Rates and fees verified as correct at 06 May, 2021. Other information correct at the time of writing. Advertiser disclosure.
| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Car Loan (Over 3 years old, Fixed, Secured) | 9.99% p.a. | 11.08% p.a.based on $30,000 | $395 |
| Car Loan (Under 3 years old, Fixed, Secured) | 5.99% p.a. | 7.24% p.a.based on $30,000 | $395 |
| Personal Loan (Fixed, Secured) | 5.99% p.a.to 21.99% p.a. | 7.26% p.a.to 23.15% p.a.based on $30,000 | $250 |
| Personal Loan (Fixed, Unsecured) | 7.99% p.a.to 22.99% p.a. | 9.24% p.a.to 24.15% p.a.based on $30,000 | $250 |
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. 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 $3,000 for a personal loan or $5,000 for a car 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.
208 Reviews
So very helpful and helped me a lot
Read full reviewSo very helpful and helped me a lot
Rude customer service. Bombarded you with information, and a lot of it is hidden in contracts. They won't give you the information you need, simply refer you back to the loan documents later. From $276 i pay a month, only about $40 goes to the loan (Remainder is interest). They charge $1.50 per transaction when you try and pay early. When i stated I would go to the ombudsman for being penalized in relation to making additional payments - was advised to "go right ahead, its in your contracts" - they fail to advise you anything else at the time you ask questions. I was also cut off from emailing " If you need anything else jump on the support page or call". Avoid at all costs, and speak to financial planners prior to accepting any loans with these guys
Read full reviewRude customer service. Bombarded you with information, and a lot of it is hidden in contracts. They won't give you the information you need, simply refer you back to the loan documents later. From $276 i pay a month, only about $40 goes to the loan (Remainder is interest). They charge $1.50 per transaction when you try and pay early. When i stated I would go to the ombudsman for being penalized in relation to making additional payments - was advised to "go right ahead, its in your contracts" - they fail to advise you anything else at the time you ask questions. I was also cut off from emailing " If you need anything else jump on the support page or call". Avoid at all costs, and speak to financial planners prior to accepting any loans with these guys
I applied for a small personal loan through Latitude. I was refused because I do not have a full time job, I am a pensioner. Having a veterans tpi pension, a service pension and my superannuation, owning all my vehicles and house, that was not enough. Don't know what else to write. Never been knocked back before.
Read full reviewI applied for a small personal loan through Latitude. I was refused because I do not have a full time job, I am a pensioner. Having a veterans tpi pension, a service pension and my superannuation, owning all my vehicles and house, that was not enough. Don't know what else to write. Never been knocked back before.
I paid out my card on the 27/09/2020. On the 05/08/2020 someone emailed me and advised that my account was closed. I currently have a home loan on a tight deadline being processed and have found out today that it has been delayed due to this card (debt) still being open. Phoned two people today - one told me it was closed as of 05/08/2020 - the other told me it was still open, closed it and told me I would get a reference code text message in one hour so that I could print off a closure letter. One hour later, call centre now closed and no text or closure letter, which I needed to send onto the bank to prevent my loan and house settlement being delayed any further. Pretty disappointed that Latitude continued to keep this debt open when I gave them specific instructions to close it twice and have no faith in their customer service, considering I have had three employees, who have all given me completely different answers RE my account being closed. It’s like no one knows what’s going on at their end - which is scary when it’s our credit rating on the line!! Will never be going with Latitude again!!
Read full reviewI paid out my card on the 27/09/2020. On the 05/08/2020 someone emailed me and advised that my account was closed. I currently have a home loan on a tight deadline being processed and have found out today that it has been delayed due to this card (debt) still being open. Phoned two people today - one told me it was closed as of 05/08/2020 - the other told me it was still open, closed it and told me I would get a reference code text message in one hour so that I could print off a closure letter. One hour later, call centre now closed and no text or closure letter, which I needed to send onto the bank to prevent my loan and house settlement being delayed any further. Pretty disappointed that Latitude continued to keep this debt open when I gave them specific instructions to close it twice and have no faith in their customer service, considering I have had three employees, who have all given me completely different answers RE my account being closed. It’s like no one knows what’s going on at their end - which is scary when it’s our credit rating on the line!! Will never be going with Latitude again!!
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