Symple Loans Personal Loan

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Have a debt you need to pay off? A holiday you want to book? Or do you need to cover an outstanding medical bill? Then with Symple Loans personalised variable rate loans, the ball is in your court. You can borrow up to $50,000 with this loan, with a term of up to 7 years. Plus, you can have the money in your account the next business day.

Key features

Simple really is the word with the Symple Loans unsecured personal loan, with interest rates from 5.75% p.a. (6.47% p.a. comparison rate*) on loans between $5,000 and $50,000 for 1 to 7 year loan terms.

And if awesome features are what you’re looking for in a personal loan, then you’ve come to the right place. Symple Loans' personal loan has an online application process, funds that can be transferred in up to 24 hours and extra repayment options with no fees attached, so you can pay your loan off in no time! However, remember once you’ve made those extra repayments, that’s it, as there is no redraw facility with this loan.

And make sure you keep on top of your repayments, otherwise, you’ll be hit with a nasty $35 late payment fee.

Other fees to keep an eye on with a Symple Loans personal loan include the $10 monthly service fee.

While all customers with the lowest rate of 5.75% p.a. (6.47% p.a. comparison rate*) won't be charged any loan application fees, you will need to factor in an upfront fee ranging from 0% to 5% of the loan amount if the rate you've received is higher. For example, for 1% of a $30,000 loan, you may pay a $300 application fee. This could get steep if you're borrowing a larger amount.

Who is it good for

Anyone looking for an affordable personal loan with personalised interest rates and loan terms of up to 7 years.

To qualify for a Symple loan you must:

• Be at least 18 yrs old

• Be employed and earning over $25,000 per year

• Be an Australian citizen, or permanent resident

• Have no record of prior bankruptcy

Any catches

This loan may come with an application fee if you receive a higher rate than 5.75% p.a. (6.47% p.a. comparison rate*), plus a monthly fee to consider, so make sure you plan for that in your budget.