Liberty Personal Loans
Liberty is a lender that was formed in 1997 and offers a wide range of loans for homes, cars, businesses and personal needs.
Liberty's innovative and flexible approach has allowed it to help over 600,000 customers by advancing more than $28 billion in funds over 22 years.
While Liberty does not operate branches, it does provide a network of mobile advisers to help customers find the right loan for them.
Liberty Financial personal loan repayment calculator
Total interest paid
Total amount to pay
Liberty Financial personal loans rates
Go to site
Fixed up to 10.49%
Liberty Personal Loan (Excellent Credit History)
based on $30,000 loan amount for 5 years
up to $950
Fully drawn advance
Fixed up to 13%
Liberty Personal Loan (Very Good Credit History)
based on $30,000 loan amount for 5 years
of loan amount
Fully drawn advance
- Tailored personal loan approach
- Below-average fees
- Additional repayments allowed
- No branch access
Features of a Liberty personal loan
Liberty’s personal loans focus on providing the money you need quickly and easily without the hassle of messy paperwork.
The whole application process is done online, and can be supported by an experienced lending specialist, who can usually get you an outcome within one to two days.
Liberty offers personal loans for a variety of purposes, including to pay for a car, a holiday, medical or dental work, debt consolidation, home improvement or to help pay for a wedding. The strongest borrowers may be rewarded with the lowest interest rates.
Liberty personal loans – customer service
Liberty offers phone customer service, and representatives are available to talk from 9am-5pm (AEST) between Monday and Friday.
Who is eligible for a Liberty personal loan?
To get a loan from Liberty, there are some basic eligibility requirements. You must:
- Be applying as an individual (no joint applications, or applications in your company or business name)
- Be a citizen or permanent resident of Australia and currently residing in Australia
- Be earning an income of at least $20,000 per year (you cannot be earning the majority of your income from Government benefits)
- Be at least 18 years of age
- Not have any outstanding defaults, court judgements, writs, or bankruptcies
- Not currently be late in paying any existing debts or bills
If you are self-employed, you must also:
- Have been trading for at least 2 years
- Provide the previous financial year's tax return, that shows income has been paid to you from your business, and the notice of assessment
- Be borrowing for predominantly personal or personal investment purposes
How to apply for a Liberty personal loan?
You can apply online, at any time, using a computer or any device that has an internet browser and internet connection. It should only take you about 10 minutes to complete your application. However if anything unexpected should pop up, just save your application and you can come back at any time.
Liberty personal loans review
Liberty offers flexible personal loan solutions – customers can also choose their repayment schedule; repayments can be made weekly, fortnightly or monthly; and there are no ongoing fees, or fees for closing the loan early.
Liberty’s personal loan rates and establishment fees vary from product to product. In general, Liberty personal loan interest rates are moderately low to very low, but may change depending on your credit history. Liberty’s specialists may be able to help you find the right products and personal loan interest rates for you.
If you’re looking for the best personal loan rates for your financial situation, it’s advisable to compare rates, fees and features before choosing your loan.
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It can be hard to improve your credit score, as it usually requires sacrifice and discipline, but hard doesn’t necessarily mean complicated. Some simple ways you can give your credit score a boost include closing extra credit cards, reducing your credit card limit, pay off any loans and make loan repayments on time.
As a general rule, the lower your credit score, the more remedies you can apply and the greater the scope for improvement.
Some lenders will consider personal loan applications from a borrower with bad credit if the borrower has a family member with good credit willing to guarantee the loan (a guarantor).
If the borrower fails to pay back their personal loan, it will be their guarantor’s responsibility to cover the repayments.
Personal loans may require a borrower to provide proof of identity, proof of residence, details of any other outstanding loans (including credit cards), details of assets they own (e.g. savings, car, property), and proof of income.
While borrowers in full-time or part-time employment can often provide payslips and similar documents to prove their income, self-employed borrowers may need to provide other documents, such as bank statements or tax returns, to demonstrate that their income can cover a loan’s repayments.
If you’re having trouble being approved for a loan of less than $2000 and urgently need to purchase household essentials, there may be emergency loan options available to you.
For example, the No Interest Loans Scheme (NILS) allows low-income borrowers to take out interest-free loans of up to $1500 for essential goods and services.
For further assistance, consider contacting a financial counsellor, or calling the National Debt Helpline on 1300 007 007
It can be more difficult for unemployed borrowers to successfully apply for a personal loan. Most lenders require borrowers to have a regular income available to cover the cost of loan repayments.
If you’re self-employed, or if less than half of your income comes from Centrelink, you may not be eligible for some personal loan options. Consider contacting the lender before applying.
Much like applying for other personal loans, applying for personal loans for single parents will likely require the following:
- Proof of identity
- Proof of residence
- Proof of income
- Details of assets (e.g. car, home)
- Details of liabilities (e.g. credit cards, other loans)
- Loan amount
- Loan term
Many borrowers use quick loans to cover short-term or urgent costs, such as paying for car repairs, medical bills, or replacing broken appliances or electronics. Quick loans often have high interest rates compared with regular personal loans.
Before applying for a quick loan, consider your other available options, such as working out a payment plan or applying for an advance or extension.
Much like home loans, many personal loans can be refinanced. This is where you replace your current personal loan with another personal loan, often from another lender and at a lower interest rate. Switching personal loans may let you enjoy more affordable repayments, or useful features and benefits.
If you have a $5000 personal loan as well as other debts, you may be able to use a debt consolidations personal loan to combine these debts into one, potentially saving you money and simplifying your repayments.
Depending on the lender, personal loans and medium-amount loans for $5000 can sometimes be approved in under an hour, and give you access to the money the same day. Other loans may take 24 hours or longer to assess your application, and you may not get the money for a few days.
If you need to borrow $2000 or less, alternatives to getting a personal loan or payday loan include using a credit card or the redraw facility of your home, car or personal loan.
Before you borrow $2000 on a credit card, remember that interest will continue being charged on what you owe until you clear your credit card balance. To minimise your interest, consider prioritising paying off your credit card.
Before you draw down $2000 in extra repayments from your home, car or personal loan using a redraw facility, note that fees and charges may apply, and drawing money from your loan may mean your loan will take longer to repay, costing you more in total interest.