Rates and fees verified as correct at 9 August 2022. Other information correct at the time of writing. Advertiser disclosure.
| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Car Loan (Fixed, Secured) |
7.75% p.a.to 26.99% p.a. |
8.65% p.a.to 30.22% p.a.based on $30,000 |
$395 |
| Car Loan (Variable, Secured) |
5.75% p.a.to 25.99% p.a. |
6.68% p.a.to 29.2% p.a.based on $30,000 |
$395 |
| Personal Loan (Fixed) (Unsecured) |
7.75% p.a.to 26.99% p.a. |
8.65% p.a.to 30.22% p.a.based on $30,000 |
$299 |
| Personal Loan (Variable) |
5.75% p.a.to 25.99% p.a. |
6.68% p.a.to 29.2% p.a.based on $30,000 |
$299 |
Personal Loan
With a Latitude personal loan you can borrow money for just about any personal reason such as a wedding, holiday, home reno or buying that dream Winnebago. If you have an asset to secure the loan against, you will be offered a secured loan. Unsecured loans are also available but the interest rate you’ll be required to pay is higher than a secured loan.
On all Latitude personal loans we compare on Mozo, you’ll get a fixed interest rate for the loan term. This can be great to help with budgeting payments month to month but it can mean that if interest rates drop over your loan term that you won’t get the benefit of lower repayments, which you would get with a loan on a variable interest rate.
Like most personal loans you’ll be up for a loan establishment fee - in this case it is based on your credit score, ranging from 0% to 5%. Monthly fees are also payable for the duration of the loan. As you’ll be on a fixed interest rate with a Latitude personal loan, if you decide to pay out your loan early you will be up for some early exit fees. The amount you’ll pay will depend on how much time is left on the loan. This is why it is a really good idea when first considering to take out a loan you choose a loan term that will enable you to pay off the loan in the quickest time possible for your budget.
Car Loan
Latitude also offers two car loan options: one for vehicles under 3 years old and vehicles above 3 years old. The features and fees are very similar, with fixed rates available and the same loan terms. However, the loan minimum is slightly higher and the fees are a bit different (with the application fee a bit higher and the monthly fee a tad lower than the personal loan offering).
Loan terms: For both Latitude personal loans and car loans the minimum loan term is 1 year and the maximum is 7 years.
Loan amounts: There isn’t a set maximum loan amount that Latitude restricts to but the amount of money you’ll be able to borrow will depend on your personal financial circumstances. Just be aware that if you are borrowing less than $5,000 for a loan, you’ll need to choose an alternative lender as these are the minimum borrowing amounts for Latitude.
Repayments: The good news is that with Latitude Financial Services you get to choose how frequently you make your loan payments not them. You’ll get the option to make weekly, fortnightly or monthly repayments. Plus there is the option to make extra repayments as well.
Here’s the list of key things you’ll need to be approved for a Latitude loan:
You will need to be at least 18 years old
a permanent resident of Australia
demonstrate a good credit history for the last 5 years
be free from bankruptcy for the last 7 years
Mozo users have rated Latitude personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
216 Reviews
Latitude finance is an absolute disgrace. Do not use these guys for any of your loans or financial needs. Sneaky underhanded tactics to get more money out of you in any way they possibly can. Had to learn this the hard way. Don't make the same mistake I did, stay clear of these guys, they have no problem ruining you financially & lack any moral compass or ethical standard.
Read full reviewLatitude finance is an absolute disgrace. Do not use these guys for any of your loans or financial needs. Sneaky underhanded tactics to get more money out of you in any way they possibly can. Had to learn this the hard way. Don't make the same mistake I did, stay clear of these guys, they have no problem ruining you financially & lack any moral compass or ethical standard.
Very disappointing service. My wife paid her account down to zero and asked for the account to be closed. She has now been charged $61 in various fees and the account hasn’t been shut. I will be taking this to social media and the banking ombudsman.
Read full reviewVery disappointing service. My wife paid her account down to zero and asked for the account to be closed. She has now been charged $61 in various fees and the account hasn’t been shut. I will be taking this to social media and the banking ombudsman.
I've been trying to apply for a loan for over a week, applied online, my screen says 'thank you for applying we'll be in contact' and I've called multiple times and just keep getting hung up on. The issue is that my screen says I've applied but my application hasn't actually gone through for some reason. I've FINALLY managed to get through to someone and they don't even know how to fix my issue. I've been told they will call back, but last time I was told that no one ever actually rang me back. Extremely frustrating process.
Read full reviewI've been trying to apply for a loan for over a week, applied online, my screen says 'thank you for applying we'll be in contact' and I've called multiple times and just keep getting hung up on. The issue is that my screen says I've applied but my application hasn't actually gone through for some reason. I've FINALLY managed to get through to someone and they don't even know how to fix my issue. I've been told they will call back, but last time I was told that no one ever actually rang me back. Extremely frustrating process.
Mistakes often made with customer service information, refusing to provide details regarding total payments, no online access to account or transaction/statement history. Would not recommend.
Read full reviewMistakes often made with customer service information, refusing to provide details regarding total payments, no online access to account or transaction/statement history. Would not recommend.
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