Latitude Low Rate Secured Personal Loan

9.99% p.a.

11.22% p.a.based on $30,000
over 5 years

$250

Latitude Low Rate Secured Personal Loan

9.99% p.a.

11.22% p.a.based on $30,000
over 5 years

$250

Mozo Review   Latitude Low Rate Secured Personal Loan Review

Last updated: 5 December 2019.

What's hot:
  • 9.99% fixed rate (11.22% comparison rate*)

  • Flexible repayment schedule

  • Fee-free extra repayments

  • No loan limit

What's not:
  • $20k loan minimum

  • No redraw facility

Mozo snapshot:

Low rate secured personal loans can be hard to come by, so this product by Latitude with a competitive fixed rate is well worth a look-in for Aussies in need of $20,000 or more. And with your choice of weekly, fortnightly or monthly repayments, you should have no problem fitting a Latitude Low Rate Personal Loan into your budget.

Key features:

It’s easy to see why Latitude's Low Rate Personal Loan might be a standout in your shortlist with a competitive 9.99%  fixed rate (11.22% comparison rate*).

Latitude offers a set weekly, fortnightly or monthly repayment frequency to choose from (as well as which day of the week due dates fall on). But that’s not to say you can’t go ahead and make repayments more frequently. Just be mindful that the Latitude Low Rate Personal Loan doesn’t come with a redraw facility.

Contracts range from 2 to 7 years, and like other fixed rate loans in the market early loan repayment fees apply in the first half of your loan term.

Latitude’s Low Rate Personal Loan is for borrowers who haven’t taken out a loan for personal use with the provider before, and eligibility also requires the applicant owns a home or has a mortgage. Ongoing monthly costs and an application fee applies.

Who it's good for:

The Latitude Low Rate Personal Loan (secured option) is suited to Aussies in need of $20,000 or more to help fund their dreams.

Any catches?

Latitude only offers this loan to Aussies who haven’t taken out a personal loan with them before. And even though Latitude’s Low Rate Personal Loan is secured, to be eligible for it you’ll need to be a homeowner or have a home loan in your name.


Details

Rates and fees information correct as at 29 January 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 9.99% p.a. fixed

  • 11.22% p.a.based on $30,000
    over 5 years

Fees
  • $250.00

  • $13.00

  • $35.00

  • $0.00

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

Other financial bits
  • $20,000.00

  • none

  • 2 Years

  • 7 Years

  • Residential Property, Various, Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • Applicants must be homeowners or have a mortgage.

  • none

*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.

Customer Reviews

How are Latitude personal loans rated by the Mozo community?

Overall customer rating
4.7/10
Price
4.1/10
Features
4.3/10
Customer service
5.4/10
Convenience
4.9/10
Trust
4.9/10
Latitude

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.

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