Latitude Low Rate Personal Loan (Unsecured)
- Interest Rate (p.a.)
- 10.99%
- Comp. Rate (p.a.)
- 12.21%
- Min Loan Amount
- $20,000
Summary
Borrow from $20,000 up to $70,000 with terms up to 7 years. Interest rates are fixed, and application and monthly fees apply.
This loan by Latitude Financial Services has borrowing amounts ranging from $20,000 up to $70,000. Their terms are from 1 to 7 years. This loan is unsecured and does not require an asset as collateral. You need to be a homeowner or a mortgage holder to apply. Their interest rates are fixed, meaning that your repayments will be consistent throughout the lifetime of your loan. This makes it easier to predict and budget for the cost. Rates start from 10.99% p.a., with a comparison rate of 12.21% p.a. There is also an application fee of $250 and a monthly fee of $13.
Pros
-
Can be secured or unsecured
-
Make extra repayments without penalty
Cons
-
High minimum borrowing amount
-
Only available to homeowners
-
$250 application fee
-
Monthly fee of $13
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Early termination fee up to $300 may apply
Details
Product details
| Product Name | Latitude Low Rate Personal Loan (Unsecured) |
| Interest Rate (p.a.) | 10.99% |
| Comp. Rate (p.a.) | 12.21% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $20,000 |
| Max. Loan Amount | $70,000 |
| Loan Security | Unsecured |
How does the Latitude Financial Services Low Rate personal loan work?
This loan can be secured or unsecured, and comes with a $20,000 minimum loan amount and low rates. You need to be a homeowner or a mortgage holder to apply and the loan comes with a competitive fixed interest rate of 10.99% p.a. for the unsecured loan option and a $250 application fee.You'll have between 1 year and 7 years to repay the loan. If you repay your loan ahead of schedule, a fee may apply. Check the fee section below for how this works.
How to apply
To apply, simply click "Go to Site" on this page to be securely redirected to Latitude's website.This product is available to homeowners, mortgage holders and new personal loan customers only. Other than this, you are eligible if:
- You're 18 or older
- You're a permanent Australian resident
- You have had excellent credit history over the last five years
- You haven't been bankrupt in the last seven years
To apply you will need:
- An Australian driver's license if you have one, or other personal identification if you don't.
- Your current employment details, including two recent pay slips or your tax return if you're self-employed.
- Details of any outstanding debt you may have including store credit cards, overdrafts, other loans and anything else.
- Details of your living expenses, including rent and mortgage payments if applicable.
If you're tired of dealing with different financing plans for your house, car and business and wish you could roll them all into one personal loan with good rates, then Latitude may be an option for you to consider. If you're having trouble finding an unsecured loan with competitive terms, then check out what Latitude has to offer.
Features of this loan
- 10.99% p.a. fixed rates. Enjoy a fixed rate of 10.99% p.a. (12.21% p.a. comparison rate) for unsecured low rate personal loan, helping you to plan better with consistent repayments and a competitive rate.
- Borrow over $20,000. This low interest loan has a minimum borrowing sum of $20,000 and maximum loan amount of $70,000.
- 1 year to 7 years loan term. Choose to repay your loan over the course of 1 year to 7 years. Because these low rate loans are designed to be an effective all-in-one option, they have a wide range of loan terms suitable for most circumstances.
- Flexible repayment options. Choose weekly, fortnightly or monthly repayments.
- Early repayment. You're able to repay the loan off in the last six months of your loan term with no penalty. Keep in mind an early repayment fee will apply if you repay it in earlier than this (see the fee section for more information).
- Opt for secured or unsecured. Whether or not you have assets available to serve as collateral and whether or not you are willing to risk putting them up, Latitude can accommodate you. There are similar rates, similar borrowing power and many of the same benefits available with both secured and unsecured loans.
- Fast approval. Depending on your circumstances, you can expect to receive funds the next day, or within two business days.
How much does the Latitude Low Rate personal loan cost?
- Application fee: $250
- Monthly fee: $13
- Early repayment fee: If you repay you loan off in full in the first half of your loan term you will be charged $300. This fee drops to $0 if you repay your loan ahead of schedule in the second half of your loan term.
- Late repayment fee: $35.
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