Rates & fees
Every number we can publish
Rate ranges, fees, terms and worked examples across our lender panel. Your rate depends on your circumstances and the lender that approves you.
- Secured from 9.00% p.a., unsecured from 11.00% p.a.
- No monthly service fee on any panel product
- Comparison rates calculated, not estimated
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Rate ranges by product
These are the ranges available across our panel. Where you sit within a range depends on your credit history, income, the loan term and whether the loan is secured.
| Product | Rate from | Rate to | Terms | Establishment fee | Monthly fee |
|---|---|---|---|---|---|
| Personal loan (secured) | 9.00% p.a. | 22.00% p.a. | 1–7 yrs | $205 | $0 |
| Personal loan (unsecured) | 11.00% p.a. | 22.00% p.a. | 1–7 yrs | $295 | $0 |
| Car loan (secured) | 9.00% p.a. | 22.00% p.a. | 1–7 yrs | $205 | $0 |
| Debt consolidation | 11.00% p.a. | 22.00% p.a. | 1–7 yrs | $295 | $0 |
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Worked examples
The same 22.00% interest rate produces very different comparison rates depending on amount and term. This is the fee effect, and it is worth understanding before you choose a term.
| Amount | Term | Rate | Comparison rate | Monthly | Total payable |
|---|---|---|---|---|---|
| $30,000 | 5 yrs | 13.00% | 13.44% | $682.59 | $41,251 |
| $30,000 | 5 yrs | 11.00% | 11.43% | $652.27 | $39,431 |
| $30,000 | 5 yrs | 22.00% | 22.48% | $828.57 | $50,009 |
| $10,000 | 3 yrs | 13.00% | 15.11% | $336.94 | $12,425 |
| $10,000 | 3 yrs | 22.00% | 24.23% | $381.90 | $14,044 |
| $5,000 | 2 yrs | 22.00% | 28.48% | $259.39 | $6,520 |
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All examples assume an unsecured loan with a $295 establishment fee and no monthly fee. Repayments are rounded to the nearest cent, totals to the nearest dollar.
How your rate is decided
Australian lenders use risk-based pricing. Two people borrowing the same amount over the same term can be offered rates ten percentage points apart. The factors that move your rate:
Credit history
The largest single factor. Defaults, arrears and recent enquiries all push the rate up. Age matters — a default from four years ago weighs far less than one from four months ago.
Security
A secured loan typically prices several percentage points below an unsecured one, because the lender can recover the asset if the loan fails.
Income and stability
Higher income and longer tenure reduce assessed risk. Casual and contract income is assessed more conservatively than permanent salaried employment.
Existing commitments
Lenders calculate what is left after your current obligations. High card limits reduce capacity even when balances are nil, because the limit is what could be drawn.
Repayment period: minimum 1 year (2 years on loans under $10,000), maximum 7 years. Interest rates: 9.00% p.a. to 22.00% p.a. depending on security, credit history and the lender. Maximum comparison rate: 28.48% p.a. — the ceiling across all our products, being a $5,000 loan over 2 years at 22.00% p.a. On our representative $30,000 over 5 years basis, the maximum is 22.48% p.a.
Representative example: a $30,000 unsecured personal loan over 5 years at 13.00% p.a. (comparison rate 13.44% p.a.), with a $295 establishment fee and no monthly fee, has repayments of $682.59 per month and a total amount payable of $41,251.
Fees: establishment fee $205 (secured) or $295 (unsecured). No monthly service fee. Lenders may charge fees for missed payments or early payout — set out in your credit contract before you sign.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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