Wisr offers a fast online application process for loans from $5,000-$50,000 over a 3 or 5 year period and the unsecured interest rate means you don't have to worry about securing the loan with property or assets.
Keep in mind, like many peer to peer and online lenders in Australia, Wisr uses a risk-based pricing strategy, which means they offer different rates depending on your credit history. So if you have an A-grade credit rating you'll be eligible to receive the 8.50% but if you're in the D-grade category you could face a rate as high as 19.95%.
While the Wisr Personal Loan has no ongoing fees or early repayment fee, you'll have to pay a $595 upfront fee and if you're late on your monthly repayments you'll be slapped with a $25 late fee.
Who it's good for:
If you're looking to fund your next reno or pay for your overseas escape in a hurry, the Wisr Personal Loan could be your borrowing match.
You can only apply for the Wisr Personal Loan if you're employed and earn a gross annual income of at least $30,000.