Latitude Personal Loan (Unsecured)

13.99% p.a.to 24.99% p.a.

15.19% p.a.to 26.14% p.a.based on $30,000
over 5 years

$250

Latitude Personal Loan (Unsecured)

13.99% p.a.to 24.99% p.a.

15.19% p.a.to 26.14% p.a.based on $30,000
over 5 years

$250

Mozo Review   Latitude Personal Loan (Unsecured) Review

Last updated: 31 October 2019.

What's hot:
  • Fee-free extra repayments facility

  • Flexible repayment schedule

  • Loans starting from $3k

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% (15.19% comparison rate*). 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 repayment schedule 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% (15.19% comparison rate*) they can be as high as 24.99% (26.14% comparison rate*).

Details

Rates and fees information correct as at 20 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

  • 13.99% p.a.to 24.99% p.a. fixed

  • 15.19% p.a.to 26.14% 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
  • $3,000.00

  • none

  • 2 Years

  • 7 Years

  • Unsecured

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 reviews of Latitude Personal Loan (Unsecured)

  • Overall 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.

    Read 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, Victoria reviewed almost 4 years ago
  • Overall 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.

    Read 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, Victoria reviewed about 4 years ago
  • Overall 3/10
    Good service.

    Very expensive interest.

    Read full review

    Very expensive interest.

    Price
    3/10
    Features
    4/10
    Customer service
    8/10
    Convenience
    4/10
    Trust
    5/10
    Less
    Terry, New South Wales reviewed about 4 years ago
  • Overall 7/10
    Knowledgeable and helpful staff

    High percentage . Friendly service.

    Read full review

    High percentage . Friendly service.

    Price
    5/10
    Features
    5/10
    Customer service
    8/10
    Convenience
    6/10
    Trust
    7/10
    Less
    Dagmar, Victoria reviewed over 4 years ago
  • Overall 3/10
    Hard to get out of it

    Interest too high.

    Read full review

    Interest too high.

    Price
    3/10
    Features
    5/10
    Customer service
    6/10
    Convenience
    3/10
    Trust
    3/10
    Less
    Jenelle, Queensland reviewed over 4 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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