On this page
RateCity Says: Be rewarded for your credit rating with this competitive fixed rate personal loan offering fast funding and flexible repayments.
On this page
Explore
5.99%
Fixed up to 21.99%
7.26%
$140
up to $250 . $140 for loans < $5000. $250 for loans > $5000
$3k to $70k
based on $30,000 loan amount for 3 years at 7.26%
On this page
5.99%
Fixed up to 21.99%
7.26%
$140
up to $250 . $140 for loans < $5000. $250 for loans > $5000
$3k to $70k
based on $30,000 loan amount for 3 years at 7.26%
Calculate your repayments for this loan
Your estimated repayment
$913
based on $30,000 loan amount for 3 years at 7.26%
Pros and Cons
Pros and Cons
- Interest rates ranked in the best 20%
- Lower than average rate
- Flexible repayment options
- Can apply online
- Use the loan for any worthwhile purpose
- Fast time to funding
- Service fee charged
- Requires security to be held
- Cannot apply in branch
Features and Fees
Latitude Financial Services Low Rate Secured Features and Fees
- Details
- Features
- Fees
- Permitted Loan Purposes
- Application method
Details
Total repayments $32,851 | Interest rate type Fixed |
Borrowing range $3k - $70k | Security type Secured |
Loan term 1 year to 7 years | Secured by Vehicle |
Loan type Is Fully Drawn Advance | Repayment frequency Weekly, Fortnightly, Monthly |
Features
Extra repayments Yes | Redraw facility |
Instant approval | Time to funding 24 hours |
Fees
Upfront Fee $140 up to $250 . $140 for loans < $5000. $250 for loans > $5000 | Ongoing Fee $13 Monthly |
Missed Payment Penalty $35 | Early Exit Penalty Fee $300 |
Permitted Loan Purposes
New Car | Used Car |
Motorcycle | Boat |
Debt Consolidation | Renovation |
Holidays | Medical Bill |
Shares | Student Loan |
Wedding |
Application method
Online | Phone |
Broker | In branch |
Other Benefits
Early Exit Penalty Fee is $300 within the first half of your loan term and $0 within the second half of your loan term.
Pros and Cons
- Interest rates ranked in the best 20%
- Lower than average rate
- Flexible repayment options
- Can apply online
- Use the loan for any worthwhile purpose
- Fast time to funding
- Service fee charged
- Requires security to be held
- Cannot apply in branch
Latitude Financial Services Low Rate Secured Features and Fees
- Details
- Features
- Fees
- Permitted Loan Purposes
- Application method
Details
Total repayments $32,851 | Interest rate type Fixed |
Borrowing range $3k - $70k | Security type Secured |
Loan term 1 year to 7 years | Secured by Vehicle |
Loan type Is Fully Drawn Advance | Repayment frequency Weekly, Fortnightly, Monthly |
Features
Extra repayments Yes | Redraw facility |
Instant approval | Time to funding 24 hours |
Fees
Upfront Fee $140 up to $250 . $140 for loans < $5000. $250 for loans > $5000 | Ongoing Fee $13 Monthly |
Missed Payment Penalty $35 | Early Exit Penalty Fee $300 |
Permitted Loan Purposes
New Car | Used Car |
Motorcycle | Boat |
Debt Consolidation | Renovation |
Holidays | Medical Bill |
Shares | Student Loan |
Wedding |
Application method
Online | Phone |
Broker | In branch |
Other Benefits
Early Exit Penalty Fee is $300 within the first half of your loan term and $0 within the second half of your loan term.
Compare and review personal loans with similar features
Latitude Financial Services related news
Popular personal loans searches
Ing direct
Low interest personal loans
Low doc personal loans
Fixed rate personal loans
Line of credit personal loans
Credit union personal loans
Same day personal loans
Debt consolidation personal loans
Best personal loans
Personal loans for pensioners
Cheapest personal loans
Unsecured personal loans
Secured personal loans
Guarantor personal loans
Personal loans to buy a boat
Australian personal loans
5000 personal loans
Student personal loans
FAQs
What causes bad credit ratings/scores?
Failing to repay loans and bills will damage your credit score. So will falling behind on your repayments. Your credit score will also suffer if you apply for credit too often or have credit applications rejected.
What are the pros and cons of bad credit personal loans?
In some instances, bad credit personal loans can help people with bad credit history to consolidate their debts, which can help make it easier for them to clear those debts. This is because the borrower might be able to consolidate several debts with higher interest rates (such as credit card loans) into one single debt with a lower interest rate and potentially fewer fees.
However, this strategy can backfire if the borrower spends the loaned funds instead of using it to repay the new loan. Another disadvantage of bad credit personal loans is that they have higher interest rates than regular personal loans.
Are there low doc personal loans?
Self-employed borrowers may be eligible for low doc personal loans, which require less documentation in their application process than many other personal loan options.
It’s important to remember that though low doc personal loans may require less paperwork, you may need to provide additional security, or pay a higher interest rate.
Will comprehensive credit reporting change my credit score?
Comprehensive credit reporting may change your credit score, either positively or negatively, depending on an individual's situation.
Under comprehensive credit reporting, credit providers will share more information, both positive and negative, about how you and other Australians manage credit products. That means credit reporting bureaus will be able to make a more thorough assessment of everyone’s credit behaviour. That will lead to higher scores for some consumers and lower scores for others.
Are there emergency loans with no credit checks?
While many personal loans require a credit check as part of the application process, some personal loans and payday loans have no credit checks, which may appeal to some borrowers with a bad credit score.
