Liberty Personal Loan
- Interest Rate (p.a.)
- 6.30% to 19.99%
- Comparison rate (p.a.)
- 6.30% to 21.49%
- Min Loan Amount
- $5,000
Summary
Offers a competitive minimum interest rate in the top 20% of lower rates from our database.The Liberty Unsecured Personal Loan has a mix of competitive features and significant drawbacks, reflected in its Finder Score of 7.4. While its minimum interest rate is in the top 20% of lower rates we've analysed, this is offset by a very high application fee.
Its $950 application fee sits in the top 5% of higher fees in our database. The loan also lacks the option for penalty-free extra repayments, a common feature with other lenders.
Pros
-
Free redraw facility
-
Repayment flexibility
-
No ongoing, early termination or discharge fees
Cons
-
Establishment fee depending on risk band
Details
Product Details
| Product Name | Liberty Unsecured Personal Loan |
| Interest Rate (p.a.) | 6.30% to 19.99% |
| Comparison rate (p.a.) | 6.30% to 21.49% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $80,000 |
| Loan Security | Unsecured |
How does Liberty Unsecured Personal Loan compare?
- Competitive minimum interest rate. Its minimum interest rate of 6.30% p.a. is in the top 20% of lower rates in our database.
- No ongoing fees. This loan has no ongoing monthly fees.
- High application fee. The application fee of $950 is in the top 5% of higher fees in our database.
- No penalty-free extra repayments. Borrowers are unable to make extra repayments without penalty.
How does Liberty personal loan work?
The Personal Best loan comes with a fixed rate of 6.30% p.a., which is only applied to your current balance. You are required to pay a $950 establishment fee, but there are no ongoing fees or charges for redraw or ending the loan early. You can also make unlimited additional repayments. You can borrow up to $80,000 and terms are between 3 to 7 years.How to apply
You can get your application started by clicking "Go to Site". First, make sure you meet the eligibility criteria outlined below:- Be over the age of 18
- Be an Australian citizen or permanent resident
- Be able to afford the repayments
You will need your personal and financial details on hand as well as your Internet banking details. The application process shouldn't take longer than ten minutes.
Features of this loan
There are various features and benefits on offer with this loan, including:- Interest rate. No matter what your credit limit, you'll only pay interest on the amount of credit you've used. Interest is charged at a competitive fixed rate of 6.30% p.a.
- Loan amount. You can apply for a credit limit of between $5,000 and $80,000, making this loan suitable for a range of purposes and borrowers.
- Repayment flexibility. Principal and interest repayments are required, but you can choose to make these weekly, fortnightly or monthly, depending on what works best for your budget.
- Free redraw. You're able to make unlimited additional repayments, which you can access via a free redraw facility.
- Debit card access. You'll be able to access your funds using a debit card, making for easy spending.
- Easy application and quick funds disbursal. You can conveniently apply online in about ten minutes. If you bank with CommBank, you can receive your loan within five minutes of being approved. If you bank with another lender, your loan may take up to 24 hours to become available.
How much does Liberty personal loans cost?
It’s important to consider the costs of a loan before you apply.- Interest rate (fixed): 6.30% p.a.
- Establishment fee: 0% to 5.5% of loan amount, capped at $950 Depending on your risk band
- No ongoing, redraw, early termination or discharge fees
Liberty offers a competitive loan, but remember there are similar offers available with other lenders, so compare your options before you apply.
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