- Econnex Comparison is a business name of CIMET Sales Pty Ltd ABN 72 620 395 726 (CIMET), Australian Credit Licence 546701. It is a comparison platform, not a lender. We compare personal loan products from a panel of selected lenders; not all lenders or products in the market are included. Eligibility and loan terms depends on user details and the assessment criteria of each lender. Consumers should always consider their personal circumstances and review each lender's Target Market Determination (TMD) and product Terms and Conditions before applying.

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