RateSetter Personal Loan Rates & Fees, Review & Compare - Best Find

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Personal loan provider

RateSetter Personal Loan Rates & Fees, Review & Compare - Best Find

for $10,000 over 3 years

Personal Loan

Borrow from $2,001 up to $45,000. Terms from 6 months to 5 years, no early repayment fees.

Overview

Minimum loan amount$2,001

Maximum loan amount$45,000

Minimum term (years)6 months

Maximum term (years)5 Years

Advertised rate8.80%

Comparison rate10.20%

Monthly repayments (approx)$321

Total repayments (approx)$11,591

Total interest repayments (approx)$1,591

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$150

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Other Fees & Information

Monthly fee$5

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$30

For debt consolidation?No

Sponsored Yes

Telephone1300 768 710

Data accurate as of24/10/2017

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Comparison rate warning

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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Did you know you can compare 100’s of personal loans? Browse, filter and on our main personal loans comparison page.

Compare and review RateSetter personal loan rates

Looking to make major purchase, go on a holiday or perhaps to consolidate your existing debts into one simple regular repayment? When comparing RateSetter personal loans, there are other important things to consider and understand, other than just RateSetter’s interest rates.

What personal loan options does RateSetter offer?

RateSetter has 1 personal loan product:

  • RateSetter Personal Loan

 

View the above table for detailed product information and a comparison of the interest rates, fees and features.

Do you have a RateSetter personal loans calculator?

Yes. Use the filter to adjust your loan amount and term to calculate your approximate monthly repayments. When you apply the filter, you will see a breakdown of your approximate monthly repayments as well as the total amount of interest and fees paid.

How to apply for a RateSetter Personal Loan?

If you’d like to apply online for a RateSetter personal loan, just scroll up and click on “Learn more” to be taken to RateSetter’s secure online application form. Before you apply, be sure to learn about RateSetter’s personal products, fees and eligibility criteria. Give yourself around 30 minutes to complete the application.

RateSetter’s personal loan eligibility criteria

Before you apply for a personal loan, be sure to understand and meet the RateSetter’s lending criteria. Below is high-level overview of RateSetter’s criteria:

RateSetter’s minimum requirements for a personal loan

  • Minimum age of 18
  • Earn a minimum of $15,000 per annum
  • An Australian citizen, permanent resident or have a valid visa

Information you’ll need to provide

Whether at the RateSetter branch or online, make sure to have the following nearby:

  • Proof of income. A verifiable and steady employment. You may be required to provide copies of your most recent pay slips and employer’s contact information
  • A list of your assets, expenses and liabilities
  • Driver’s licence (if you have one) or other forms of ID

Are you self-employed?

If you’re self-employed, you will also need to provide:

  • Financial statements for the last year
  • Your most recent personal/business tax return

Other things to keeping mind when applying with RateSetter

  • It’s advantageous to have a good credit history. For example, you have no recent defaults and no frequent requests for credit
  • Credit cards with large credit limits are seen as liabilities, even if there’s nothing owing. If you have existing liabilities, be certain you can pay them off in addition to your RateSetter personal loan

There are many additional factors RateSetter consider when accessing your application, but the above are the most important. If you feel like you may not meet their eligibility criteria, it may be best to save!

What can you use a RateSetter personal loan for?

You can borrow for almost any worthwhile purpose. No, going to the casino and putting it all on black is not a worthwhile purpose.

Examples of common loan purpose RateSetter will lend for:

 

Additional product information

RateSetter’s minimum and maximum personal loan amounts and terms

You can borrow between $2,001 and $45,000. Over terms between 6 months and 5 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

RateSetter’s repayment schedule

RateSetter allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

RateSetter allows you to make additional or early repayments. There are fees associated with completely repaying your loan off early.

Redraw facility

RateSetter’s Variable Rate Personal Loan gives you the option of being able to make redraws.