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SocietyOne Car Loan - Excellent Credit (Fixed)

Advertiser disclosure

The details shown below are for a fixed loan between $5,000 and $50,000

The details shown below are for a fixed loan between $5,000 and $50,000

Choose the version of this loan that suits you best

  • Loan: $5,000 $50,000

  • Loan: $5,000 $50,000

Interest rate from
6.99% p.a.to 14.99% p.a.
Comparison rate from
9.00% p.a.to 18.48% p.a.based on $10,000
over 3 years
Upfront fee
$336
Go to site
Interest rate from
7.99% p.a.to 17.49% p.a.
Comparison rate from
9.25% p.a.to 19.78% p.a.based on $30,000
over 5 years
Upfront fee
$336
Go to site

Mozo editorial review SocietyOne Car Loan - Excellent Credit (Fixed)

Last updated: 15 September 2020.

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What's hot
  • Interest rate from 6.99% (9.00% comparison rate*)
  • No monthly fee
What's not
  • Maximum establishment fee $995
Mozo snapshot

The SocietyOne Car loan is an unsecured personal loan with an interest rate tailored around your credit score, starting from as low as 6.99% (9.00% comparison rate*). Some of its key features include the option to make extra repayments, a flexible repayment schedule and its lack of monthly fees. However, there is an establishment fee, which will vary depending on your credit rating. 

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Key features

SocietyOne offers an unsecured personal loan you can use to get yourself some hot new wheels. When it comes to interest rate, SocietyOne uses their VedaScore rating system to determine your credit score and in turn, how much interest you’ll be paying. The rate starts from as low as 6.99% (9.00% comparison rate*), but jumps to as high as 17.49% (19.78% comparison rate*).

This also applies to the establishment fee, which will vary depending on your credit rating. The establishment fee tiers are as follows:

  • Excellent credit rating - from 0.00%
  • Very good credit rating - from 4.25%
  • Good credit rating - from 4.50% 
  • Average credit rating - from 5.00%

In terms of dollars and cents, it is worth noting that the excellent credit rating comes with a minimum establishment fee of $0 and a maximum establishment fee of $995. The minimum establishment fee for all other credit ratings is $395 and the maximum is $995.

This fee is added to your loan principal and paid off as part of your monthly repayments, so you don't have to budget to pay it upfront.

The loan terms are little different with this loan, you’ll have the choice of a loan that offers 2-3 years terms, or a similar, but slightly different offer, that has 5 year terms. The main difference is that the 2-3 year loan rates are slightly lower.

If you’re looking for a way to pay less interest, then extra repayments could be the avenue for you. SocietyOne provides the option to make fee free extra repayments so you can pay off your loan quicker and with less interest.

There’s also the ability to choose between fortnightly and monthly repayments, letting you personalise your repayment schedule to fit your budget.

Something else to keep in mind if you apply for this loan is that you’ll need to be employed and earning at least $30,000 a year to be eligible.

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Who is it good for

Individuals with excellent credit are going to have the chance to secure a strong interest rate they can be happy with, so if your credit history is squeaky clean, this might be worth a look.

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Any catches

While some versions of this loan offer great rates, people with bad credit will find themselves with a rather high and not particularly desirable rate, so it's worth identifying which end of the spectrum you’ll end up on before applying.

Details

Rates and fees information correct as at 29 November 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

  • 6.99% p.a.to 14.99% p.a. fixed

  • 9.00% p.a.to 18.48% p.a.based on $10,000
    over 3 years

Fees
  • $335.95

  • $0.00

  • $35.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • $50,000.00

  • 2 Years

  • 3 Years

  • Unsecured

Features
  • Fortnightly, Monthly

  • yes

  • no

  • Interest rate and establishment fee vary according to Equifax credit score. Rates and fees shown are for a Tier 1 graded borrower. Minimum employment income of $30,000 p.a. 3% application fee added to principal amount of loan.

  • Establishment fee from 3% (with minimum fee of $300) is added to principal loan amount and not paid upfront, amount shown is the minimum for a 3 year loan of $10,000 including interest.

WARNING: 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. 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 29 November 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

  • 7.99% p.a.to 17.49% p.a. fixed

  • 9.25% p.a.to 19.78% p.a.based on $30,000
    over 5 years

Fees
  • $335.95

  • $0.00

  • $35.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • $50,000.00

  • 5 Years

  • 5 Years

  • Unsecured

Features
  • Fortnightly, Monthly

  • yes

  • no

  • Interest rate and establishment fee vary according to Equifax credit score. Rates and fees shown are for a Tier 1 graded borrower. Minimum employment income of $30,000 p.a. 3% application fee added to principal amount of loan.

