Latitude Low Rate Personal Loan (Secured)

10.99% p.a.

12.21% p.a.based on $30,000
over 5 years


Latitude Low Rate Personal Loan (Secured) Review

Rates and fees information correct as at 22 August 2018.

Review published: 14 March 2017

What's hot:

  • Low fixed rate from 10.99% (comparison rate from 12.22%)

  • No maximum loan amount

  • Choose your repayment frequency

What's not:

  • $20,000 minimum loan amount

  • Must be a homeowner or have a mortgage

Mozo snapshot:

With a competitive interest rate and flexible repayment features to offer big borrowers, it’s no wonder celebrity funny man, Alec Baldwin endorses the Latitude Low Rate Personal Loan.

Key features:

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.

Any catches?

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.

How are Latitude personal loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust

Based on 63
Latitude personal loans reviews

3.7 3.9 5.1 4.6 4.5

Read Latitude personal loan reviews by the Mozo community

Latest review of Latitude Low Rate Personal Loan (Secured)


Latitude Low Rate Personal Loan (Fixed, Secured) personal loan review

Overall rating   10 / 10

Great customer service catered to your needs

I really needed to get a personal loan for some debt consolidation and was finding it extremely difficult in my situation. There were no banks willing to move around me and help out, they sold what they sold and didn't change. I was hoping to...

Full review

I really needed to get a personal loan for some debt consolidation and was finding it extremely difficult in my situation. There were no banks willing to move around me and help out, they sold what they sold and didn't change. I was hoping to stick with a big bank just because I thought that they were more trustworthy but it didn't work out. I ended up calling Latitude as a last resort even though the interest rate was a lot higher than I was hoping. They took into account how I wanted to consolidate my debt and helped me calculate it. After finding out that this wouldn't be a viable option they let me know that I could instead consolidate different debts and then use my car I had just paid off as leverage. They then said that they could lower the interest rate and give me extra on my loan. I got to talk to the same person throughout the whole process. It took a few different phone calls because of all the information that was needed but I was never left on hold for long periods. I was kept informed during every step of the process and after dealing with the big banks, Latitude were a breath of fresh air. I would recommend them to anyone.

    Price   10 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10


Nikita (VIC), reviewed over 1 year ago

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  • Fixed

  • 10.99% p.a. fixed

  • 12.21% p.a.based on $30,000
    over 5 years


  • $250.00

  • $13.00

  • $35.00

  • $150.00

  • $300 in first half of loan, $0 in second half.

Other financial bits

  • $20,000.00

  • none

  • 2 Years

  • 7 Years

  • Vehicle


  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • Applicants must be homeowners or have a mortgage.

  • none

About Latitude

Latitude positions itself as an alternative to the "Big 4" banks in Australia and offer banking products and services with a focus on convenience and customer service. Latitude provides personal insurance and loans, financing options and credit cards.

*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. WARNING: 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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