Latitude Financial Services offers a flexible Personal Loan that gives you the choice between secured and unsecured.
The Latitude Personal Loan is suitable for a range of borrowing purposes, from debt consolidation to new or used car finance, with the loan able to be either secured or unsecured. If you are looking for a competitive fixed rate and the option of loan protection insurance, read on to find out if this loan is right for you.
Things to consider about the Latitude Personal Loan
|Product Name||Latitude Personal Loan (Secured)|
|Interest Rate (p.a.)||From 12.99% (fixed)|
|Comparison Rate (p.a.)||14.2%|
|Interest Rate Type||Fixed|
|Minimum Loan Term||2 years|
|Maximum Loan Term||7 years|
|Min Loan Amount||$3,000|
|Max. Loan Amount||$50,000|
|Application Fee||$250 (Loans under $4000 - $140)|
|Monthly Service Fee||$13|
- Ability to fix your interest
- Can use your loan for any purpose
- Weekly, fortnightly or monthly repayments
- High application fee of $250
- Ongoing monthly service fee of $13
- Early repayment fees may be charged
Funds from a Latitude Personal Loan can be used for almost anything you want. This loan comes with a fixed interest rate, repayment flexibility, the ability to make additional repayments and optional loan protection insurance. Latitude offers other types of loans if this personal loan isn’t right for you, such as car loans and debt consolidation loans.
Features of the Latitude Personal Loan
- Fixed interest. The secured loan comes with a fixed interest rate of 12.99% p.a. while the unsecured loan comes with a fixed rate of 13.99% p.a..
- Loan amount. This loan is for people looking to borrow a minimum of $3,000.
- Loan term. The loan term ranges from 2 year(s) to 7 year(s), allowing you to better plan your repayments and ensure you pay back your loan on time.
- Security. If you choose to attach security to your loan, you can guarantee a new or used car, motorbike, personal watercraft, boat, campervan or caravan. Keep in mind that at least 50% of the vehicle needs to be for personal purposes.
- Repayment flexibility. Latitude offers flexible repayment options with this loan. You can make weekly, fortnightly or monthly repayments and can repay through direct debit, Australia Post or BPAY.
- Online application. You can apply for this loan online and the application process is relatively quick and easy. In most cases, you can find out if you’re approved on the same day you apply.
- Additional repayments.You can make additional payments at any time to reduce your loan term and avoid paying extra interest costs.
- Optional loan protection insurance. If you select this loan you can choose to have optional loan protection insurance.
How to apply for the Latitude Personal Loan
If you’ve decided a Latitude Personal Loan is right for you, applying online is very simple. All you need to do is click "Go to Site" and follow the link to the lender’s website to complete your application form. To apply for this loan you must:
- Be over the age of 18
- Be a permanent Australian resident
- Earn an annual gross income of $24,000
- Have held a good credit history for the past five years
- Have not declared bankrupt in the past seven years
If you meet those criteria and would like to complete your application, you will require the following documentation:
- Proof of your identity, such as a driver’s licence, proof of age card or passport
- Proof of income in the form of payslips or your last tax return if you're self-employed
- Amounts you owe on loans, overdrafts, credit/store cards, as well as their limits and repayments
- Your living expenses, including rent and/or mortgage repayments
If you’re looking for a competitive fixed rate secured personal loan, the Latitude Personal Loan is an option worth considering. However, make sure to consider all your options before you decide which loan is right for you.