  • Establishment fee from 3% (with minimum fee of $300) is added to principal loan amount and not paid upfront, amount shown is the minimum for a 3 year loan of $10,000 including interest.

WARNING: 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. 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 SocietyOne personal loans rated by the Mozo community?

Overall
5.8/10
Price
6.2/10
Features
3.0/10
Customer service
5.3/10
Convenience
5.0/10
Trust
5.3/10
SocietyOne

SocietyOne

Unsecured Personal Loan (Fixed)

6.99% p.a.to 9.49% p.a.

6.99% p.a.

$0.00

NOW Finance

NOW Finance

Unsecured Personal Loan

6.95% p.a.to 17.95% p.a.

6.95% p.a.to 17.95% p.a.based on $30,000
over 5 years

OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years

Symple Loans

Symple Loans

Personal Loan

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

Alex

Alex

Personal Loan

6.95% p.a.to 19.99% p.a.

6.95% p.a.to 19.99% p.a.based on $30,000
over 5 years

SocietyOne

SocietyOne

Unsecured Personal Loan (Fixed)

6.99% p.a.to 9.49% p.a.

6.99% p.a.to 12.2% p.a.based on $10,000
over 3 years

Wisr

Wisr

Unsecured Personal Loan

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

8.22% p.a.to 19.76% p.a.based on $30,000
over 5 years

Liberty

Liberty

Personal Loan

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

CUA

CUA

Unsecured Personal Loan (Fixed)

9.39% p.a.

9.64% p.a.based on $30,000
over 5 years

Plenti

Plenti

New Car Loan (Fixed)

4.89% p.a.to 8.89% p.a.

5.44% p.a.to 9.46% p.a.based on $30,000
over 5 years

OurMoneyMarket

OurMoneyMarket

Car Loan

5.50% p.a.

5.85% p.a.based on $30,000
over 5 years

Wisr

Wisr

Secured Car Loan

5.19% p.a.to 18.95% p.a.

5.46% p.a.to 19.26% p.a.based on $30,000
over 5 years

Heritage Bank

Heritage Bank

Car Loan

4.89% p.a.

5.53% p.a.based on $30,000
over 5 years

loans.com.au

loans.com.au

New Car Loan (Fixed)

4.67% p.a.

5.22% p.a.based on $30,000
over 5 years

P&N Bank

P&N Bank

Secured Personal Loan

6.81% p.a.

7.80% p.a.based on $30,000
over 5 years

CUA

CUA

Secured Car Loan (Fixed)

6.79% p.a.

7.16% p.a.based on $30,000
over 5 years

loans.com.au

loans.com.au

Clean Green Car Loan

3.97% p.a.

4.51% p.a.based on $30,000
over 5 years

NOW Finance

NOW Finance

Unsecured Personal Loan

6.95% p.a.to 17.95% p.a.

6.95% p.a.to 17.95% p.a.based on $30,000
over 5 years

Alex

Alex

Personal Loan

6.95% p.a.to 19.99% p.a.

6.95% p.a.to 19.99% p.a.based on $30,000
over 5 years

SocietyOne

SocietyOne

Unsecured Personal Loan (Fixed)

6.99% p.a.to 9.49% p.a.

6.99% p.a.to 12.2% p.a.based on $10,000
over 3 years

OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years

Liberty

Liberty

Personal Loan

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

CUA

CUA

Unsecured Personal Loan (Fixed)

9.39% p.a.

9.64% p.a.based on $30,000
over 5 years

Symple Loans

Symple Loans

Personal Loan

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

Wisr

Wisr

Unsecured Personal Loan

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

8.22% p.a.to 19.76% p.a.based on $30,000
over 5 years

NOW Finance

NOW Finance

Unsecured Personal Loan

6.95% p.a.to 17.95% p.a.

6.95% p.a.

$0.00

Alex

Alex

Personal Loan

6.95% p.a.to 19.99% p.a.

6.95% p.a.

$0.00

OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.

$0.00

Liberty

Liberty

Personal Loan

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

6.45% p.a.

$0.00

Symple Loans

Symple Loans

Personal Loan

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

6.47% p.a.

$10.00

MoneyPlace

MoneyPlace

Unsecured Personal Loan (Fixed)

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

6.45% p.a.

$0.00

P&N Bank

P&N Bank

Secured Personal Loan

6.81% p.a.

7.80% p.a.

$10.00

Plenti

Plenti

New Car Loan (Fixed)

4.89% p.a.to 8.89% p.a.

5.44% p.a.

$0.00