On the hunt for a solid personal loan to cover a holiday, home renovation or other big upcoming purchase? The Latitude Secured Personal Loan has fixed rates from 6.49% p.a. (7.75% p.a. comparison rate*) on loans from $3,000 or more and 1-7 year loan terms.
The Latitude Personal Secured Loan gets the ball rolling with fixed rates from 6.49% p.a. (7.75% p.a. comparison rate*) on loans amounts of $3,000 or more with no maximum loan amount and flexible loan term options ranging from 1 to 7 years.
And if you’re after a loan with lots of legroom, then it could be your lucky day! With the Latitude Personal Loan, you’ll have the freedom to choose between either weekly, fortnightly or monthly repayment options. So, you can work your regular repayments to suit your budget and lifestyle.
Keep in mind, that being a secured loan type, the Latitude Personal Secured Loan requires you to put an asset up as security for the loan, such as your car.
On top of all this, the Latitude Personal Loan offers a bunch of other features, like the ability to make extra loan repayments. Just remember a $300 early repayment penalty applies if you pay out your whole loan in the first half of your term.
There is an establishment fee to consider, which is $140 for loans under $5,000 or $250 for loans over $5,000. This loan also comes with quite a few fees such as the $13 monthly service fee and a $35 late payment fee if you don’t make the minimum monthly repayment by your agreed due date.
With a $3,000 minimum and no maximum loan amount and a fixed interest rate for the life of the loan, the Latitude Secured Personal Loan is a suitable personal loan option for most Aussies over the age of 18. To compare the interest rates of Latitude with other lenders in our database, head to our personal loans hub.
Other eligibility requirements for this loan include: you must a permanent Australian resident, employed, demonstrate a good credit history for the past 5 years and be free from bankruptcy for the last 7 years.
You can make extra repayments but just be aware that if you pay your loan off within the first half of the loan term, a $300 early repayment penalty will apply. There is no early repayment penalty if you pay out the loan in the second half of the loan.
Fixed
6.49% p.a.to 19.49% p.a. fixed
7.75% p.a.to 20.66% p.a.based on $30,000
over 5 years
$250.00
$13.00
$35.00
$0.00
$300 in first half of loan, $0 in second half.
$3,000.00
none
1 Year
7 Years
Various
Weekly, Fortnightly, Monthly
yes
no
To receive minimum rate applicants must be homeowners or have a mortgage, have an excellent credit rating and be a new Personal Loan customer. Application fee is $140 for loans under $5,000.
none
They have pretty high fees and interest rates.
Read full reviewThey have pretty high fees and interest rates.
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.
Read full reviewWhere 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.
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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