Personal loan lender RateSetter becomes ‘Plenti’


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.


“As we grow, we want our identity to reflect our ambitions rather than our origins. We will always be proud of our history. But we feel now is the right time to take things to the next level, with a name that reflects our company’s future as a champion in consumer finance,” he said.

“The name ‘Plenti’ does just that. Plenti reflects our ambition and purpose: to create smart financial products that help our customers make the most of their money and transform their tomorrow.” 

Want to meet some of the newly renamed ‘Plenti’ products? Take a look below!

Plenti Personal Loans

Plenti Unsecured Personal Loan
  • Variable interest rates from 6.49% (7.49% comparison rate*)
  • No service, exit or early repayment fees
  • Extra repayments allowed
Find out more

Looking for a competitive loan without putting up assets as collateral? Meet the Plenti Unsecured Personal Loan. Not only do variable rates start from a low 6.49% (7.49% comparison rate*), there are also no pesky ongoing service fees to worry about over the life of the loan. While borrowers only have the option of making monthly repayments, extra repayments are allowed on this loan and there aren’t any exit or early repayment fees either. Just bear in mind, there is no redraw facility attached to this loan, and you’ll have to budget for a $149 upfront application fee.

Plenti Unsecured Personal Loan (Fixed)
  • Fixed rates from 6.49% (7.84% comparison rate*)
  • Reduced application fee for 3-year term
  • Extra repayments allowed
Find out more

If you prefer a fixed unsecured personal loan and want to be rewarded for your good credit history, the Plenti Unsecured Personal Loan could be the right choice for you. Fixed rates start at a competitive 6.49% (7.84% comparison rate*) for borrowers with an excellent credit score. There are no ongoing service fees or exit fees associated with this loan and borrowers can choose between a 3 and 5 year term. Remember, there is a hefty $249 upfront application fee. However, for customers that choose a 3 year term it is reduced to $149. Extra repayments are allowed on this loan (without redraws), and there is no penalty if you pay down your entire loan early.

Plenti Car Loans

Plenti New Car Loan
  • Fixed rates from 4.89% (5.44% comparison rate*)
  • Borrow up to $100,000
  • Extra repayments allowed
Find out more

Plenti’s New Car Loan not only comes with fixed rates starting as low as 4.89% (5.44% comparison rate*) but also comes with minimal fees and flexible repayment options. Customers have a range of choices, as they can opt to borrow between 3 and 7 years and anywhere from $10,000 to $100,000. With this loan you won’t have to worry about monthly service fees, simply because there are none! Plus, if you want to pay down your loan early you can, as extra repayments are allowed and there is no early repayment fee either. It’s important to remember though, if you miss a regular repayment you’ll face a $30 late payment fee and there is a large $399 upfront application cost. Also note, this loan is for new car purchases: if you need an option for a used car check the product below!

Plenti Used Car Loan
  • Fixed rates from 5.29% (5.84% comparison rate*)
  • Extra repayments allowed
  • Borrow up to $100,000
Find out more

Got your eye on a pre-loved set of wheels? The Plenti Used Car Loan could get you the keys sooner! With fixed rates starting at a low 5.29% (5.84% comparison rate*), minimal fees and flexible repayment options, this loan has a few things going for it. Although borrowers only have the option of a monthly repayment schedule, for those who want to pay down their loan early, extra repayments are allowed. Plus, there is no penalty if you pay your entire loan off in full. And on the topic of fees, there are no monthly service costs or exit charges to worry about. Just remember, you’ll need to budget for a $399 upfront fee when you apply for the loan.

Plenti Refinance Car Loan
  • Fixed rates from 5.29% (5.84% comparison rate*)
  • No ongoing, exit or early repayment fees
  • Extra repayments allowed
Find out more

If you want to switch to a more competitive car loan, Plenti’s Refinance Car Loan is worth checking out. Customers can refinance anywhere between $10,000 and $100,00 between 3 and 7 years. Fixed rates start at a low 5.29% (5.84% comparison rate*), there are no ongoing, exit or early repayment fees, and borrowers have flexible repayment options with free extra repayments. However, it’s important to note that if you don’t have a good credit history, rates go up to 9.99% (10.56% comparison rate*). So, consider this before opting to refinance your existing loan. Also, be mindful of the $399 upfront application fee if you decide to make the switch.

What does the rebrand mean for existing customers?

So your loan that once was called ‘RateSetter’ is now ‘Plenti’ - what does that mean for you as the borrower? 

Well, Foggo assures existing customers none of the good stuff is going to change when it comes to their loans. 

“All the things that count about your loans and investments are here to stay, like the fast online experience, fair interest rates and flexible loan terms that match your needs,” Foggo said.

“We think our customers trust us when we say that everything we do is to build a stronger and more resilient platform for growth - allowing us to continue to deliver better value and service. Building towards an exciting future is in our DNA, so stay tuned for more to come.” 

Personal loan question: Is secured or unsecured right for me?

Want to see how Plenti stacks up against the rest? Jump over to our personal loan comparison table to weigh up more options.

* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. 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.

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