Symple Loans personal loan repayment calculator

Thinking about taking out a personal loan with Symple Loans? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Symple Loans personal loans compare with other options.

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Your estimated repayment

at interest rate 10.00 %

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Pros and cons

Pros and cons of a Symple personal loan
  • Strong credit borrowers may get lower interest rate
  • Online application
  • No early repayment fees
  • Poor credit borrowers may get higher interest rate
  • Establishment fee charged
  • Monthly fee charged

Symple Loans personal loans rates

Advertised Rate


Variable up to 7.99%

Comparison Rate*




based on $30,000 loan amount for 5 years at 6.47%

Upfront Fee


of loan amount up to 5%

Redraw facility
Extra repayments
Fully drawn advance
Go to site

Total repayments for a 5-year, $30,000 loan at 6.47% would be $34,590*. Terms from - years

More details

Features of a Symple personal loan

Symple provides unsecured personal loans of between $5,000 and $50,000. Borrowers can pay a loan off over a maximum loan term of seven years.

Symple charges a one-off establishment fee, which is not a flat charge. Instead, the fee amount depends on how much you borrow. Symple also charges ongoing fees, late fees and dishonour fees. There are no penalty fees for early repayment.

This lender’s personal loan rates may vary depending on your credit history. Its lowest rates are very low when compared with other unsecured loan options on the market, but its highest rates are very high.

Symple personal loans – customer service

Symple is a 100% digital lending company, so it operates no physical branches. Customers can contact Symple by phone, online enquiry, email and SMS messaging. You can call Symple from 9am to 5pm (AEST) on weekdays.

If you can’t reach a representative in those hours, you can also schedule a call-back from Symple at a time that suits you.

Who is eligible for a Symple personal loan?

  • Must be over the age of 18.
  • Must be applying as an individual (no joint applications).
  • Must be an Australian citizen or permanent resident, and living in Australia.
  • Must be employed and earn at least $25,000 per year.
  • Not currently bankrupt.
  • Self-employed borrowers must have been trading for at least two years and be able to provide their most recent tax return details.

How to apply for a Symple personal loan?

The application process takes about seven minutes and can be done through Symple’s website.

  1. Get your estimated interest rate and review the quote.
  2. If you decide to proceed, make and submit a formal application on Symple’s website.
  3. You should get a response in one minute, based on the provided details.
  4. If approved, you may receive the funds within one business day.

To help with your application, prepare the following documents before applying:

  • Proof of ID (such as your driver’s licence or passport)
  • Internet banking credentials (to send Symple your bank statements)

Symple personal loans review

Symple is an option for people looking for a non-bank alternative that has a focus on digital technology.

As Symple is an online-only lending platform, it may be suitable for borrowers who are tech-savvy and don’t mind applying for and managing their personal loan online.

Symple personalises its interest rates according to a borrower’s risk profile. This means strong credit borrowers may get very low interest rates, while those with poor credit history may get very high interest rates.

It’s worth noting that Symple’s one-off establishment fee is based on the borrower’s loan amount. The more you borrow, the higher the establishment fee. Symple also charges other fees. With this in mind, it’s best to read the loan contract carefully if you are applying for a Symple personal loan.

If you’re in the market for a personal loan, it’s worthwhile to compare personal loan interest rates, fees and features from several different lenders before deciding which one is best for you.

Learn more about personal loans

How much can you borrow with a bad credit personal loan?

Borrowers who take out bad credit personal loans don’t just pay higher interest rates than on regular personal loans, they also get loaned less money. Each lender has its own policies and loan limits, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.

What is a bad credit personal loan?

A bad credit personal loan is a personal loan designed for somebody with a bad credit history. This type of personal loan has higher interest rates than regular personal loans as well as higher fees.

Can you refinance a $5000 personal loan?

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.

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.

Do student personal loans require security?

While some personal loans can be secured by the value of an asset, such as a car or equity in a property, student personal loans are often unsecured, which typically have higher interest rates.

Some lenders also offer guarantor personal loans to students. These loans have lower interest rates, as a guarantor (usually a relative of the borrower with good credit) will fully or partially guarantee the loan, taking on the financial responsibility if the borrower defaults.

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 do credit scores have to do with personal loan interest rates?

There is a strong link between credit scores and personal loan interest rates because many lenders use credit scores to help decide what interest rates to offer to potential borrowers.

If you have a higher credit score, lenders will probably classify you as a lower-risk borrower. That means they’ll be keen to win your business, so they may offer you a lower interest rate if you apply for a personal loan.

If you have a lower credit score, lenders will probably classify you as a higher-risk borrower. That means they might be concerned about you defaulting on the loan and costing them money. As a result, they might protect themselves by charging you a higher interest rate.

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.

Can I get a no credit check personal loan?

Personal loans with no credit checks are available and called ‘payday loans’. These are sometimes used as short-term solutions for cash-strapped Australians. They often carry higher interest rates and fees than regular personal loans, and individuals risk putting themselves into a worsened cycle of debt.

Is a personal loan a variable or fixed-rate loan?

Depending on the personal loan lender, you may be able to choose between a fixed and a variable interest rate. But, there are a few distinct differences between the two, so it’s important to weigh up the pros and cons before deciding on what’s right for you.

A fixed interest rate loan gets you the convenience of knowing exactly how much you need to repay each fortnight or month. On the other hand, you generally won’t be able to make lump sum or advanced payments to close your personal loan early - or at least not without a penalty.

With a variable interest rate personal loan, you may be able to get a longer loan repayment term, with the option of paying off the loan early. You typically won’t need to pay any additional charges for an early full repayment either. The potential disadvantage with an interest rate that can change is that your repayment is not entirely predictable, as it can fluctuate with the market. However, you’ll likely have more options as more lenders offer a variable interest rate personal loan.

Can I get a self-employed personal loan with bad credit?

It may be much more difficult for a self-employed borrower to successfully apply for a personal loan if they also have bad credit. Many lenders already consider self-employed borrowers to be riskier than those in full-time employment, so some self-employed personal loans require borrowers to have excellent credit.

If you’re a self-employed borrower with a bad credit history, there may still be personal loan options available to you, such as securing your personal loan against a vehicle of equity in a property, though your interest rates may be higher than those of other borrowers. Consider contacting a lender before applying to discuss your options.

What are the Westpac personal loan eligibility criteria?

The process to apply for a personal loan from Westpac is simple and can be done online. To be eligible for a Westpac Bank personal loan, you must meet the eligibility criteria. These include:

  • You should be over 18 years old
  • You must be a permanent resident or hold a valid visa with confirmed employment in Australia
  • You should earn a regular and permanent income of at least $35,000 before taxes

If you feel you meet these eligibility criteria, you can apply for a personal loan with Westpac. With your application form, you’ll also have to submit the following documents:

  • Personal details including name, contact information, and residential address 
  • Proof of identity such as drivers licence or passport details
  • If you’re self-employed, you’ll need a list of assets, savings, investments, and liabilities as well as your most recent tax return information
  • If you’re an employee you’ll need to submit information related to your employment and finances like bank statements and payslips

Westpac Australia personal loans are available for amounts from $4,000 up to $50,000 and loan terms of up to seven years.

Can single mothers get personal loans online?

Many lenders offer online applications for personal loans, which can be convenient for borrowers who have busy lives. If you’re not confident your personal loan application will be approved, you may want to consider contacting the lender by email, live chat, phone, or by visiting a branch, to discuss your situation before applying.

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.

What do single parents need for a personal loan application?

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