RateSetter peer-to-peer loans

If you’re looking to take out a personal loan and want a competitive rate, you may want to consider peer-to-peer (P2P) lender RateSetter. As a P2P lender, RateSetter offers risk-based interest rates that are determined by the amount you apply for, the loan term and the details you provide on your application. There are a few different loan options available including an unsecured personal loan and a green loan to help you make environmentally friendly purchases. Find out more about RateSetter's loans and compare them below.

• Ratesetter Personal Loans
• Ratesetter Car Loans

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Loan term

1 year 2 years 3 years 4 years 5 years 6 years 7 years

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Name	Product	Interest Rate (p.a.)	Comparison Rate (p.a.)	Min Loan Amount	Loan Term	Application Fee	Monthly Service Fee	Monthly Repayment
RateSetter Unsecured Fixed Personal Loan		From 6.49% (fixed)	6.84%	$2,001	3 to 5 years	From $149 to $399	$0		You'll receive a fixed rate between 6.49% p.a. and 12.79% p.a. based on your risk profile A flexible loan with amounts from $2,001 and terms starting from 3 years. Interest and comparison rates calculated for a loan term of 5 years.	More Info	Compare	loading Fetching your data...
RateSetter Unsecured Variable Personal Loan		From 6.49% (variable)	7.49%	$2,001	1 to 2 years	From $149 to $299	$0		You'll receive a variable rate from 6.49% p.a and 12.29% p.a. based on your risk profile A flexible loan with amounts from $2,001 and terms starting from 12 months. Benefit from transparent costs and a rate estimate before you apply.	More Info	Compare	loading Fetching your data...
RateSetter Green Loan		From 6.39% (fixed)	7.81%	$2,001	3 to 7 years	starts from $300	$4		You'll receive a comparison rate between 7.81% p.a. and 9.20% p.a. based on your risk profile A loan up to $45,000 to help you purchase a range of environmentally friendly products. Receive a rate estimate before you apply.	More Info	Compare	loading Fetching your data...

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Data indicated here is updated regularly

We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.

Learn how we maintain accuracy on our site.

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Loan amount

$

Loan term

1 year 2 years 3 years 4 years 5 years 6 years 7 years

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Sort by:

Name	Product	Interest Rate (p.a.)	Comparison Rate (p.a.)	Min Loan Amount	Loan Term	Application Fee	Monthly Service Fee	Monthly Repayment
RateSetter Car Loan		From 4.89% (fixed)	5.44%	$10,000	3 to 7 years	from $249 to $799	$0		You'll receive a fixed rate from 4.89% p.a. Borrow up to $100,000 with a RateSetter Car Loan and benefit from no early repayment or exit fees.	More Info	Compare	loading Fetching your data...

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How does borrowing from RateSetter work?

P2P loans work with the lender, RateSetter, acting as an intermediary between you as a borrower and the person or group of people funding your loan. To be approved, you just need to meet the eligibility criteria set by RateSetter.

The interest rate depends on the information provided in your application, so you won’t receive your rate until you’re approved. However, you can get a rate estimate before you apply without it affecting your credit score. After approval you can expect the funds in about one business day.

Personal loan options from RateSetter

RateSetter provides secured and unsecured personal loans with loan terms extending up to 5 years depending on your loan type. Its flexible terms make the loans suitable for a range of purposes, including:

• Unsecured personal loan. This loan can be used for a range of purposes, from consolidating debt to paying for a wedding. Borrow from $2,001 to $45,000 and have up to 5 years to repay your loan depending on your loan type. Fees and rates also vary depending on the loan term. Use the comparison table above to get an idea of these costs.
• Car loan. You can opt for a secured or unsecured car loan from RateSetter with competitive rates from 4.89% p.a. Pre-approval is also on offer, giving you up to 30 days to purchase your vehicle. While businesses cannot secure car finance, individuals can get a loan for a small business vehicle, such as Uber drivers.
• Green loan. If you want to finance to make an environmentally friendly purchase, such as solar panels, you can consider this Green Loan from RateSetter. You can apply for up to $45,000 and have up to 7 years to repay.

Features of a RateSetter loan

There are various features and benefits on offer when you borrow with RateSetter, including:

• Rate estimate. You can secure a rate estimate before you submit a full application without it affecting your credit score.
• Personalised interest rate. Your interest rate will be determined by the loan term you opt for as well as the loan amount and the information you give in your application.
• Fast turnaround. Rate estimates can be given in minutes. You’ll find out if you’re approved one business day after submitting a full application, and you can expect funds in your account one business day after accepting the loan contract.
• Loan types. RateSetter offers two types of unsecured personal loans - variable and fixed. The application fee for variable loan is from $299 and for fixed loan is from $399.
• Loan terms. Variable personal loan term is from 1 year to 2 years while the fixed personal loan term is from 3 years to 5 years.
• Loan amount. Apply for a loan amount between $2,001 and $45,000
• Flexible repayments. There are no fees for early repayment or to make extra repayments. You can also increase your ongoing monthly repayments at any time.
• Online account management. To manage your account you can login to your RateSetter account.

How you can apply

If you’re ready to apply for a RateSetter loan, click “Go to Site” to submit your application. You’ll need to meet the following eligibility criteria before you apply:

• Aged 21 or over
• An Australian citizen or permanent resident
• Have a regular source of income that you can demonstrate
• Have a good credit history

If you meet these criteria you can click through to get a rate estimate without it affecting your credit history. Have your personal, financial and employment details on hand.

Frequently asked questions

Do investors see my personal information?

When considering what loans to invest in, lenders will only see a reference number attached to your application, not any personal details.

How much can I borrow?

The actual loan amount you’re approved for will depend on the information you provide in your application. RateSetter provides loans of between $2,001 to $45,000

Are RateSetter loans secured or unsecured?

You can opt for either a secured or unsecured loan. If you choose to attach a guarantee you may be offered a lower rate.

How much does a RateSetter loan cost?

Your interest rate will be determined by the information in your application and set in your loan contract. You will be sent all fees and charges when you apply. Typical fees to expect include a credit assurance fee that will be payable to RateSetter and a risk assurance charge payable to the provision fund. A monthly loan management fee may also be payable.