Latitude Personal Loan (Secured)

12.99% p.a.to 28.99% p.a.

14.20% p.a.to 30.13% p.a.based on $30,000
over 5 years

$250

Latitude Personal Loan (Secured)

12.99% p.a.to 28.99% p.a.

14.20% p.a.to 30.13% p.a.based on $30,000
over 5 years

$250

Mozo Review   Latitude Personal Loan (Secured) Review

Last updated: 19 October 2018.

What's hot:
  • Loans start from $3k

  • Fee-free extra repayments

  • No loan limit

What's not:
  • Signup cost from $140 to $250

  • Monthly admin fees

Mozo snapshot:

Asset ownership works in your favour when it comes to the secured Latitude Personal Loan, as you’ll be rewarded with a competitively low rate by simply attaching collateral to the loan. What’s more, you’ll also receive a range of flexible features too.

Key features:

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.

Any catches?

When you apply for the loan, Latitude will assess your asset to determine whether it qualifies as a suitable level of security.

Details

Rates and fees information correct as at 18 November 2018. 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

  • 12.99% p.a.to 28.99% p.a. fixed

  • 14.20% p.a.to 30.13% p.a.based on $30,000
    over 5 years

Fees
  • $250.00

  • $13.00

  • $35.00

  • $150.00

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

Other financial bits
  • $3,000.00

  • none

  • 2 Years

  • 7 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • none

  • Discounted application fee of $140 for loans under $4,000.

*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

Latest review of Latitude Personal Loan (Secured)

  • Overall
    5/10
    You are only a number to them.

    Where I live we have no office and only make contact with them by phone I sometimes like to see...

    Where I live we have no office and only make contact with them by phone I sometimes like to see and speak to a local person.

    Price
    6/10
    Features
    7/10
    Customer service
    5/10
    Convenience
    3/10
    Trust
    4/10

    Berneice | Queensland

    reviewed almost 3 years ago

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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