RateSetter Personal Loans

RateSetter offers tailored interest rates and rate estimates before you apply. Maximum loan amount is $45,000, and application fees apply.

  • Please note that RateSetter has been rebranded to Plenti. The information on this page has been kept for the benefit of those who are interested and historical records only.

RateSetter is a peer-to-peer lender that offers rate estimates before you apply. The rate estimate will not affect your credit score. They also offer tailored interest rates, based on the loan term, the amount you apply for and details you provide in your application. They offer both unsecured variable and fixed personal loans. While there are no monthly or early repayment fees, there will be an establishment fee of $299 for variable and $399 for fixed interest loans. Loan amounts are limited, starting from $2,001 up to $45,000 and the interest rate starts at 6.49% p.a. for both variable and fixed interest loans.

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From 6.49% (variable)

Interest Rate (p.a.)

7.49%

Comparison Rate (p.a.)

$2,001

Min Loan Amount

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Details

Product NameRateSetter Unsecured Variable Personal Loan
Interest Rate (p.a.)
From 6.49% (variable)
Comparison Rate (p.a.)7.49%
Interest Rate TypeVariable
Min Loan Amount$2,001
Max. Loan Amount$45,000
Loan SecurityUnsecured
  • Please note that RateSetter has been rebranded to Plenti. The information on this page has been kept for the benefit of those who are interested and historical records only.

Main points to consider with a peer-to-peer personal loan from RateSetter

When you take out a personal loan from RateSetter, it will approve you but the loan will actually be funded by an individual or group of investors. You will also be given an interest rate that will be determined by the amount you apply for, the loan term and the details you provide in your application.

The fees for RateSetter's personal loans vary depending on the loan term and loan amount. You can apply for up to $45,000 and loan terms up to 5 years are available.

Features and benefits of a RateSetter personal loan

The following features are offered with a P2P loan from RateSetter:

  • Tailored rate and rate estimate. The interest rate you receive depends on the loan amount and term you apply for as well as the details you provide in your application. You can receive an estimate of this rate before you submit your full application without it affecting your credit score.
  • Loan types. You can apply for either a fixed or variable unsecured personal loan. While the application fee for variable loan starts from $299, the fixed loan application fee starts from $399.
  • Loan amount. You can apply for between $2,001 and $45,000.
  • Loan terms. Fixed loan term is from 3 to 5 years while variable loan term is from 1 to 2 years.
  • No penalty for extra or early repayments. Repay your loan early without penalty and make extra repayments at any time without any extra charges.
  • Ease of repayments. Making repayments is easy, just set up a direct debit facility. You can also make additional repayments at any time, either through BPAY or through bank transfer.

Fees and charges

The fees you pay vary depending on the loan you choose. Here is the breakdown:

RateSetter Unsecured Variable Personal Loan

  • Application fees: From $299
  • Monthly fees: $0
  • Early repayment fees: $0

RateSetter Unsecured Fixed Personal Loan

  • Application fees: From $399
  • Monthly fees: $0
  • Early repayment fees: $0

How to apply for a personal loan from RateSetter

Applying for a RateSetter personal loan is straightforward. To complete an online application just click on the 'Go to Site' button. You start by getting a Rate Estimate. The next step is to complete the application. You find out about your application status within one business day.

To qualify for a RateSetter personal loan you have to meet certain eligibility criteria, which are as follows:

  • Be at least 21 years old
  • Have regular income
  • Have good credit history
  • Reside in Australia
  • Be a permanent resident of Australia or New Zealand or a 457 Visa Holder (with greater than the loan term remaining on your Visa)

Compare other personal loans

$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Symple Loans Personal Loan

From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10

You'll receive a variable rate from 5.75% p.a. to 25.99% p.a.

Borrow up to $50,000 and earn 1 Qantas Point for every $1 borrowed.

⭐Special Offer: Earn up to 50,000 Qantas Points with a personal loan from Symple.
Plenti Personal Loan

From 6.39% (fixed)
6.39%
$5,000
3 to 7 years
$0 to $999
$35
You'll receive a fixed rate between 6.39% p.a. and 17.89% p.a. based on your risk profile.
A flexible loan with amounts from $5,000 and terms starting from 3 years. Interest and comparison rates calculated for a loan term of 5 years.
Citi Personal Loan Plus
8.90% (variable)
9.18%
$5,000
3 to 5 years
$199
$0
You'll receive a guaranteed variable rate of 8.90% p.a. with a comparison rate of 9.18% p.a. if you're approved.
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: Monthly account service fee will be waived for applications submitted before 30 September 2021. The interest rate doesn’t change based on your risk profile, so you know your rate before you apply.
Harmoney Unsecured Personal Loan

From 5.35% (fixed)
6.14%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
You'll receive a fixed rate between 5.35% p.a. and 19.09% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
Alex Bank Personal Loan

From 5.45% (fixed)
5.45%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 5.45% p.a. to 19.99% p.a. based on your risk profile
Borrow between $2,100 and $30,000 from 6 months to 5 years. Note: The $295 establishment fee will be waived for loan applications submitted by 30 September 2021.
SocietyOne Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 5.95% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. (7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
NOW Finance No Fee Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
No Establishment Fee
$0
You'll receive a fixed rate between 5.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.

