Wisr 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

$595

Wisr 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

$595

Mozo Review   Wisr Unsecured Personal Loan Review

Last updated: 9 October 2019.

What's hot:
  • Fixed rates from 7.95% (8.78% comparison rate*)

  • No early repayment fee

  • No ongoing fees

What's not:
  • $595 upfront fee

Mozo snapshot:

Wisr is an online-only player shaking up the personal loan market, by offering juicy interest rates starting from just 7.95% and no ongoing fees. The peer to peer lender has a speedy application and approval process with access to funds on the same day for some borrowers - making purchasing your new wheels or starting your next renovation a breeze!

Key features:

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 7.95% 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.

Any catches?

You can only apply for the Wisr Personal Loan if you're employed and earn a gross annual income of at least $30,000.

Details

Rates and fees information correct as at 25 February 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

  • 7.95% p.a.to 19.45% p.a. fixed

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

Fees
  • $595.00

  • $0.00

  • $25.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • $50,000.00

  • 3 Years

  • 5 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • none

  • none

*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 Wisr personal loans rated by the Mozo community?

Overall customer rating
0.0/10
Price
0.0/10
Features
0.0/10
Customer service
0.0/10
Convenience
-
Trust
0.0/10

Latest review of Wisr Unsecured Personal Loan

  • Overall 0/10
    Avoid at all costs.

    I have not dealt with a company more horrible, more self centred or just plain rude in my whole life. I would suggest that you stay as far away from them as you possibly can. They don't care about anything or anyone - just profit and lining the pockets of the people that own them. I have been a victim of financial domestic violence, which involved my ex forcing me to take out a loan for him with these people through a broker. And when I got the IVO and contacted them, they basically bullied me and said they don't care - I have to pay the loan even though I got nothing from it. He took the lot! I am a single mother and I live from pay cheque to pay cheque but they don't care.

    Read full review

    I have not dealt with a company more horrible, more self centred or just plain rude in my whole life. I would suggest that you stay as far away from them as you possibly can. They don't care about anything or anyone - just profit and lining the pockets of the people that own them. I have been a victim of financial domestic violence, which involved my ex forcing me to take out a loan for him with these people through a broker. And when I got the IVO and contacted them, they basically bullied me and said they don't care - I have to pay the loan even though I got nothing from it. He took the lot! I am a single mother and I live from pay cheque to pay cheque but they don't care.

    Price
    0/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    -1/10
    Trust
    0/10
    Less
    Jodi, Victoria reviewed 15 days ago

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

$595.00upfront and $0.00/month

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over 5 years

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over 5 years

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over 3 years

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