Latitude’s Low Rate Personal Loan has a lot going for it, with a fixed interest rate starting from 10.99% and flexible features. Just keep in mind, because it's a secured loan you'll need to tie an asset, such as your car, to the loan.
While Latitude Low Rate Personal Loans start from the $20,000 mark, the uncapped loan potential makes it suitable to help fund big purchases. Customers can choose from a weekly, fortnightly or monthly repayment cycle, plus which day of the week it falls on.
Extra repayments are fee-free, but think carefully about finalising your loan in the first half of the loan term, as it will set you back $300. There’s no early termination fee if you pay off your loan in the second half of your loan term. Contracts can range from 2 to 7 years.Are you sold? Of course, you’ll need to fit the criteria to snag this loan, which includes being a new customer and having an excellent credit history. There’s also ongoing monthly administration costs and a one off $250 application fee to budget for.
Who it's good for:
Borrowers looking to borrow over $20,000, prefer competitive fixed interest rates and haven’t taken out a personal loan with Latitude before.
To qualify for Latitude’s Low Rate Personal Loan, you must own property or have a mortgage. And like most personal loans in the market with a competitive rate attached, your credit rating should be in good shape too.