In the current world we live in, it’s no surprise that many Aussies are looking to go green. While it’s unlikely that recycling, composting or steering away from single-use plastic will cost you an arm and a leg, other efforts come with a heftier price tag. Meet the green personal loan. Whether you’re installing solar panels, getting a water tank or even making the switch to an eco-friendly car, these loans are designed to make your sustainable dream come true.
There are obvious perks to choosing a shorter personal loan term - it takes you less time to pay down your loan plus you pay less in interest over the life of your loan. But what if you could also receive a lower interest rate for choosing a shorter term? Well, the good news is, with some lenders you can.Last week, personal loan lender SocietyOne introduced a tiered pricing system that does just that. Not only does it reward customers for their good credit history but also gives them an extra pat on the back for choosing a shorter term. On it’s Unsecured Personal Loan (Fixed), the lender offers a competitive 7.99% (9.25% comparison rate*) on it’s 5-year loan term. However, for customers that choose to borrow for 2 or 3 years, they offer a low 6.99% (9.00% comparison rate*). Want to find out more about this loan? Read below!
Technology-led personal loan and car loan lender RateSetter has rebranded to ‘Plenti.’ For five years, RateSetter assisted 80,000 households by offering a range of competitive loan options. Now, the new ‘Plenti’ aims to help many more. Plenti chief executive officer, Daniel Foggo says the change in brand is a reflection of the company’s ambitions for the future rather than where they started.
If you’re on the hunt for a personal loan, one question that may be on your lips is, should I choose a secured or unsecured loan? Ultimately, the type of loan you choose could influence things like the interest rate you receive, what you can borrow for and what fees are attached to the loan. So which personal loan is right for you? Let’s break it down: If you have some assets, like a car or a home, you may qualify for a secured personal loan. An example of a typical type of secured loan is a car loan, used to purchase either a new or pre-loved car. Because you are putting up your goods as collateral, these types of loans often come with lower interest rates and fees. According to the Mozo database, the current secured variable rate averages sit at 9.04% (not including car-specific loans) and 7.62% (including car-specific loans). However, it’s important to bear in mind that providers of secured loans are able to seize your assets if you default on your loan.On the flip side, if you don’t have assets to secure against your loan, or you don’t want to put up your car or home as collateral, you could opt for an unsecured personal loan. You might use this type of loan to fund something like a home renovation or to cover an outstanding medical bill. While borrowers aren’t required to risk their assets against the loan, unsecured loans often have higher fees and interest rates attached to them. For example, at the moment the average variable unsecured personal loan rate on the Mozo database is 10.75%. What secured and unsecured personal loans are on the market at the moment? Check out these competitive options below.
If your income has been cut due to COVID-19, maintaining a healthy credit score might be the last thing on your mind. But factoring your financial reputation into your crisis money management could be invaluable in the future.
Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
