Interest rates start from 12.99% (comparison rates from the 14.20% mark), which is a slightly lower starting point than the unsecured version.
The good news doesn’t stop there however, as you get to pick how frequently repayment due dates roll in (weekly, fortnightly or monthly), plus which day of the week. Another benefit is the fee-free extra repayment feature, giving you more wiggle room to cut down your debt faster. Just keep in mind that Latitude doesn’t provide a redraw facility. And like many other fixed loans in the market, break fees may apply if you repay your loan early.Latitude Personal Loan (Secured) loan terms can range from 2 years up to a maximum of 7 years. As for the overheads involved, there’s an upfront cost (from $140 to $250) in addition to monthly fees.
Who it's good for:
Borrowers in need of personal loan finance from the $3k mark that not only offers a competitive rate, but provides flexible features too.
When you apply for the loan, Latitude will assess your asset to determine whether it qualifies as a suitable level of security.