3.0 / 10

based on 32 reviews as rated by Mozo community

Liberty personal loans

Liberty has been providing home loans, personal and business loans to thousands of Australians since 1997. If you’re looking for an alternative lender to finance that new car or next holiday, scroll down for the lowdown on Liberty’s two personal loan types.

Liberty offers the following personal loans

Rates and fees verified as correct at 27 February, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Drive Car Loan (Fixed, Secured)

6.49% p.a.

8.58% p.a.based on $30,000
over 5 years

$995

Drive Car Loan (Variable, Secured)

6.49% p.a.

8.58% p.a.based on $30,000
over 5 years

$995

Personal Loan (Fixed, Unsecured)

6.45% p.a.to 26.99% p.a.

6.45% p.a.to 26.99% p.a.based on $30,000
over 5 years

$0

Liberty Personal Loans Overview

Variable rate car loan

If you’re in need of a car upgrade quicksmart, Liberty can approve you for a loan in minutes. There’s a fairly high signup fee to begin with, but zero monthly fees to follow. The Liberty car loan has a variable rate, which means it can change at any point. With this loan you tie your vehicle to it as security and in return score a low, competitive rate. The car price tag can range from $5,000 to $100,000 and be repaid on a loan term of two to seven years (but if you are under 23, the max you can borrow is $35,000). Liberty is fine with you making extra loan repayments, just be mindful there is no redraw facility. If you decide to wipe off your debt early early, you may incur a small discharge fee.

Unsecured personal loan

Dubbed the “Personal Best” loan, this Liberty unsecured loan has similar features to a line of credit because you only pay interest on the money you use. Unlike the Liberty variable car loan it has a low fixed rate. The loan limit you set with Liberty can range from $5,000 to $50,000 on a term between one and seven years. You can opt in for a personal loan debit card for spending on-the-go, which can suit borrowers on holidays or those planning a wedding. Extra repayments are free and you can redraw from them too. There are no fees with Liberty’s personal best loan except for a signup cost.

Liberty personal loan features at a glance

How do you apply for a Liberty personal loan?

Lucky for you there is no paperwork involved with Liberty personal loan applications. Just fill out the online form and Liberty will let you know whether you’ve been approved within minutes. For questions ring the freecall number listed on its site or click the live chat icon.

To apply for a personal loan with Liberty you will need:


How are Liberty personal loans rated?

Mozo users have rated Liberty personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
Liberty personal loans
Overall
0.5/10
Price
Features
Customer service
Convenience
Trust

2 Reviews

Recent Liberty personal loan reviews

Liberty Personal Loan review
Overall 1/10
Terrible service.

Terrible customer service and decision outcome. I submitted an application online with a company that prides themselves to have a decision delivered within 1-2 days, yet 7 days later the only response received is by text message "we are working on it almost there :) ". No other concerns with application and when I asked them more questions they ask for an everyday statement to be uploaded via portal. I've been told that there are no issues with underwriting the loan, but still need a statement. This is is one entire week later yet no one can sign off on a statement that was already provided from a branch on an official letterhead, uploaded as PDF format as everyday passbook account does not come with internet access. Asked to accept under exception by higher authority but no answer provided by customer service. I do not recommend to apply with this company, save yourself the hassle and go where they will approve within the same day.

Read full review

Terrible customer service and decision outcome. I submitted an application online with a company that prides themselves to have a decision delivered within 1-2 days, yet 7 days later the only response received is by text message "we are working on it almost there :) ". No other concerns with application and when I asked them more questions they ask for an everyday statement to be uploaded via portal. I've been told that there are no issues with underwriting the loan, but still need a statement. This is is one entire week later yet no one can sign off on a statement that was already provided from a branch on an official letterhead, uploaded as PDF format as everyday passbook account does not come with internet access. Asked to accept under exception by higher authority but no answer provided by customer service. I do not recommend to apply with this company, save yourself the hassle and go where they will approve within the same day.

Price
4/10
Features
3/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Khanekeo, New South Wales, reviewed about 1 month ago

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