Latitude Personal Loan (Unsecured)

13.99% p.a.to 29.99% p.a.

15.19% p.a.to 31.2% p.a.based on $30,000
over 5 years

$250

Latitude Personal Loan (Unsecured) Review

Rates and fees information correct as at 22 April 2018.

Review published: 17 March 2017

What's hot:

  • Fee-free extra repayments facility

  • Loans starting from $3k

  • Flexible choice of billing cycle

What's not:

  • Monthly admin fees

  • Early loan repayment penalties can apply

Mozo snapshot:

Are you after a fixed rate loan with plenty of flexibility? Then Latitude’s unsecured Personal Loan could be just for you. Loans start from $3,000 and depending on your credit score you could receive a rate as low as 13.99%. You’ll also get a range of flexible features including an extra repayments facility and your choice of repayment frequency.

Key features:

The great thing about Latitude’s unsecured Personal Loan is you don’t need an asset like a vehicle to sign that dotted line, making the whole application process that little bit easier.

Latitude Personal Loan amounts can start from as little as $3,000, and there’s no limit on how much you can apply for. Another plus is that you can choose your billing cycle and the actual day you’re expected to make repayments (aka making it easy to time it with when your employer pays you).

One potential downfall with this loan is that you can’t access extra repayments through a redraw facility. But then again, that might be a good thing if you need the discipline to cut down that debt.

If you really hit the extra repayments hard and pay your balance off in the first half of your loan term, there is a $300 early termination fee to consider. The good news is that you don’t get charged a fee for paying off your loan in the second half of your agreed term.

Who it's good for:

Customers after a flexible personal loan, with a fixed rate attached for repayment stability over the loan term.

Any catches?

If your credit score isn’t in good shape, it’s worth keeping in mind that while interest rates for this loan start at 13.99% they can be as high as 29.99%.

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 reviews of Latitude Personal Loan (Unsecured)

Latitude

Latitude Personal Loan (Fixed, Unsecured) personal loan review

Overall rating   5 / 10

Convienient but not good value

Their rates are too high and I feel they only want to "up sell" every time I speak to them.

Full review

Their rates are too high and I feel they only want to "up sell" every time I speak to them.

    Price   3 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   3 / 10

Less

Pauline (VIC), reviewed about 2 years ago

Latitude

Latitude Personal Loan (Fixed, Unsecured) personal loan review

Overall rating   1 / 10

Do not get a GE credit card

Do not get a GE credit card...its a debt for life. You can't transfer your debt to any other financial instution. Their interest rates are ridiculous.

Full review

Do not get a GE credit card...its a debt for life. You can't transfer your debt to any other financial instution. Their interest rates are ridiculous.

    Price   1 / 10

    Features   1 / 10

    Customer service   1 / 10

    Convenience   1 / 10

    Trust   1 / 10

Less

Alex (VIC), reviewed over 2 years ago

Latitude

Latitude Personal Loan (Fixed, Unsecured) personal loan review

Overall rating   3 / 10

Good service.

Very expensive interest.

Full review

Very expensive interest.

    Price   3 / 10

    Features   4 / 10

    Customer service   8 / 10

    Convenience   4 / 10

    Trust   5 / 10

Less

Terry (NSW), reviewed over 2 years ago

Latitude

Latitude Personal Loan (Fixed, Unsecured) personal loan review

Overall rating   7 / 10

Knowledgeable and helpful staff

High percentage . Friendly service.

Full review

High percentage . Friendly service.

    Price   5 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   6 / 10

    Trust   7 / 10

Less

Dagmar (VIC), reviewed over 2 years ago

Latitude

Latitude Personal Loan (Fixed, Unsecured) personal loan review

Overall rating   3 / 10

Hard to get out of it

Interest too high.

Full review

Interest too high.

    Price   3 / 10

    Features   5 / 10

    Customer service   6 / 10

    Convenience   3 / 10

    Trust   3 / 10

Less

Jenelle (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

  • 13.99% p.a.to 29.99% p.a. fixed

  • 15.19% p.a.to 31.2% 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

  • Unsecured

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.

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