Keep in mind that even if a loan is available with no credit check, the lender will likely want to confirm that you can afford the repayments on your current income.
Do $4000 loans have no credit checks?
Many medium amount loans for $4000 have no credit checks and are instead assessed based on your current ability to repay the loan, rather than by looking at your credit history. While these loans can appear attractive to bad credit borrowers, it’s important to remember that they often have high fees and can be costlier than other options.
Personal loans for $4000 are more likely to have longer loan terms and will require a credit check as part of the application process. Bad credit borrowers may see their $4000 loan applications declined or have to pay higher interest rates than good credit borrowers.
Should I get a fixed or variable personal loan?
Fixed personal loans keep your interest rate the same for the full loan term, while interest rates on variable personal loans may be raised or lowered during your loan term.
A fixed rate personal loan keeps your repayments consistent, which can help keep your budgeting consistent. You won't have to worry about higher repayments if your rates were to rise. However, on a fixed loan you’ll also potentially miss out on more affordable repayments if variable rates were to fall.
What is the average interest rate on personal loans for single parents?
Like other types of personal loans, the average interest rate for personal loans for single parents changes regularly, as lenders add, remove, and vary their loan offers. The interest rate you’ll receive may depend on a range of different factors, including your loan amount, loan term, security, income, and credit score.
How can I improve my credit rating/score?
Your credit score will improve if you demonstrate that you’ve become more credit-worthy. You can do that by minimising loan applications, clearing up defaults and paying bills on time.
Another tip is to get the one free credit report you’re entitled to each year – that way, you’ll be able to identify and fix any errors.
If you want to fix an error, the first thing you should do is speak with the credit reporting body, which may take care of the problem or contact credit providers on your behalf.
The next step would be to contact your credit provider. If that doesn’t work, you can refer the matter to the credit provider’s independent dispute resolution scheme, which would be the Australian Financial Complaints Authority (AFCA).
AFCA provides consumers and small businesses with fair, free and independent dispute resolution for financial complaints.
If that doesn’t work, your final options are to contact the Privacy Commissioner and then the Office of the Information Commissioner.
How do I know if I've got a bad credit history?
You can find out what your credit history looks like by accessing what's known as your credit rating or credit score. You're also able to check your credit report for free once per year.
What are the pros and cons of personal loans?
The advantages of personal loans are that they’re easier to obtain than mortgages and usually have lower interest rates than credit cards.
One disadvantage with personal loans is that you have to go through a formal application process, unlike when you borrow money on your credit card. Another disadvantage is that you’ll be charged a higher interest rate than if you borrowed the money as part of a mortgage.
What is a credit rating/score?
Your credit rating or credit score is a number that summarises how credit-worthy you are based on your credit history.
The lower your score, the more likely you are to be denied a loan or forced to pay a higher interest rate.
What is a bad credit rating/score?
Credit ratings or credit scores are calculated by credit reporting bodies such as Equifax, Dun & Bradstreet, Experian and the Tasmanian Collection Service. These are separate organisations, so they use different systems.
Equifax gives scores between 0 and 1,200:
- 833 to 1,200 = Excellent
- 726 to 823 = Very good
- 622 to 725 = Good
- 510 to 621 = Average
- 509 or less = Below average
Dun & Bradstreet (through the Credit Simple service) gives scores between 0 and 1,000:
- 800 to 1,000 = High end
- 700 to 799 = Great
- 500 to 699 = Average
- 300 to 499 = Room to improve
- 299 or less = Low
Experian gives scores between 0 and 999:
- 961 to 999 = Excellent
- 881 to 960 = Good
- 721 to 880 = Fair
- 561 to 720 = Poor
- 0 to 560 = Very poor
The Tasmanian Collection Service doesn’t give scores. Instead, it prepares credit reports for credit providers and then lets those providers make their own assessment.
Which lenders offer bad credit personal loans?
Several dozen lenders offer bad credit personal loans in Australia. These are generally smaller lenders that aren’t household names.
Can I get guaranteed approval for a bad credit personal loan?
Few, if any, lenders would be willing to give guaranteed approval for a bad credit personal loan. Borrowers with bad credit histories can have more complicated financial circumstances than other borrowers, so lenders will want time to study your application.
It’s all about risk. When someone applies for a personal loan, the lender evaluates how likely that borrower would be to repay the money. Lenders are more willing to give personal loans to borrowers with good credit than bad credit because there’s a higher likelihood that the personal loan will be repaid.
So a borrower with good credit is more likely to have a loan approved and to be approved faster, while a borrower with bad credit is less likely to have a loan approved and, if they are approved, may be approved slower.
What is credit history?
Your credit history covers everything to do with applying for loans. It includes the number of loans you’ve applied for, the amounts you’ve borrowed and your record of meeting repayment schedules.
What is bad credit?
A person is deemed to have ‘bad credit’ when they have a poor history of managing credit and repaying debts.
What causes bad credit history?
Bad credit history is caused by filing for bankruptcy, defaulting on your debts, falling behind on your repayments and having loan applications rejected. Lenders are wary of borrowers who demonstrate this sort of behaviour because it suggests they might struggle to repay future loans.
Borrowers with bad credit may find it more difficult to be approved for a loan, or they may get higher interest rates when they do get approved.
What is an unsecured bad credit personal loan?
A bad credit personal loan is ‘unsecured’ when the borrower doesn’t offer up an asset, such as a car or jewellery, as collateral or security. Lenders generally charge higher interest rates on unsecured loans than secured loans.
What is debt consolidation?
Debt consolidation is the process of rolling several old debts into one new debt, usually to save money or for the sake of convenience.