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) Review

Rates and fees information correct as at 22 April 2018.

Review published: 27 March 2017

What's hot:

  • Loans start from $3k

  • No loan limit

  • Fee-free extra repayments

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.

How are Latitude personal loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
4.4

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 Personal Loan (Secured)

Latitude

Latitude Personal Loan (Fixed, Secured) personal loan review

Overall rating   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 and speak to a local person.

Full review

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

Less

Berneice (QLD), reviewed over 2 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

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

  • 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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Compare other personal loans
Advertisement