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RateSetter Unsecured Personal Loan

The details shown below are for a variable loan between $2,001 and $45,000

The details shown below are for a variable loan between $2,001 and $45,000

The details shown below are for a variable loan between $2,001 and $45,000

Choose the version of this loan that suits you best

  • Loan: $2,001 $45,000

  • Loan: $2,001 $45,000

  • Loan: $2,001 $45,000

Interest rate from
7.49% p.a.to 8.89% p.a.
Comparison rate from*
9.50% p.a.to 10.91% p.a.based on $10,000
over 3 years
Upfront fee
$299
Go to site
Interest rate from
8.89% p.a.to 10.89% p.a.
Comparison rate from*
10.91% p.a.to 13.16% p.a.based on $10,000
over 3 years
Upfront fee
$299
Go to site
Interest rate from
10.89% p.a.to 13.89% p.a.
Comparison rate from*
13.16% p.a.to 18.13% p.a.based on $10,000
over 3 years
Upfront fee
$299
Go to site

Mozo editorial review RateSetter Unsecured Personal Loan

Last updated: 29 June 2020.

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What's hot
  • No early repayment fee
  • Competitive interest rates
  • 2019 Mozo Experts Choice Award winner
What's not
  • Loans only available for creditworthy borrowers
Mozo snapshot

RateSetter is a peer to peer lender that has entered the personal loan market in Australia with a bang by offering highly competitive interest rates, and a speedy online application process. Aside from offering a great interest rate, there are no early repayment or exit fees. Oh and did we mention that this loan also has a 2019 Mozo Experts Choice Award winner under its belt? 

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Key features

The RateSetter Unsecured Personal Loan is available for loans from $2,001 to $45,000 over a 1 to 2 year period. RateSetter promises you'll get a decision within one business day and in some cases you can expect the funds to reach your account on the same day. And the great thing about an unsecured loan is you don't have to worry about providing assets to secure the loan.

Like other peer to peer platforms, RateSetter connects lenders directly with creditworthy borrowers. The rates offered will depend on your credit history:

Good credit: 10.89% - 13.89% p.a. (13.16% - 18.13% p.a. comparison rate*)

Very good credit: 8.89% - 10.89% p.a. (10.91% - 13.16% p.a. comparison rate*)

Excellent credit: 7.49% - 8.89% p.a. (9.50% - 10.91% p.a. comparison rate*)

You can also ask for an obligation free RateEstimate before applying. This won't impact on your credit score if you decide not to proceed with the application. What’s more, you’ll be able to make extra repayments and won’t have to worry about any monthly fees. Just make sure you stay on top of your monthly repayments, otherwise a $30 late payment fee will apply.

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Who is it good for

The RateSetter Unsecured Personal Loan is perfect for anyone looking for a low interest rate loan to fund their overseas holiday, new car or home revamp. 


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Any catches

RateSetter will only lend to you if you're over the age of 24 and work full time earning over $35,000 a year. You must also have a good credit history for the past 5 years and not have been bankrupt in the past 7 years. Finally, there are a few fews you’ll need to budget for, namely the upfront fee, which can range from $149 to $649.



Details

Rates and fees information correct as at 3 July 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
  • Variable

  • 7.49% p.a.variable

  • 9.50% p.a.to 10.91% p.a.based on $10,000
    over 3 years

Fees
  • $299.00

  • $0.00

  • $30.00

  • $0.00

  • $0.00

Other financial bits
  • $2,001.00

  • $45,000.00

  • 1 Year

  • 2 Years

  • Unsecured

Features
  • Monthly

  • yes

  • no

  • Displayed interest rate is for customers with an excellent credit history.

  • Up front fee may be higher than shown depending on your application

*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.

Details

Rates and fees information correct as at 3 July 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
  • Variable

  • 8.89% p.a.variable

  • 10.91% p.a.to 13.16% p.a.based on $10,000
    over 3 years

Fees
  • $299.00

  • $0.00

  • $30.00

  • $0.00

  • $0.00

Other financial bits
  • $2,001.00

  • $45,000.00

  • 1 Year

  • 2 Years

  • Unsecured

Features
  • Monthly

  • yes

  • no

  • Displayed interest rate is for customers with a very good credit history.

  • Up front fee may be higher than shown depending on your application

*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.

Details

Rates and fees information correct as at 3 July 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
  • Variable

  • 10.89% p.a.variable

  • 13.16% p.a.to 18.13% p.a.based on $10,000
    over 3 years

Fees
  • $299.00

  • $0.00

  • $30.00

  • $0.00

  • $0.00

Other financial bits
  • $2,001.00

  • $45,000.00

  • 1 Year

  • 2 Years

  • Unsecured

Features
  • Monthly

  • yes

  • no

  • Displayed interest rate is for customers with a good credit history.

  • Up front fee may be higher than shown depending on your application

*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 RateSetter personal loans rated by the Mozo community?

Overall customer rating
5.0/10
Price
7.0/10
Features
5.0/10
Customer service
8.0/10
Convenience
9.0/10
Trust
4.0/10
RateSetter

About RateSetter

UK-based RateSetter is one of the world’s largest peer to peer lenders (P2P) and has lent over $500 million since launching in October 2010. Its goal is to redefine savings and loans in Australia by cutting out the banks and providing more competitive interest rates to consumers.

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7.65% p.a.to 26.99% p.a.

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5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
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9.89% p.a.

10.14% p.a.based on $30,000
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Wisr

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Unsecured Personal Loan

7.95% p.a.to 19.45% p.a.

8.78% p.a.to 20.4% p.a.based on $30,000
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7.45% p.a.to 16.95% p.a.

9.07% p.a.to 18.53% p.a.based on $30,000
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9.35% p.a.

9.67% p.a.based on $30,000
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5.50% p.a.

5.85% p.a.based on $30,000
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Clean Green Car Loan

3.97% p.a.

4.51% p.a.based on $30,000
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9.89% p.a.

10.14% p.a.based on $30,000
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4.67% p.a.

5.22% p.a.based on $30,000
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8.00% p.a.

8.21% p.a.based on $30,000
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7.50% p.a.to 14.99% p.a.

9.51% p.a.to 12.71% p.a.based on $10,000
over 3 years

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Unsecured Personal Loan (Fixed)

7.65% p.a.to 26.99% p.a.

7.65% p.a.to 23.5% p.a.based on $30,000
over 5 years

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5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

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7.45% p.a.to 16.95% p.a.

9.07% p.a.to 18.53% p.a.based on $30,000
over 5 years

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Unsecured Personal Loan

7.95% p.a.to 19.45% p.a.

8.78% p.a.to 20.4% p.a.based on $30,000
over 5 years

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Unsecured Personal Loan

7.49% p.a.to 8.89% p.a.

9.50% p.a.to 10.91% p.a.based on $10,000
over 3 years

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CUA

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Unsecured Personal Loan (Fixed)

9.89% p.a.

10.14% p.a.based on $30,000
over 5 years

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Symple Loans

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5.75% p.a.to 21.99% p.a.

6.47% p.a.

$10.00

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Unsecured Personal Loan

7.45% p.a.to 16.95% p.a.

9.07% p.a.

$13.00

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OurMoneyMarket

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5.50% p.a.

5.85% p.a.

$0.00

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Clean Green Car Loan

3.97% p.a.

4.51% p.a.

$0.00

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4.67% p.a.

5.22% p.a.

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6.79% p.a.

8.83% p.a.

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