Reduce Personal Loans

Rates and Fees verified correct on October 22nd, 2016

Looking for a competitive unsecured personal loan? Your good credit history could get you a lower rate with Reduce Loans.

Reduce Loans offer financing for a range of purposes, from home renovation to making a large purchase. The application is quick and you can receive a rate estimate without it affecting your credit score. If you do have good credit history you can use it to your advantage to receive a lower rate. Find out more about the benefits of borrowing with Reduce Loans by reading the review below.

Product NameReduce Personal Loans
Interest Rate (p.a.)From 8.5% (fixed)
Comparison Rate (p.a.)14.32%
Interest Rate TypeFixed
Minimum Loan Term0.5 years
Maximum Loan Term5 years
Min Loan Amount$2,001
Max. Loan Amount$35,000
Application Fee$100 (up to $400)
Loan SecurityUnsecured


  • Rewards a good credit history
  • 48 hour loan funding for successful applicants
  • No exit fees or early repayment fees


  • Higher rates for average credit borrowers
  • Higher application fees

Things to consider about Reduce Loans

This personal loan is unsecured and terms range from 0.50 year(s) to 5 year(s). Interest rates are fixed and applied based on your credit score, so if you have good credit history you may secure a lower rate. Establishment fees come with this loan but they depend on how much you borrow.

Features of a personal loan from Reduce Loans

There's a number of features and benefits on offer that should be considered before you apply:

  • Rate estimate. You can receive a rate estimate before you apply. Just provide a few details and it won't affect your credit score.
  • Fast application and turnaround time. After you receive your rate estimate it only takes five minutes to complete your full application. You'll hear from Reduce Loans in two hours and receive a decision in 24 hours. If approved, you can receive your funds 48 hours later.
  • Loan amount. Borrow between $2,001 and $35,000. This flexibility makes the loan suitable for a range of loan purposes.
  • Loan terms. You have between 0.50 year(s) and 5 year(s) to repay your loan.
  • Repayments. There are no early repayment penalties and you can repay your entire loan early without penalty.
  • Loan management. You're able to manage your loan through an online portal throughout your loan term.
  • Establishment fees. The fees you are charged to establish the loan depend on how much you borrow. This will be outlined in your loan contract.

How you can apply with Reduce Loans

If you're ready to apply with Reduce Loans, click "Go to Site" to get your application started. The following eligibility criteria needs to be met in order for you to apply.

You must:

  • Be over the age of 21
  • Be an Australian citizen or permanent Australian resident
  • Have a regular source of income that you can demonstrate
  • Have a good credit history

The initial rate estimate only takes one minute and the full application takes five minutes. You will receive a response in two hours and a decision in 24 hours. If you're approved, you can have access to your funds 48 hours later.

Was this content helpful to you? No  Yes

This page was last modified on 7 April 2016 at 10:54.

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

Ask a question