⭐ Finder Exclusive: Apply and settle a NOW Finance debt consolidation loan via Finder by 30 September 2021 for your chance to win $2000 paid off your debt. T&Cs apply.
OurMoneyMarket Personal Loan

From 5.45% (fixed)
6.07%
$2,001
1 to 7 years
From $250
$0
You'll receive a fixed rate from 5.45% p.a. to 20.99% p.a. based on your risk profile.
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

⭐ Finder Exclusive: Apply before September 30th 2021 to secure a discounted rate of 5.45% p.a. (comparison rate: 6.07% p.a.) for the first 12 months on loans over $35,000. T&Cs apply.
Latitude Personal Loan (Unsecured)

From 7.99% (fixed)
9.24%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 7.99% p.a. and 22.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly. You can check your interest rate before applying with no impact to your credit score.
ANZ Fixed Rate Personal Loan
8.99% (fixed)
9.88%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 8.99% p.a. with a comparison rate of 9.88% p.a. if you're approved.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

⭐Special Offer: Secure a reduced interest rate of 8.99% p.a. for a limited time only. Apply for up to $50,000 to use for a variety of purposes without needing to add security.
MoneyMe Personal Loans

From 6.25% (fixed)
7.64%
$2,100
1 to 5 years
from $295 to $495
$10
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
Wisr Personal Loan ($5,000 to $30,000)

From 6.49% (fixed)
6.49%
$5,000
3 to 7 years
$0 - Waived Establishment Fee
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer:The $595 establishment will be waived for unsecured personal loans between $5,000 and $30,000. Offer ends 30 September 2021. T&Cs apply.
Wisr  Personal Loan ($30,001 to $64,000)

From 6.49% (fixed)
7.11%
$30,001
3 to 7 years
$595
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $30,001 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.
ANZ Variable Rate Personal Loan
10.50% (variable)
11.38%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 10.50% p.a. with a comparison rate of 11.38% p.a. if you're approved. Note: This rate may vary during the loan term.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.
Heritage Bank Fixed Personal Loan
7.99% (fixed)
8.62%
$5,000
1 to 7 years
$200
$5
Choose a fixed rate loan and receive a comparison rate of 8.62% p.a.
Fixed rate loans are available up to $100,000 on terms from 1 to 7 years.
Plenti Variable Rate Personal Loan

From 6.39% (variable)
6.39%
$5,000
1 to 3 years
$0 to $999
$0
You'll receive a variable rate from 6.39% p.a and 17.89% p.a. based on your risk profile
A flexible loan with amounts from $5,000 and terms starting from 12 months. Benefit from transparent costs and a rate estimate before you apply.
NAB Personal Loan Unsecured Variable Rate

From 6.99% (variable)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 6.99% p.a. and 18.99% p.a. (7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
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Compare up to 4 providers

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 5.95% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

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24 Comments

    Default Gravatar
    Kerrieanne
    April 11, 2019

    My credit score is fair. Do you think I would qualify for a personal loan from RateSetter?

      Avatarfinder Customer Care
      Joshua
      April 11, 2019

      Hi Kez,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      If you are interested in applying for a loan from RateSetter, please note that they require applicants to have a good credit score rating. It is worth noting that they also take into consideration other factors aside from your credit score when assessing your application.

      Thus, it would be important as well to make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    adam
    February 27, 2019

    i have a credit score of 361 i disputing a report on my file i have a mortgage work full time own two cars what do you think?

      Avatarfinder Customer Care
      John
      February 28, 2019

      Hi Adam,

      Thank you for reaching out to Finder.

      If you wish to check on lenders that could assist you in taking out a loan with a 361 credit score, you may be interested in checking our list of $5,000 loans. As long as the requirements for eligibility are met, you may be able to get your loan approved. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    Rick
    February 26, 2019

    After reading –
    “You’ll receive a fixed rate from 7.03% p.a. based on your risk profile”
    I submitted my information it came back at 18% which I am not interested in – I wouldn’t have bothered if I knew this beforehand – as far as i’m concerned this is a dodgy practise for companies to collect your information. Why did this happen?

      Avatarfinder Customer Care
      John
      February 27, 2019

      Hi Rick,

      Thank you for reaching out to Finder.

      You will be given a personalized comparison rate based on your credit score. 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. Please reach out to Ratesetter directly to inquire on why you received 18%. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    russ
    February 27, 2018

    Why do you need my bank account details including my online account number before my application is processed?

      Avatarfinder Customer Care
      Jhez
      March 1, 2018

      Hi Russ,

      Thank you for your comment.

      There are lenders, not just RateSetter, that ask for your online banking login when you apply for a loan. Please know that they will not have access to your bank account and neither will the third-party service like Finder that facilitates the sending of read-only copies of your bank statements. Lenders will also not store your login details and generally, this process is encrypted and secure through their site. 

      We have an article that explains why lenders need your internet banking details. Hope this can help. 

      Regards,
      Jhezelyn

    Default Gravatar
    Suzanne
    June 21, 2017

    I wish to borrow $3500 to help my grand children go to USA for medical treatment at Boston Diabetic Hospital. I am an aged pensioner.

      Default Gravatar
      Jonathan
      June 21, 2017

      Hi Suzanne!

      You may check your options for pensioner loans on our website. Kindly click on the name of your chosen lender and then “Go to site” button once redirected to proceed with your application.

      Hope this helps.

      Cheers,
      Jonathan

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